Marketing has been an important aspect for every business to succeed but, have you been doing it the right way? Or is it just about selling the product to your target audience?
Marketing has been there for ages and if done right it can give fruitful results to every individual or business. Let’s learn what is marketing and how it can be a key to success for just everyone.
What Is Marketing?
According to Dr. Philip Kotler, “Marketing is 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 the best and its designs and promotes the appropriate products and services.”
In layman terms, Marketing is a way to get people interested in your products or services. It starts way before creating a product. It starts with understanding the customers and their needs. That’s why every product or service offered should be customer-centric. It should be made for the right people and should be offered to them at the right time, with the right message.
If a product is of high quality, it will automatically sell through ‘Word of mouth marketing.’ Brands like Nike, Apple, Coca-cola don’t promote their products directly but these brands are successful because customers resonate with them.
Fundamentals Of Marketing
Know Your Target Audience
You must identify your niche and you should know whom you are targeting. You need to ask yourself a few questions. What does your target audience look like? Where can you find them? What do they do? Why will they purchase what you offer? Will they resonate with it?
Ask these questions to yourself and if you have the answers then you are on the right track.
Educate Your Target Audience
After having an idea about your target audience, it’s important for you to educate them about your offerings and why they should buy from you.
You can talk to them directly and tell them about your offerings the way they want to hear it.
A Strong Call to Action
It’s important to add a strong call to action at the end to tell your prospects what to do. If you want their email ids, you can offer them a signup form to fill in their details or you can get it by offering free ebooks to them for download.
You can also put your email id or phone number in bold if you want them to contact you directly.
Remember CTAs should always be in bold and have contrasting colors so that they stand out from the content.
Measure, Monitor, Report and Learn
After doing the above, it’s important to measure the results and track every campaign of yours. This will make you realize what’s working and what’s not. Your efforts should never go in vain. Either you succeed or you learn and then succeed. Neither way you are failing.
Why a MIX of Both Methods of Marketing Is Vital
There’s always a debate on which method is crucial for a business to adopt for their marketing strategy.
Traditional Marketing or Digital Marketing
But this shouldn’t be the case.
Businesses nowadays think that digital marketing is just enough for them. But in the end, it all depends on the product. If a product is generic then the traditional method should be adopted. Because TV ads can reach millions of people at a low cost.
In a country like India, the reach of television is around 1 billion people, therefore, the digital method, in this case, doesn’t even come close to the traditional ones.
One example is Apple which has mass appeal and the products they offer are also very generic.
Whereas, digital marketing can be used for a product that is catered to a specific group of people and the reach of it is also around 100 million people in our country.
So, don’t get confused about which method to adopt. It will all boil down to your offerings and invest accordingly.
CATT Marketing Funnel
Every business has a goal of earning profit and create wealth. But it should be done correctly. Business owners need to have patience and a proper approach towards it. If certain things are kept in order then the profit will be earned automatically.
That’s why marketers and business owners should follow a framework.
Wealth = n^CATT
This means that wealth is equivalent to the,
Your success depends on the niche that you select and if it’s not done in the right way from the very beginning it can harm you and your business.
This is the most important step and you should be clear about it.
You can refer to the Venn Diagram below to get a clear idea about it.
Creating quality content consistently should always be there in your mind. You can create content in various forms be it blog posts, videos, images, webinars, etc.
The content should be in line with your niche and should be useful to your target audience.
Driving attention to the content you create is crucial to generate traffic and spread awareness about your products or services. You can do it by the means of Social Media, SEO, Paid Ads, and Referrals.
Building trust is crucial for a business to grow and expand. Once your audience knows about you, they should also know why you are the right person for them.
It’s time for you to take your prospects from problem aware state to solution aware state. But, how to do it?
You can do email campaigns and set up an automation where you constantly educate your prospects about your product.
You can retarget your website visitors so that they gain more insights about your product.
Now, it’s time to turn your prospects into customers. After your prospects have developed trust towards you and are resonating with your products, it’s time to make the move and create wealth.
Can’t Depend on One Channel for Success (Implement Integrated Digital Marketing)
If you are doing digital marketing you cannot just depend on Paid Advertising or Content Marketing.
Every medium of digital marketing is interrelated.
If Paid Advertising and Social Media build brand awareness then email marketing helps in nurturing those leads.
Content marketing is the base and is linked with every domain. If you don’t have content you won’t rank higher (SEO).
Your target audience will resonate with your brand through your content. And once they are convinced then they will convert into your customers.
That’s why it’s important to focus on every area equally and you can’t blame only one if it doesn’t work out for you.
Why Personal Branding Is Important?
If you are a marketer you should know that customers want to have human interaction. They want to interact with the person behind the brand. That’s the reason why businesses hire brand ambassadors and invest in them. It helps the consumers to relate to the brand.
But instead of hiring someone why can’t the owner himself become the brand ambassador?
Building a personal brand has become crucial in the world we live in.
If you think about Tesla the only thing that comes to your mind is Elon Musk. He has built his personal brand over the years in such a way that his personal brand is bigger than that of Tesla or SpaceX. People trust and follow Elon Musk. Now if he wants to expand and invest in a new business he will have the people behind him because of his influence.
Similarly, in India, if you want to learn digital marketing you know there is only one man who is the best at it. He is none other Deepak Kanakaraju.
He has focused on his personal brand Digital Deepak over the years and has taken it to on a whole new level. Aspiring digital marketers trust him with everything and that’s why if he brings something new to the market be it an online course or even an Internship Program people enroll themselves in it without giving a second thought.
Building your personal brand and giving it a unique touch is what will make you stand out and help you beat the best.
But to do it you have to first start learning and then you need to implement your learnings by working. After that, you can start writing blogs on what you have learned in order to help others who are just getting started. This is where your personal branding journey will start.
After that, you can start consulting a few businesses because of the experience you garner. You don’t need to work for them. You can even mentor others and guide them in the respective field. It will help you to scale your knowledge.
Now, you can start your own products or service business after developing immense knowledge about the market and your niche.
Marketing is not just limited to selling. It is a vast process and it involves advertising, copywriting, and selling. Businesses need to learn the art and science of marketing in order to be successful.
I hope now you know about why marketing is important and is the key to success in your business.
The article was written by me because I am a part of the Digital Deepak Internship Program (Batch 4). If you want to join the next batch you can click here and enroll for it.
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