The Covid-19 pandemic was a major turning point for online education, forcing institutions to pivot quickly to the online space. While many welcomed the change, some struggled to find their footing in the new digital and remote learning environment. In the midst of this unprecedented transformation, the concept of marketing took on a whole new meaning.

What Is Marketing?

In the context of online education, marketing is “the activity of promoting products or services, creating awareness, or building brands, in order to achieve business objectives.”

To put it simply, marketing is a combination of the following four functions;

• Product marketing
• Market research
• Advertising
• Promotion

Each function has its own set of objectives and a unique set of tactics, which together help an organization generate leads, retain customers, and grow a business.

Why Marketing In the First Place?

Whether you are a traditional brick-and-mortar business, a software company, or an online education provider, marketing is a function you will need to perform in order to achieve your business objectives.

Why? Well, for starters, people often research a company before they buy from that company, and now that they are more likely to do their research online, you have the opportunity to reach a much broader audience. In addition, with the right marketing, you can gain valuable insights into the needs and wants of your target audience, helping you develop products and services that satisfy those needs and wants.

Product Marketing

Product marketing is the process of actively promoting a product (such as an ebook, a software program, or a gadget) to consumers.

It is an essential function of marketing in the digital age because consumers have all the information they need at their fingertips, and they are likely to be influenced by what they discover through digital platforms.

So, if you are selling a product online, you have the option of utilizing several digital marketing tactics, including;

• Display ads
• Product reviews
• Video tutorials (e.g., How to videos)
• Social media marketing
• Affiliate marketing

Market Research

If you are unfamiliar, market research is the process of gathering information about customers, prospects, and their behaviors, in order to create a better understanding of what motivates them, what products they are interested in, and how you can satisfy their needs.

The most common form of market research, which you will encounter if you are selling a product online, is surveys. Whether you ask customers to participate in a survey or conduct your own survey (via email, for example), you are aiming to have a representative sample of respondents who provide valuable information that helps you refine your product and expand your business.

Advertising

Advertising is the process of creating awareness about your product or service in order to grow your business.

People often consider advertising to be “marketing,” but in reality, advertising is often treated as a separate function in companies.

While advertising can be used to promote a product, service, or idea, it can also be used to generate revenue or build a brand. For example, you may run a paid ad on a search engine to gain exposure and build a brand for your product or service. You can use paid search advertisements to target individuals based on product searches they conduct.

Promotion

Promotion is the process of getting the word out about your product or service, often through special deals, discounts, or freebies.

Companies will often use promotion to gain traction in the marketplace, gain popularity, and increase sales. For example, you may offer a free trial of your product, provide special discounts to people who sign up for your newsletter, or give away prizes to people who participate in your contest.

While the example above is for product marketing, you can use promotion in the form of discounts, giveaways, or customer referrals to gain trust, develop relationships, and gain new customers.

A Quick Primer on the Four Functions of Marketing

The above section provided you with a high-level view of product marketing, but in case you missed it, here is a quick recap of the four functions of marketing.

Product marketing is the process of promoting a product (such as an ebook, a software program, or a gadget) to consumers. Market research is the process of gathering information about customers, prospects, and their behaviors, in order to create a better understanding of what motivates them, what products they are interested in, and how you can satisfy their needs.

Advertising is the process of creating awareness about your product or service in order to grow your business. Promotion is the process of getting the word out about your product or service, often through special deals, discounts, or freebies.

In the context of digital marketing, marketing is “the process of promoting products or services, creating awareness, or building brands, in order to achieve business objectives.”

Each function has its own set of objectives and a unique set of tactics, which together help an organization generate leads, retain customers, and grow a business.

To learn more, check out this comprehensive guide to marketing by the American Association of Advertising Agencies (4A’s). Or, if you’re looking to dive into the nitty-gritty details, pick up a copy of The E-Myth Revisied: Why Most Small Businesses Don’t Work With Marketing and What You Can Do to Change That.