– By Mr. Vikram Kumar, Managing Director, SRV Media Pvt. Ltd.
Marketing is a term that evokes different responses depending on who you are communicating with. Though, irrespective of the industry or product, every good marketing solution begins with a well planned and thought out marketing strategy and analysis. When we talk about industry-agnostic marketing solutions we talk about solutions that are not limited to one channel or one media. Industry agnostic means to have cross-functional value, something that can be used for the need of any market or solution without being limited. It is different from how a product or industry-driven market strategy would function and works on the fundamentals of finding a marketing solution keeping in mind that the end consumer wants access to the relevant information about a product instead of worrying about the channel he has received it from or the method of marketing used in each channel.
Industry agnostic marketing is technology and end-consumer driven. Marketing is a vast and experimentative field; that being said, there is still a need for a few standards that you return to no matter which product or service you are advertising. These standards are designed keeping in mind the intricacy, challenges, solutions, opportunities, and peculiarity the market may manifest as a whole. A few examples of such marketing options are Social Media marketing, content marketing, print media marketing, email marketing, marketing via industry influencers, brand marketing, and event marketing. Irrespective of which industry you are utilizing these solutions on, they always tend to work.
We need to understand why such solutions are important and why we should empower them.
Tried and tested: Industry agnostic solutions are more widespread and have been tried out by different companies belonging to different sectors of the market. There are numerous case studies and research available to rely on and strategize upon when it comes to such a marketing solution. The best is, you can analyze and study the effect of each marketing strategy on specific industries and choose the best for the work at hand.
Consumer focussed: The main idea of an industry-agnostic marketing solution is to be user-focussed. The complete planning and strategizing are done by understanding and working on the needs and requirements of the user and hence mostly is a big hit. Since it is consumer-focussed, these strategies can be applied to any product or service and customized according to the target audience.
Market friendly and research-based: Since these marketing solutions are designed for all, it is based on thorough market study and research. It gives a more holistic view of the market and also talks about the market from different perspectives. The study, when done on the whole market as a consuming unit instead of being industry-specific, gives us a wider spectrum to work on and also identifies the short-comings a market might have as a whole. It is a more detailed study and helps immensely in planning since a broader picture is taken into consideration.
Cost-effective: Marketing is costly. When you want your company to reach the masses, you have to keep a budget just for that. When you look for industry-specific solutions for marketing, it becomes more costly as there is a lot of customization and work needed to tweak marketing based on the needs of only that industry and hence a lot of time and effort is consumed. On the other hand, a holistic marketing approach might give the same result without costing that much and hence can be considered a wiser choice.
Flexibility concerns: When we deep dive into industry-specific marketing solutions, we tend to forget being customer-centric and become product and technology-centric. The problems with such solutions are that they are redundant to a different market. For example, door to door marketing might do wonders for household goods where you have a physical product to demonstrate, but the same might completely fail when applied to a service market because no one wants to know about an app or a website from a salesman standing at the door.
The conclusion therefore is that industry agnostic marketing solutions are better equipped to handle any challenge a market throws than industry specific marketing.