If you’re interested in advertising, you’ve probably heard about the 5 C’s of marketing at one point or another.
Not only is it a catchy phrase, but it’s also beneficial in contributing to the marketing decisions you make for your company.
They’re not a complete guide about how you should be advertising your business, but they can still serve as a decent overview of what you should keep in mind while doing so.
Without further ado, let’s get into the 5 key areas that you need to consider in the marketing process!
The 5 C’s of Marketing
The 5 C’s of marketing are Customers, Company, Competition, Collaborators, and Context/Climate.
None of these 5 key areas exist in a vacuum. Instead, they interact with each other to give you a better indication of how you should design your marketing campaign.
Through an analysis of each point, you’ll have a holistic understanding of micro and macro factors which can significantly impact the way your content is received.
Let’s look at each one in turn.
The 1st C – Customers
This is as basic as it gets; who are the customers of your product? How does your product benefit them and their lives? What is the product concept to them?
For this, you have to seek out what motivates customers to buy from you. Studying market size, growth, demographics and psychographics, social listening, and seasonal factors are a few ways that you can better gauge the customer’s attention and interest in your product.
Today, due to social media monitoring, it’s easier than ever to know what consumers are saying about your brand. Technology has brought us to the point where companies have dedicated groups working for social listening to attain key insights into what customers are saying.
You can check out some tools for social media monitoring here!
Once you know what people are saying about your brand, you’ll know better about what direction you want to take your strategy in, and what sensibilities you want your ads to appeal to.
The 2nd C – Company
Can your company meet the needs of the customers? Do you have the resources to cater to their demands? Do you have the right product line and technical experience?
One of the best ways to know more about the potential your company has to offer is by doing a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats).
Learn how to conduct a SWOT analysis here!
A SWOT analysis will help you bring critical insights into your company, and bring you to a better conclusion about how you can allocate resources to fulfill customer demand.
The 3rd C – Competition
One of the big 5 C’s of marketing is keeping an eye on your competitors. It may appear that they have nothing to do with you, but keeping tabs on their strategies is just as important.
What are they offering that’s different from your products? How are they setting themselves apart?
Knowing their strategies can be handy, and we suggest looking at brief SWOT analyses for the competition.
This is another one of the 5 key areas in which social media monitoring and social listening can come in handy. Be up to date about what the customer is saying about both your brands!
This will help identify areas in which you can improve, and will also serve as an indication about what you can do differently in your campaign strategy.
The 4th C – Collaborators
Do you have anyone on board from the outside who can help you out?
Having paid or unpaid collaborators can be of great help in getting the word out about your brand. One of the best ways to get people on board is through YouTube sponsorships with YouTubers that cater to the demographic you’re targeting. We spoke about this in detail here!
Social media has made it a lot easier to reach potential consumers as well. We don’t just mean that you should send out an ad for your company. Try reaching out to influencers on Instagram, and ask if they’d like to be sponsored or paid to put in a good word for you to their followers.
Other things you can do are identify suppliers and distributors that can help you out!
The 5th C – Context/ Climate
What do we mean when we say climate? We mean the geographical, regulatory, social, political, and economic climate, etc. Note the context under which your marketing campaign will be run.
These are macro-environmental factors and are external. They will have an inevitable impact in shaping the moods, opinions, and thoughts of your customers.
The way these things shape the opinions of your customer base serve as a decent indication of how they’ll receive your campaign.
Instead of a SWOT analysis, you need to use a PEST analysis to study the Political, Economic, Social, and Technological context.
These are all elements that are bigger than your campaign. They’re holistic, out of your control, and terrifyingly enough, can have a significant impact on the effectiveness of your campaign.
There you have it!
You must remember that studying these factors does not mean that you don’t do anything about them.
If you have an understanding of the 5 C’s of marketing, you have to learn how to incorporate your findings in your marketing and advertising methods.
It’s not enough to have the results if you don’t utilize them!
Which of the 5 C’s do you think is the most important?
Let us know in the comments!
For more information about the latest digital technologies, visit our website!