Marketing Series:
The Value of Marketing
by Gene Muchanski, Editor
The Dive Industry Professional
When we survey Dive Industry Professionals in the Global Diving Business Network about their five most important business needs, something to do with marketing almost always comes up as one of their top needs. As a degreed marketing professional, I understand the reasons why. The business of diving is probably the most misunderstood concept in the global diving community. Marketing plays a large role in running a successful business in the world of diving. For those of us who work in the business of diving, the concept, value, and mechanics of marketing has to be studied, understood, applied, and mastered in order to bring our businesses and the industry to its next level of growth, success, and sustainability.
Diving is an Activity: Diving is a popular global activity. As an industry, we’ve come a long way from the early days of SCUBA (Self Contained Underwater Breathing Apparatus) Diving. There are many different types of diving and diving related activities, such as swimming, snorkeling, freediving, spearfishing, scuba diving, rebreather diving, technical diving, and surface supplied diving. These are the people who make up the Global Diving Community. Divers use different pieces of equipment and undergo different types of training for different types of diving: sport, recreational, educational, medical, scientific, military, commercial, and public safety. These are the components of the Global Diving Industry.
The Business of Diving: Diving is an equipment-intensive activity. It is also an activity that requires training and certification prior to commencement. There are a number of businesses in various industries that specialize in producing, distributing, and selling the programs, products, and services divers need to participate in diving activities. They are produced by businesses in the Global Diving Business Network.
The Diving Industry: The diving industry brings buyers and sellers of diving equipment, training, travel, and lifestyle products together by creating marketplaces that facilitate the flow of goods and services from producer to consumer.
The Market: The market for diving programs, products and services consists of buyers, sellers, the items to be sold, and the place where the exchange takes place. So marketing is everything we do to make the transaction from seller to buyer possible. From a Product Management perspective, I like to think of marketing as the process that moves products from conception to consumption.
The Science & Art of Marketing: When I work with clients on their marketing issues, I prefer to simplify the process by dealing with marketing related issues in a simple three-step process that addresses three components of marketing. The components are Product – Customer – Marketing. The three steps for these components are Product Management, Customer Management, and Marketing Management.
Product Management: Product Management delas with programs, products, and services, so let’s refer to them all as products. Product marketing deals with the life cycle of a product from conception to consumption. Product Management has a very important role in the supply chain. The three components are Product – Customer – Marketing. The marketing focus is to create products that customers need, want, and can afford. We start with the final outcome in mind (a customer conversion) by building products for specific customer needs. The ultimate customer conversion is a purchase. By building the correct products, our customer conversion process time should be reduced.
Customer Management: Consumer Research is an important part of the marketing job. Marketers spend a great deal of time building customer personas. We recommend the use of CRMs in every marketing department. Customer Relationship Management software will assist you in defining your ideal customer persona and track your customers’ journey through their conversion process. The three components are Product – Customer – Marketing. The difference with customer management is that our focus is on the customer throughout their customer purchase path and lifestyle loop. Customer centricity is a popular 21st century paradigm.
Marketing Management: Marketing plays a key role in the creation of products that have a high potential for sales success. They are also responsible for identifying potential customers for their products. These are marketing responsibilities, internally within the company. When it comes to external marketing responsibilities, marketing creates messages about the product and selects various marketing vehicles to deliver the messages to select customer personas. Basically, marketing’s job is to bring buyers and sellers together to facilitate a match between a customer and a product. Marketing’s job is to connect people with products.
Marketing as a Bridge Between Buyer and Seller: I like to think of external marketing efforts as a bridge that connects buyers with sellers. The consumer conversion pathway on that bridge is the roadway that marketing vehicles travel on, carrying their marketing messages about the products their company sells. Depending on how well marketing has done their job identifying prospective consumer personas, a successful conversion may not take place on the first bridge crossing.
Marketing’s Call To Action: When the Science of Marketing was first conceived, Marketers were responsible for creating and carrying marketing messages to prospective consumers, thereby paving the way for future sales. In today’s digital economy, there is no reason why Marketing should be restricted to only paving the way for sales. With our understanding of the Consumer Purchasing Journey and the effectiveness of Customer Relationship Management software, Professional Marketers should be able to shorten the Buyer’s Journey with an effective inbound marketing campaign and be able to achieve successful customer conversion outcomes. This is where marketing as a science becomes marketing as an art.
Marketing Strategy: If you are still conducting your sales and marketing like you did in the 20th Century, it’s time to stop and reboot. If you are looking for the next, new shiny object or silver bullet to increase your sales – STOP LOOKING. If you are thinking about doing what you think everyone else is doing – STOP. Everyone is not doing it, and those who are, are not getting anywhere. It’s time for 21st century tools and technologies that will help you master the art and science of 21st century consumer behavior. It’s about putting a 21st century GPS marketing device on the outcome you want to achieve and launching 21st century marketing tool to hit your target.
Keep Your Marketing Simple:
We are in the business of bringing buyers & sellers together. Marketing is about connecting people with products. Good marketing is about making integrated strategy look simple. Great marketing is about using modern marketing tools and technologies to make your job easier and more productive.
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