The hottest movie of the summer has been 'Deadpool & Wolverine'. This is the third installment of the franchise and is on its way to making billions of dollars at the box office.
Is this a surprise? No.
Did it have a lot of fans before this summer? Yes.
Is it the best movie of the year? Probably not.
Did they have a lot of word-of-mouth & hype leading into the premiere? Absolutely.
Did they spend money on marketing despite all of the above? Abso-[bleeping]-lutely!
Starting a new business or launching a new product can feel like you’re directing your own blockbuster movie. There’s excitement, anticipation, and a lot of hard work. But imagine if the big studios in Hollywood only focused on making the movie and completely ignored promoting it. How would you know when and where it was hitting theaters? Just like in the movie industry, marketing is a crucial part of your business success.
So, if the big players are spending that much on marketing, shouldn’t you be investing in it too?
Why Marketing is a Must-Have in Your Business Plan
Picture this: you’ve poured your heart and soul into developing a new product. It’s innovative, high-quality, and solves a real problem. But without marketing, it’s like creating the next summer blockbuster and leaving it in the vault. No one will know it exists. Marketing ensures your product gets in the spotlight.
Marketing isn’t just about flashy ads and catchy slogans (though those are fun too). It’s about creating a strategy to connect with your target audience, building brand awareness, and driving sales. From social media campaigns to email newsletters, your marketing plan is the roadmap that guides your product or service from the idea phase to your customers.
The Big Budget Comparison
Let’s take a closer look at the movie industry. When a studio decides to make a movie, they don’t just think about the production costs. They also allocate a substantial portion of their budget to marketing. Why? Because they know that without marketing, even the best movie could flop. Marketing campaigns create buzz, generate interest, and ultimately drive ticket sales.
Marketing budgets for a movie can be as much as 35-50% of the total budget. Back to Deadpool for a moment. Deadpool had a reported total budget of $200M with $100M going to marketing. Don’t believe us? Look it up we’ll wait.
That’s a huge investment, but it’s necessary to ensure the movie’s success. Similarly, for your business or product launch, a well-planned marketing strategy is crucial to reach your audience and achieve your goals.
The Marketing Mix
Your marketing plan should be a blend of different strategies tailored to your business and audience. Here are some key elements to consider:
1. Branding: Establish a strong brand identity that resonates with your target audience.
2. Digital Marketing: Utilize social media, SEO, and email campaigns to reach potential customers where they are.
3. Content Marketing: Create valuable content that educates and engages your audience, positioning your business as an authority in your industry.
4. Public Relations: Build relationships with media outlets to gain coverage and credibility.
5. Advertising: Invest in online and offline ads to increase visibility and drive traffic to your website.
Don’t Be a Marketing Maverick
Just like a movie director wouldn’t shoot a film without a script, you shouldn’t launch your business or product without a marketing plan. Neglecting marketing is like leaving your masterpiece on the cutting room floor.
Marketing is an investment, not an expense. It’s the bridge between your product and your customers. So, whether you’re a startup or launching a new product, make marketing a priority. Your future customers (and your bottom line) will thank you.
Ready to put your marketing plan into action? Visit us at www.envision38.com to learn how we can help you craft a winning strategy.
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