Marketing -Heart of any Business
In this world where there are millions of different types of brands selling their products one thing is common in them ie, Marketing. The world is changing day-by-day and with this change the needs of people change new products enter in the market some products become obsolete but one thing never change ie, marketing even during lockdown all the businesses did cost-cutting but I don’t think they would have done any compromise in marketing because it is the only medium to aware the consumers about their products and services.
So, till now I have spoken a lot about marketing and its importance for any business so one question ie, what is Marketing?
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Many people say that marketing starts after a product has been made and is ready for launch but actually marketing starts before creating a product. It starts with understanding customer and customer’s needs which leads to creating a product that fits. Now we know when does marketing starts with this a further question arises does it end?
NO, it never ends even if a customer has bought our product and is satisfied with it marketing still doesn’t stop we have to keep our existing customer happy by communicating with them and taking reviews from them about the product and services and feedbacks about how we can improve it for them.Building trust is very important and it is the most expensive thing in the world, building relationship with the customers help in selling more products (even more expensive) to them.
One thing to be noted is that product is always the most important thing in a business it is bigger than marketing. A bad product with good marketing will accelerate the product to its death. For example, suppose a Company X is a sports company and has come up with a badminton racquet which is of a below average quality and has done a good level of marketing for the product .Suppose 100 customers bought it they weren’t satisfied with the product this means these 100 people will never buy this product again and they will refrain the other people known to them to buy the product .This chain will keep increasing and will lead to death of the product.On the other hand, a good product with a good marketing at the start will start selling itself in the market it won’t be needing much level of marketing . For eg- Iphone. This tells us about the importance of Strong Word-of-Mouth. It plays a major gameplay in the market and can make a product shine or can kill it.
How to start selling any product or service in a competitive market?
Today the competition is huge and entering in the industry is a challenging job but nothing is impossible . Entering the market with a unique angle ie, selecting a particular niche and selling our product/ services won’t be as difficult. Instead of becoming no.1 in the market we can become only 1 . For eg- Practo (online doctor consultancy app), Uber ,Ola, Swiggy, Zomato . They are popular in a particular segment in the industry and some brand names have become verbs like
Google- nowadays most of the people say Google it! instead of search it on internet as Google has acquired around 80% of the market of search engine . Competitors- Mozilla firefox, Safari etc
Zoom- After the lockdown classes, Conferences are being taken online and the Zoom has come out to be the major player and the online meeting is now referred to as zoom call!. Competitors- Google Meet, Microsoft Teams etc.
There are many more examples but I think this much is enough to understand that search for a problem and finding its solution it is the halfway across building a brand.
Become a warrior by mastering one weapon than remaining soldier by knowing all the weapons.
Types of Marketing
Marketing is a very broad concept and it almost seems like an endless thing. From sponsorship to advertisement in Boards and banner in a sports match to Celebrities marketing for any product on Facebook and Instagram. Marketing comes in various forms but today when everyone is using mobiles ,laptops and huge amount of population has WIFI’s at home a new method of marketing is ruling which is Digital Marketing. Digital marketing is very much different from the traditional marketing and it has many advantages over the traditional Marketing.
Digital Marketing v/s Traditional Marketing
Traditional Marketing - This kind of marketing has been used for a very long time and is still very popular but it is not as effective as digital marketing .Here advertising is done through Tv ads, Newspapers, radios etc.In a country like India most of the people are still reached through these mediums ie No. of TV households in India is 200 million homes with 4–5 members per household ,Newspaper is 465 Million homes and radio reach is 65% population. But these kind of ads are generic and wide targeting also the major population which has access to this media doesn’t have much spending capacity to buy the products.Only 30–35 Million people in India has the buying power to buy products therefore it is not worth to spend so much to reach a population of 30 million in an country of 1.3 billion people .
Digital Marketing- In India as we have seen our target customers are 30–35 million and this population has Laptop,Mobile ,Internet Connection, Credit Cards etc and this population is more active in Instagram, Facebook, Youtube etc so Digital Marketing is the smarter way to reach this population as it is cheaper than Traditional Marketing and it is specific to audience and and is more effective. Lead Generation is more in Digital Marketing as compared to Traditional Marketing.
CATT Marketing Funnel and Framework
Wealth = n^CATT
[n] Niche = Our success and wealth depends on the Niche we choose. Our Niche mostly depends on our passion and talent which drives us to improve everyday and we enjoy our path towards success.
[C] Content= Create useful contents that attract people from your Niche ie, Blog posts ,videos ,lead magnets, live webinars etc.
[A] Attention= Drive attention(Traffic) to your content using SEO, Social Media, Paid Ads and referrals.
[T] Trust= Build trust with your audience with trip wires, marketing automation and retargeting using deep marketing ie, communicating directly with them.
[T] Transaction= Converting leads into customers with natural sales method.
Integrated digital Marketing
One mistake which is observed in most of the brands using Digital Marketing Techniques is they do advertising through a single medium ie, either through social media ,email or google ads and that is the major reason why they don’t get enough leads through ad. Marketing by following the CATT funnel using all the Digital Marketing Segments is called Integrated Digital Marketing it is kind of a working engine of CATT funnel and it never fails because no customer will first pay for any product without having any knowledge and experience about it and CATT funnel method is the best way to catch customers.
Building a Personal Brand
People to people trust is more deeper than a people to brand and having a personal brand is very advantageous.
A personal brand becomes an influencer and brand ambassador for the companies they run. Having a good name in the market makes it easy to launch a new product or run a new Company.
Now the question arises how to build a Personal Brand?
- Learn- Learning skills through concepts and practice.
- Work- (work = Job, Freelance or own project) Putting the new skills to work and to go from practice to implementation.
- Blog- Write about whatever learned and experienced through work. Writing helps in better understanding and also building our Personal Brand.
- Consult- Start consulting other businesses and charge for consulting working it will give authority and give you a name in the market.
- Mentor- Mentoring helps to scale up our understanding to a whole new level.
- Startup- This is the final stage of this process and it won’t be much successful if all the stages prior to this aren’t done properly.
The above image is called MassTrust Blueprint by my mentor Digital Deepak and he has followed the same path and today he is the best Digital Marketer in India.
So till now, I have tried to project all my knowledge about marketing and building a Personal Brand. This Article is an Assignment given in Digital Deepak Internship Programme
To Join the Internship Programme click on the following link and get yourself registered.
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