What is Marketing?
Marketing is a process of getting potential clients or customers interested in your products and services. It's based on science, it's all about understanding the customer and his behavior then sending him the right message at the right time. Marketing starts before creating the product, understand the customer and what they need, what they really want. Marketing is not just about selling products. It is also about keeping an existing customer for a lifetime.
Marketing is a game of trust, it's all about how you build trust. Marketing is needed until you create your brand name into the market. Many people say marketing is the key to everything but it's no greater than the product. A great product sells itself. Marketing also helps in creating a perception of the product.
If you need to persuade someone to take action, you’re doing marketing. — Seth Godin
22 Most Important Law Of Marketing
Leadership — It’s better to be first than it is be better.
The Category — If you can’t be first, set up a new category.
The mind — It’s better to be first in the mind than the marketplace.
Perception — It’s not a battle of products it’s a battle of perception.
Focus — Own a world in a prospect's mind.
Exclusivity — 2 companies cannot own the same word in a prospect.
The ladder — The strategy to use depends on which rung you occupy in the ladder.
Duality — In the long run, every market becomes a two-horse race.
Division — Over time a category will become two or more categories.
The opposite — If you’re shooting for 2nd place your strategy is determined by the leaders.
Perspective — Marketing effects take place for an extended period of time.
Line Extension — There’s an irresistible pressure to extend the equity of the brand.
Sacrifice — You have to give something in order to get something.
Attributes — For every attribute, there is an opposite effective attribute.
Candor — When you admit a negative the prospect will give you a positive.
Singularity — Only 1 move will produce substantial results.
Unpredictability — You can’t predict the future.
Success — Success often leads to arrogance and arrogance to failure.
Failure — Failure to be expected and accepted.
Hype — The situation is often the opposite of the way it appears in the press.
Acceleration — Successful programs aren’t built on fads they’re built on. trends.
Resources — Without adequate funding, an idea won’t get off the ground.
Traditional vs Digital Marketing
What is Traditional Marketing?
Traditional marketing is offline. These channels include magazines, newspapers, television, radio, direct mail, and billboards to name a few. Traditional marketing is all about reaching a large general audience. The more people that see your ad, the more leads you have the potential to attract.
Pros of Traditional Marketing:
If your target audience is an older demographic, traditional advertising can be very effective. Audiences ages 50+ spend almost twice as much time reading the newspaper and watching TV as compared to those ages 21–34.
Traditional marketing is good for businesses looking to build a large local audience. A small business can easily compete for the attention of a local audience through flyers, billboards, and radio commercials rather than trying to compete for digital space against larger businesses.
TV or radio commercials will play multiple times and remind the audiences of the business, whereas digital marketing items may be skipped.
Cons of Traditional Marketing:
Traditional marketing is a one-way street where a business can provide information to the audience about its product or service, there is no interaction between customers and the business.
It can be hard to track the return coming from traditional advertising and usually the starting cost is higher when compared to digital advertising.
Often, traditional marketing is expensive. A small brand typically won’t have the budget for a national campaign.
What is Digital Marketing?
Digital marketing began as simple ads on the internet. Now, digital marketing is surrounded by many different channels online and through digital devices. It is always evolving and changing with new technology. Digital marketing includes paid social media ads, email marketing, and PPC, etc. Because of technological advances, this advertising strategy is much more focused on efficiency and less on volume.
Pros of Digital Marketing:
Digital marketing campaigns are easy to measure. The tracking is in-depth and allows you to tweak your campaigns in real-time to get the best results.
Digital marketing strategies are much lower cost than traditional advertising and often have a better return on investment.
The targeting of digital advertising is much more precise. Instead of casting a large net and hoping some people will find your messages compelling, you can target the exact type of person you would expect to interact with your brand.
Cons of Digital Marketing:
Let’s face it digital ads can be annoying! Because of this, some users have ad blockers so they do not see banner ads, and other ads can be skipped or removed if a user pays for premium service.
Ads like Google ads, banner ads, and promotional emails are short-lived. They’re intangible and can be easily ignored.
I believe that digital and traditional marketing are strongest when working together. Every company has different needs, budgets, and goals. Many of the most successful marketers use a combination of digital and traditional marketing in conjunction in order to most effectively and efficiently reach target audiences and achieve the goals.
CATT Marketing Funnel
CATT Funnel Formula — Wealth = n^CATT
[n] stands for NICHE — As we already knew, finding a niche is important to build a brand. Your niche should not be too broad or nor narrow. Once you find your niche it’s easy to grow and become successful.
C stands for CONTENT — Content is your base of digital marketing. Through content, you can attract a targeted audience. Some content examples are blogs, videos, live webinars, podcasts, etc.
A stand for Attention — In this, you drive attention towards the content you have written, through SEO, paid ads, social media ads, emails, etc.
T stands for trust — Once you attract the attention of your targeted audience, it’s time to build trust. This is done through marketing like retargeting, marketing automation, tripwires, etc.
T stands for transactions — It is the most important part of the funnel. It should come from natural sales not from over pursuing. Once the audience starts believing in you, they will automatically convert themselves into a customer.
Integrated Digital Marketing
Integrated Digital Marketing is a strategic approach in which you diversify your communications channels in order to reach consumers effectively. It means having a singular voice that your client can identify across all platforms.
By using integrated digital marketing, you create a consistent image for your brand that is easily identifiable Integrated digital marketing ensures that all of your campaigns, content, and approaches complement each other. A marketer should not depend only on one particular medium to make the campaign successful. The content has to be made available across multiple channels to obtain the attention of maximum consumers.
Understanding where and how your customers interact with your brand and conforming your messaging to the specific platform will help your marketing be more memorable and impactful.
Personal Branding: Mass Trust Blueprint
Personal branding goes by different names like self-promotion, individual branding, etc. All these titles refer to the same thing — establishing a desirable image or impression of the self in people’s minds. Whether you want it or not, people make up a particular picture of you in their minds. They judge you based on your character traits, looks, actions, and, most importantly, their experiences with you.
The thumb rule, as proposed by Bob Burg and John David Mann in their book The Go-Giver goes something like this: “All things being equal people will do business with, and refer business to, those people they know, like, and trust.”
It is a combination of skills, personality, and experiences that defines you. It is what sets you apart from the competition. As it is often said, your personal brand is what people say about you when you’re not in the room.
A personal brand helps in building networks with people around the world and will increase trust among prospective clients and recruiters. When recruiters trust your personal brand, it improves the scope of the relationship too. With social media and content marketing booming today like never before, anybody can build a personal brand by using the right tips and strategies.
Evolution of a Personal Brand
Learn: Learn a new skill through concepts, facts & procedures. Understand the concepts, remember the facts and practice the procedures.
Work: Put your newfound skills to work. Go from practice to implementation. Implementing it in the real world will give you a better understanding.
Blog: Write about what you have learned and experienced through your work. When you write, you understand it better, but you will also start building your brand.
Consult: Now that you have a personal brand through your blog, have work experience, and have learned the fundamentals, start consulting other businesses instead of working for them.
Mentor: Mentor others who want to become like you. It will help you scale your understanding to a whole new level.
Startups: First understand the market and identify where it lacks then build your product or service to solve the problem.
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