The laws of Marketing
Few facts of marketing that will keep you up at night
How marketing economics can get you your Heart’s desire
Doing marketing the right way..
As someone rightly said” People do not buy goods and services… They
buy relations, stories and magic.
The above statement in a way sums up what successful marketing is all
It is the art of getting the right goods & service to the right people
at the right time, at the right place, at the right price with the right
communications & promotions.
Once a brand weaves a story with an emotional connect, the brand becomes a source of desire and inspiration
At the same time marketing should be ethical which helps in still a level
if trust in the consumer psyche
It creates value for the consumer which in turn builds up loyalty for
First question is what is marketing and why do we need it?
So, the answer is…
Marketing is to identify the customer and fulfill the needs of customer profit.
The action or business of promoting and selling products or services, including market research and advertising.
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.
Marketing is a lifelong process. It doesn’t end with sales. You have to constantly interact with your existing customers and build a relationship of trust with them.
The Fundamentals of Marketing
For a person not in business, marketing can be a confusing term because it represents so much. There are sales, advertising, branding, social media, influencers, content strategy and so much more.
Most of the businesses are not able to find customers. They are not able to generate revenue.
And because of less revenue the business cease to survive.
And why does that happen, because they do not implement good marketing strategy.
In this article we will learn how you can enhance marketing of your business and save your business from a marketing failure
Traditional marketing vs digital marketing
Traditional marketing and digital marketing both have their own pros and cons. Still digital marketing has got an upper hand over traditional marketing methods. Below are some key differences to understand the traditional marketing vs digital marketing methods better:
- Traditional marketing is limited in terms of targeted audience/consumers as it is limited to local customers/consumers whereas digital marketing grab the attention of customers or the consumers from all over the world and thus through digital marketing companies can reach out to a greater number of consumers/buyers/customers as compared to traditional marketing. Also, digital marketing involvestwo-way communication which allows serving the customer’s requirement in an efficient manner.
- Digital marketing providesquick and real-time marketing results that let the companies refine and streamline the marketing strategies for generating maximum revenue and profit. This is one of the key reasons why companies are switching to digital marketing platforms.
- Digital marketing is highly cost-efficient and eco-friendly as it provides paper free transactions. The marketers and consumers can interact through various social media platforms that do not charge even a single penny and the documentations are in the form of soft copies stored on the websites which can be accessed any time anywhere.
CATT marketing funnel
CATT is a sales funnel that will help you to build the mass trust of your customers with the help of Digital Marketing.
The full form of CATT is Content, Attention, Trust, and Transaction [C] Wealth= n^CATT
- [n]Niche: Niche is finding the right market requirement and fulfilling that requirement with your skills and interest.
- [C]Content :
- Create useful content that attracts people from your niche. Blog posts, videos, lead magnets, live webinars etc.
Drive attention(traffic) to your content using SEO, Social Media, Paid Ads and Referrals.
- [T] Trust :
- Building trust is the important factor for building brands, and it takes time. The more the trust the more the strong brand is built.
- [T] Transaction :
- When the trust is built it becomes easy to convert the leads into customers through natural sales.
Communication is a big asset as it gives you courage speaking confidently and equipping you to put right words into someone brain. Also it is one of the most effective skills you can cultivate as a business leader. Below are the few tips to enhance it
People don’t buy what you do, they buy why you do it”– Simon Sinek. So understand why and how your audience uses technology and then start trying to align your communications efforts.
How to improve your communication skills: –
- Listening: To communicate effectively, first listen to what others have to say. Then you can provide a thoughtful answer that shows you have taken those ideas into account.
- Reading will enrich your vocabulary and it will also give you something new to talk about. Read whatever you enjoy such as -stories, novels, the newspaper. anything you feel like. This way you’ll learn new expressions and enhance your vocabulary.
- Practicing: The more you do it, the more you realize that it is not hard at all.
- Writing and thinking: The more you write, the more you improve writing skills and better you can write. Practice to write at least 500 words in a day that will make you perfect in writing.
- Watching: Start watching English news, movies, talk shows, shows on Netflix like Crown, Friends and so forth. Copy the speakers’ way of speaking. Sing along when watching advertisements with English jingles, also keep a diary and pen handy and note down the new and fancy words. After a time you will see the difference in your fluency.
Stages of the marketing funnel
Awareness is the highest-level stage of the marketing funnel. This is the point where customers first learn about your brand through market research and targeted marketing campaigns. Here is where lead generation takes place, as potential customers’ information will be used to guide them through the rest of the marketing funnel and into sales.
Leads who show an interest in your business and services move onto the next stage of the marketing funnel, aptly known as interest. At this point, lead generation turns into lead nurture as brands start working on establishing a connection with all the contacts gathered during the previous stage. Email marketing is one of the most common practices in this stage, as it allows business to reach out directly to leads with relevant, branded content.
In the consideration stage of the marketing funnel, leads start getting treated as prospective customers. At this point, businesses start using marketing automation to send targeted email campaigns with actionable intent. These can include anything from free trials and sales announcements to exclusive access to webinars and forums.
A personal brand allows you to build more trust between your business and colleagues and clients alike. It also boosts your reputation and motivates others to want to do business with you.
“Products are made in the factory, but brands are created in the mind.” — Walter Landor, Founder, Landor
What Are the Benefits of Personal Branding?
- People trust you more
- You have a much higher perceived value
- You are always 100% authentic
- You are knowing as an expert in your field.
- It helps you stand out from the crowd.
- It leads to opportunity.
- It inspires trust in your audience.
Integrated digital marketing
Integrated marketing is a method of engaging consumers with your company or brand that combines all parts of marketing communications to work together and assist the customer along their journey of awareness to loyalty and advocacy.
Integrated digital marketing strategies rely on all the tactics, methodologies, channels, media and tools to work together toward a defined goal that is centred on the client or customer needs.
An integrated digital marketing strategy is built on the same basis as any other business strategy. You need to:
- Have a clear mission statement
- Define high-level objectives
- Make decisions on core tactics often driven by budget
- Set Key Performance Indicators (KPI)
Once you know who makes up your target audience, you’ll need to determine how best to reach them. Integrated marketing strategies create a unified experience across all platforms.
Mass trust blueprint
six steps for the masstrust blueprint
- Learn:keep learning new skills through understanding the concepts, remembering the facts, and practicing the procedures.
- Work: Implement your newly learned skills at work. By implementing these skills in real world would help you to master them.
- Blog: When WE write, you understand it better, you will also start building your personal brand. So keep writing in form of blog.
- Consult:As become a personal brand by writing a blog. It’s time to start consulting other people or businesses instead of working for them.
- Mentor:now its tiem to mentor others who want to become like you. Mentoring others will increase your understanding of that topic to a new level.
- Start-up:It’s time to start your own product or service business with the understanding that you have developed about the market, the problem and your own skills.
This cycle goes on continuously.
A good marketeer never stops learning.
Be it yesterday, today or in the future, no brand can survive without
It is the linchpin around which everything else revolves. It needs a
fine balance as it is both an art and science.
Though the mediums have evolved over time, the cynosure of marketing is always the consumer
Marketing is very 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.