Have you ever confused about what is Marketing is all about? Do you think marketing is only selling?
Do you know what are marketing methods to follow for your business? Let’s discuss more this.
Today we are going to discuss marketing and its methods/strategies and its effectiveness.
Marketing is very vast and evergreen for any Business. Without marketing a business is like a car without an Engine. So, you cannot move the car (your business) until you have the engine (marketing). It is like trying to drive/move a car (business) without an engine (marketing). So marketing is like an engine for any business. Without marketing, you can’t run your business.
If you are in the marketing field/running any business then this topic is for you. Let’s learn more.
Now we will discuss more marketing and its methods :
- The Fundamentals of Marketing
- Digital Marketing vs Traditional Marketing.
- CATT Marketing Funnel
- Integrated Digital Marketing
- Personal Branding: MassTrust Blueprint
The Fundamentals of Marketing
What is Marketing?
Marketing is not only selling the products, its starts before creating the product. So, you need to understand the customer and his needs and should create the product that fits.
When you start marketing you need to establish a place in a customer’s mind about your brand and product. I mean to say that you should create a product which will fulfill customer needs.
Customers will be happy and have trust in your brand and product only when you create trust in terms of quality and services.
Dr. Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures, and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.”
Marketing is based on science, not on creativity.
“The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available” – Peter Drucker
If you make a product based on the customer’s needs and taste, The product will definitely get customer attention to buy the product. If you have a great product it always sells itself.
Your customers become your ambassadors. When you build trust in customers’ minds customers will start sharing products and services with others, this is word mouth marketing.
Let’s take the best example of the Apple iPhone product
By developing a product that was unique and solidly designed, Apple was able to capture the market in a way no other company had been able to do before. People liked their mobile phones started telling everyone they knew about them.
Apple did promotion of its iPhone launch extensively of course. But the word of mouth lessened the need for traditional advertising over time. It has built its uniqueness in terms of quality and services. So, customers have expectations for the iPhone whenever they launch new mobile, and every time Apple launches a new phone it’s a guaranteed hit, because of its standards and trust.
Because of its uniqueness and trust, Apple became the no.1 brand in mobile phones. Now it’s a strong brand in people’s minds.
Digital marketing vs Traditional Marketing
What is Traditional Marketing?
Traditional marketing refers to marketing products and services offline. This means we can take it as a print, broadcast, direct mail, phone, and outdoor advertising like billboards. From newspapers, Tv to radio, this method of marketing helps reach their targeted audiences.
Everyone encounters some sort of traditional marketing in their everyday lives, whether it’s getting the mail or your daily newspaper/Tv ads.
Traditional marketing is a very useful technique when targeting your local audience.
But downside
- it is very expensive
- It cannot be measurable and
- We cannot target a specific audience
What is Digital Marketing?
Digital Marketing is marketing your products and services using online marketing techniques such as social media marketing, SEO, search engine marketing, email marketing, etc.
“Achieving marketing objectives through applying digital technologies.” – Smarter Insights
Digital marketing has become widely popular as internet usage has been increased and It became routine for customers to make research and purchase online.
Digital marketing is not only cost-effective when comparing to traditional marketing it is also the best way to connect with the targeted audience worldwide. Through digital marketing, Businesses can have full control of their audience growth and can measure their results easily.
Advantages
- Global reach
- Cost-effective
- Measurable results
CATT Marketing Funnel
It is important to generate sales through marketing. Marketing funnels are used to track customer engagement with your product or service. By choosing an appropriate marketing funnel, which helps drive more sales, customer interaction, and build trust within your target market
To have a good knowledge of the market to generate more wealth, we follow the CATT funnel. It depends on your niche. The more you know about your niche, the more wealth you can generate.
Formula :
Wealth=n^CATT
n= Niche
C= Content
A= Attention
T= Trust
T= Translation
Niche(n): Niche is finding and choosing the right market requirement and fulfilling that requirement with your skills and interest. Selecting the right category from the market where you want to start your business is one of the best parts. Before starting any blog/website you should choose the right niche where you will target your customers
The figure below shows what niche is:
The above figure shows how to find your niche. To find the proper niche you should satisfy all the three conditions required.
The three conditions are as follows:
- You must have Passion
- Talent and
- There should be a market for your passion and talent.
If you are talented and passionate about the niche and there is no market then it is useless because no one will have the interest to buy your products.
Secondly, you have passion and there is a market requirement but you don,t have talent then your competitor will overtake you in launching better and service than you.
Finally, if you have talent and there is a marketing requirement but you are not passionate about it, then again you lost by giving the chance to someone else to grab the opportunity and get succeed.
So, it is necessary to have all these three requirements to find your niche and get succeed.
Content(C): The next step after selecting your niche will be creating content for your niche. You should create content that will attract more customers from your niche. Content can be in the form of blog posts, videos, images, emails, and webinars.
Attention(A): Grabbing attention is increasing the traffic towards your content using SEO, paid ads, social media, and email marketing, and this will help to increase traffic at your website or blog or any social platform.
Trust(T): Building trust is a very important part to make your target customers buy your products and services. Strong brands are built only with trust, But it usually takes time.
With the help of emails and social media, it has brought the companies close to their customers. Communicating and have proper feedback with customers and solve their issues are part of building trust as it helps the customers to know more about your products and services. This will help you to retarget the existing customers.
Translation(T): Once you build trust it is easy for you to converts the leads into customers through natural sales. Natural sales will happen When you have your targetted customers who are trusting and ready to buy your products.
Integrated Digital Marketing
Integrated Digital marketing is where you will integrate multiple marketing strategies into one frame.
Here’s what it typically entails:
- Search engine optimization (SEO)
- Content marketing
- Social media marketing
- Email marketing
- Paid advertising (or pay-per-click advertising) campaigns
By using an integrated digital marketing strategy you can get more customer attention and trust than using an individual strategy and you can create a more influential online presence.
When you engage with your customers using multiple strategies it will definitely make a place in your customer’s minds on your product and brand and people will try to find more about your products and services once they have been attracted to your product. So it is a kind of marketing technique where it will have a huge impact on your customers which will help you to convert your target customers/leads into sales.
Personal Branding: Mass Trust Blueprint
Personal branding is the practice of promoting/marketing yourself. Through personal branding, you can establish yourself as a brand in the market.
You should have your story as a personal brand to make the people know better about you, who you are? what do you do? It is all necessary when it comes to personal branding. When you become personal brands you will become an influencer to the brands.
Personal branding is the process of developing and maintaining a reputation and impression of an individual.
Personal brands have a unique combination of skills, experience, and personality.
Advantages
- A personal brand can become an influencer for many companies to grow.
- Once you established a personal brand, you can become an influencer for the companies you own. You can boost your company’s growth.
Disadvantages
- If you are starting your personal brand to sell, then it is not the right choice as it cannot be sold.
- It cannot be invested.
The Mass Trust Blueprint captures the cycle of stages you can go through to do so.
- It will start with learning a new skill set.
- When you put this into practice by working as a freelancer or an employee, this will leads to practical understanding.
- Creating a Blog on your experiences. When you make your learnings into a blog it will help you to build your personal brand.
- With your experiences and skills, provide consultation in your field and get paid.
- Mentoring others who are in the same field. This makes you go deeper and scale your understanding.
- Finally, build your own startup company.
Conclusion:
We have discussed marketing and its different strategies and how it is affecting your business. We have discussed digital marketing and traditional marketing, CATT marketing funnel, Integrated Digital Marketing, and personal branding. Whether you are running an online business or offline but marketing plays a crucial role in getting customer’s attention towards your product and services. It all depends on your marketing strategies. Nowadays digital marketing has a huge impact on businesses when comparing to traditional marketing. Using different marketing methods/strategies marketing will become more effective for any business growth. Hope you understand better about marketing and feel free to comment your views on this topic.
