Are you an entrepreneur or a business owner?
Are you confused how to promote your business & offerings?
Do you feel advertising is the same thing as marketing?
Would you like to know the various ways you can reach your ideal target audience and ensure better sales conversions?
If you answered “yes” to any of the above questions, this article is for you!!
This article contains information about:
- Fundamentals of Marketing
- Traditional Marketing vs Digital Marketing
- Integrated Digital Marketing Framework
- Building a Strong Brand
- Personal Branding
- CATT Marketing Funnel
- 6 Step Mass Trust Blueprint
Let us begin by understanding, What is Marketing?
“Marketing is an administrative and social process through which individuals and groups obtain what they need and desire by the generation, offering and exchange of valuable products with their equals”. – Philip Kotler
Establishing an amazing business is merely the first step. Attracting customers requires marketing. Marketing spans the entire process of delivering a product or service to a customer: from choosing which products to sell, where to sell them, how to price and promote them and even how to retain existing customers.
In order to understand marketing further, let us look at the basic fundamentals of marketing:
Marketing is a science:
Marketing is about connecting with your audience in the right place, at the right time and sending the right message to the right person. Hence it is said that marketing is a science and not just a creative process of publishing ads, slogans, banners and so on.
Thus, it is important to note that advertising, copywriting and sales are just components of marketing and not the same as marketing. So, if you master marketing, all these components will fall into place.
Marketing is about communication:
Good marketing is all abut good communication. If you communicate well, the product sells itself. This does not mean that communication must only be in English, as it has been proved that ads in a local/regional language are also able to get great results. Good communication means that you are able to transfer your thoughts effectively to your target audience and thus you are able to be a good marketer. A good marketing strategy is to understand your target audience really well and keep communication extremely simple and to avoid jargons.
Marketing is a game of perceptions:
When a customer collects information about a product or sees advertisements, promotions, testimonials, social media feedback, etc. relating to a product, they immediately develop an impression about the product – this is called as customer perception. Perceptions about a brand are created in human minds and not by machines, thus it is extremely important for a business to understand the market as customer perception can make or break your brand.
Marketing is deeply rooted in human psychology as customer perception plays an important role in their buying behaviour. Everything that a company does affects customer perception. For instance, the logo or brand colors, the price of the product, the discounts and sale offer, the way the products are displayed, product packaging and even after sales service – everything impacts the customer perception. Therefore, marketing is a game of perceptions!
So now let us look at Traditional Marketing vs Digital Marketing:
While traditional marketing might exist in print ads, phone communication, or physical marketing, digital marketing occurs electronically and online. This means that there are a number of endless possibilities for brands including email, video, social media, or website-based marketing opportunities.
Here’s looking at Traditional Marketing vs Digital Marketing in depth:
- Target Audience
It’s easy to reach out to local audience/consumers with the traditional marketing methods
Digital marketing lets you reach the targeted audience/consumers/customers globally from all over the world.
Traditional marketing is more of a personal approach as it is very easy for marketers to have a person-to-person relationship in informing the public or promoting their brand’s name.
The physical presence of the marketers is not at all required in digital marketing, yeas physical presence will be a bonus but is not required and digital marketing allows the marketer to reach a finite number of consumers easily.
Traditional methods of marketing provide the hard copy of product(s)/service(s) description which can be read again and again.
Digital platforms provide the description in softcopy over the website, or through videos, YouTube, etc. which can be accessed anytime anywhere as per the consumer’s requirement and it provides paper-free documentation.
Very less interaction is involved in traditional marketing as the promotion mediums are not flexible enough to incorporate the customer’s interaction.
Digital marketing, on the other hand, offers several digital platforms to the consumers/customers/buyers like social networking sites, e-commerce websites, different apps for collecting their feedbacks where they can put their views about the product(s)/service(s).
Traditional marketing is expensive as it involves printing, radio/tv advertisements which cost more to the company.
Digital marketing is less costly than the traditional method of marketing as everything is online and the use of social websites does not cost even a penny. Based on the marketing requirement the business can opt for paid ads if they want to.
The result analysis is complex with traditional marketing as the companies need to rely on the surveys and the findings of the market.
On the other hand, in digital marketing, data and facts are recorded and stored online which makes it easy for the marketers to analyze the marketing result.
With traditional marketing methods, the company must wait for weeks or months to get the result.
Online marketing or digital marketing gives quick results and thus it is easy to get real time marketing results.
In traditional marketing consumers cannot choose to skip advertisements or other things that are causing interruptions.
Digital marketing/online marketing methods let the consumers/customers/buyers skip the interruptive part and continue to engage with the product(s)/service(s).
As traditional marketing methods does not provide real-time results, drafting the marketing strategy takes time as it is dependent on the marketing results.
Digital marketing provides real time results; thus, strategy refinement becomes very easy and the marketing team can opt to change or update their market strategy as per the market results.
Traditional marketing involves one-way communication as marketing mediums are quite rigid.
Online marketing, on the other hand, promotes two-way communication and thus helps to satisfy the customer and make the customer feel that they are being listened to and served.
What is Digital marketing?
Digital Marketing encompasses all marketing efforts that use an electronic device or the internet. Businesses leverage digital channels such as search engines, social media, email, and other websites to connect with current and prospective customers.
How to Generate Traffic using Digital Marketing:
- Facebook Ads
- Google Ads
- Content Marketing
- Social Media Marketing
- Affiliate/Referral Traffic
- Brand Search
- Word of Mouth Traffic
Why is Digital Marketing Important:
Today, you need to meet your potential leads and target audience where they are already spending time the most: on the internet!! The search queries in India itself has 20x growth in the last 5 years.
You can achieve specific digital goals using a digital marketing strategy plan that will help your business via carefully selected online marketing channels.
Integrated Digital Marketing Framework:
Build an integrated digital marketing plan that considers the creation, repurposing and publishing of content that will work across all your digital channels. The most successful cross-channel digital marketing campaigns deliver content and message through a variety of channels:
Image Source: Digital Deepak
The above flowchart describes the process of integrated digital marketing. Each one serves a unique function:
- Content: ‘Content’ means the creation of original content or the curation of content for the benefit of your audience. Helps in educating the customers about the industry and your product or service. Quality and relevant content helps establish authority, builds trust, customer engagement, and build a loyal tribe.
- Email: This is the best communication tool especially when used with permission (i.e. opt-in subscribers) where people have opted-in to receive communication from the sender, so the email subscriber will open an email and definitely pay attention to the message. Emails help to send out information about new content and also to follow up with the prospects to remind them about products or services they want to buy.
- Social Media: sharing the links of your content on social networks will help it go viral. It’s essential to be active on social media profiles and engage with the users. Even if they don’t necessarily buy, people are more authentic and honest with their feedback and suggestions in a social atmosphere.
- Search: Helps potential customers to find your content and your offering by directly searching for it. This works best when you do not try to manipulate it. Doing basic on page SEO and then doing all the other things right should be enough to get targeted traffic from the search engines. When good content is published and shared on social media it has the potential to attract natural links and that’s off page SEO at its best.
- Ads: Use paid advertising inside the social media websites to increase followers and engagement in your websites. Paid advertisements, whether it is digital display ads, social network ads, co-sponsored email ads or PPC ads on search engines – all have a good potential to ignite and speed up the entire integrated digital marketing process.
Building a Strong Brand
As we have seen, a brand is a set of perceptions and images that represent a company, product or service. While many people refer to a brand as its logo, tag line or audio jingle, a brand is actually much larger. A brand is the essence or promise of what will be delivered or experienced and marketing is the channel to become a strong build.
The purpose of marketing is to build the brand and capture a position in the minds of the consumers. Once you have developed a good brand, your dependence on marketing reduces as the trust is well established.
Being at the top of the mind whenever the consumer thinks of a product or service is the ultimate aim of every brand as it not only leads to increase in sales, but it also helps the brand become popular through its word of mouth marketing strategies and thus leads to brand loyalty. Examples of this include brands such as Google, Xerox and Zoom which now have become verbs!
Remember “Don’t Be The Best, Be The Only!”
The way to do this is to select a micro niche and become the leader in that.
We shall discuss niche selection in a little while but first let’s understand
Personal branding requires you to position yourself as an industry expert, elevate your credibility, and differentiate yourself from the competition, to increase your circle of influence, and have a larger impact.
It is not enough that you are the best, it is far more important that you are known as the best, and for that marketing yourself, your skillset, products and services is crucial. The best known will always beat the best – so be visible.
CATT Marketing Funnel:
This is an important step-by-step marketing formula for wealth creation that you must know about, especially in your business journey:
Wealth = n^CATT
[n] Niche: Wealth starts first by selecting your niche. Your success and wealth will depend on the niche you select. Niche selection is a combination & analysis of identifying your Talent, The Market Needs & Your Passion to serve and make it a profitable venture. Niche marketing focuses on one section of the market that has high potential to connect your product or service and zeroes in on strategically selected venues and media platforms that have high concentrations of the targeted consumers.
Image Source: Digital Deepak
[C] Content: Creating useful & quality content regularly will attract your tribe and interested audience in your niche. Content can be through various means, such as blog posts, videos, lead magnets, live webinars and so on.
[A] Attention: Driving attention (traffic) to your content using SEO, Social Media, Paid Ads and Referrals.
[T] Trust: Building trust with your audience using trip wires, marketing automation, and retargeting audience who have visited your website or watched and engaged with your content previously.
[T] Transaction: Converting leads into customers with “natural sales”. Natural sales means when your product is explained in such a way that it clearly defines the current market situation and highlights the customer problems, with the product/service benefits and how the product/service can take the customer from their current state to their desired state, and also how it fills the gap in the market so then customer is instantly interested and realizes the value of this offering and is not pressurized into buying -there is a natural conversion and hence this transaction is called natural sales.
Sales Channels for doing Natural Sales:
- Sales Copy on Email
- Sales Copy on Sales Pages
- Sales Videos
- Live Webinars
- Automated Webinars
- 1:1 Sales Calls – Phone Calls or Zoom
Mass Trust Blueprint :
Image Source: Digital Deepak
The 6 Step Procedure in the evolution process of a personal brand are:
- Learn: Learn a new skill through concepts, facts and procedures. Understand the concept, remember the facts and practice the procedure. Practice – Practice – Practice.
- Work: Implement your learnings in the real world – this could be through a particular job assignment or via freelancing or through your own projects.
- Write/ Blog: Write what you have learnt and experienced through your work. When you write not only will you understand it better, but you are also building and strengthening your personal brand as others are definitely watching and reading what you are publishing and posting.
- Consult: Interested audience and clients will be ready to pay you for your advice, so you can start 1:1 consulting business and work with them rather than working for them.
- Mentor: Mentor a group of people who wish to learn from you and become like you. Mentoring means consulting many people at the same time and is therefore cost effective. Mentoring impacts people, helps you scale your business and also helps you understand your niche subject in a deeper way as the learning is a continuous process with changes in the industry.
- Startup: Startup your own product or service business with a combination of your understanding of the market scenario, the existing problems customers are facing and communicating & presenting how your own skills will take the customers from their current state to their desired state. With all your learnings and experience you can launch new products. As this learning and implementation is a continuous cycle and gains the trust of masses hence it is called “Mass Trust Blueprint”
I would like to end with this quote:
“The aim of marketing is to know and understand the customer so well, the product or service fits him and sells itself… The aim of marketing is to make selling superfluous” – Peter Drucker
To all my entrepreneur friends if you found this article useful please leave a comment.