Some things are just more fun in quantities greater than one. This is especially the case when it comes to marketing. When you put all of your proverbial marketing eggs in one basket, you limit your opportunities for success. Yeah, you may save money, but consider how much you are losing by not mixing your marketing tactics to reach new customers and increase profits.
Consider how your customers find you. Chances are they chose to do business with yours because of a variety of reasons. Some may come because of a referral (referral marketing), some because of an advertisement (content marketing), while others use the Internet (digital marketing). The bottom line is that having a one-sided marketing strategy is counterproductive. It limits your exposure to different people in different areas and with different interests. It also doesn’t consider the needs of the customer.
If the end goal is more business, then it is essential to pick and choose tactics that are within your budget that will allow your business to make profitable marketing decisions at every level. Marketing doesn’t have to be expensive. The four Cs of a marketing mix redirects what marketing tools to use away from the business and onto the customer.
The Four Cs of a Marketing Mix
- Consumer – What are the needs and wants of the consumer? Your business should be solving a problem for a customer. What is that problem? What is lacking?
- Cost – What is the cost of acquiring the product or service you offer? This cost also includes the amount of time a customer spends researching the options available.
- Convenience – How easy or difficult is it for customers to purchase the product? How can you limit barriers to make the sales process easier for customers?
- Communication – How is the customer learning about your product or service? What marketing mix are you using?
Identifying the most appropriate marketing mix involves having a clear understanding of your target audience. As mentioned earlier, this is less about you and more about the customer. What motivates your customers to buy? As you can guess, this can vary significantly from generation to generation as well as by gender, socioeconomic status, and geographic region. You also need to have clearly defined goals. How busy do you want to be (how much do you want to sell)? What is your marketing budget?
We offer a variety of marketing options to meet the unique needs and goals of the business. Marketing isn’t one size fits all. Just because every company seems to be on Instagram or Facebook, is it going to help yours? Is direct mail the way to go? Not always. It depends on your target audience.
If you are unsure which way to go, a marketing consultant may be a wise investment. They can help identify marketing tactics that are within your budget while also being highly effective for your target audience. Surprising to many, hiring the right agency can cost you less than trying to do everything internally. This is because they have the knowledge and tools needed to provide clear insight into the different marketing mix options as well as the buying behaviors of consumers.