What is Marketing? (Law of Marketing)
Most people have in their minds and believe that marketing is something like creating a website, doing SEO, running ads and many more. Mostly these are important but they are just a part of the digital marketing process.
Marketing is not something you start after creating a product or service. Marketing is something that starts with your idea of creating a product or service. True Marketing happens actually when your product or service is sold by itself.
In other words, marketing is a process that begins with your idea of creating a product or service, not afterwards.
In this article, I have mentioned some of the most important things to know about great marketing, which I learned from the Digital Deepak internship program.
Marketing Comes In Two Types—Digital And Traditional Marketing.
Between the tried and true strategies of traditional marketing and the new and innovative strategies of digital marketing, there are many ways for businesses to capture the attention of their audience.
What is Digital Marketing?
Digital marketing is a way to reach and engage with potential customers using the internet and other forms of digital devices.
Common methods used in digital marketing are:
- Search engine optimization (SEO)
- Email marketing
- Content marketing
- Social media marketing
- Clickable ads
- Affiliate marketing
What is Traditional Marketing?
Traditional marketing is a way to reach and engage with potential customers using offline channels. These are the methods that have been around for decades and are typically used less often now.
Common methods used in traditional marketing are:
- Television or Radio
- Newspaper or Magazine Ads
- Billboards and Fliers
- Directly Mailed Postcards
Here Are A Few Things To Help You Get Started In The Marketing World.
Start With A Financial Goal
Whenever you start a company or a marketing campaign, make sure you set a goal. The goal you set must be realistic and challenging at the same time. Greater the challenge more the focus. Without a goal, all your efforts will be like arrows shot in the dark. The goal gives you the direction and the momentum to succeed.
Building A Great Product Or Service
Building great products or services is much more important than marketing them. When you spend a lot of money and time on marketing (like building a Website, SEO, Ads etc) rather than focusing on a product or service. I would say that may be the beginning of your business fall.
Elon Musk the founder of Tesla and Space X, once told an interviewer question ( What is the secret of your success?)Elon Musk replied: we do focus more on our product than marketing it.
When you focus on updating your product or service more and more, you do not think much about marketing. Because, when you have a high-quality product or service, people’s mouths will market your product or service.
Understanding & Profiling Your Customers
Customers are an essential part of every business. Whether your business will be a success or failure will depend on your customers. Therefore, a company should never neglect their customers and spend both time and money learning about its customers. Customer profiling is one of the data-based methods that organizations can use to establish an understanding of their target audience.
It is particularly important to understand the profile of your customers to the smallest of details. Without this understanding, you will never be able to deliver a product or service that would fit your customer’s needs. If there is no need or want for your product then be assured no one is buying.
Good Communication Skills
To do marketing you don’t need to have very high-quality communication skills. Good Communication is sufficient. What do I mean by good communication? It is all about are you being able to express and transfer your thoughts to your customers effectively. Good communication doesn’t care about vocabulary or grammar. It is about having good conversations.
In Marketing, communication must be as simple as possible. If you cannot converse well with 1:1, you cannot converse well with a crowd. It is all about explaining things to people in simple language. People should trust you to buy your service/product. Be authentic in your talks. Being authentic enables you to communicate better.
Sending The Right Message At The Right Time
Marketing is all about communicating with your customers. What you communicate, how you communicate and when you do it makes all the difference. Communication never stops with the closure of the sale. It has been observed that companies that have regular structured communication with their customers have been successful in retaining their customers for a much longer time than the companies that don’t. A good communication strategy not only helps retain customers but also provides repeat business and builds a loyal customer base who will be your brand ambassadors.
Build A Brand To Win Trust
Build A Brand To Win Trust
“Trust makes a man” once said a wise man. This holds till date not just for individuals but for companies & businesses. A brand that has built trust through the years finds it effortless to market. Take the example of Apple. All their products are super expensive; however, if they just need to launch a product be it a phone or a computer, there is a queue of customers waiting to buy it. Such is called the trust that they have built.
Brand trust measures how much confidence customers have in your business. It reflects whether or not your branding consistently delivers on its promises and stays true to its values.
Be the No. 1
If you need to be successful in your niche or industry there is only one mantra – Be the First and Be the Best. Take for example Xerox, worldwide the act of photocopying is called Xerox while Xerox is the first brand of photocopiers and they were the best.
Another example is the Walkman by SONY. Walkman was the product name of Sony’s portable handheld personal tape player. By being the first and the best every similar device by any brand was called a Walkman. This means to show that people don’t remember the second or more, first & the best is always remembered and once you are remembered half your marketing is done.
nCATT Marketing Funnel
Wealth = n ^ CATT
Wealth is concentrated in one [n] niche and we are more likely to succeed in one niche rather than concentrating on too many activities at once.
[C] Content: You can use blog posts, videos, live webinars, videos, email marketing, etc. to attract people from your niche.
[A] Attention: Use organic methods like google search engine optimization, social media, paid ad placements, and referrals to generate traffic to your content.
[T] Trust: Always build trust. Share customer success stories. Customers like to hear from other customers before they decide to buy. Or rather the chances of a sale closure is at least 5 times higher when they hear a success story from another customer who has experienced your product or service.
[T] Transaction: With your marketing methods, convert your leads into customers.
Integrated Digital Marketing
Integrated Digital Marketing is the combination of various digital marketing strategies to create an advertising program that increases your sales. When we refer to digital integration, we mean the combining of various digital marketing strategies such as search engine optimization and pay per click advertising to create an advertising program that increases your sales.
While individual Digital Marketing strategies like web development and design, Search Engine Optimization (SEO), and email marketing may be effective on their own, combining them with other Digital Marketing strategies creates a more effective advertising campaign.
At present, customers’ mobility has been slowed down. As a result, the digital space has changed significantly. The content or media consumption pattern has changed completely. Their purpose of online activities has changed. Now everybody needs to live their lives online; work, shop, consult, entertain, educate, meet, fitness, and everything else. Means to say online media was a choice before COVID and today it is not, we do not have a choice.
With this changed reality, our digital strategy cannot be the same, it must change. It must be more dynamic and adaptive to the ever-changing market needs. Take for example Tik Tok, what happened to all those who had massively invested in Tik Tok as a strategy, Gone. All their efforts were ash to the ground overnight. The reality is that the coming times are going to be this way whether we like it or not, and the only way we can run a successful marketing campaign is through an Integrated Digital marketing model.
A personal brand is how you build your reputation online. It’s a little different from your regular reputation because it’s not built on the stuff you do for other people. Instead, it puts your name directly in front of your ideal customer, allowing them to connect with you directly.
How personal branding can help you and your business?
- You begin to attract your ideal people
- Your field considers you an expert
- There is a difference between you and the competition
- Trusted by more people
- As a result, your service becomes more valuable
As a result of reading this article, I hope you now have a better understanding of marketing, its types, its importance, and its strategies before you start. I thank my mentor Digital Deepak for providing me this knowledge
I would appreciate your comments on my article if you found it useful for marketing.
For more articles like this visit my website bringrankup.com