Marketing can Move the World
Marketing is the heart of any business since it showcases your product or service to the relevant demographics that need to see what you offer. Marketing contributes to the development of your brand, and by developing the brand, your company will gain the recognition it requires to continue making sales and acquiring new consumers. Brand recognition is essential, and without it, you will lose sales and potential new clients. With the right marketing for your business, this can be virtually avoided.
Marketing increases the likelihood of being discovered by the correct type of customer. It is proven that a good marketing plan will propel you and your company forward, but a great marketing strategy will not only propel you and your company forward but will also ensure the longevity of your company for future success. Below is an example of how a great marketing plan helped Nike increase its profit as well as its customer base.
The Summer Olympics 2012 were held in London, United Kingdom. There was fierce competition among several sports brands to sponsor the event. However, Adidas emerged victorious. Adidas paid $150 million to be the Olympics’ title sponsor. Now, all was set and ready for Adidas, but something out of the box happened as the marketing strategy adopted by Nike changed everything and helped Nike gain more followers than Adidas. Not only this, but many people also thought that Nike was the title sponsor.
Nike emerged as the king despite neither being a title sponsor nor linking itself with the Olympics. Nike took advantage of some flaws and devised the following strategies:
- They hired 400 athletes to be brand ambassadors and requested that they wear the company’s shoes. Those shoes were yellow-green in colour, creating a fantastic contrast with the Olympic tracks.
- Nike was forbidden from featuring London in their advertising. However, there is a minor twist here. There are 28 more London-named sites in various parts of the world. So they shot all of their advertisements except in London, United Kingdom.
- Nike was not permitted to hire athletes as marketing ambassadors. So, it employed ordinary teenagers for advertising and produced gorgeous advertisements. It literally brought the internet to a halt. They used the emotion of inspiration to explain their concept.
Businesses that have marketing plans are more likely to succeed because they are organised, have a strategic direction, and have determined their goals. These strategies connect your company’s skillset to clients, resulting in positive outcomes. Creating a marketing plan takes time, commitment, and research, but it will ultimately pay off and contribute significantly to a company’s success.