In 2018, a study found that your average adult spends around 142 minutes logged onto their social media accounts. By 2020, the amount of time people spent scrolling through their pages rose by 3 hours – and the number of people that are expected to access social media sites is only expected to climb within the next year. Social media marketing is critical for businesses to gain brand awareness, especially since consumers are spending less time out and about due to the pandemic, and more time browsing the web and shopping online. If there was ever a time to use social media to market your business, it’s now.
Marketing vs. Strategic Marketing
They are not the same.
As a marketing executive, I am often asked, “What is Strategic Marketing?” But clarifying one definition is hard, when marketing alone is challenging to define. Take a look at Merriam-Webster sometime. There is a vagueness to defining marketing that makes it nearly impossible to firmly grasp. But for the sake of simplicity and this article, lets go with this:
Marketing Collateral supports the services you’re offering
The classic definition of collateral is “something promised as security for repayment of a debt, to be forfeited in the event of a default.”
Some synonyms include ‘security’ and ‘guarantee.’ So, how does that translate to marketing collateral? Well, just as traditional collateral proves that someone will pay their debt, your marketing collateral proves to potential customers that you are who you say you are, and that when you say you’ll do something, it will get done. It’s a broad term, encompassing the entire collection of media that supports the products or services you’re offering.