There is no “exact answer” to marketing, but we believe what Peter Drucker says, pretty much explains the core of marketing.
Whether you’re a marketer or not, understanding marketing is necessary. Marketers will have to understand a little more deeply but non-marketers can increase their quality of work by understanding the basics of marketing.
Basic skills needed to do marketing
1. Analytical Skills
Ability to understand analytical information which are extracted from various platforms and backgrounds. Also, you will require basic skills to install and use analytics tools such as Google Analytics which can help you to look into deep insights from data.
2. Planning Skills
Ability to plan and develop effective marketing strategies based on customer needs and purpose, not milestones. Planning and scheduling actions that will solve problems are necessary.
3. Information Gathering Skills
Ability to constantly gather information on the latest market trends, customer needs, and competitor information, and stay updated with the latest information. Marketers must know the world daily which requires reading tons of videos, TV, magazines, newspapers, and many more sources so that biased interpretations won’t happen.
Also, the ability to assess the reliability of information sources and efficiently collect necessary information is required.
4. Digital Skills
Knowledge and skills in digital marketing, such as SEO, SEM, MEO, social media, and website operation such as WordPress Operations.
The ability to understand and utilize the latest digital technologies is also needed because trends change and evolve rapidly.
5. Flexibility
Ability to adapt flexibly to changes in the market environment and customer needs. Marketing is an animal, it changes daily; we must adapt to this animal.
A proactive attitude to continuously learn new knowledge and skills.
6. Ethics
Ability to judge what is right for customers and society and act ethically.
Awareness of not only legal compliance but also social responsibility. Don’t forget marketers hold a role of public relations most of the times, so you can forget about your responsibilities.
7. Logical and critical thinking
To execute premium quality marketing services, you must think logically to order things and work them out. Also, you’ll need to polish them to make those ideas better.
These skills are essential for marketing professionals.
The skill level required varies depending on experience and job role, but it is important to always aim for skill improvement.
Marketing is a field that is constantly evolving.
It is essential to keep learning the latest information and skills to succeed.
Websites like the following can help your marketing skills track the trend.
key marketing metrics you must look at
1. Customer Acquisition Metrics
Number of New Customers: The number of new customers acquired during a specific period.
Customer Acquisition Cost (CAC): The average cost spent to acquire a new customer.
Conversion Rate: The percentage of users who take a desired action after being exposed to a marketing campaign.
Cost Per Acquisition (CPA): The average cost spent to acquire a lead.
2. Customer Retention Metrics
Customer Retention Rate: The percentage of existing customers retained over a specific period.
Churn Rate: The percentage of customers who cancel their subscription or stop using a product or service over a specific period.
Customer Lifetime Value (CLV): The total revenue a customer generates for a business over the entire course of their relationship.
Average Order Value (AOV): The average amount of money a customer spends per order.
Customer Engagement Rate: A measure of how customers interact with a brand.
3. Revenue Metrics
Revenue: The total amount of income generated by a business over a specific period.
Profit Margin: The percentage of revenue that remains after costs are deducted.
Return on Investment (ROI): The amount of profit generated from a marketing investment.
4. Brand Metrics
Brand Awareness: The level of awareness of a brand within a specific market.
Brand Recall: The likelihood of customers thinking of a brand when considering a specific product category.
Brand Loyalty: The extent to which customers choose a brand over competitors.
5. Other Metrics
Website Traffic: The number of visitors to a website over a specific period.
Social Media Engagement: The level of interaction with a brand on social media.
Search Engine Optimization (SEO) Metrics: The ranking of a website in search engine results pages (SERPs).
Map Engine Optimization (MEO) Metrics: The ranking of businesses under specific conditions such as areas or needs.
These metrics are essential for measuring the effectiveness of marketing campaigns and making necessary improvements.
The importance of each metric varies depending on the specific marketing goals and objectives.
It is crucial to identify which metrics are most important for achieving your goals.
Regularly analyzing your metrics can help you understand the performance of your marketing campaigns and adjust your strategy accordingly.
Here are some tools that can help you analyze your metrics:
Google Analytics
Adobe Analytics
Facebook Insights
Twitter Analytics
These tools can help you collect and analyze data related to your marketing activities. However, just analyzing data isn’t enough. Marketers will need to divide analysis relationships into causation and correlation. This is a very challenging step but important in modern marketing because it is necessary to continuously provide quality instead of waiting for a lucky chance to come.
Conclusion
There is no “correct answer” to marketing, but there are many incorrect marketing in the industry. Most of the time, this happens because the marketer or the person in charge doesn’t have knowledge or experience in marketing. Feel free to contact us to learn more about marketing and us.
