“GOOD MARKETING makes the Company look smart,
GREAT MARKETING makes the Company feel smart”
At a fundamental level, Marketing is the process of understanding your customers, and building and maintaining relationships.
WEALTH = MARKETING + GOOD STRATEGIES
Fundamentals of Marketing :
Marketing is about sending the right message, to the right person at the right time.
The technology may change but the basics of marketing do not change.
The selling techniques that we use today still rely on the infamous four P’s of marketing: Product, Price, Place, and Promotion.
Let’s take a brief look at each of the 4 P’s that power every form of marketing technique:
- Product (Commodity):
A marketer’s first task is to understand what the product has to offer or its Unique Selling Proposition (USP).
What makes a product valuable to a consumer?
While making any product, you should first do Marketing and do the market research about what the customer wants and then make your product. Then that Product will be more refined.
Generally, people do the opposite of this process and they will make a product first and then do marketing and market study, that is the reason why many products fail.
2. Price (Cost):
Pricing is a simple concept to understand but has deep psychology that businesses need to embrace. Pricing is what the customer is willing to pay for the Product or Service that your business offers.
3. Place (Channel):
Place refers to where the customer can access your product or service. The right Placement of a product matters a lot for the success of the product.
4. Promotion (Communication):
Promotion means any activity or action taken to sell or promote the product. Promotion plays an important role in getting more business or sales.
Businesses need to integrate their marketing strategies and include all those basic elements to grow their Business.
“Business has only two functions — marketing and innovation.” — Milan Kundera
There are 2 types of Marketing, Traditional Marketing, and Digital Marketing.Digital marketing vs. Traditional marketing
Traditional Marketing :
First, we will see how Traditional Marketing works. In some businesses still, traditional marketing is used. Some businesses have the type of services/products that should go with traditional marketing.
Businesses should have a better idea about which type of marketing they should use. While traditional marketing uses traditional media like magazines, newspapers, etc.
Traditional marketing still plays an important role in people’s lives along with the ever-growing need to step out to the Digital world. Traditional marketing may have evolved over the past few decades, but the fundamental aspects remain the same.
Digital Marketing :
In the age of social media, Marketing’s definition has changed and people are going more digital. Not only is digital marketing sometimes more cost-effective than traditional, but also it is a more effective way to connect with the target audience globally. Digital marketing is one of the most essential aspects for businesses these days.
It is all dependent on what kind of business you are in, and what your goals are. According to that, we can choose the marketing method. Your objective may be to display the website on the first page of search engines, Lead Generation, Branding, and many more……
After seeing Traditional Marketing and Digital Marketing, in our mind, we have a question ‘Which marketing should we choose for our business?’
The debate between traditional and digital marketing is long-lasting.
It ultimately comes down to which one fits the needs of your company. When trying to choose between traditional and digital marketing, why not look at both if it is suitable for your business?
If your brand is new and you have to make your brand then you have to go with both Marketing methods.
CATT Marketing Funnel
CATT stands for Content, Attention, Trust, and Transaction. This is a model for building your personal brand.
“Wealth = n ^ CATT” [n = Niche]
Niche – Niche is the area where you have the passion and interest about and expertise and specialization.
Niche = (Passion + Interest) x (Expertise + Specialization)
Niche marketing involves targeting a specific demographic, where you might have several products or services.
Niche selection is very important to get success and after SUCCESS you will obviously get WEALTH.
Content – If you write content, it should be simple and people should get attracted and read your content. Content includes Blogging, Social media Posts, Videos, Live Webinars, Ebooks, etc. Content plays a very important role in this Digital Era.
“Content is king.” – Bill Gates
Attention – After writing your content it should catch the attention of people using different ways like SEO, Social Media, Search Engine Marketing (PPC), and Referrals.
Trust – After writing content and driving Attention to your audience Trust building is important. We can build our audience’s trust by giving them Value, Some useful Videos, Ebooks, Free Webinars, etc.
Transaction – Now after building Trust, Conversion is easy. Because she is already familiar with you and feels like a friend. Now Convert your lead into Customers with the sales method.
Integrated Digital Marketing
Integrated Digital Marketing is the integration of multiple marketing strategies to form a collective online approach for your business.
The idea behind Integrated Digital Marketing is that a single strategy doesn’t have a huge impact on its own. It is the best way to build an online presence.
Some of the integrated digital marketing methods are:
- Search Engine Marketing (SEM / PPC) — Paid Traffic
- Search Engine Optimization (SEO) — Organic Traffic (It is not ‘Free Traffic’ you have to earn it)
- Email Marketing
- Social Media Marketing
- Display Marketing
- Content Marketing
Personal Branding: MassTrust Blueprint
While building a personal brand, you will be staging who you are and what you stand for. Your personal brand is the digital mirror of who you are. A Personal brand becomes an influencer and the brand ambassador.
“Your personal brand is a promise to your clients… a promise of quality, consistency, competency, and reliability.” — Jason Hartman
Without writing you can not build a personal brand, so write as much as you can.
When you write you understand it better. Communication is also an important aspect of building a personal brand.
Transformation/Evolution of Personal Brand:
Learn — You should be a lifelong learner. For learning, you can read books, articles, blogs, and watch videos/courses. If you have a learning attitude you will get lots of resources.
Work — After learning you should implement your learning in your work (Job/Freelancing). While doing work you get a clear idea about your learning.
Blog/Write — Blogging is a skill that will improve after writing more and more. You need to write frequently and reach a point where writing becomes your second nature.
Consult — After writing or blogging you should go into the consulting field. Start consulting to businesses. In this case, you will get multiple clients with fewer efforts.
Mentor — To become a Mentor to someone, you should have a lot of hard work and commitment. Mentoring will help you scale your understanding. Mentoring is basically consulting to 100 or more than 100.
Startup — After mentoring, you can start your startup. Before reaching the startup stage you already have a lot of experience, knowledge, and business strategies. So you can do your business well. And, then you have to continue this cycle even if you don’t do a job.
If we implement the above marketing things in our business like Integrated marketing, you will notice big changes in your business. Content marketing is one of the most effective lead generation, branding and sales.
“Keep Reading, Keep Learning, and Keep Writing.”
Now we introduce you to DesignLab, one of the best Digital Marketing agency.