Marketing - Now and Ever
There is a famous saying in English - Change is the only constant. It suits well to Marketing. It continuously has changed and evolved over the years and is presently taking a new shape setting a new way for the future. Like change, Marketing will also be one of the constants in the world.
In this article, I'm going to discuss various elements of marketing which will benefit students, professionals, digital marketers on how they can embrace it, evolve and benefit others.
Everyone is talking about Digital Marketing today. With the explosion of online business, Digital Marketing is seen as the future. But one must remember Digital Marketing is more of Marketing and less than Digital.
At the end of the day, you have to give value to your customer through your product or service so that the customer builds trust in your brand and remains loyal. This never changes. Interested to know more?
Law of Marketing - Quick glance
When I was going through the video on The Law of Marketing by Deepak as a part of my internship with Digital Deepak, I realised that Marketing is more of a science.
Marketing is about understanding your customer's needs, providing him with the right communication at the right time, solving his problem or ending his search through your product or solution.
That way, Marketing is a means to an end. In the end, the customer should feel that he has taken the right decision by choosing your product or solution. Providing continuous support after the sale is done is equally critical. Once that is achieved, the customer will start becoming loyal to your brand.
Key elements of Marketing
Through these key elements of Marketing, you will understand how you can make marketing work for you and how you can become a successful marketer whether you are working for an organization or you are an entrepreneur.
The fundamentals of Marketing
One must always remember that marketing is done to sell a good product or service.
When your product/service is good, you may need initial marketing efforts to create awareness. But once the customer has understood that your offering is good, the product/service sells itself. At this juncture, you may need not spend much on marketing instead focus your efforts on customer service and getting testimonials.
There is nothing like word of mouth promotion for your offering. If the customers feel that your product/service is really good they will help the sales through word of mouth.
Digital marketing vs Traditional marketing
Digital marketing is the best medium to reach the affluent English speaking population in India with a spending power of 100 million users. However, India is a much bigger country. To reach a wider audience you still need other marketing mediums such as TV, Radio and Newspaper.
With COVID-19 there is an acceleration towards digital and online shopping consumption. But still, the majority of the people in India do not have access to the internet.
Depending on the product/service you offer and determining your target customers you can use both Digital and Traditional marketing in a ratio that suits your business. Please remember, Traditional marketing still matters and it is not going to become irrelevant in a hurry.
CATT Marketing Funnel
What is CATT Marketing Funnel? It is the recipe for your marketing success.
The formula for success in Marketing and the resultant accumulation of your wealth is
Wealth - n⋀CATT
[n] Niche - Your success and wealth depends on the Niche you choose
[C] Content - Create useful content that attracts people from your niche. 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 an audience with tripwires, marketing automation and retargeting
[T] Transaction - Convert your leads into customers with natural sales methods
The most important thing is to identify your niche. When you identify your niche which solves the problems of customers and provides solutions to their needs, then you can explore many ways in marketing your niche through the above CATT Funnel.
Illustration of CATT Funnel. Source - DigitalDeepak.com
Integrated Digital Marketing
Integrated Digital Marketing is a holistic way of marketing where you have a quality content, get more leads and prospects read your quality content through digital platforms like social media, emails and paid ads which will enable the prospects to turn into your customers.
When it comes to Integrated Digital Marketing, Quality Content is the key. Take for example the movie industry. With a good movie in hand (Content), the promotion of the movie takes place through several platforms. When the audience watches the movie and if they like it, they give good reviews about the movie.
Through this word of mouth, a new set of customers would like to do a search about the film through reviews and ratings. And if the reviews and ratings satisfy them, they go to online booking sites for booking the movie.
A lot of social media platforms, search engine, paid advertisements, email marketing come into play during pre-watching for promotion of the movie, booking of tickets through online and confirmation, the campaign operates until you watch the movie.
The life of the campaign will continue only when the movie is good. The audience will keep the campaign alive through word of mouth and writing good reviews which will, in turn, get more audiences.
This, in short, is the Integrated Marketing Campaign.
Here is the illustration of how Content Marketing is the centre of all your Integrated Marketing Efforts. Source - DigitalDeepak.com
Personal branding is a key to make your customer trust you, your product/service. Take, for example, Elon Musk. He is more famous than SpaceX, Tesla. Richard Branson is more famous than Virgin Group. Their personal branding tends to rub off on their brands, companies that will help them get more clients/customers.
You can develop a brand for yourself in your identified niche. When you become an expert or an influencer in your niche, you can start creating videos, blogs and promote them through your social media channels.
Frequently done, customers will start noticing you when you provide value to them and gradually you will become popular through word of mouth.
When your personal brand evolves, there are plenty of opportunities that will open for you like Consulting, Mentoring. These will be a good launchpad for your Freelancing work or starting a Digital marketing agency.
Consciously build your Personal Brand and evolve into an Expert in your niche to grow in your chosen field/niche.
Above illustrated figure reveals how you can evolve your personal branding. Source - DigitalDeepak.com
Through this evolution of personal branding, you build something called, Mass Trust. This circle is never-ending. You can progress from Learning a new skill, Working on projects in your learned skill, Document your work in your Blog, Start giving Consultation to your prospective customers, friends, start giving Mentorship programs for your prospective audience and build a strong customer base.
This will eventually lead you to have a successful freelance business or starting up a Digital Marketing Agency.
According to me a person who is good at Marketing will never fail in his life. Even if the business he starts doesn’t do well and becomes a failure, he knows how to bring back his failed business to success or start a new business and make it a successful one.
With India’s market is ever-evolving and the rise in usage of mobile phones bringing out large numbers of new customers from Tier II and Tier III cities every day, you need to know that you have a large market to play.
When you get your marketing practises right and when you have an offering which will solve the problems for the customers or fulfil their needs, there is no limit for your success.
Learn Marketing, highlight your work consistently, consciously build your personal brand, provide the offering that matters to the people and reach the Sky!