In this article, I going to write about why marketing plays an important role in Businesses
first, we have to know what is marketing?
- marketing is an activity company undertakes to promote or selling of their product or services.
- many believe that marketing is based on creativity, it’s not true it is based on science, why I say it is based on science because it involves reading the customer’s mind, it involves data.
- it objectively using data to support decision-making. We also want to make sure that Marketing doesn’t overtake the product or service which we provide.
- because great products convert your customer into brand ambassadors.
why I say this because if your product or services satisfies your customer, they recommend your product to others. word of mouth marketing is the best channel of marketing, for example,
we take two movies releasing on the same day. one with the big hero and another with new faces, people give preferences to first one with the big hero
because they are already well known to them and they have their fan base irrespective of whether the movie is good or not.
- the latter one will pick up only through good reviews this is one of the examples of word-of-mouth marketing. we can see the fundamental of marketing
fundamental of marketing:
4Ps of marketing:
1) Product: What are you selling? whatever product or service you sell you have to think about how to promote or present it to the customer.
2) Price: you have to determine the price of your product depending on the market.
3)Promotion: These days, marketers have many channels through which to promote their products. From radio ads to social media banners, you’ll need to decide which are right for your brand.
4)Place: Your customers need to be able to find and purchase your product.
next, we can see about types of marketing
Traditional marketing Vs Digital marketing:
any type of marketing which isn’t online is traditional marketing. It is a convenient mode of marketing that helps to reach out to customers with various offline advertising and promotional methods. Traditional marketing is a type of marketing that is hard to ignore and includes the traditional ads we encounter daily.
common methods of traditional marketing are:
1)Broadcast (TV, radio, etc.)
2)Direct Mail (catalogs, postcards, etc.)
3)Telephone (telemarketing, SMS marketing, etc.)
4)Outdoor (billboards, flyers, etc.)
5)Print (magazines, newspapers, etc.)
TV is one the most important medium to promote the product.
TV ads can reach millions at a low cost.
India has TVs in 197 million homes out of 298 million homes.
with an average of 4–5 members per households, TV has a reach of
800 million to 1 billion people.
The reach of digital marketing is nowhere close to TV based on numbers alone. (source: Wikipedia)
Radio has a reach of 65% of the Indian population
(source: financial express)
The newspaper has a reach of 465 million people
(source: Business Standard)
The limitation of digital marketing is that there is no interactionbetween the customers and the medium used for marketing.
Traditional marketing is a one-way street where a business can broadcast or provide information to its target audience about its product or service.
you cannot do deep marketing, natural sales.
The recurring costs in traditional marketing can prove to be a huge investment that may or may not give a good return. Your ad in the local newspaper will only be effective if it is seen by your target audience on the day it gets published.
any type of marketing which uses an online platform or electronic medium to promote the product or service is digital marketing.
it is also the promotion of brands to connect with potential customers using the internet and other forms of digital communication.
This includes not only E-mail, social media, and web-based advertising, but also text and multimedia messages as a marketing channel.
in digital it is easy to connect with targeted or potential customers.
The reason why digital marketing is crucial for a business today is that the Internet is becoming one of the most used tools.
The risk is smaller when compared to traditional marketing.
lower cost compared to offline advertising.
it is easy to reach a prospect and targeted customer.
a properly planned and well-targeted digital marketing campaign can reach the right customers at a much lower cost than traditional marketing methods.
measuring your campaign with web analytics and other online metric tools makes it easier to establish how effective your campaign has been.
Digital marketing is the best medium to reach the affluent English-speaking population in India with spending power.
Dependability on technology.
cannot reach a huge audience compared to TV in India.
Next, we can see CATT Marketing Funnel, why it is useful for the marketer
CATT Marketing Funnel:
n- Niche: you have to choose a Niche carefully because your success and wealth depend on the niche you choose
because everyone looks for a specialist, not a generalist.
C-Content: Content is a king without content you cannot reach the audience. everyone must create useful and attractive content which must attract people from your niche. (Blog posts, videos, lead magnets, live webinars, etc).
A-Attention: drive Attention to your content using social media, SEO, Social media, paid ads, and referrals.
T- Trust: we have to build trust in our customers without trust customers can’t last with us. if you fail to build trust then you can’t sell your product.
T- Transactions: if you have done all three steps efficiently. then the conversion will happen lead automatically converted into sales and transaction will happen.
Integrated digital marketing:
In digital marketing, there is a lot of modules
like E-mail marketing, SEO, Social media, paid advertising, Content marketing. but a lot of marketers tend to use each module separately to get sales. but when they do not get sales, they get disappointed.
the only way we can get traffic is through Integrated digital marketing
Integrated Digital Marketing is like a team with content as the leader and the various other digital marketing methods are like its team members.
you can advertise your free content using paid ads, then you can bring people into your E-mail list, then you can promote your content through your E-mail list through that you can generate traffic to your content. this may help your content to be listed on the search engine. then you get ranked on the search engine, then you can do SEO to Boost your website. this how integrated digital marketing works.
Personal Branding: MassTrust Blueprint
Personal Branding is very important in every field. because people listen to the person than the company.
for example, you take YouTube in YouTube people used to make videos using various niches. in that, there is company or media and the individual but Individual tend to get more reach than the company. this how Personal brand works individual tend to get more attention than the company.
In India, there is a lot of digital marketing company is present, but Digital Deepak will get more attention because he is a person, this is how the personal brand works. once you become a personal brand you can easily sell your product or services.
it takes time for everyone to become personal brands
here I give you the Blueprint for Evolution of personal brands which are called Mass Trust Blueprint.
Learn: 1st step in the evolution of a personal brand is learning new skills
everyone has to keep updating yourselves then only we can become a personal brand.
Work: after learning the skills we have to start implementing them, implementing them in the real world will give us a better understanding of the concept.
Blog: write a blog about what you learned and experienced through your work. while writing you will make mistakes and correct them. it will also help you in understanding it better and then you can build a personal brand.
Consult: after building a successful blog now you can start consulting instead of working for them.
Mentor: after becoming a successful consultant. now you can start a mentoring group of people who want to become like you. it will help you to build your brand.
Start-up: after going through all the above stages, next you can start your start-up, you can start selling your product or services with the understanding you have developed with the market.
this how you can develop your Personal Brand
Now I think you have got a Good understanding of Traditional and Digital marketing, and all the other topics. Marketing is not about selling the product it about selling the right product to the right customer at the right time.
if you liked my blog you can comment and give me a feedback