THE IRREPLACEABLE COMPONENT OF BUSINESS – “MARKETING”
Have you ever tried to search for the true meaning of marketing? If not then this article will help you to get some knowledge about marketing to some extent. A lot of people have misconceptions about marketing. It is not just about sales, promotion or quality products. These all are the elements of marketing but the aim of marketing is to know and understand the customer needs so well that the product or service fits customer and sells itself and make selling superfluous.
To understand marketing clearly, we will be discussing various important topics related to it. The topics are as follows-
1.The Fundamentals of Marketing
2.Digital Marketing vs Traditional Marketing
3.CATT Marketing Funnel
4.Integrated Digital Marketing
6.Mass Trust Blueprint
Let’s get into the details:
The fundamentals of marketing
1.The marketing is based on science and not just on creativity because marketing starts before creating the product. It starts with market research, analysis & understanding your customers’ needs that leads. To do marketing in the correct way you need to send the right message to the right person, at the right time.
2.As a marketer your no.1 goal should be building your target audience by creating a marketing funnel. A marketer needs to make sure that he/she has a strong word of mouth element when it comes to products & services or whatever it is.
3.Remember, if your product is great enough it will convert your customer into brand ambassadors and this can only happen when you build trust and the best way to build trust is through word of mouth marketing because people trust the recommendations of other people more than ever in today’s day and age.
4. Advertising, copywriting & sales are one of the elements of marketing and not the whole marketing. In marketing its not just helping people and creating the product but also having a good perception of the product.
5. In terms of knowledge, marketing has a very long shelf life because it is rooted in human psychology and understanding market. As a topic, it will never go out of fashion.
6. Marketing is all about good communication, building, connection, understanding economics & psychology. If you communicate well the product will sell itself. You should be able to transfer your thoughts to customers effectively and it doesn’t mean sophisticated English. People do not always enjoy heavy vocabulary and complex sentences. Ultimately, it is a game of perceptions and perceptions can be created only by human and not by robots.
7. Marketing is the most valuable investment in a business because it gives direct returns. If you want to do marketing then never try to convince them of anything instead you need to show them how you are going to make their life easier…There are no favours involved. It’s a win-win for everybody.
Here is a example of marketing done in right way:-
- Genius marketing by Red Bull – when they started selling their product in London, they knew they were up against the stiff competition. The soft drink/energy drink sector is just a massive uphill battle with around a 90% failure rate. Red bull has a unique and weird product. The taste is unfavourable and they want to sell it at a higher rate. when they started, they needed a low budget way to increase brand awareness out there. They choose a very simple route. They just went to every single trash can in London and filled them with empty red bull cans. So, this created a perception that there was a massive demand for this unknown product, and now we all know that this bull is dominating its niche and is the brand leader in this sector and number one for the top of head recognition.
Digital Marketing vs. Traditional marketing
- Traditional marketing means print, broadcast, direct mail, phone, and outdoor advertising like billboards. From newspapers to radio, this method of marketing helps reach targeted audiences. It is not only one of the oldest forms of marketing, but also one of the most researched. Marketers lean towards this method because it’s tried and true. Everyone encounters some sort of traditional marketing in their everyday lives, whether it’s getting the mail or your daily newspaper.
- Digital marketing is any marketing a company conducts online, such as paid social media ads, email marketing, and PPC advertising. Digital marketing has become wildly popular due to the cultural, technological, and societal shifts around us. Digital marketing is essential for businesses today. It’s become routine for consumers to conduct research and make purchases online. Just this week, I’ve looked up lunch spots, priced couches, and picked an eye doctor — all using the internet.
CATT Marketing Funnel
This is a sales funnel which is followed by so many successful marketers and it will give the most effective results.
let’s understand this:-
- [N]= niche: Niche is a combination of talent+market+passion. The product or speciality you will focus on. You need to find your niche and if you try to be everything to everyone then you will be a nobody to everyone.
- [C]= Content: A content is what attracts the audience and persuades them to buy your product or service. Blog posts, videos, images help to engage the audience with your content.
- [A]= Attention: You can do paid ads, viral marketing or any other method of marketing to reach a broader market. You can upload your content to social media, books, e-Books, youtube channel or your website.
- [T]= Trust: So this step is definitely going to take some time and you should have some patience. It is important to build trust with your audience, nurturing them with impressive content and providing value to them.
- [T]= Transaction: Now that your audience has trust in your product or service convert them into customers with a natural sales method.
Integrated Digital Marketing
Integrated digital marketing is a method of engaging customers and prospects with your company or a brand that combines all parts of marketing communications to work together and assist the customer along their journey of awareness to loyalty and advocacy. It requires businesses to synchronize their marketing efforts across various media in real-time. Campaigns can no longer be thought of as vaguely measurable units of marketing expenditure. This is done in realistic timeframes. CATT funnel is very linear but the way the CATT funnel is executed is through Integrated Digital Marketing Framework. So, we have two frameworks working in tandem and this is done in realistic timeframes. A momentum is boosted then people end up trusting you.
Personal branding is the practice of marketing people and their careers as brands. It is an ongoing process of developing and maintaining a reputation and impression of an individual, group, or organization. Whereas some self-help practices focus on self-improvement, personal branding defines success as a form of self-packaging. Your personal brand is how you promote yourself. It is the unique combination of skills, experience, and personality that you want your followers to see. Always try to be the only one and not the No. 1 and enter a competitive market but have a unique angle to thrive in the market.
why it is important??
See, if you are good at something and if that the world does not know about it then nobody is going to hire you because it is not enough to be good at something. People should be aware of your skills and that is when people will reach out to you. People want to communicate or hear from people & not from brands. But the downside of a personal brand is it cannot be invested in & it cannot be sold. The upside is it can give rise to many brands from his/her influence. A personal brand becomes an influencer and a brand ambassador for the companies that they run.
Mass Trust Blueprint
1. Learn-Learning new skills through understanding the concepts, remembering the facts, and practising certain procedures should be your 1st priority.
2. Work-Implementing your newly learned skills at work is necessary. By using these skills in real-world would help you to master and enhance your knowledge that you have acquired during learning.
3. Blog-Blogging is something you should always try to put across all your work and experience in the form of a summary. Writing makes you understand better moreover it will help you to build your personal brand.
4. Consult- After building a personal brand by writing a blog. The next phase is to start consulting other people or businesses rather than working for them. Reaching out to people and companies will make you more progressive.
5. Mentor-Mentoring others is indeed a great feeling, who aspires to become like you. It will increase and deepen your understanding of that topic to an advanced level. By mentoring others you can master any skill.
6. Startup-This is the time when you start your own business with the understanding that you have developed about the market, the problem and respective skills over a period of time. This will make you complete.
Now, if you are reading this line then it means that I’ve managed to seek your attention for some time & was able to provide you with these facts of marketing and I hope that this article has cleared your thoughts on marketing. With time when there comes an opportunity to expand your market reach. You should combine your knowledge with marketing strategies to reach the target audience.