In this article, I am going to reveal the ground level facts for fundamentals of marketing. You will be taken through 7 important ways to become a master in the marketing of any product/service. This article will be useful for entrepreneurs, founders, business owners, free lancers and mentors.
You will be thinking what is new in this article about marketing, since we already went through many views about it.
Indeed my friend, there are NO new concepts that I am going to share with you. However, this article will change your perception about marketing and methodology of earning customer.
1. Perception of Marketing Has To Be Changed:
Firstly, you need to verify your perception on marketing, there is no fixed rule to master in it; however, your approach and understanding plays how good a marketer you’re.
An important point is to know that marketing plays a different role in consumers & marketers.
For consumers, they see marketing as just the process of storytelling through different channels and consumers will be in your boundary as long as you keep engaging them and are happy.
Whereas marketers do not just depend on the storytelling instead they must do math about the consumers behaviors, age, taste, etc., It is a science for marketers.
“Don’t find customers for your products, find products for your customers.” – Seth Godin
According to the above quote, marketers do not find the customers for the products/services you own; instead find products/services that the customer needs.
The other point is marketing is not about how you sell and it is when you sell it. Reaching out to the right consumers at the right time through the right message matters.
For e.g, we (most of the population) never use the mask or sanitizer until COVID-19 spreads and even manufactures think about it in spite we have air pollutants in most of the cities. But, when there is demand for masks and sanitizer, both big and small companies have started selling them. Whilst, the demand alone will boost your product; quality of the product is very important.
There is a wrong perception in this new age, marketing through social media will alone generate revenue which is not true at all. A word of mouth is where it plays the major role in any age of the era. Ratings & comments also fall under word of mouth; we may call it as “word of mouse” to brief in digital language.
“If people like you they will listen to you, but if they trust you they’ll do business with you.” – Zig Ziglar
TRUST is the mantra each and everyone marketer should have no matter what consumers they target. Unless trust, your reach is like a dot. If you want to make it as a circle, build a trust with your consumers.
When you learn this art, you will be a standout marketer forever
2. Understanding Global Economics is Key:
What is GDP?
GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time, normally a year. GDP growth rate is an important indicator of the economic performance of a country.
Click “How The Economic Machine Works by Ray Dalio” to know how the economic machine works and how debt plays a major role in GDP’s growth.
Ray Dalio nicely explained “Productivity and Structural Reform: Why Countries Succeed & Fail, and What Should Be Done So Failing Countries Succeed”.
This study is presented in three parts:
In Part 1, “The Formula For Economic Success,” we show how indicators of countries’ productivity and indebtedness would have predicted their subsequent 10-year growth rates going back 70 years, and how these economic health indicators can be used to both predict and shape the long-term economic health of countries. By knowing the linkages between a) indicators of productivity such as the costs of educated people, the amount of bureaucracy in the government, the amount of corruption in the system, how much people value working relative to enjoying life, etc., and b) the subsequent 10-year economic outcomes, policy makers can decide how to change these determinants to affect long-term outcomes.
In Part 2, “Economic Health Indices by Country, and the Prognoses That They Imply,” we show each of the 20 countries’ economic health indices by component and aggregated, and how these lead to the projected growth over the next 10 years. In this section you can see a synthesis for each country based on an objective review of each of the indicators and their relative importance. Because our understanding has been completely systematized, there is no qualitative judgment used in describing these estimates. In fact, the texts have been computer generated.
In Part 3, “The Rises and Declines of Economies Over the Last 500 Years,” we look at how different countries’ shares of the world economy have changed over the last 500 years and why these changes have occurred.
CLICK HERE to download the PDF to explore more about his study.
3. Choosing Appropriate Marketing Medium Is MUST:
Every marketer should have clarity and ability to choose the appropriate medium to have better ROI. Both Online & Traditional marketing are equally important in terms of ROI but it matters which category of the customer that you’re targeting.
Indian population is mixed in terms of speaking in regional languages & English which does not allow you to reach out to all through digital medium.
If a product is generic with wide targeting, then the traditional marketing is the right choice such as your daily soap, oil, tooth brush, etc.,
Traditional Marketing includes TV, Radio, ADs in the interval of film, hoarding, rail branding and bus branding and these are highly reach medium in terms of brand awareness.
4. Direct Response Marketing:
Direct response marketing is a type of sales technique designed to evoke an on-the-spot response and encourage a prospective customer to take action by opting in to the advertiser’s offer. Unlike other marketing types, the direct response requires little or no time waiting to see measurable results.
Other examples of direct response digital marketing could include hosting webinars, running search ads, creating a podcast, and hosting a Twitter chat. Each of these digital channels allows you to create an offer to which your audience must immediately respond.
When you have a start-up company, direct response marketing is important to know your product / service value in the market and able to understand your prospects in this way.
For example, I’m running a direct response marketing campaign for a real estate client, I would ask for your name, phone number, and email ID to enable you to explore the location through the client site. By this way, I can track how my campaign runs and remarket them for future campaigns.
5. CATT is a Catalyst.
What does it mean?
C – Content
A – Attention
T – Trust
T – Transaction
The concept is derived by Digital Deepak who followed this methodology and found the enormous result. He is one of the best digital experts in India by performing this technique.
I personally believe this formation yields good results whomever it may concern. When you have quality content, you force yourself to seek people’s attention. Trust is a simple word to say but there is a lot of commitment and hard work behind it to make people trust you; when people trust you, your transaction is super easy.
CATT is pitched in only when you have your strong niche.
I like the proverb “Too Many Cooks Spoil the Broth”. Having said, too many niches make you too many troubles… It is like you are playing cricket on a football field with an audience of basketball. You cannot find results when you have too many niches.
Of course, you can do that but the process should be one by one for a smooth journey.
Choose a right NICHE where you have interest, market demand with potential.
6. Integrated Digital Marketing Is Matters:
No marketer has this view, people think to target one trending medium and expect the result from it which sucks the energy and money.
I often notice digital marketers choose too many niches but target some specific medium to generate revenue. But, that should be reciprocated, choose a niche and market in different channels to understand the goal of urs.
You cannot sell your product / service for long time just targeting the single items of the below,
SEO
Email Marketing
Content Marketing
Social Media Marketing
Paid Advertising
Affiliate Marketing, etc.,
In Lehman’s view, when I go to a hotel and look for a variety of dishes, what If I do not have any choice and should have they served? If I have a variety of food, I pondered eating a lot and chances are high to choose many items.
Similarly, when you choose the single marketing system, ROI would be very low no matter the budget you spend.
7. Personal Branding Market Your Product/Service:
Unless, the personal brand no one will look up to you.
As I said, trust is the one key to becoming a strong personal brand whilst it would take a longer time in reality. To overcome it, we should have a strong evolution cycle. Of course, this would also take time to build the personal brand. But, the bandwidth of the audience is different.
This process of personal brand evolution is called “MASS TRUST " and check-out a blueprint below. Thus, designed for two categories. First one for a fresh digital marketer and another one is for experienced or business owners or start-up owners.
Fresh Digital Marketer Blueprint:
- Learn: Firstly, choose a niche in digital marketing and learn in depth. Learning is a must, you cannot skip it. Learn all the techniques and practice and excel at it.
- Work: Find a job on your niche based on your learning. Practice in live projects and apply a different approach on your own. Earn enough experience.
- Blog: You can start writing a blog either while working or quit the job and concentrate on blogging.
- Consult: Start to act as a consultant with low cost charge which helps to spread the knowledge.
- Mentor: Mentor people which is not at all easy. Whilst, this provides you an opportunity to get more ideas from your students / audience. This will brush-up your skill and enhance your knowledge.
- Start-up: Start a company with a reasonable budget.
- Marketing Agency: When you done all the above steps correctly and you are eligible to start a marketing agency.
Mass Trust Blueprint for Business owners / Start-ups:
- Learn: Firstly, learn in depth what niche you are chosen. Learning is a must, you cannot skip it. Learn all the techniques and practice and excel at it.
- Practice: Practice all your learning as many times as possible. Self-discipline is important here to perform it as you do not have any boss or superior to monitor you. Or, you do not have to practice for your salary. Practice in live projects and apply a different approach on your own.
- Blog: You must start writing a blog. You have an advantage which is time that you can calculate where as employees are not able to do so.
- Consult: Start to act as a consultant with low cost charge which helps to spread the knowledge. You have a wider opportunity to perform it.
- Mentor: Mentor people which is not at all easy. Whilst, this provides you an opportunity to get more ideas from your students / audience. This will brush-up your skill and enhance your knowledge.
- Apply: Apply all your learning at your live project or utilize your existing clients.
All the above methods are practical and recommended for those who want to be a successful marketer. Of course, you need to spend some time. I believe these are good ways to be strong in the marketer and get reasonable market share in the industry.