Why the World Would End Without Marketing?
So, what is Marketing?
Is It adverts on the websites /the promotional emails that you get inbox? Is it the billboard you just went by?
Or is it “Hum do, Hamre do” plastered on the crumbling wall.
Though, we do seem to remember the slogans, creative videos and Ad copies but is it limited to only coming up with catchy slogans and creating compelling and gorgeous media.
Is it a concept of recent years/or the modern era?
The answers to all the questions above is an emphatic, No.
Marketing is the process of
communicating the value of a product or service to customers.
It involves not only a strategy but also a thorough knowledge of your customers or prospects.
Since it’s a science it has built-in experimentations. Learning from the experiments and improving is an essential part of evolving through this process.
It’s more interesting than a board game, more engrossing than cards at play. It can be as real, as confronting a bull with fiery red eyes snorting on the streets or as cool as the dollar bill in your wallet.
It has a strategy, fireworks (ads and creatives), drama, misgivings and obviously undeniable Aspirations.
But it's not entirely science either, it’s also the art of coming up with creatives and media, the art of perusal, science or the art of customer profiling are some of its essential ingredients.
It’s not complicated, certainly not when you intend to learn and master it and are gifted with a little presence of mind. Throw in a mix of proper guidance and a favourable club of associates with similar tastes you can even master it.
Good user experience and design is a concept that’s true for all businesses, this is especially true for digital products. This essential ingredient connects it to the field of aesthetics; thus, marketing is a full-time discipline on its own.
At the risk of being repetitive, I say again that it can be easily learnt since it’s a science with methodology involved and is not just a matter of lucky charm.
But when did marketing start??? It started perhaps when a person who had a requirement, met another person who could satisfy the requirement and then they communicated.
Yes, that’s right when they communicated.
So, it’s the art of communicating your product or services to your prospects or customers but not only that. It’s the art of presenting your products and services to your prospects when they are ready to buy.
Do you remember the time? when you clicked on some adverts but didn’t quite complete the purchase and the ads of the particular product soon started following you on other websites? Reminding you of the product and in many situations resulting in a conversion
Now, that’s called retargeting, a part of digital marketing, we see in action in our daily life.
When succeeding in conversion it shows you the power of digital persual, nearly at its best.
Interesting isn’t it? It just joins in the conversation at the right time, so has higher chances of closing the deal.
Digital Vs Conventional marketing
There are many forms of marketing, mainly categorized according to the medium, some old but still quite useful when your strategy demands it.Like TV, newspapers and the radio which have a greater reach, than the internet but have the con of being slow are not as adaptable as digital media. Can’t be personalized and a natural sale can’t be delivered.
The advantage of digital marketing apart from above is, that it somewhat guarantees outcomes on a shorter timescale and the response is measurable If it’s not a big advantage, then it’s not at all different to the other forms of marketing concepts are the same, only the tools change. Since we are talking about digital marketing, direct response marketing is what we shouldn’t forget to discuss.
Direct response marketing is a form of marketing that encourages the prospects to respond by taking a specific action.
Since action is evoked it has the added advantage of being measurable, thus can be learnt from and modified if the need so arises.
To begin to market things or services you do not need a product in the early stages, as it’s based on the concept of bringing the best product to the prospect at the time when he/she was searching for it. You can use any good product that has demands and also meets your passion (a.k.a your Niche).
To begin to market, you need to decide upon your Niche.
Now, what’s a Niche?
Well, it's not a product for sure! It’s the concept of your shop. which products you keep in your shop is your Niche. You can always broaden your niche later and put other related products in your shop.
In simpler terms, though you may have the desire to sell the whole world, to the whole world, it won’t happen.
Why because to sell something you need to have a passion or a connection with the product/services.
Since your passion for the product/service/niche will drive you towards knowing it in the details your talent provides you with the experience of working on it.
Your knowledge and experience make you an authority and your suggestions are of value to people, that’s why they will consider buying from you.
So, this is how it works, when you provide the value and you become valuable. When you provide value, at the right time you become invaluable.
Since you have talent and passion it will enable perseverance and a reason to work on, even when the money gain seems distant. So, like any trade, perseverance is also important.
When your talent and passion meet the right market situations (i.e. demand), that’s when the magic happens.
So Niche is the place where your passions, talent and quite importantly the markets intersect.
Being market-wise is an essential ingredient to your success. So, find the right market for your talent and passions and the job is half done.
Now that you know your Niche, you would be directing your money, attention, efforts and other resources on things that matter to you in your current circumstances, congratulations.
From here on your startup
requires to work on a funnel, now what’s a funnel? Well, it’s a strategy by which you direct your prospects through your site/App on a journey. Not some lame journey, the buyer journey in which he/she transforms from a casual visitor of your website to your trusted customer.
One of the types of funnel is the CATT funnel.
And it translates wealth like this. Wealth = n^(CATT) Here n is then niche and its multiplied by (Content Attention Trust Transaction)
This involves creating desirable and relevant content which solves or can be part of the solution to your prospect’s(customers) problems.
The purpose is to get the relevant eyeballs and make a connection with the prospect (Customer). The kind of connection that will ultimately result in trust and post gaining the trust of your prospects (would-be customers), if you persuasive enough (good persuasion is one of the forms of art/science. An aptitude that is always desirable in a marketer) results in a transaction or a sale.
So, you created relevant content(C) and that gave you the desired relevant Attention(A) what follows obviously is Trust (T) if you have been of value to the intended buyer, Trust is something that will come in naturally since trust can’t be forced, it's best when it earned naturally.
The final and elusive (T)
i.e. Transaction will soon follow the suite and all the elements of your funnel will fit in together.
What’s Integrated Marketing. This is a desirable approach. Marketing has many dimensions and employs a variety of tools to get to a conversion.
Integrated marketing is like a holistic approach in which other forms of marketing like social media marketing, email marketing, PPC ads etc. are used to varying degrees to get a conversion. It obviously will have greater effects as you are combining the powers of tools and methods.
The next logical step is to brand your enterprise. Why? it’s really very simple, you would certainly love to keep your customers to yourself and get more of them. That happens only, when you stick to the minds of your customer’s, as one of the very few or desirably the only option when he or she is out to buy something in your niche. At a later stage, you may even aim to sell other goods that he or she may ever need. This type of loyalty can be commanded only by a brand. Why? branding gives you a human face, something that’s tangible to our minds, something that can be related to. Something more reassuring than a cold piece of metal or plastic, lest you forget we are all kind of gregarious.
The power of branding makes things easier for you as a marketer, as you begin to gain mass trust which would put you in some very favourable circumstances.
Conclusion. so, in essence, yes, the world will cease to exist as we see it now since, marketing in essence strives to provide you with the best possible product at the best price, it strives to make your life easier and more productive. It also strives to project and bring products into your life that will be of value in future too. So, it’s a very progressive discipline with many dimensions with a very noble cause at heart, that’s to enrich your life and can be readily learnt by the interested.
This exercise is a part of Digital Deepak Internship Program.