Holistic marketing

Holistic marketing
See also
Internal marketing Social media optimization Public relations in marketing Human resources management Quality policy Marketing department Digital marketing strategy Marketing information system Conglomerate diversification

Holistic marketing is a marketing strategy that considers every demarch important and crucial in reaching the company's goal. It means focusing both on external cooperations and also on internal relationship inside the organization.

History of holistic marketing

Holistic marketing is in fact an evolution of a traditional marketing concept that was firstly mentioned in the 1950s. At the beginning of 21st century the strategy from fifty years ago seemed to be a little outdated and in need of some upgrades that will allow it to be more successful and to bring better results. Because of that, many experts and professors started to look into the theory of marketing and then during the first decade of 21st century holistic marketing started to be talked about.

Four components of holistic marketing

Holistic marketing considers every aspect of marketing action is essential for company's success. It recognizes four main components that creat it:

• Internal marketing

Focusing on the 'inside' of the organization, internal marketing refers to planning and executing activities that ensure creation and improvement of information exchange processes between the coworkers in the company. It makes sure that there are exchanges all throughout the structures: from management to the workers, from the board to the departments, between and inside the departments, etc. Holistic marketing believes that this will cause every employee to be motivated and care even more for the success of all of the company's projects.

• Integrated marketing

Integrated marketing (IMC) is the aspect that makes sure all of the actions that company takes are sending the same, unified and unique message. Whether it is a loyal customer or a potential client, the message he receives from the organization must be consistent, because the sudden change could be distracting and, in effect, scare people off. It takes advertising, sales promotion, public relations, direct marketing, and social media, all of them with their methods, strategies, tactics and channels, and creates one, big unified tool for the company.

• External marketing

When internal processes connected with marketing are ready, the company then focuses on external marketing - commmunication with the customers. It doesn't only consist of advertising, but also personal selling (one-to-one communication with the client, usually by the paid representative of the company), sales promotion with all the activities that are meant to get the response from the customer as fast as possible. Another aspects of external marketing include PR activities, sponsorships, social media, digital and direct marketing (texts, e-mail marketing, social media platforms - all of the ways company uses for contactin the client directly.

• Relationship marketing

Relationship marketing is focused on creating a special bond with the client, even if his input in company's success is minimal. Company is aware that it cannot exist without its clients, so this is why these relationships are one of the most cared for. The main goal of relationship marketing is maintaining such a bond that will profit the company itself, but also the stakeholders.

Examples of Holistic marketing

• Integrated Marketing Communications (IMC): This is a holistic approach to marketing that incorporates all types of communication tools, such as advertising, direct mail, public relations, sales promotions, social media, and digital media, to create a unified message.
• Brand Management: This is a holistic approach to managing a company's brand, which includes developing a strategy for the positioning, look, and feel of the brand, creating brand guidelines, and implementing tactics to ensure the brand is presented correctly and consistently throughout the marketplace.
• Customer Relationship Management (CRM): This is a holistic approach to managing customer interactions and relationships. It involves using digital tools and data to build a 360-degree view of the customer, enabling companies to provide better customer service and understand customer behavior.
• Content Marketing: This is a holistic approach to marketing that involves creating and sharing valuable content, such as blog posts, videos, podcasts, and eBooks, to attract and engage potential customers. The goal is to build relationships with customers and drive sales.
• Social Media Marketing: This is a holistic approach to marketing that involves using social media platforms, such as Facebook, Twitter, Instagram, and Snapchat, to reach and engage potential customers. Companies can use social media to build relationships, drive traffic to their websites, and boost sales.

Advantages of Holistic marketing

Holistic marketing is a comprehensive and unified marketing strategy that considers all aspects of the company's marketing efforts. It allows organizations to create a comprehensive, long-term and successful marketing plan that focuses on all aspects of the business. The advantages of holistic marketing are:

• Increased customer satisfaction and loyalty: Holistic marketing allows companies to focus on understanding their customers better and connecting with them on a more personal level. This helps to create strong relationships with customers and keep them loyal to the brand.
• Improved product and service quality: Holistic marketing forces companies to look at the entire customer experience, from the initial purchase to the after-sales service. This helps to identify areas where the product or service can be improved, which can lead to increased customer satisfaction.
• Increased efficiency: Holistic marketing requires companies to focus on all aspects of their operations, including internal processes, product development, customer service and marketing. This helps to optimize the process and reduce expenses, leading to greater efficiency.
• Increased market share: Holistic marketing focuses on creating a unified marketing strategy, which helps to create a distinct brand identity. This can help to increase brand recognition and create loyal customers, which can lead to increased market share.

Limitations of Holistic marketing

Holistic marketing is a comprehensive approach to marketing strategies, but it does have some limitations. These limitations include:

• Cost: Holistic marketing strategies are often expensive and require a great deal of resources. This can be a problem for small businesses who don’t have the capital to invest in such strategies.
• Time: Holistic marketing strategies take time to implement and take effect. This can be a problem for businesses that are in a hurry to see results.
• Complexity: Holistic marketing strategies can be complex and require a great deal of effort to coordinate. This can be a challenge for businesses that don’t have a large staff or experienced marketing professionals on hand.
• Lack of Focus: Holistic marketing strategies can sometimes lack focus because they are so comprehensive. This can be a problem for businesses that need to focus on specific areas of marketing.
• Lack of Control: Holistic marketing strategies can be hard to control and manage. This can be a problem for businesses that need to be able to control the direction of their marketing efforts.

Other approaches related to Holistic marketing

One-sentence introduction: Here are some of the other approaches related to holistic marketing:

• Relationship marketing – This approach is focused on creating and maintaining long-term relationships with customers. Relationship marketing helps companies build loyalty and trust, which leads to higher customer retention and repeat purchases.
• Integrated marketing – This approach is focused on creating a unified marketing message across multiple channels. This helps create a cohesive and consistent brand experience for customers.
• Data-driven marketing – This approach uses data and analytics to inform marketing decisions. Data-driven marketing helps companies better understand their customers and create more effective marketing campaigns.
• Permission marketing – This approach is focused on gaining the explicit permission of customers before sending them marketing messages. This helps build trust and loyalty, as customers are more likely to engage with messages they have specifically requested.
• Experience marketing – This approach is focused on creating an engaging and memorable customer experience. Experience marketing helps companies create an emotional connection with their customers, which leads to higher customer loyalty and engagement.

In summary, holistic marketing takes into account all marketing strategies, from relationship marketing to experience marketing. It is focused on creating a unified and consistent brand experience for customers and gaining their trust and loyalty.

References

• Cătălin C. M., Andreea P., Adina C.(2014) "A holistic approach on internal marketing implementation", "Business Management Dynamics", Vol. 3;
• Dončić D., Perić N., Prodanović R. (2015) Holistic marketing in the function of competitiveness of the apple producers in Bosnia and Herzegovina "Economics of Agriculture" vol. 2;
• Mahajan P. T., Golahit S. B.(2017) "Downcast Enrollments: A Desperate Need of Holistic Marketing for Technical Education" "International Journal of Management and Humanities", Volume 3

Author: Olga Muryn