Are you afraid that you don’t have a safe career?
You have good infrastructure, product, and employment but not able to sell the product?
How to build trust for the customers?
This article will answer all these questions and will help you market your product, to be an influencer, and to build a safe career.
The main problem while marketing the product is considered of three pieces of information
- The outcome the customer wants: We Build the product to fulfill the customer’s needs so the main core of the problem should give a clear description of the result for the customer to achieve it. Well-framed outcomes are related to the customer needs not to your product specifically. For example, various forms of transport deliver the outcome of getting from A to B quickly and comfortably.
- Why they want that outcome: Understanding why the customer wants enables more effective, more creative solutions than are possible when focusing simply on the result. For example, to take the luggage from the airport as quickly as possible as standing for the luggage is a tedious task.
- Problems with the status quo: The final problem will help you to pinpoint the problems with the current solution. Describing what’s painful about the current solution. For example, for those who wanted to travel from A to B for business, the automobile was a superior solution to horses due to their speed and comfort.
By including these three things in each problem statement you’ll be setting your design team up for a productive, successful process that should lead to a product or feature that users love.
After setting the product best fit for the customer we have to market the product so this guide will help to understand the marketing of the product.
So let’s get started
Marketing refers to activities a company undertakes to promote the buying and selling of the product.
The New York Times described Marketing as “the art of telling stories so enthralling that people lose track of their wallets”. It is one of the primary components of business management and commerce.
Marketing depends on your product some products do not require marketing forex Burger whenever you think about the first option that will come to you is McDonald’s.
Similar to other top brands such as Zara, Natural icecreams doesn’t require much marketing because these brands are set in the minds of customers.
Understanding of Marketing
These are some takeaways from the marketing.
Takeaway 1: Marketing starts before creating a product. It starts with understanding the customer and customers’ needs that head to the right person, at the right time.
- For Ex: Patanjali, Began with the aim of establishing a healthy society especially for the rural areas, and creating products that are 100% natural and pure. This was the innovative idea the Patanjali came up with to provide natural products to the people. Today it holds 900 different products in categories of personal care, household, groceries, etc. It holds more than 300 medicinal products at its manufacturing divisions producing natural products for its customers.
- Patanjali’s growth story is a result of its unique proposition and successful Influencer Marketing. Baba Ramdev himself has a strong brand value with a healthy follower base which helps the brand to grow much faster.
Takeaway 2:Marketing is based on science, not creativity. marketing is about sending the right message to the right person at the right time.
- Forex: When Patanjali started it was a small pharmacy shop in Haridwar by Baba Ramdev. Then it got expanded as Patanjali Ayurveda Pvt. ltd and targeted the rural people for their natural products and now it is expanded across all the cities and know for natural and pure products. Now there have built trust in customers for their natural products.
Takeaway 3:Marketing is not just about selling. It is about keeping existing customers happy by communicating with them so they can retain customers for life.
- Forex: Consider any brands such as HUL, Patanjali, McDonald’s, etc. These brands now build trust in the customer for their products and now they do not require much marketing and customers are happy with their products.
- This is the final take away
Takeaway 4:Marketing is the game of perceptions. Product is rooted in reality. Never let marketing become more important than the product. . You need a great product, but marketing not just helps people to discover the product, but also have a good perception of the product. A great product converts your customers into brand ambassadors and sells itself.
- This is all about Marketing Now the next step is which type of marketing you should choose for your business Digital or Traditional.
Digital Marketing Vs Traditional Marketing: Which one should you choose.
After understanding the fundamentals of Marketing you should decide which marketing Fits better for your company Traditional or digital
Traditional Marketing is the conventional mode of marketing using advertising ads on newspapers, leaflets, magazines, etc, Outdoor ads on billboards and flyers, Broadcast ads on TV and Radio, and Face to face marketing via personal channels.
In traditional marketing “Word of mouth “ is a very effective way of marketing it will help us to convert the customers in a faster way.
If your product is generic with wide targeting — TV ads can reach to million at a low cost. Because in India 197 million homes out of 298 million homes have TV, with an average of 4 to 5 members per household. So TV has a reach of 800 million to 1 billion people.
But for small businesses traditional marketing is costly.
25% more costly than Digital Marketing.
15% tough to measure ROI than digital marketing.
5% Difficult to receive the feedbacks Than Digital marketing
5% poor conversion rate than Digital marketing
50% less interaction with the customers than Digital marketing.
These are the disadvantages of traditional marketing compared to Digital Marketing.
Now coming to, Digital Marketing is the marketing that is executed online on various electronic devices. Digital marketing is the best medium to reach the affluent English-speaking population in India which is around 100 million users in India.
The major type of Digital Marketing Is SEO, Social media Marketing, Content Marketing, PPC (pay as per click), Email Marketing, Affiliate marketing, Email Marketing, Search engine marketing, influencer marketing, and Viral Marketing.
As the internet is perhaps the most common form of technology used by people, digital marketing can be used to connect to millions of potential customers worldwide. According to IBM, more than 55% of customers research on social media platforms before buying anything online.
As per another research, more than 73% of e-commerce sales will be from smartphones by 2021. So no doubt the demand for Digital Marketing will increase in the near future.
Here are some more stats to help you understand the growth and prominence of digital marketing…
- More than 80% of shoppers/buyers do their research online before investing in a product/service.
- 94% of B2B marketers are actively using LinkedIn for marketing.
- Mobile will be accounting for over 70% of digital ad spend by 2019.
- 90% of B2C businesses report social media as being the most effective content marketing tactic.
- Around 60% of the people are engaged on Facebook in India.
- Digital marketing also helps us to interact with the customers, taking feedback from the customers, and also measure the conversion rate of customers.
If you want to learn more about Digital Marketing follow Digital Deepak
Now coming to the mathematical Stats of marketing with the following model
Above Are the theoretical fundamentals for Marketing and which marketing should be used digital or traditional.
But Now this CATT Marketing Funnel will give you the Mathematical statistics to attract your customers to your niche with the help of marketing.
This is a formula to increase yours through marketing.
Wealth=n^CATT
- [n] Niche: Your Success and wealth depend on the niche you choose.
- [c] Content: Create useful content that attracts people from your niche. Blog posts, lead magnets, videos, live webinars, etc.
- [A]Attention: Drive attention(traffic) to your content using SEO, Social media, Paid Ads, and Referrals.
- [T] Trust: Build trust with your audience tripwires, marketing automation, and retargeting.
- [T]Transaction: Convert your leads into customers with a natural sales method.
So in marketing Content, Attention, Trust, and Transaction are the Four important elements for doing marketing.
When you have good content then you can drive the attention of your customers to your content some people may ignore it but some people will read the content and will build interest. After building the attention you have to gain the trust of the customers with the help of powerful thoughts, motivational speech, etc. After building trust some people will become the lead and will do the transaction and be your customer.
These four factors depend on the compounding factor of your niche selection.
Now You might question how to select the niche ??
So niche selection is a subset of your Talent, market, and passion. Your niche selection is done in such a way that it should have a market in today’s world For Ex: Now due to the pandemic situation all are working from home and people are using the digital medium to get connected to the people and learn new things online so now digital marketing, conducting webinars, creating online courses, etc are booming nowadays. Aftermarket research you should have passion for it forex: you have to select the sector in which you have a passion. Maybe you have a passion for starting your own business, cooking, etc. Now after the passion, your talent comes in you should have some knowledge to start with your niche.
The above diagram will help you understand how to select the niche.
Integrated Digital Marketing: The best solution to do Digital Marketing.
Integrated Marketing is the combination of all the digital marketing methods to create content for marketing. Instead of using one method integrated marketing used the strengths of all the Digital marketing strategies to create strong content so that it can Sell & Convert the leads.
The below diagram describes the flow of integrated Marketing.
Personal branding: Case Study
Personal branding is creating a brand around the person rather than the business entity. In Personal branding, they do business with people they like. We have a trust relationship and mutual connection with the people. There is just something about the connection with the human being which creates a level of customer loyalty beyond what the company could have reached.
Even there are many big companies that work on personal branding. For ex- Apple has steve jobs, Tesla has Elon musk, etc. This personality has more impact and followers than their company
Now we take the case study of how Neil Patel how he has become successful. He is a top influencer in the New York Times, Top blogger, Top digital marketer, and entrepreneur.
How the evolution of personal branding takes in the life of Neil Patel.
Learn: He started with his niche i.e online marketing and learn various new skills, concepts, facts, and procedures. Now he practiced various concepts in online marketing and became a top blogger, Digital marketer in the world
Work: Now on the working part putting practice into implementation. He founded or co-founded multiple companies for online marketing and for marketing assistance. These include KISSmetrics, Crazy Egg, and Hello Bar. He has provided online marketing for these companies. Now he has created his own agency Neil Patel which is helping the top companies to increase the traffic.
Blogger: He is the Top Blogger in the world and writes the blog about what he learns and experiences through his work.
Consult: Now after building the personal brand through your blog, have work experience and have learned the fundamentals. We should start consulting other businesses instead of working for them. Now the Neil Patel is consulting with various big businesses for site audits, SEO audits, etc.
Mentor: Mentorship will help to scale your understanding to a whole new level. Neil Patel does the Mentorship by creating youtube videos, writing blogs, and increase the understanding of digital marketing by discussing with the people.
This is how the personal brand of Neil Patel evolved.
If you want to become a successful Mentor Join the Digital Deepak internship.
Conclusion:
This blog gives you the basic idea of Marketing For your business and helps you to understand the basic concepts of Marketing, How to do the marketing, how to attract customers to the product using the CATT funnel model, How to use the Integrated marketing concept and some insights on personal branding.
To know about the marketing Stay tuned for more blogs on Marketing.
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