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What is Marketing?
What is Marketing?
The word marketing refers to the processes involved in the distribution or exchange of goods and services. These goods and services do not move automatically from the market to the consumers, in other words, marketing is that powerful tool that connects the two major wheels of any economy that are producers and consumers.
Marketing activities are basically concerned with the process of fulfilling the demand of its consumers. These activities interact with one another as components of the total system by which a company develops and makes its products available in the market.
Let's understand this better with an example-
Common examples of marketing include television commercials, billboards, magazine advertisements, posters, telephone books, radio, business cards, flyers, etc.
History of marketing-
Marketing practices have been in action for millennia, but the process of buying and selling goods and services became popular in the late nineteenth century. A firm uses a few functions of marketing to generate revenue such as conducting research, planning & development, packaging & storage, final selling of the product, transportation, advertisements etc.
Personal selling was an important method of marketing in history.
It was widely used in retail marketing and involved direct and personal contact of the seller or his representative with the producer.
It was the oldest known form of selling and the most important and recognized method as well.
Earlier people believed in the fact that "let the buyer beware".
Selling has become a science of human relations and the art of getting along with people so effectively that sales resistance may be reduced to the minimum.
How marketing affects our lives today?
We just discuss the history of marketing however the whole definition and concept of marketing have changed during the current scenario.
Now marketing is no more about just the paid commercials on television or the billboards on the side of the road, it has taken a whole new digital turn. Now marketing is also a part of digitalization called digital marketing, social media marketing, etc. These methods are most widely used in today's era and are considered to be the most effective to market one's products and services.
What is paid advertising?
Advertising has become an important function of marketing in the competitive world. It helps to spread the message about the product and does promote its sale. It facilitates the creation of a non-personal link between the advertiser and receivers of the message.
The importance of paid advertising has increased as everything is going digital and people are consuming and relying on the internet more than they did earlier. Business firms use several media advertising to sell their products. These include- newspapers, magazines, hoardings, social media ads, cinema halls, television window displays, etc.
The term paid advertising has gained a lot of fame in the recent scenario. Paid advertising means advertising your products in someone else's space. In simple words, marketers pay to those owners who are willing to give their space for the product promotion.
It is online advertising where the advertisers bid and participate in order to show their advertisements on a specific platform on the decided time slots.
There are various platforms available for paid advertising. These include Facebook ads Google ads and ads on YouTube, Instagram, Snapchat and other social media platforms. All these platforms are used to run paid advertisements.
Many corporations hire companies just to run strategic campaigns to advertise their business. However, there is a huge budget required to market their business names on social media. All this makes advertising a powerful tool.
For example, you must have noticed that on every app that you install you constantly see ads running. These ads don't appear automatically but there is a marketer behind those ads who has paid a huge amount of money to market their business so that it reaches millions of people.
Some ads are very short and crisp, limited to 5-6 seconds, and also enable the option of skip ad, while some ads are a bit longer, specifically 60 seconds that cannot be skipped.
This paid advertising on social media platforms is a bit different from the television ads that you see.
What are the objectives of paid advertising?
The prime objective of paid advertising is to reach a higher number of audiences and create an impact in the digital world. A business predominantly aims at satisfying the customer’s needs and grabbing their attention. Paid advertising creates a desire for new products amongst the audience.
Some of the objectives are as follows-
Grab customers attention
Increase profits
Maintain a social media presence of the business entity
To generate leads for the business
To create a good image in the digital world or maintain brand loyalty.
To reach out to more influencers to market their products and services
To effect immediate buying action
The main purpose of advertising is to acquaint prospects with the product and its strengths so that they will be more favorably disposed of when they come face-to-face with the product. It is highly useful for developing initial business awareness.
Paid advertising is an impersonal method of communicating messages to prospective consumers through social media which may be purely visual.
Paid advertising is done by an identified sponsor which could either be a company or a brand name. It is a paid form of communication where the sponsor has to pay for the media time and space.
Businesses using expired marketing techniques and their impact-
As we all are aware, the old forms of marketing that include posters, business cards, signs, billboards, flyers, etc were very popular when they were introduced in the market. However, these techniques have now become way too old and traditional. These tactics still work to some extent but in order to maintain your social media presence and market your products digitally, it's important to get in the shoes of digital marketing and understand how paid advertising can boost up your business.
You can showcase your business on a billboard or get it published in a magazine or newspaper but take a few seconds and introspect, will people read about it in detail? Will it create an impact? The answer is No!!
Why do businesses need Marketing and paid advertising?
People like consuming video promotions over reading newspapers, magazines, hoardings, or billboards.
A person might wait and look at your billboard but won't go ahead and contact you but in the case of paid advertising where millions of people are watching your ad, there are high chances that people would click on the ad and directly reach out to you.
Conclusion
There are various ways in which you can market your product via paid advertising. You can hire influencers who would promote your products and services on their social media handles for channels.
This way you can reach a higher audience and build trust among your consumers. Apart from this, you can also run ads on Facebook, YouTube, or Google, as a large audience is active on the internet 24/7, and this can turn out to be a milestone strategy for your business.
If you are wondering how paid advertising works then let's have briefly understand this-
You can create your own website which can rank on google if it is SEO optimized ( Search engine optimization). Once your website is visible to the consumer's it will be easy for them to click and directly read about your business. Apart from this, you can reach out to people who market businesses on various digital platforms.
Do You Need Assistance?
Do You Need Assistance?
Ready to take your business to the next level with targeted online advertising that brings in leads consistently? At WaterWorks Agency, we specialize in helping business owners navigate the complex world of online advertising to drive tangible results.
We understand the crucial difference between marketing and paid advertising – and how strategic ad campaigns can be a game-changer for your business growth. Whether you're new to the digital advertising landscape or looking to optimize your current strategies, our team is here to assist.
Discover how we can tailor our expertise to suit your business needs by contacting us through this page. Let's discuss how WaterWorks Agency can be the catalyst for your success in generating leads and maximizing your online presence.
Unlock the power of effective online advertising today – reach out to us and let's start transforming your business together.
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