How Marketing Helped Me to My Heart’s Desire ?
Many think that Marketing is an one-time activity which has to be done if needed. No, it’s not true. Marketing is a Continuous Process. It can never be stopped.
If I compare each and every business to a human body then Marketing is the Heart which pumps the blood to all the other parts of the body. No matter what you do it has keep pumping the blood to your business in the form of fetching new customers and also making sure to retain the existing customers.
But the word Marketing itself is a very generic terminology. There is so much of treasure which is hidden behind this simple word. In this Article I am about to reveal those secrets to you all in simple grammar and mapping my experience in marketing along with it.
Breaking the Myths about Marketing:
MYTH#1:
~Marketing is based on Creativity — FALSE
~Marketing is based on Science
~Marketing starts after Building the Product — FALSE
~Marketing starts before Building the Product
Marketing is All about understanding what Your Customer wants and building a Product according to their needs. Because If you are about to build a Product which has no demand in the Market then nobody is going to buy it.
The Best Example is when the Pandemic Started. Before Pandemic 95% of the world was not even aware of a Face Mask, but if you look back today everyone has at least 3 or pairs in their home. And everybody who was into the business of Manufacturing of Face Mask at the start of the Pandemic gained Huge Profits. So if You have understood the real needs of Your Customer then there starts your Marketing.
That’s Why Marketing is not based on Creativity it is based on science.
“The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself… The aim of Marketing is to make selling superfluous.” — Peter Drucker
MYTH#2:
Marketing is About Only Selling — False
Marketing is About Selling and also keeping our Existing Customer as a Life-Long Customer
In my 5 Years of Entrepreneurship Journey Pareto’s Principle of 80:20 was hence proved. Yes, not only for me. You can even check your own case and it is true 100%.
And the findings was 80% of my Business Transactions comes from 20% of My Customers and all of them are Life-Long Customer till now.
MYTH#3:
Marketing is more important than Your Product — False
Product is More Important than Marketing
Just go back in memories the last time time you visited an Online Shopping Platform for a Mobile Phone and immediately you would scrolled down the Product page to see the amount of reviews the Product has. People are always interested to buy the best and marketing is all about making the best reach to People.
Points to Remember doing Marketing:
~ Build a Strong Brand — Dont try to be the №1. Try to be the Only 1.
Always be a specialist rather than being a Generalist. People always trust a specialist more than a Generalist. For Ex. Let’s say one of your Friend is requesting Your Suggestion for his heart issue. Will you recommend a Cardiologist or a General Doctor. So it is very important to position yourself uniquely while doing Marketing
Importance of Communication in Marketing:
Marketing is all about communicating the right message to the right person at the right time. So it is very Important that we have right communication protocol set in place as well. Communication Protocol doesn’t mean that you should be Excellent in English. It is all about how you communicate your thoughts effectively to Your Customers. So Write as You Talk and Write a Lot because the more You Write the Better You can become at it as well.
Global Economics in Marketing:
~ Understanding the Global Economics will help us in Understanding the Customer further deeper and making them as a Life-Long Customer
It will help us in knowing the details like No.of Iphone Users, No.of House holds with Wi-fi Connections and many more statistics all proving to be helpful in understand the requirements of the customer.
Why I say this is because of the following findings:
~ A country’s Economy goes up as the Average of the Country goes up.
~ India is a developing country with young Average Age
~ The shift happens on a cycle of 20–25 Years
~ Debt Creates Money
If you look at the potential opportunities in India which is a developing country yet and the average Age of the country still being there is huge opportunity for all people to spend which clearly shows people will be more interested to buy more products provided that Your Products meets their requirements.
Traditional Vs Digital Marketing:
Currently the World is facing the 4th Industrial Revolution which is caused by the growing rise of the Technology — Artificial Intelligence (AI). Which means that there is a huge rise in the number Internet Users across the globe and especially after the pandemic we have seen a drastic rise in the users. So it quite obvious that Digital Marketing at this point of time seems to be a very good method of marketing. But this doesn’t mean that the Traditional Marketing Methods needs to be Stopped. No, not at all.
Digital Marketing might give better results for few products compared to the other Products.
For Ex. If you take Arun Ice-Creams which has a very generic audience TV Ads works better for them compared to the Digital Marketing
In India out of 298 Million homes 197 Million has TV in it. So obviously it has the better reach out to audience compared to Digital Marketing Method.
Digital Marketing would be best suited for the English Speaking Crowd in India. The Other Traditional Marketing includes Radio Ads, NewsPaper Ads.
Direct Response Marketing:
Direct Response Marketing means giving an immediate Call to Action for your Audience which is of a quantifiable measurable. This metrics will helps us to track the performance of the Ads and helps us to Understand your audience much better as well.
For Example:
~ An Advertisement in the NewsPaper with a Phone Number to Call
~ An on Social Media Sites leading to a Landing Page with a Lead Form to collect information about Your Customer
~ A Sales Page with a Product Link to purchase the Product.
Just like How I do my Sales Page: Sample Sales Page
The CATT Marketing Funnel:
Let’s we will understand the CATT Funnel in the Modern World. I would say
Wealth = n^CATT
where
~ n → The niche you have chosen. As shared already in the above the more and more the deeper you go in your positioning and your niche the better and better will be the wealth
~ C → Content about Your which includes writing Blog Posts, Informational Videos, Lead Magnets like Free E-Books, Live Webinars etc. By doing so the above you create an Authority over Your Particular niche.
~ A → Attention — After the Authority has been establish next we have to pull in traffic over our Content so that more people are able to see your Authority over Your niche. And this can be done by running ads or by doing SEO or by promoting it through your referral network.
~ T → Trust — Once the Traffic now it’s time to use the direct response Marketing and make the traffic become your customer and establish the Trust. This can be done by building TripWire Products or through Marketing Automation and Re-Target them to Your other Contents.
~ T → Transaction — Finally convert Your Leads into Customers
How to Choose the Right Niche:
There are 3 Important Factors in choosing the Right Niche: Talent, Market, Passion
Let’s say for Example I want to become the Best Robotics Trainer for Teens in India, I should first the skill and the talent necessary to do it. Next I must also check whether my audience will be interested to buy the service from me and the third I must also have the passion to do it.
If there is Talent and you are passion towards but there is market then your product is not going to be sold. If there is a Market and Passion for Your Service but you don’t have the product to sell. If you have Talent and the Market then Your Product is not going to be that great as you do not have passion for it. So it very necessary to find your niche in the mix of the above three components.
Integrated Digital Marketing:
When it comes to Digital Marketing People often do not understand the full essence of it. Digital Marketing can become successful only if all the components of it like
~ Email Marketing
~ Content Marketing
~ Paid Advertising
~ SEO
~ Social Media
are all Integrated together and worked together. This is exactly what is called as Integrated Marketing
Power of Personal Branding:
There is a famous Saying “People buy You then Your Product”
So it is always better to build Your Personal Brand.
If you check out the Twitter or Instagram or Any LinkedIn Profiles of Celebrities, they do have a higher followers rather than their companies. Elon Musk has more followers than SpaceX.
The Pro is that using your Personal brands you can build many brands. Imagine tomorrow if needed Elon Musk can quit SpaceX and start a new brand quickly. So there is opportunity to create multiple brands whereas
The Con is that you will not be able to find investments for Personal Brand. Investments comes only for Entities
So how a Personal Brand can Evolve. There are 6 Stages involved in that and they are:
1. Learn: Gain the Skills of Your Particular by Experience
2. Work: Put Your New Found to Work to get real time Experience
3. Blog: Write about Your new Found Skill. Putting it on Words gives you better understanding and clarity.
4. Consult: Now you have the experience you can start consulting for other companies instead of working
5. Mentor: Empower other who would like to become like you which will help you scale to a whole new level.
6. Startup: Start Your Own Product or Service Business with all the knowledge and understanding and experience you have gained.
This Evolution is what called as the MassTrust Blueprint.
Conclusion:
All I have shared is not my individual learning and experience but it’s a collective learning and experience along with my digital mentor DigitalDeepak where I am part of his Internship Program and undergoing all this learning along with you. So if you are interested to learn as well. Just Click HERE and enroll for the internship as well.