Every successful business needs to have a solid marketing plan in place. Unfortunately, far too many companies choose to ignore some of the most basic marketing techniques that can make a big difference.
When your marketing team makes decisions, whether it’s about a campaign or a general direction for your brand, they should be focusing on the Five C’s of Marketing – or, the five most important areas.
The Five C’s include:
You can probably get a basic idea of where to go with each of those areas just by looking at the words. But, let’s dive a bit deeper into how you can use the Five C’s of Marketing to boost your business and hone in on your marketing strategy.
When was the last time you went through a thorough overview of your company? Take a look at the products or services you’re offering, your goals, and your overall company culture. Are you where you want to be?
When you have a better understanding of where your company stands, you’ll know where (and how) to make changes to your marketing to take better care of your customers.
Who are your customers and what are their needs? Researching your target demographics can help you to hone in on the products or services you’re offering. Look at market segments, seasonal factors, and the things specific demographics have shown interest in by checking out purchasing trends.
Your suppliers and distributors can be huge allies for you. They will help you to achieve your goals faster if you’re willing to work with them and form a collaborative relationship, rather than just a surface one. Don’t be afraid to work with other businesses or entities to reach a common goal.
You’ll always have competitors, but it’s important to know who they are and how they’re targeting your audience. What are their strengths? What are their weaknesses? What are they doing to meet the needs of customers that you’re not?
By studying your competitors (or even potential threats), you can motivate your team and get a better idea of what’s working for others and what’s not, so you can capitalize on the ‘good’ and make fewer mistakes.
It’s important to know the overall climate of the market at any given time. This includes economic, political, and regulatory environments as well as the current social environment and technological environment.
Assessing these climates will help you to make better marketing decisions that can appeal to consumers in the present moment. Taking the time to care about the current state of things will help your brand to remain relevant and interesting to potential customers.
If you’re working on boosting your brand or coming up with a new marketing strategy, these five areas should be at the core of everything you do. Use them to build your strategy, and come back to them frequently to make sure the goals you started out with are still on task.