So you have a business and business is good. Now how do you make it better?
The best businesses are always looking for ways to improve, whether that’s offering better products or adopting more efficient processes to market your products.
Marketing is the process of understanding, creating, and delivering profitable value to your targeted customers better than the competition.
Its aim is to establish, maintain and enhance long term relationship with your customers at a profit so that the objectives of the parties involved are met.
Marketing and its fundamentals:
Marketing is a social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others – PHILIP KOTLER
This definition includes the core concepts:
Need: A state of felt deprivation of some basic satisfaction.
Wants: Desires for specific satisfiers of the deeper needs. Needs are few and wants are many.
Demands: Demands are wants backed by the willingness and ability to buy.
Products: Anything that can be offered to someone to satisfy a need or want is a product. Products are tangible objects and services are intangible objects.
Value and Satisfaction: Value is the customers’ estimate of the product’s capacity to satisfy a set of goals.
Exchange and Transaction: Exchange is the act of obtaining the desired product by offering something in return and transaction is a trade of values between two or more parties.
You will build your products based on the consumer’s needs, so you starting marketing even before your product has been created. This makes marketing more of a science than creativity.
How Digital Marketing revolutionizing the Marketing industry?
To compete as a business owner, you will need digital marketing in one form or another to reach your potential customers at the right time with the right message.
Initially, make people believe that you are a big deal and build your own brand in the consumer’s mind. When the brand is popular enough, you might not need marketing anymore and ride on the word of mouth.
We are familiar with traditional marketing techniques, where you market your products via TV advertisements, banner ads, radio, ads, pamphlets, magazines, billboards, etc.
It is very effective and can reach millions in a very short span of time.
It will definitely work if you already have a large audience but it takes a big budget and small start-ups can’t afford it. They don’t have enough money to spend on expensive advertisements.
India is the second-largest online market in the world. 30-40 percent of people are still away from the internet, who will be accessing it in the near future.
In this day and age, every other brand has a social media presence or at least digital ads running for them.
Consumers expect brands to have a digital presence because it helps them to check the reliability of the brand.
Digital marketing provides you the opportunity to get creative and experiment even on a budget.
You can use the analytics to keep a check on your strategies and ROI on your campaigns and optimize them whenever needed to target the right audience.
In traditional marketing, it is not possible. If you are running an ad on TV and radio, you don’t know who will be watching your ad.
What is integrated digital marketing?
Integrated digital marketing process effectively utilizes all the digital marketing technologies available today and in such a way that the strengths of each method is used in the most effective manner.
Content marketing always has been and always will be one of the most effective lead generation, branding, and sales channel, and helps enhancing content marketing to the next level.
Digital marketing has a lot of modules in it. And each module is an ocean in itself. It is pretty difficult to become an expert in every module possible.
Modules such as Content Marketing, SEO, Email Marketing and Social Media Marketing is powerful on its own, but when they are combined in a unique way, its power goes up exponentially and creates a snowball effect that is unstoppable.
Integrated Digital Marketing is the art and craft of using all the digital marketing methods available today in such a way that each digital marketing channel compliments the other by playing its strengths rather than trying to reach the goal of increasing revenues and customer base on its own.
Investment of time, energy, and money in building an integrated digital marketing process for your business is like investing in a piece of machinery that will magically multiply the effectiveness of each component in it.
Some of the common digital marketing methods are:
- Search Engine Marketing (PPC)
- Search Engine Optimization (Organic Traffic)
- Email Marketing
- Social Media Marketing
- Digital Display Marketing
- Content Marketing
WHAT IS CATT MARKETING FUNNEL?
Here we refer to ‘n’ as the niche we choose based on which our success determined.
We need to focus on a niche where people need real help to solve a problem.
Instead of focusing on multiple niches, we need to narrow down to one and continue working and improving in that niche.
CATT stands for CONTENT, ATTENTION, TRUST, and TRANSACTION.
We need to post valuable content on blogs, social media pages, share value-driven videos, conduct webinars, and educate people about our niche to attract leads. Here our content is our Asset.
Furthermore, we need to drive traffic to our content through search engine optimizations, search engine marketing, paid ads, referrals, etc., to generate more attention.
We need to build trust using methods of tripwire, automation, retargeting, and deep marketing.Finally, we can conduct transactions by converting leads into customer with sales calls, sales webinars, video sales, etc.
The one who is best known will always overcome even the best in the market.
The best way to market our brand is to promote through people who use our product or service and provides genuine reviews. Interested potential customers will value a user’s opinion more than the brand’s.
For example, Mr.Ratan Tata who is humble and of down to earth nature is also a well-known personality whose name is more than enough for investors to invest in his businesses.
However, the only drawback is you cannot sell your own personal brand. But can run multiple companies under your name.
Your Personal brand is like the main capsule of the rocket and your other businesses are the different stages of the rocket which will be used to put the personal brand in the orbit.
A personal brand is ultimately the influencer and ambassador for the companies they run.
The graphical representation for the mass trust blueprint will help you remember this better.
The beauty about anything that’s powerful is its simplicity.
Niche Clarity Blueprint, CATT Funnel, the Integrated Digital Marketing Framework and the Mass Trust Blueprint are four very powerful yet simple concepts that cover almost everything about marketing.
Putting all the four pieces together, you can become the best marketer.
When you stare at these four images you will be surprised to know that you already know a lot.
Don’t feel disappointed if there are things on the board that you don’t know yet.
Now you at least know what you need to learn. Knowing what to learn is half your learning done.
Marketing is very important for your business and for your life because we always try to promote ourselves for the betterment of our lives, be it the job interview, monthly report statements to the boss, or pitching an idea to family or any other people.
There is a procedure for the whole process of acquiring new skills.
Learn new skills through understanding the concepts, remembering the facts, and practicing the procedures.
Work with your new skills, put them to implementation. Real-world implementation will help you to understand in a better way. Find some work like freelancing, a job, or your own projects.
Blogging can help you because writing down whatever you learned gives you a stronger hold on the concepts and also help you build your Personal Brand.
Consulting and Mentoring are the next steps in your evolution. Teaching something you learned provides a lot of scopes for your brain to grow because teaching someone else is itself a creative field.
The start-up is the last step in the journey. Your own project for marketing your own products or services allows you to apply your learned about the market.
The journey of our personal brand will begin with learning a new skill and understanding the concepts, study and remember facts and practice proper procedures.
We will put these learnings and experiences into our blogs because when we write we will have clarity; this is where we start building our personal brand.
Once we achieved this brand of ours, with our learnings, practices, and implementations in our background we can consult others for their marketing needs.
We can mentor others who want to achieve a similar path and help them grow above their current level which will, in turn, give us much higher understanding.
With the understanding of the market, the concerns people face, and with our skills developed, we can give rise to our start-up.
And if you reached till here, believe me, you are really capable of taking actions and steps for your evolution. And you can make it.
Thank you so much for staying with me till the end. I really appreciate your efforts for your growth.
Finally, I thank Digital Deepak, Deepak Kanakaraju for his amazing internship program which allowed me to write this article.