Mirage To Mirror Of Modern Marketing !!
You’ve chalked out your business plan, designed the logo, all legal formalities are done right, and ready to kick start your business.
Wait for a second……
Do you know what exactly your customers want from you? Does your product solve their problem? Are they ready to trust you?
Knowing marketing can answer all your questions as your marketing approach will define the success of your business.
Are you guys too confused about “mar-ke-ting”??
You just landed on the right article. Just spare a few minutes and give this article a read and I assure you will able to find most of your answers and feel upgraded in the knowledge of marketing.
If you are a marketing student, blogger, professor, this may not be a regret at all.
We all know how marketing has changed its dimensions as everything is now going digital. I understand it’s important to have the digital capability but at the same time, it’s equally important to know the basics of marketing. If you don’t know the basics then I am sorry to say it’s highly impossible to have a successful business.
Lets begin with understanding what MARKETING is exactly about !!
The AMA’s definition of 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.”
In simple words, “Marketing refers to a cyclic, on-going process of two-way communication between business and customers building trust, loyalty to maintain a healthy relationship of give and take, having a mutual benefit to both the parties”
Coming to the MODERN MARKETING → DIGITAL MARKETING!!
Digital marketing encompasses all marketing efforts that use an electronic device or the internet. Businesses implement the use of digital channels such as search engines, social media, email, and websites to connect with current and prospective customers.
i.e, It refers to the use of the digital medium through which marketing is done.
Now we know what exactly marketing is and how digital marketing has taken space in the worldwide market.
Just to have a more clear idea let’s see some of the major differences between traditional marketing and digital marketing. It will also give you the reason how traditional marketing changed to digital marketing
Traditional Marketing !!
- It includes the promotion of products & services through Broadcast (TV), Telephone, Hoardings, Door-to-door, Sponsorship, etc.
- It is highly difficult to measure results in terms of reach and thus difficult to determine the impact of your ad.
- It involves one-way communication as the marketing medium is quite rigid.
- It is expensive as it involves printing costs, tv advertisement charges, which costs a lot to the company.
- It does not provide real-time results. So, drafting of the marketing strategy takes time.
- If your product is generic and has a wide targeting TV ads can reach millions.
Digita Marketing !!
- It includes the promotion of products & services through electronic media like Websites, Social Media , Google ads, Video marketing, etc.
- It is easy to measure using various analytic tools.
- It promotes two-way communication and thus helps to satisfy the customers and provide them the comfort zone of feeling that they are heard and served.
- It is cost-effective as advertisements are done online with the least investment.
- It provides real-time results hence makes the strategy refinement process very easy and actions ae taken immediately.
So I guess now you must be having a clearer picture regarding what was traditional marketing and how digital marketing has taken over !!
One more thing this doesn’t mean traditional marketing is old-fashioned. It is still important in people’s lives along with the ever-growing need to step out in the digital environment. It completely depends on the type of product or service. Generic products with a wide targeting don’t need much online promotion, TV ads can reach a million at a low cost.
For example, Starbucks.
Time for some tips!!
- Don’t be the No.1 be the only one.
- To build a strong brand one should choose a category and become a leader in that category. Deciding where to compete is half your
- If you cannot be a leader in a category be a leader in the sub-category.
For example:- Hotel industry can be a category and specializing in Bed & Breakfast hotels can be a sub-category.
“Enter a competitive market-but have a unique angle”
THE CATT MARKETING FUNNEL !!
We have now reached the stage where we are aware of the basics of marketing as well as modern marketing(Digital Marketing).
To establish a brand we need a market to sell and to sell the goods and services we need potential customers who will buy from us.
Strong Brand → Market→ Potential Customers
So now it’s the time to learn the journey of your customers, the path they knowingly or unknowingly follow before reaching the stage of payment. They are usually brought down through a “Marketing Funnel”.
Marketing Funnels are said to be the specialist of marketing strategy calling the use of different marketing techniques depending on the stage at which our customer is.
i.e. Different stages require the use of different strategies to be implemented to encourage the potential customer to be converted into a loyal customer.
One such marketing funnel called the CATT marketing funnel is one of the effective ones.
The CATT Formula in life:-
Wealth= n ^ CATT
Where, n → Niche, C → Content, A → Attention T → Trust, T → Transaction
- CONTENT:- The writeup of your advertisements, blogs, videos, live webinars, etc. should be an effective one so that it delivers the right and relevant content to your users. You need to educate the prospects about your products.
- ATTENTION:- Once you are confident with your content, then comes the part where your start asking your customers for their attention i.e. you start getting traffic for your content using SEO(Search Engine Optimization), Social Media, Paid Ads, etc.
- TRUST:– It’s the biggest asset in your relationship with your customers. Build trust with your potential customers using marketing automation, retargeting, etc.
As the proverb says “ Respect is earned. Honesty is appreciated. Trust is gained. and loyalty is earned.”
4. TRANSACTION:- After gaining the trust of your potential customers, you will be able to encourage them to the next step of commencing a financial transaction with your business i.e. monetary exchange between you(Seller) and your customer (Buyer) and you will achieve this through the natural sales method.
“If you want to go fast go alone, if you want to go far, go together”
This African proverb correctly states why Integrated Digital Marketing is important. It encircles the idea of establishing a distinctive way of expression that’s simple to understand through all the medium used by your consumers because in today’s digital era prospects convert into customers through different channels.
It proves that your performance over the internet can help you attain the desired success by implementing all the different marketing strategies proportionately. This integrated system will enable you to be more impactful and credible in the digital world.
Various Digital marketing strategies/tactic include:-
1.Search Engine Optimization (SEO)
2. Social Media Marketing(SMM)
4.Search Engine Marketing(SEM/PPC)
The above diagram explains exactly how each component of digital marketing is inter-dependent at the same time praises each other.
Knowing a part of it will lead you to half the way to your success.
Now let’s consider this flow chart as a pretty good team and each marketing strategy as a team member.
- Content:- It forms the backbone of Integrated Digital Marketing. Acting as the team leader, it makes the supreme use of all the different marketing strategies through the blended marketing campaign. Content helps you build a good impression in your customer’s minds. It helps you and your website gain value and builds trust.
- Search Engine Optimization (SEO):- It helps in improving both the quality and quantity of website traffic, discovering your brand through organic results i.e unpaid. It includes search engines, understanding your consumer’s queries, and developing keywords similar to that so that you are recognized by search engines, as SEO ranks websites using the quality and relevance of your website.
- Social Media:- It proves to be a direct way of sharing your content with a focused group. It helps you find potential customers for your product and services by knowing their interests easily through Social Media platforms. Moreover, it gives you the chance to quickly responding to your customer’s feedback, queries, etc.
Basically, all work in real-time.
- Paid Advertisement:- It allows you to position your ad on the SERP(Search Engine Result Page) and pay only for the engagements through those ads. It helpful as it boosts the reach to more potential customers at a faster rate and generates more quality leads and maximizes your ROI(Return On Investment).
- E-Mail Marketing:- It helps you to draw and hold-on your potential customers with a personalized touch by sending messages that help you promote your brand, content, product, and services. It helps you build a long-lasting bond.
It works best when you use it with prior permission from your prospects by giving them the option of unsubscribing if not interested.
- Sell & Convert:- At this stage, you have gained enough attention and now your prospect is ready to be converted into a customer by taking actions which you direct them to take. i.e Making payments, subscribing to e-mails, etc.
Content → Backbone
SEO, Social Media, Paid Ads → Gains Attention
E-mail Marketing → Build trust
Sell & Convert →Transaction
THE POWER OF PERSONAL BRAND !!
“ Personal Branding is not about you. It’s about putting your stamp on the value you deliver to others”
– William Arruda
Your Personal Brand is the greatest gem you can have and establish a command on it. Your brand can help you trade better, build your career, start a startup, etc. It doesn’t matter what your goals are, personal brand can help you achieve them all.
A personal brand can give you opportunities to start multiple businesses from your influence. It makes it more credible, trustworthy in this Digital Age where gaining trust is the biggest issue.
“People want to hear from people not from brands”
You must be wondering how to go about for Personal Branding!!
Don’t worry hers a process of evolution of your own personal brad !
- Learn:- Gain or acquire knowledge of a new skill through concepts, facts & procedures. Just remember there is no limit to learning !!
understand the concepts → Rember the facts → Practice the procedure
- Work:- Now set your newly acquired skills to work. Move a step forward from practicing and start putting it to action. Implementing it in the real world will give you a better understanding and boost your confidence.
Work may include-Jobs, Freelancing, Own projects, etc.
- Blog:- At this step, you need to start writing articles. Write about what you have learned, experienced through your work, what you discovered in this journey, etc. Express your self to let the world know as well as for your better understanding. It will help you explore the hidden writer in you and also build a personal brand.
- Consult:- Now, at this stage, you have gained enough knowledge and experience towards a successful journey in building your brand. So, now you can start helping other businesses rise and promote themselves by giving them consulting services.
This will not only get you revenue but at the same time keep you updated and of- course keep enhancing your knowledge and experience.
- Mentor:- Now you are at a stage where you have enriched knowledge. So now you can start mentoring others who are at the initial stage where you were at some point in time. Help them be one like you.
Your experience and journey will help them resonate well.
- Startup:- Here comes the final stage where you are ready to start up your own business. Use your understanding that you have developed about the market, the problems you faced, and your own skills in this journey.
“Whatever you are thinking, Think bigger”
All The Best, Upcoming Entrepreneurs !!
I hope this article conveyed to you a lot and added some new learnings in your “LEARN DIARY”.Through this article, I tried to convey to you the story of building an independent career.
We started by understanding the Basics Of Marketing by knowing that Marketing is the building of a relationship between a company, a product, and a consumer by understanding the value of their needs.
We then came to Modern marketing(Digital Marketing)
Digital Marketing is the use of the Internet, mobile devices, social media, search engines, and other channels to reach consumers.
After this, we saw various Differences Among Traditional & Digital Marketing for our better understanding of the transformation to the digital world. The biggest being the medium or the channel of promotion/Advertisement.
Then we came to understand the path of the journey our prospects follow before converting to customers,i.e. The CATT Marketing Funnel.
Content → Attention → Trust → Transation
Then we understood that Integrated Digital Marketing is the best principle to be followed to achieve better results. It combines different digital marketing strategies in such a way that it works as a perfect team praising each element and giving the best possible results to a business.
Then finally we came to the end stage where we looked at how we can utilize all your skills and knowledge to grow yourself and establish a Personal Brand. i.e building a reputation in the public through your skills, knowledge, experience, and have an influence in the digital world.
It was a great pleasure having you spend your precious time reading this article.
“The best marketing does’nt feel like marketing”- Tom Fishburne
— — — — — — — — — THANK YOU !! — — — — — — — — —