Planning to start your dream business? Or are you the one preparing for first marketing gig? Wondering where to begin?
This post is the ultimate 101 guide which will cover everything you need to get started on your marketing journey…
Fundamentals of Marketing
At first glance, marketing even a single product or service can seem like an enormous challenge. You understand the value of your offering – but how do you show it to consumers? And how can you ensure they actually pay attention to your message?
The only way to keep up is to keep on reading. But with so many digital marketing blogs out there that it can be hard to distinguish between the useful reads and the digital marketing weeds.
Let’s first understand
What is Marketing?
“In simplest terms, marketing is the act of driving profitable customer action. It spans the full scope of strategies and tactics organizations use to position products and services in the marketplace, and motivate target audiences to make a purchase.”
For all its complexity, at its core, marketing revolves around four things:
Tactics and channels change, but these are the concepts everything else revolves around, and they’re principles that never change.
While having a marketing budget is important for any small business, it’s equally important to spend it in the right direction and make the most of it.
According to Peter Drucker, “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 the marketing is to make selling superfluous.”
How do you know where to spend it when it comes to digital marketing vs traditional marketing?
For many businesses, reaching the right ‘marketing’ decision is not easy, even though it can make a huge difference in their results.
By gaining clarity on the digital marketing vs traditional marketing aspect, a business can get a better idea of which marketing method is appropriate and how it is should be applied.
For instance, if you decide to use social media marketing to build your brand and increase your customer base, you could do it yourself or hire a reputed digital marketing firm to take care of it.
Digital Marketing v/s Traditional Marketing
Running a successful business is not just about choosing the appropriate market or having a high quality product. It’s also about leveraging the right kind of marketing techniques in order to reach out to your target audience and convert them into leads or customers.
Some businesses may give less preference to marketing, but if any serious business wants to increase profits, it will almost always have set aside a proper budget for marketing.
Even if you do acknowledge the need for effective marketing, the whole digital marketing vs traditional marketing debate might stump you. The reason for this confusion may arise due to the fact that even though a lot of marketing is done in the traditional way, digital marketing is steadily gaining an edge.
Yes, there are a percentage of people who don’t use the internet for conducting any transactions. However, a considerable chunk of the population is regularly using the internet for multiple purposes, including making their day-to-day transactions.
As a business, you need to ensure that you are ahead of your competition. Which means you cannot just depend on outdated marketing methods anymore. You need to look beyond and understand how you can leverage the latest digital marketing techniques to grow your reach.
So, which strategy wins when comparing traditional marketing vs. digital marketing?
The short answer: it depends.
The long answer: Digital Marketing is probably the best option for most. If you want to reach a particular group of people, wherever they may be, while keeping costs low, go with digital marketing. Doing so will also allow you to collect valuable information on your audience immediately so that you can create even more effective marketing campaigns.
Bell the CATT
Why many start-ups struggle to build the trust of their customers and building mass trust is further much more difficult?
CATT (Content, Attention, Trust, and Transaction) is a sales funnel that will help you to build the mass trust of your customers with the help of Digital Marketing.
CONTENT is the core of digital marketing, when you have a great piece of content then you don’t have to struggle to spend much for marketing. It will itself bring you organic traffic depending on the quality of the content. Content can be anything whether it is a blog, YouTube Videos, Posters, landing page, and many more.
ATTENTION is important to bring the target customer to your content after creating it; organic traffic does not come into play much for most of the content. You have to spend a little amount of money to bring the attention of the content in a huge amount but it is worth it depending upon the RoI. There are different ways to bring attention to your content, some of them are: Paid Ads like Google Ads, Bing Ads, Facebook Ads, LinkedIn Ads, and many more.
TRUST after collecting a huge amount of traffic of your content, you can generate leads from this traffic by building trust. Trust can be built by repetitive engagements, hook the user through subscribing to email lists, YouTube channels; retargeting the lead, or following your official social media platforms.
TRANSACTION, if the target customers trust your business, they might not buy your product or service. You have to offer something, which is related to your niche and then this might lead to transactions. Another way is to persuade the leads in order to make transactions and you can persuade them through different channels like sales page, webinars, a sales video, etc.
This sales funnel helps you to build mass trust, whether it is for your B2B or B2C business, and it also helps to build a long term relationship with your target customers.
Integrated Digital Marketing
An integrated and multi-channel digital marketing strategy can weave wonders for your online presence – and the future of your business.
Integrated Digital Marketing is the integration of multiple marketing strategies to form a cohesive online approach for your business.
The primary goal of integrated digital marketing is to create a strong, unified presence and positioning for your brand. It tells a single, cohesive brand story no matter what the marketing channel is.
It enables marketers to streamline their marketing efforts and optimize the marketing mix across various channels. It reaches out to the maximum number of customers and gives real-time insight into customer behaviour & RoI through data management and analysis.
To build a really effective brand strategy it requires help from a variety of people. Think of it as building a new house. House-builders fill a different role than the carpenters, electricians and plumbers. A plumber or electrician can’t really get their job done right until the structure of the home has been built. Without all of these different specialists, a home would not be complete, and marketers are finding more and more that the same is true for digital marketing campaigns.
Personal branding is how you promote yourself. It is the unique combination of skills, experience, and personality that you want your followers to see. It is the telling of your story, and the impression people gain from your online reputation. When you consistently tell your story and share snippets of your personality with your audience across social media, you will notice more people actively engaging, following, and sharing your content.
The more personality you can add to your business, the easier it will get to find your tribe. Over time you will build this community of like-minded people who value your skills and sees you as an expert in your industry.
A personal SWOT (Strength, Weakness, Opportunities and Threat) analysis is a great way to organize, prioritize, and plan your personal development. As a quick and easy no-training required development tool, it’s extremely helpful and definitely worth your time. In this modern age of communication, promotion, and marketing, we cannot defy the importance of SWOT analysis. We have seen digital brands conducting SWOT analysis on a whole new level.
Evolution of Personal branding
- Learn new skills through concepts, facts and procedure.
- Put your new skill to work.
- Write blog what you have learnt and experienced through the work.
- When you have gained enough experience, start consulting companies instead of working for them.
- Mentoring help scale your understanding to awhile new level.
- Have your own start-up or product & services business with the understanding that you have developed about the market.
Finally it is all about getting started and you will eventually learn as you engage in frequent reading, exploring and using your knowledge into practice.