What is marketing anyway?
Hello and welcome to the Great Minds Blog! For our very first post, we thought, why not kick things off from the very beginning by addressing that very common question – What is marketing anyway?
If you’re like me and work in marketing, you’ve probably been asked this question more times than you can remember. And if you’re running a business or keeping an eye on its finances, you might have found yourself pondering over this question, since it is a cost centre, after all!
So, what is marketing, really? dictionary.com defines marketing as "the action or business of promoting and selling products or services, including market research and advertising". That covers A LOT! It's easy to lump marketing in with sales and advertising, areas we often hear marketing is not to be confused with. Yet, marketing, sales, advertising—they all go hand in hand. In fact, marketing plays a role in pretty much everything a business does.
But what does that actually mean? Think of marketing as the backstory of your business. It’s what connects the dots between what you offer and why it matters to your customers.
For example, imagine you're launching a new app that’s set to revolutionise how small businesses manage their finances. Marketing kicks off with defining your app’s identity (it's the easiest, most user-friendly finance tool out there). Then, it’s about defining your target audience (WHO needs this app) and their challenges (WHAT problems are they facing that your app solves). The next step? Sharing how your app makes financial management simple (HOW it works). And finally, you've got to convince them why your solution beats the rest (WHY your app, not the others).
WHO + WHAT + HOW + WHY = MARKETING
But here’s the issue—marketing, especially in the tech and professional services sectors, is notoriously difficult to measure. The impact of a well-written blog post, a viral social post, or an engaging webinar isn’t immediately visible in the bottom line. Yet, what we do know is that without marketing, your groundbreaking app or industry-leading consultancy would be the world’s best-kept secret. And that's not good for business.
To summarise, marketing isn’t just about making noise; it’s about making the right noise in the right places. It's telling your story in such an interesting way that your target audience can’t help but listen, engage, and ultimately, choose you over the competition.
So, the next time you find yourself wondering what marketing even is, or why you should be spending your (often limited) budget on it, remember it’s not about throwing messages into the void. It’s about strategic storytelling, creating relationships, and building a presence that stands out. Without it, even the most innovative technology or the most expert service runs the risk of remaining unnoticed. Welcome to the exciting world of marketing—where every product, promotion, and post plays a part in the story of your business’s success.
