What is marketing ? How it can increase your reach to more people ? If you are thinking the same this article is for you. This article will be useful for bloggers, professionals, v-loggers, freelancers and entrepreneurs.
Marketing has a longer life than any other things out there, its been around since the first market and will go along till we have products/services to sell. this makes it an important thing in our lives. A lot of companies rely on marketing for their functioning.
Marketing starts before you have a product and on even after sales and thats what makes it so important for a firm. It gives direct return on the investment unlike other investment like production, human resource management, accounting and administration. These are the other important investments which doesn’t gives you returns as quick.
Marketing has to be performed by the founder only. Later an executer can be hired for the execution at the final stages but at the starting stages strategic work has to be done by the founder itself and should not outsource any marketing agency completely.
Now let us discus the Law of Marketing. And why marketing is a science and not creativity ?
“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself… The aim of marketing is to make selling superfluous.” — Peter Drucker
Considering the quote above marketing is aimed at the increasing sales. And it starts by understanding the customer and making a product that a customer finds useful. This means it is a science and not a creative idea of selling whatever product or service which was already there in the market.
Marketing is about sending the Right message to the Right person at the Right time. For example, if you want to sell a comb you should target people concerned with their hair. That is your market young crowd wanting to style their hair and not the old people with less hairs.
Marketing is a perception, it shows how you present the product in the market while the product is the reality. So your product should be your main concern even before marketing. The quality of the product matters the most and if your product is not of good quality, even marketing won’t help in selling it.
Marketing is also about building trust with your customer. Building trust in your customer will retain them for life. Believe it or not the most important part here is communication just simple communication. Proper and effective communication will make your customers trust you. The rest is upto your product, these things alone can convert your customer into your brand ambassadors and word of mouth is best marketing trick ever.
Next is your Communication Skills, good Marketing comes from good communication. Understanding your target audience and transferring your thoughts effectively to them is good communication. Communication should be simple and connect you to your customer.
To improve your communication skills you should write a lot, write like you talking to someone next to you. Think in english (or the language you want to improve), watch stand up comedies or sitcoms to work on your skills it will help a lot.
Building a Strong Brand
First select a category in which you can be the only one or where there are less player in the market. So that the particular target market could be easily captured without competing with already stablished bigger brands in the market. Then aim to be a leader in the category or the segment selected. Category selection should be such that your brand is the only one, not even no.1 but the only one just like Google, Xerox, Maggi or Uber.
Position your brand as no.1 or no.2 in the market, every market gets down to two player in long run like Pepsi and Coca-Cola. And always keep your unique selling point so consumers can find your brand as a better substitute to others, this will help grab the market and stay longer.
For example, Colgate already had the toothpaste market captured but when Patanjali launched there herbal toothpaste Colgate was forced to rethink about there already well stablished product in the market. Herbal toothpaste was the category Patanjali selected and still leading while Colgate tries to complete in the herbal segment with their other products like Colgate Vedshakti.
In todays world where you can have every thing and still own nothing needs to build and hold some of your own personal value. Like Warren Buffet is worth more than any of his firms, it’s his personal value which makes him stronger in the market. To have such personal worth people should known you are there and also good at a category. The best known will always beat the best in the market. So market yourself as you are best available out there.
Always make it as personalised as possible, people would like to hear out from other people they can trust and not from just a brand in the market. People can always trust and connect to other people out there but not happens same with a brand. So, personal branding is also important and should be considered.
This is a CATT Marketing funnel. This is an effective way in a step by step process to show how to gather people, tell them about your product and finally convert them to your customers. This will help you generate wealth. This is how it works:
Niche [n] : First step is to choose your niche or the category. This is the most important and strong step as the rest depend on this one step. It will be difficult to change niche later.
Content [C] : Once your niche is selected, you have to create useful content to connect people of your select niche. Like blogs, videos, posts etc.
Attention [A] : You have to gain attention to the content that you have created. You can use SEO, social media or any other platform you like to expand your reach.
Trust [T] : Next is to build trust amongst them with the regular communication. This will help retain the audience and the audience will always look forward to you before any other player in the market.
Transaction [T] : Now the final step should be easy for you which is to convert your audience into the customers. At this point it will happen naturally.
And this is about the Science Of Marketing for the time. All you need to keep in mind is you should focus on the product more than the marketing, understand your customers best possible before making a product. Then the communication should be simple and polite but effective. Build trust among your customer to make your own tribe which will retain them for life. Make your brand well known in the particular segment by choosing your niche market very carefully. Then this is enough to make brand successful in the market and convert your audience into your customers naturally.
—This article is part of an assignment from DDIP.