Residential Commercial Mortgage Loan Originator at Clear Lending.
Holistic Marketing - Mandatory toolbox for Small Business Survival
The current era is dominated by social media networks where customers are aware of everything they need to buy. The epoch is dominated by another phenomenon as well i-e tight budgets. In this consideration, customers think and investigate a lot before spending money and their purchase decision profoundly depend on the experience and satisfaction that they gain from a brand. The common concerns of customers do not impact the industrial giants who sell luxury products to elite class because customers will buy their products, regardless of their experience with other parts of business. In nutshell, the product quality will count enough to positively bend their purchase intention. Contrarily, the scenario is completely different for small and medium brands because their target market mainly comprises of common people who want to spend their money on the best. Therefore, small businesses need to implement a marketing tool that encompasses all parts of businesses and is aimed to provide great experience to customers at all levels. In this scenario, the idea of Holistic marketing emerges as the best solution for small business to make their impact on target market and to shape customers’ purchase intention in their favor. It can be said that holistic marketing is an ultimate survival tool for small businesses in the current competitive market.
According to the concept of holistic marketing, all the departments of a business come together to develop a positive and united image in the minds of the customer. Holistic marketing is all about interconnected marketing. For instance, Apple is an example of Holistic marketing where the product development, the showrooms, operational services and the customer services, all are aligned and designed to provide best possible services to the customers.
The main attributes of holistic marketing that revives the profitability and market value of a small business are relationship marketing, internal marketing, integrated marketing and performance marketing.
The relationship marketing emphasizes on a long term relationship with customers and engagement activities rather than short term goals such as individual sales and customer acquisition. This strategy designs marketing activities such as promotional products and reward programs to engage existing customers which consequently creates a strong, everlasting and emotional connections. These connections result into repeated sales, referrals and positive word of mouth on various platforms such as social media.
Integrated marketing is a strategy when businesses integrates all communication tools such as advertising, direct marketing, sales promotion, social media marketing and public relations to create a seamless experience and brand connection for customers. Integrated marketing is a unified force to bring up a strong and intensive brand image.
A business can have only two types of customers i-e internal and external. Although, targeting external customers in a marketing strategy is a top priority but a business cannot thrive without engaging internal customers (employees) too. The internal customers of a business play vital role in product and brand marketing. Internal marketing is about convincing employees as internal customers so they are sold on the vision of company. Internal marketing is the best way to craft the roles of employees in the process of marketing and branding.
Socially Responsible Marketing
A business is a part of society. In this strategy, marketing has to reach further than the consumers of your product. It is aimed to create initiatives that are ethical, eco-friendly and meaningfully interactive with the community. Marketing strategies that are socially responsible in nature leave a positive and long lasting impact on all the stakeholders.
Through holistic marketing, small businesses can successfully maintain their sustainability in current competitive environment. Now, when customers are focused on overall brands and not just buying a single product, it is vital for businesses to enhance their brand image through smart marketing strategies. Through holistic marketing where all business dimensions are taken care of cohesively, small businesses can easily save time and money. By focusing on bigger picture and creating a synergy in marketing activities, small businesses can leave a strong and positive brand image, brand message and brand positions in the minds of customers.