Bogdan Terzi: Marketing as a principle of thinking and algorithm of actions for every business person
Bogdan Terzi is a creator and head of the international advertising company Amillidius, Ukrainian marketing and business expert, the author of the book “Entrepreneur’s ABC" and of many publications in the media. He also has experience in producing various projects: from national awards to viral sports Internet-shows. As a business person, he is an active philanthropist: the money he raised from selling his book was donated to the children’s funds; he is also a participant of the charitable project “Pomoghi” (Help)
His company’s distinctive social mission, according to Bogdan Terzi, is the dissemination of marketing knowledge which will prevent entrepreneurs from mistakes and financial losses. In Amillidius physical offices, which have lately been opened around the globe, those interested can enroll for free seminars. “Business is a foundation of any country’s economy, while marketing is a foundation of the business. At Amilidius, by sharing our experience and knowledge, we open new opportunities for growth and development for business people”, - says Bogdan Terzi, speaking of his chief goal.
“Marketing and business are identical concepts”, argues Bogdan Terzi
Bogdan, could you elaborate on what “marketing” means for you and why it is so critical for today’s business?
- Marketing is not a component of business, it is business. This is a set of processes of production, sales, promotion, and interaction with buyers.
Let me explain it in more detail. Many entrepreneurs act by the principle “I produced - I sold” or “I bought for smaller money - I sold for bigger money”; they leave out the entire chain of actions between these two milestones. And it is catastrophic for business. No matter how great the goods you produce are, without analysing your target audience and competitors, without studying market demand and launching efficient advertising campaigns as well as other important aspects, you will not achieve good sales and yield desired profit. Many business people, however, are sure their brilliant idea alone will do the job. They miss their flaws and then get puzzled why their qualitative goods or innovative services are not demanded on the market. The statistic is quite distressing: 90% of the new businesses fail during their first year and the survival rate of numerous start-ups is 1%. However, should they have had a clear marketing plan, should they have worked through every element of the long chain of processes, they would have had far better chances to make it.
Do small and medium-size businesses need marketing as much as large ones?
- Everyone needs marketing! Absolutely any business does: either it is a large production or a small store. The only difference resides in the kit of marketing tools, their combination, the intensity of use, and the budget allocated for the marketing activities. But everyone has the same purpose - profit. With a competent approach and investments, modern marketing tools make it possible not only to study the demand but even create it.
What is more, both politicians and media figures need marketing. To succeed, they have to develop their personal brand. And this asks for marketing technologies and tools. By the way, politics is an excellent manifestation of how PR works when someone wants to boost their ratings, but also how black PR can discredit an opponent. These are just different marketing technologies.
When business is doing well, the entrepreneurs tend to move marketing down on the priorities list when breaking down their budget. Meanwhile, their competitors can earn many times more. And it is highly unlikely they save on the marketing. It means, they will eventually poach your customers and deprive you of profit by kicking out of the high league. Customers will always prefer Nike or Adidas sneakers over “no-name” sports footwear even if it is of better quality. And even the most advanced hi-tech smartphone will have a rough time being compared to an iPhone.
Not so rarely, companies hire a marketing expert or even an entire marketing department. But they still do not deliver. Inevitably, a business owner gets disappointed in marketing as a tool for business development. What can be done about that?
- Today, one marketing expert will not cope with global tasks by themselves. A high-calibre specialist costs big money, but very few businesses opt for that. While for an average salary, you get a multifunctional manager, who will draw up ads, run social media profiles, but will never be a strategist. Thus zero results. The marketing department is not a 100% solution, either. Its staff suggest and test different solutions, working off their salary. They do not guarantee you any result as they are not monetarily motivated to deliver. What makes all the difference is signing a contract with an agency: failure to fulfill the contract’s provisions entitles the other party even to bring the contractor to court. When you come to the marketing agency of high repute, you can be sure that all the negotiated terms of the contract will be accomplished within the prescribed period and this will enhance your company’s position on the market.
Bogdan Terzi: Amillidius - profound knowledge and tangible results
You declare marketing awareness is your company’s social mission. What are some educational projects you are developing?
- At Amillidius, we seek to teach the fundamental principles of marketing to as many people as possible - both to those running their companies for a long time and those only aspiring to start their businesses. The understanding of how marketing works and the ability to use its main tools will at least prevent these people from losing the money they invested in a business, and at most will help to develop their business and continuously increase the profit.
For absolutely anyone interested, we conduct free seminars, where the company’s leading experts and I speak about the essence of marketing in plain words. With the case study of high-profile companies, we look at the key issues and mistakes many entrepreneurs face when promoting their businesses. While for those who would like to know more, there is advanced fee-paying training, including crash courses where, within just one week, one can learn major marketing methods and techniques. In small groups working in real-time mode, the participants create a brand, design the line of its products, master the techniques of customer engagement and sales. This is how our crash courses cover the key areas of marketing strategy.
Whom would you recommend your crash courses?
- Amillidius training is an opportunity to learn from the professionals’ experience. After completing a crash course, you will be versed in marketing at the strategic level. Such training is designed for all entrepreneurs, who realize the significance of marketing in business development, and also for those who seek a highly-paid job in the marketing department of a top-tier company.
Today, when the world economy is reeling, the systematic approach to business development has never been more crucial. The recession will be over one day, while the knowledge you gain will remain with you forever. And this is your chance to survive and beat competitors.