“Many companies have forgotten they sell to actual people. Humans care about the entire experience, not just the marketing or sales or service. To really win in the modern age, you must solve for humans.” — Dharmesh Shah, CTO & Co-Founder, HubSpot
Marketing is not just about ‘Selling’, it’s about providing the ‘Solution’.
Welcome all my fellow digital age warriors, this article is for you if you are a blogger, freelancer, professional, entrepreneur, business, a startup trying to get your feet wet in the vast ocean of marketing and trying to figure out if your sails are pointed towards the right direction.
As I mentioned above, Marketing is not about ‘Sales or Service’, but it is about providing a ‘Solution’ at the right time, in the right place, to the right people who seek the solution to the problem they know they face or haven’t even identified it yet themselves. This is where we as digital marketers step in because —
“Clients don’t care about the labor pains; they want to see the baby.” — Tim Williams
But first, let’s chew on The Fundamentals of Marketing:
“What helps people, helps business.” — Leo Burnett
Marketing simply is a combination of strategies used to promote products or services to the consumers. But wait, it’s not that simple. If you are a commerce graduate like me, you might have heard about 4 P’s of Marketing Mix — Product, Price, Promotion, Place.
Product: What are you going to sell? Is it a service or a product? What are its features? How are you going to package it?
Price: At what price point are you offering your product or service? How much are the consumers willing to pay?
Promotion: What channels will you use to promote your product or service? Traditional or Digital.
Place: What is your setup to sell your product or service? Ecommerce store or Brick-and-Mortar business or a combination of both.
To answer all the questions posed by the Marketing Mix, we need to gather data, study and analyze it, and then based on all the research we need to devise strategies and execute them to obtain results, and hence Marketing is based on Science.
But Marketing is an Art too. We need to be innovative and effectively market our products or services, we need to make them presentable and attractive by designing beautiful graphics and packages, or websites and sales funnels.
Marketing starts with the inception of an idea. Market research based on science and statistics leads to the transformation of an idea into a product or service based on customers’ needs. Many times consumers don’t know what they want until we put it in their hands or in front of their sight. It’s a combination of science and art to identify customer needs and design the products or services they need.
Marketing needs effective media to flow through. Technically there are two major mediums, traditional media and digital media. This brings us to our next quest.
Which route to follow — Digital Marketing vs. Traditional Marketing:
Traditional marketing involves age-old mediums such as billboards, posters, vehicle wraps, TV, Radio, magazines, newspaper, catalogs, phone calls, text messages, window displays and signs.
- Traditional media is impactful as it reaches a wide audience from all walks of life everyday.
- Print media is more permanent and more memorable as it can be experienced in real life.
- Not feasible to measure.
- Expensive to an extent that it may burn a hole in your pocket.
- No direct interaction with the audience.
Digital marketing involves modern age mediums such as social media, website, content marketing, affiliate marketing, email marketing, SEM, SEO, PPC.
- Easy to measure reach and engagement.
- Intelligent targeting is possible.
- Intelligently targeted ads can sometimes be annoying.
- Less permanent as digital ads are fleeting and temporary.
- Digital media is constantly evolving.
Traditional media is suitable for generic products for a wide audience. While Digital media is perfect to specifically target affluent audiences.
Speaking about affluence, why do you think we practice Marketing? Is it for the rush we experience when we see positive results? Or is it for something above and beyond very basic at its core — wealth creation?
Wealth creation with CATT Marketing Funnel :
Basically, I think Marketing is all about CARING. Caring about the needs of your customer. Caring about the product or service you offer to cater to their needs. Caring about devising strategies to promote your brand and business to create wealth for yourself and society in general. This brings us to a very interesting formula –
Wealth = n ^ CATT
Where, n = Niche
C = Content
A = Attention
T = Trust
T = Transaction
Niche is a specialized segment of the market for a specific product or service. It is an intersection of your Passion, Talent and Market demand.
Content is the king. Create value with content and wealth will follow. Create valuable blogs, videos, even lead magnets and live webinars.
Attention is your reward when you put out valuable content. Generate Traffic with SEO, Social media, Paid ads, Referrals.
Trust is what you gain when you create valuable content and garner attention. Interact with your audience to build trust and customer retention.
Transaction happens through consistent action combining content, attention and trust. Consistency is the key to profitability. You built enough trust with your audience that it leads to profitable transactions for everybody involved.
For the formula to work in tandem with your goal of wealth creation, you need to mix and match ingredients to cook up a perfect recipe for digitally marketing your product or service. Hello Integrated Digital Marketing!!!
Device Perfect Strategies with – Integrated Digital Marketing :
As a perfect recipe needs a blend of various ingredients, so does digital marketing needs a blend of various components to achieve desired results. Let’s have a look at each component and what part they play to devise a perfect digital marketing strategy.
Content is the centerpiece. Empires are built on content, or must I say Quality Content. We need to create value for the audience through content, it’s a give-n-take, give value and get results. Consistently put quality content out there and have them coming back for more by building an email list.
Email lists are a goldmine for marketers but only if you nurture them well. Provide quality content through your emails and personalize it to create a bond with them. Invite them to follow you on your social media channels.
Social Media channels work as an instant communication tool where you can share and interact directly with your audience and build a tribe of your own.
Search Engine serves as a welcome mat for potential customers who search for a specific product or service directly. The right kind of SEO could fire up your targeted traffic goals for your business.
Paid Ads served on search engines, social media platforms, email clients, professional networks, eCommerce platforms further add fuel to fire. Targeted Ads maximize the Return on Investment on every dollar spent.
So why do we do all this? Why do we create valuable content, attract and nurture our audience, build trust? Is it just to sell or to build our brand as well? How important is personal branding?
Let’s explore the power of Personal Branding:
Definition of Personal Branding as per Wikipedia –
“A brand is the set of expectations, memories, stories, and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.” — Seth Godin, Founder & CEO, Do You Zoom
Personal branding is the conscious and intentional effort to create and influence public perception of an individual by positioning them as an authority in their industry, elevating their credibility, and differentiating themselves from the competition, to ultimately advance their career, increase their circle of influence, and have a larger impact.
Essentially, personal branding is creating a public image that is the authority in a specific field and offering a unique product or service by building trust with the audience over a period of time with the right set of communication channels.
People want to hear from people and not from brands. Interestingly, the best known beats the best. Personal brands can give rise to new brands by becoming influencers and build companies by acting as brand ambassadors.
Personal branding is all about building trust with the audience. To understand it better let’s look at an interesting concept MassTrust, coined by my mentor Deepak Kanakaraju a.k.a Digital Deepak.
Let’s learn MassTrust Blueprint:
MassTrust is what a Personal Brand achieves when it evolves by following a blueprint that is simple yet very very powerful and profitable in the long run.
MassTrust Blueprint evolves in six stages –
Learn : Acquire new skills through concepts, facts and procedures. Understand concepts, remember the facts and practice the procedures.
Work : Practice and implement. Get a job, offer freelancing services, or work on your own projects.
Blog : Write about what you learn and experience through work, and start building your personal brand.
Consult : Offer consultation services based on your knowledge and establish authority.
Mentor : Teach what you have learned and further cement your authority and position in your field.
Startup : Build brands and businesses by using your influence and expertise.
Finally to sum up everything in the Conclusion :
Digital marketing is all about gaining MassTrust to develop Brands and Businesses by practicing Integrated Digital Marketing to gain authority in specific fields and acquire wealth for yourself and the society as a whole.
What are your thoughts, please let me know in the comments below.