Traditional marketing techniques have been discarded in favor of modern, digital marketing strategies. However, some of the buzzwords of old school marketing can still help modern businesses flourish. Advertising has shifted from print media to virtual and social media but emphasis is still laid on powerful content like before.
Traditional marketing may have metamorphosed yet the basic principles of success remain the same. In the following paragraphs, some of the most popular buzzwords of business marketing have been described which are relevant till date.
Buyers want benefits
People do not happily hand over their hard-earned money for nothing. They are not interested in knowing about the features your products have. They are only interested in getting benefits in return of their money. So, your approach has to be client centric instead of product centric. You have to tell them what benefits they will be getting. The marketing strategy has to revolve around solving the problems your customers face. When customers realize the benefits they will be getting then they will naturally gravitate towards your products.
Innovation, innovation and some more of it
A marketer who cannot think on his or her toes will not succeed in this competitive world. From the very beginning, innovation has been the popular and most revered buzzword of marketing. You have to think on the go and feel the pulse of the target audience. Approach marketing from a unique perspective that your competitors have not yet explored. Do something new that nobody has yet attempted. Doing a new thing may seem risky but if you back it up with common sense and research then chances of gain are significantly high.
Know your audience
This cannot be emphasized enough. You must know your target audience completely or else you will not be able to structure a perfect marketing strategy. You need to understand the demographic of the target audience and analyze their lifestyle. Another important aspect of knowing your customers is finding out the brands they use. The products they use everyday and places where they go to shop will help you find out what they really like or dislike.
Word of mouth generates trust
Digital presence and connecting with your customers virtually is necessary but it is also important to make sure that your loyal clients spread the word of the mouth. If someone who has already bought your products or taken your services vouches for you or refers their friends to you it will make you more credible. Word of mouth builds reputation of a small business. Startups do not have huge resources for launching big marketing campaigns so they have to rely on the word of mouth.
Take care of the other three Ps
Traditional marketers believed firmly in maintaining the fine balance between all the four Ps, which are product, pricing, placement strategy, and promotional strategy. If your product and pricing do not match the promotional campaign or vice versa, then the purpose of marketing will not be fulfilled. Launching a promotional campaign at the right time is also crucial. Do not start planning the marketing campaign before your product is completely sellable.
Do not get too late
One mistake is launching a marketing campaign too early and another mistake is launching the marketing campaign too late. If you have started a new startup then you will have to spread the word and build an audience. Both of these tasks will take a lot of time. So, as soon as you have arranged the products then you should make a detailed marketing plan. Striking the iron while it is hot is the key to successful marketing.
Some traditional marketing buzzwords and wisdoms can still help modern business owners in planning a good marketing campaign and implementing it. Taking a few pages out of the traditional marketer’s book can prove to be beneficial.