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Replies
Hi Gary.
Interesting question.
I think it would be safe to assume that both are interlinked to the point that you could say that all advertising is a form of marketing & I am trying to think of a form of marketing that could not be classed as advertising, and I can't (however "gimmicky")
Some could be classed as more of one than the other, example: free pens with phone number on is a marketing idea but also an advert.
I've always been confused with "Return On Investment" as a measure of how successful ones input into their marketing has been. I have as yet steered clear of the constant emails I get from newspapers and websites offering ad space with a so called "410% ROI".
If these claims were true, why would they even need to contact me? Surely their spaces would been over subscribed due to it being a no brainer.
I keep my marketing/advertising ideas (thank you for your comments once again) set at easily divisional numbers so I can actually work out my success percentage which I think would be part your "it".
The other part of "it" I think, would be how many paid leads I managed to get, compared to the monetary outlay for that particular marketing/advertising strategy.
To get a marketing strategy correct is the Holy Grail, it's just a shame there are thousands & thousands of strategies out there!
David.
In very loose terms...
I see marketing as who to target & why
Advertising is the process of how to reach them.
I spend every winter on this & look at the past years experience and bench mark myself against previous years.
Jobber is helpful in correlating data for me as when i take on a new client I gather stuff like age group, type of house, area, work gained/lost, quotes one/lost ect.
It has really helped me fine tune who will buy my services
Personally I feel marketing is creating a presence whilst advertising is selling something. Even if you are fully booked with work you still want/need a market presence!
Marketing is every single thing you do in your business that helps you to tailor your business to best meet the wants and needs of the most profitable target market.
Advertising is simply the techniques you use to communicate your offering to potential clients and other stakeholders.