Marketing a Complex Dynamic and Continuous Process.
November 9th, 2020 by Hr. Sathya Narayanan
“The best marketing doesn’t feel like marketing.” — Tom Fishburne.
Do we really need Marketing for Next Generation?-Digital Medium Marketing?
Do you want to understand the fundamental of Marketing and its Components?
Do you want to explore Digital Marketing Contents? Let us see…..
Below Article will give the reader an overall picture about what is Marketing, Fundamentals of Marketing, Comparison of Traditional vs Digital Marketing, Integrated Digital Marketing, Niche Selection,Personal Branding and Mass-trust Blueprint.
Purpose of Marketing :
ToBuild a Brand and Capture a Position in minds of Customer.
The Law of Marketing :
Marketing is a game of Belief. Good Product sells itself.
Product Importance should be more than Marketing.
Fundamentals of Marketing :
The Marketing is the process where a marketer understands the needs of consumers and converts to a Product or Services.
Understanding the needs of customers is the first step of marketing which starts much before the product designing and making.
Marketing is based on Science with Facts and Figures, not merely on Creativity
Marketing is about approaching right people at right time with right Product.
Marketing is about exploring new source of Customer at regular Intervals , as side keeping the existing Customer Comfort by providing Customer Delight Services.
Marketing exists based on Trust between the Product owner and Client on a long run……..
Marketing is the Process of getting clients or Interested Parties both for Product and Services. It’s build on Research, Promoting, Selling and Distributing.
Marketing 4 P’s Consists of…..
Product : Based on Needs and expectation of the User Products evolved.
Place :Location can be Virtual ,Physical across towns and Countries considering global service.
Price :Margin expects out of Product or Services extended considering Past, Present and Future facts and environmental Conditions.
Promotion : To scale the Product or Services within the boundary over a period of Time.
Marketing Components consists of ,
- Advertising 2. Sales 3. Copyright.
Word of Mouth is a Good Marketing Technique.
When you think of Search Engine, Google come to your mind instantly due to word of Mouth .
Type of Marketing:
Digital Marketing : This Marketing Focuses on developing a Strategy solely within the digital Environment.
Direct Marketing : This type of Campaign based on direct and two-way communication that seeks to trigger a result by a specific.
Email Marketing : This is Effective Techniques in terms of Return. Sending emails to your audience, make sure define your segments well.
Mobile Marketing : Broad Concepts which brings together all marketing campaigns and actions focused exclusively on mobile platforms.
A marketer has to understand the consumer’s mind.
What a consumer want? How the consumers perceive the products?
How much the consumer willing to pay ?
After purchasing the product, what kind of support the consumer want?
Feedback is the final Process of Closing the Marketing Loop which is considered an important process of marketing.
Communication is like Heart of the Body System. It’s Inevitable in Marketing.
Communication to be Simple and Precise.
One must need to Understand the following factors before Communicating.
What to be Communicated ?
When to be Communicated?
Whom to be Communicated?
Above factors plays are large role in Success of Communication.
Communication to be a Closed Loop System, where the Sender Send Message and its Complied and Delivered to the Receiver.
And in turn the Receiver should close the Feed back sending communication to the Originator / Sender.
This will ensure the Success of Communication Process.
Digital Marketing vs Traditional Marketing:
Traditional marketing is a conventional mode of marketing that helps to reach out to a semi-targeted audience with various offline advertising and promotional methods.
Traditional marketing is a type of marketing that is hard to ignore and includes the traditional ads encounter on a daily basis.
Many of the common and most tried offline marketing tactics come under the following five major categories:
1. Print (magazines, newspapers, etc.)
2. Broadcast (TV, radio, etc.)
3. Direct Mail (catalogs, postcards, etc.)
4. Telephone (telemarketing, sms marketing, etc.)
5. Outdoor (billboards, fliers, etc.)
Traditional marketing may have evolved over the past few decades, but the fundamental aspects remain the same.
De-Merits of Traditional Marketing
Traditional marketing is still effective, but falls under following,
- Little Interaction,
- No Control Over Timing,
- Higher Costs
- Limited Customization Options
- Cannot Be Easily Updated
- Inability to Disclose Full Pricing Details
- Poor Campaign Measurement
Digital Marketing :
Digital Marketing changes the World Tremendously. With the penetration of social media among the mass population, digital platform becomes the most significant platform for the marketers.
According to Various dot com websites as of January 2020,
59% population worldwide use internet,
49% of population all over the world use social media.
More than 80% of shoppers/buyers do their research online before investing in a product/service.
94% of B2B Marketers are actively using LinkedIn for Marketing.
Mobile will be accounting for over 70% of digital ad spend by 2019.
90% B2C businesses report social media as being the most effective content marketing tactic.
Merits of Digital Marketing,
#1: Higher Level of Customer Engagement
#2: Ease of Measuring Results
#3: Bigger Audience Range
#4: Less Expensive & More Effective
Get the fundamentals down and the level of everything you do will raise
Choose Niche Carefully :
There is a popular sayings
“ Be the HEAD of a CAT, rather than a TAIL of a LION”
Focus on a Core Area,and build the Expertise.
Don’t try to do so many things at a time, which distract the Focus and Personal Value.
Analyze and find area of Specialization matching the Passion which directs to Positive trends towards scaling.Consider the Market demand for that Specialization and draw a Vision Statement before selecting the Niche.
How to optimize your Marketing campaign-CATT Funnel
A marketing funnel describes customer’s journey with the Marketer.
Evaluating Desired Funnels, pay way for Scale up Sales,loyalty and Strong Brand.Funnel is based on wealth which is totally based on selection of Niche.
One and Only Formula to Explain the Funnel Technique….
Wealth = n ^ CATT
Where n = Niche
Both Success and Failure depends on Niche,which is Chosen.Wealth is directly Proportional to Desired Niche!
C Stands for Content :
Attractive Content always attracts Niche and Created Wealth!
A Stands for Attention :
Get High Traffic with Support of SEO.
T Stands for Trust :
Build Trust among Audience,with Support of Automation.
T Stands for Transaction :
Convert Leads into Sales Invoice with Support of Sales Technique.
Further Marketer to have an Eagle Eye on Market.Upgrade Content to match with changing in views of the Customer. Business is a directly Proportional to Innovation and marketing.
Lack of Innovation results out of Market :
The message : “ Innovation is Inevitable ” in Today’s World.
Customer Satisfaction measured as Key Parameter, which has innovated by Customer Delight.
Integrated Digital Marketing (IDM):
IDM is an Assembly Process where, different IDM Methods are Interlinked / Integrated among themselves and Support each others by it’s own strength rather looking to target of Increasing revenue and Customer Base.
Customizing IDM to Product requirement which Scale up the output in long run.
Some of the Common Digital Marketing Methods are :
1. Search Engine Marketing (PPC)
2. Search Engine Optimization (Organic Traffic)
3. Email Marketing
4. Social Media Marketing
5. Digital Display Marketing
6. Content Marketing
Flowchart describes the process of integrated digital marketing.
Each one serves a unique function:
Content : Quality and relevant content helps Establish authority, build trust, engage the audience with the brand by providing Quality and Relevant Content.
Mail : Efficient tool available to online marketers today . Works best when used with permission (opt-in subscribers).Supports send out information about new content and follow up .
Social Media : Efficient tool focusing on Group Audience. Likely People are authentic and honest with feedback and suggestions in a social atmosphere.
Search : Promoting potential customers to find your content and offering directly searching for it. Analyzing and doing basic on page SEO and then doing all the other things right will definitely Increase the Targeted Traffics from the search engines.
Ads.: Speed up the Entire Process by via Paid AAds.
IDM Process like a catalyst for ads which maximizes the ROI on the Money Spent.
Personal Branding : Mass Trust Blueprint:
Personal branding is about managing your name — even if you don’t own a business — in a world of misinformation, disinformation, and semi-permanent Google records. Going on a date? Chances are that your “blind” date has Googled your name. Going to a job interview? Ditto.
What is Personal Branding?
Person is treated equivalent to brand which inherits the value. People trust on that brand name. People Trust on Brand Name. Name with the Person itself a Brand which sells on its own.
Be the Only one not the №1 by way of creating Unique Product & Services.
Category Leadership comes under Branding.Choosing a Category and be the leader in that Category or be a Monopoly without Competition.
Deciding whether to Compete or being Monopoly is the Key to Success.
Example : Steve Jobs, Jeff Bezos, Bill Gates, Warren Buffet, Digital Deepak are few names which have a strong personal brand value.
Mass trust is the Outcome of Millions of People Trustworthy on a Person or Brand!
Digital Deepak has Copyrights reserved for Mass trust and Released a Blue Print.
Learn : Learn Thoroughly about the Subject and research well.Learn Concepts and Latest trends in Respective Field.
Work : Start working on Small Projects,Implement and Get Practical Experience.Experience make everything.
Blog : Write what you learn as you speak ,use simple words matching with your vocabulary. Keep Writing ,Writing & Writing …….
Consult : Get Consulting assignments from your near and dear.work on their Project. Understand the Process flow.Implement the Path you learned and try give suggestions. Track the Development ,if its shows Positive results you are on the track for Scaling and Negative go back to Fundamentals and work from there.
Mentor: Evaluate learning by teaching others. It help to make concepts clearer.
Start Up: Create a Product or Service and brand it.
My Personal Experience with Marketing
Got 15+yrs of Exp. in R & D Automotive Sector dealt with difference clients and Innovated Products to match client Requirements.
Two Approaches of Marketing having a Unique Product and Client will approach you and other is Client oriented Product. where you need to approach.
Customer Satisfaction replaced with Customer Delight Services!
Customer is the King and the King never Bargain- Recent Marketing advt spotted on Digital Platform.
Marketing is a Continuous Process as long as market Exist………………..
Keep the Marketing Fundamentals strong,helps to Sail the Marketing Journey in all Situation. Ex.– Both Peek &Recession Period.
Concentrate on the Marketing Step Stones and not with the Medium of Marketing.
Due to Technology Change,
Medium of Marketing keep Changing!keep in Mind
Example : Today Digital Marketing Positioned at the Top Compared to other medium,which may change over a Period of Time.
Be Clear in Communication and in choosing the Communication channel which largely play an Important role in deciding Success.
What you Need and What is Market Needed are Two Broad Vision,based on Niche to be Chosen.
Integrated Digital Marketing (IDM) — Human Body function is the Best Example : How ?
Synchronization of 12 Human Organs results the Person to be Alive.
When Comes to Personal Branding
“ Be the Head of a Cat rather than a Tail of a Lion”.
Marketing is about Customer Delight.Its about Proper Communication of Product and Services.Its a Science with facts and figures.Innovation is a Part of Marketing.
Digital marketing is need of hour considering the Market Potential.
IDM Strategy , choosing Niche ,CATT Funnel Technique and Passion towards reading and learning gives confidence to become success in Digital Marketing.
This article created and Published as a part of Digital Deepak Internship Program, which aims for Training and Development Purpose only!
If you are Interested in learning further on the topics, you may join the Next Batch Internship Program Conducted by Digital Deepak.
DDIP Batch 5 Program Link https://deepak.me/internapply
Hope the above article gives you a pleasure in reading and understanding the topics!
Please do leave a Comment which always motivates the reader!
Further Reading :
1. Edge of Sanity by Deepak Kanakaraju
2. Economics in One Lesson by Henry Hazlitt.