Marketing Or Advertising, Which Will You Choose

So many times, as a new business owner, I wish I had understood the difference between advertising and marketing. I am sure many people have a different definition of these words. Let’s explore this topic for today’s article.

Wikipedia defines advertising this way: Advertising is a form of communication intended to persuade its viewers, readers or listeners to take some action. It usually includes the name of a product or service and how that product or service could benefit the consumer, to persuade potential customers to purchase or to consume that particular brand. I think that pretty well sums up what we think of as advertising. We are all very familiar with it in all of its forms. TV, radio, print, billboard, word of mouth, and direct mail just to name a few. Now let’s look at Wikipedia’s definition of marketing. Marketing is used to create the customer, to keep the customer and to satisfy the customer. You can also market using TV, radio, print, billboard, word of mouth, and direct mail; so what is the difference. I believe that ROI or return on investment is the greatest difference. Anybody can advertise but few can market. Let me give you some examples.

1. How often do you get your oil changed? Why every 3,000 miles? Your owner’s manual says every 5,000. Quick lube places have set themselves up as an expert. When they say every 3,000 miles we believe them.

2. How often do you have your teeth cleaned? When do you schedule the appointment? Dentists have done this better than any service provider I know. They make you feel stupid if you do not schedule your next appointment 6 months from your last. And you schedule it before you leave the office. Brilliant. Continued business and the customer thinks it was their idea.

3. One more “So Easy a Caveman can do It” The slogan for Geico is powerful stuff.

So anyone can throw money at advertising but few take the time and effort to market themselves or their product. Here are some simple tips to help you as you learn to market.

1. Learn from other people, life is too short to learn it all. Find smart and successful people in this area and copy what they are doing.

2. Learn some copywriting skills. Dan Kennedy is a superb writer and will help you greatly to read his books.

3. Test, test, test. Do two or three ads and measure the results of each.

4. Keep great records of every piece of marketing you use. Know which ones work and which ones do not.

5. Be patient, this is not a quick process and there is no magic bullet. Keep fine tuning your ads until you reach the greatest returns on your investment.

6. Do not be afraid to pay for help. PICK WISELY. Many will take your money and provide poor returns. There are some very good companies. Just do your homework before ordering.

Taking these steps can help your budget decrease as your return increases.