What is Marketing?
This is what comes into our minds when we talk about marketing and If put in simple term, marketing is the act of driving profitable customer action. It spans the full
scope of strategies and tactics organizations use to position products and services in the marketplace, and motivate target audiences to make a purchase.The main motive of marketing is to sell.
The 4 P’s of Marketing
Marketing revolves around four things: product, price,
promotion, and place. Tactics and channels change, but these are the concepts everything else revolves around, and they’re principles that never change. They determine the full lifespan of the product.
This is what a company sells, whether that means a physical good, or a service (such as
Consulting or a subscription. From a marketing perspective, the following
would need to be determined:
How many different product variations or lines should be sold? For example, a car
manufacturer might strategize on which vehicle categories to build (such as family cars,luxury cars or crossovers as per the the requirement of the customer.
This is just “how much stuff costs,” right?
Well, sure. But there’s more to it than that.
If marketing is all about driving profitable action, then prices need to be set at a level the market
How should discounts be timed and applied? Should the product be put on sale at certain
times of year?
Does it make sense to give customers options for payments? A car dealership might offer
financing options, rather than expecting people to pay the full price up front.
Promotion-If a product launches but no one cares, does it even exist?
Well, yeah, technically it does, but it’s just taking up space if no one’s buying it. Once a product is
out there, it needs to be promoted so people know it exists.
Which channels will be used to promote the product? This includes online and offline
Where will it be promoted? Online? Offline? In stores? At events?
What message needs to be communicated? What copy and verbiage will tell audiences what
the product is all about, and encourage them to buy it?
Place-The right product needs to be in the right place for people to find it and buy it.
Where is the product distributed? Online? Offline?
Will specific locations get the product? For example, if you sell cold weather clothing, you
might not distribute as much to Rajasthan and you will in Some hilly area..
Developing a Marketing Strategy
Marketing can be boiled down to the following:
Who are you trying to reach?
What do you want them to do?
How will you encourage them to take that action?
How will you measure marketing’s impact on influencing that action?
Marketing Strategy-What It Is & How It Helps Getting The Right Audience
If you had a map and an itinerary though, you would have been prepared to make the most of
your time, and actually accomplish something.
That’s what strategy gets you. A sense of direction, so you can use your time effectively,
understand why you’re doing your work, and increase the odds of achieving your goals.
Figuring Out What You Want Them to Do
Once you’ve determined who you need to reach, the next step is figuring out what’s required to
move them toward a sale.
For some companies, this is simple: convincing customers to grab a product and buy it at the
store. But, there may be actions you drive them toward before reaching that step (such as
getting onto a mailing list or becoming a social media follower).
For others (for example, service-based companies), you might want to get leads (potential
customers) to place a phone call for a demo or a consultation before they commit to
Understanding the Marketing Funnel
When determining actions you want your audience to take, it’s useful to understand how the
marketing funnel works.
Funnels help illustrate where customers are at in the buying process, from being unaware of a
product (or having a problem), to researching different options, down to making an actual
Marketing is fundamentally about understanding customers in order to develop products and services that meet needs”
CATT Marketing Funnel
What is CATT?
C — Content
T — Trust
“CATT = Content>Attention>Trust>Transaction”
CATT is a market funnel framework. It can be applied to any business product or service to convince the customer. To get wealth from the CATT funnel below is the formula.
Niche : Niche is the specified target area to provide better service.
How to choose the right niche?
For example, you are a content writer. You are expertise in automobile-related articles. You can convey a message to a specific Audience. Having talent is not enough. You must have a passion for writing content as well as be good at marketing too.
Content- It is the main part.It is what they are going to consume and they should get the message of what you are trying to convey through that.
- It can be a blog post.
- Could be a video.
- The content may be a live webinar.
- It might be a free pdf.
- It could be a free service you are providing.
You created valuable content on your blog or promotional video. You need to promote your valuable content via the use of SEO, Paid ads, Social media platforms, and also referrals to get the traffic.
When You meet the customer’s expectation, then those can become your leads.
Building trust is not an easy task.But one can do so by showing off some of your skills for free so that audience gets the idea about your Abilities. You can build trust with your leads through marketing automation.You can do so via a series of automated emails to gain the lead’s trust.
After building trust with the leads using the right content which meets their needs, then the customer take the further action i.e. Buy the product or service from you..
Digital Marketing vs Traditional marketing
What’s the difference between the two and which one should you use? Selecting the right marketing type is an age old question on every marketer’s mind. Here’s everything you need to know.Put simply, digital marketing is using digital
channels such as websites and social media as tools for marketing communication.
If you’re using social media you will be well versed in the adverts that pop up in yourstream — that’s digital marketing.
Traditional Marketing on the other hand involves traditional channels, like billboards and printed media. Think Don Draper in Mad Men brainstorming TV commercial ideas and copy for Coca-Cola.
The main difference between digital and traditional marketing is the medium through which an audience encounters a marketing message. While traditional marketing uses traditional media like magazines and newspapers, digital marketing uses digital media, such as social media or websites.
Of course traditional marketing doesn’t mean it’s old fashioned. Traditional marketing still plays an important role in people’s lives with the ever growing need to step out of the digital world.It’s just that traditional marketing needs more budget whereas digitally it can be done at a much less price.
Traditional marketing channels include:
Outdoor (Billboards, bus/taxi wraps, posters etc)
Broadcasting (TV, Radio etc)
Print (Magazines, newspapers etc)
Direct Mail (catalogues etc)
Telemarketing (Phone, text message)
Also Read : Dare To Dream
What is integrated Digital Marketing?
Integrated Digital Marketing encompasses the idea of creating a unique form of expression that’s easy to identify in all of the channels your customer uses.It’s like using a single language to speak in different situations.
That means it’s a strategy that blends all your marketing tactics. Then, each campaign and approach complement the other, creating a consistent image on the mind of the users and tracing a journey for them to go on.
By being consistent, you can become memorable to your audience.But integrated Digital Marketing also means having a well-structured and well-defined marketing plan.
That includes taking care of the online presence by managing different channels of the digital world.It involves making sure your organization is on the web, where your customer already is.All those efforts should point in one direction only and express the same image to the mind of the users.
Positioning a website on top of Google SERPs must be a top priority when you work with digital strategies,such as Content Marketing. Organic search should lead prospects to pages that represent clearly who you are and what you’re offering.
That means your content must be relevant to the audience, engaging them to take the next step in the buyer’s journey.
Creating a consistent marketing plan is the key to achieving a higher and faster ROI (Return Over Investment).
Every effort will reward the enterprise with more sales and excellent results, increasing revenue, and allowing for rapid growth.
That is because it’s easy for leads to engage when you tell a clear, consistent story.
As we could see in some examples previously mentioned, you can enhance your conversion rates with an integrated plan.You will talk to your prospect with a unique language and offer them a great experience everywhere they go.
So, they will have no choice but to sign up to discover more and become a lead.When all your marketing efforts point in one single direction, it’s easy for buyers to understand where you want them to go.
Personal Branding — Mass Trust Blueprint
Personal Branding is important to build because having a Talent won’t get you work.People should know why they choose you over someone else.Customer will always trust others opinion over a brand.
Learn- Read a lot of stuff about your niche and about marketing in General.Expand the horizon of your mind by getting to know about new ideas,concepts and upgrade your skillset.
Work- Practice the skill that you have learnt and do so until you master that.Like a sword maker sharpens the sword so can you do with your skills when you implement that again and again.
Blog- Announce your dreams to the world.Let them know that,this gets you in a position to do those things.You can also help out other people in their journey which will eventually help in brand building.
Consult- In order to be a successful personal brand you have take a few risks.One of them is to do consulting by yourself.By doing so you get boost to your personal brand Image because that would be cheaper for the businesses too.
Mentor- Teaching others the the understanding you grew up in the business will help you get on a new level because of the phases you have to go through doing this.So,It’s a great way to get your personal Brand on another level.
Startup- Start a new venture i.e. It could be a product or a service that you can offer.Do what you are passionate about that way it won’t feel like work.
Indian Economics- Economy of India has a lot of potential in future to grow as there is a large number of people of young age which can work more,earn more and will buy more.The purchasing power will also improve in coming years and will contribute more to the economy too. But this could be possible if they have enough skills to work.
Personal Experience In Sales- Being an owner of a small business for a few years I know that the customer should be satisfied and trust you. These are the main when building a relationship with a customer. He should know what the customer needs.
He might need a High Class product and obviously everyone else is also selling like you. But why should he buy from you. Now here comes your part you can either give a best class service or discounts to the consumer. That way trust builds and you get loyal customers over a long span.