The next big thing in Marketing, Branding and Economics!!
This article is all about the realities in today’s business world.Everybody wants to be successful & free from the financial burdens, we can all achieve our wishes only if we follow the laws of marketing.
Well we all have always been fascinated by the amount of assistance.Technology can bring for our well being however we are still confused and absolutely clueless about the fact that we cannot choose the kind of lifestyles we would want to pursue. It seems that ,We are in reality settling for less.
Why is it important to acknowledge that there is a gap in understanding how the financial world works, as the famous quote goes “knowing that there is an issue is half solving it !!”
This article is for everyone & specially for the budding entrepreneurs who are trying to stand out from the crowd.
What are the fundamentals for Marketing, Branding & Economics ?
Why do we need to understand it?
Let's dig deep into it !
Marketing is a vast ocean which has the entire world wrapped in it, it starts before the creation of the product & is a never ending process because customers trust and satisfaction is really important.
When it comes to marketing, people always first think about sales however it isn’t the first step.
Trust is the main thing when it comes to marketing. For e.g. Apple products don't need much of marketing because they already built the trust into their product.
"Product is rooted in reality, never let marketing become more important than the product. A great product sells itself” says my mentor Deepak from DigitalDeepak.com
Marketing is creating a last impression in the prospect’s mind. Now, to do that we need to understand how it is done . Let me get straight to the point, the Golden Rule here is "You have to reach consumers through right marketing channels”.There are many channels through which one can achieve the targets set for the business or individual goals, one thing remains clear here that every situation demands a different approach and with the correct tools & techniques, a proper channel can be initiated for the best results.
Let’s take an example, If one needs to market their products in various online platforms then it is imperative that all of the online marketing tools & techniques are implemented in the correct way and that with few paid as well as non paid Ad campaigns we can target the correct audience to yield quality results.
Digital marketing VS Traditional marketing
Let’s find out more, Shall we?
In today's digital age marketing has drastically changed, almost every business has drifted to digital marketing space.Every waking hour, businesses are evolving, times like these are essential to embrace technology to overcome the daily challenges of making sure we stay relevant.
On a contrary, there are businesses which are still using the age old traditional or rather conventional methods to promote their business. In fact, these are the businesses who are adamant on continuing to use old methods to satisfy the needs of the business, which in all fairness is comforting to learn their perspective.
Question is not really about Old vs New, it's about how we can minimise the gap.
Digital marketing & Traditional marketing plays the same role when it comes to marketing. Although digital marketing is slightly ahead of the traditional method as per the marketing trends, It is equally important to spend resources in the right direction. Getting the right audiences and converting them into leads and life time customers is really important, however, there are people who still don't use the internet for any transaction while some are dependent only on the internet for daily basis.This clearly states that there are lots of opportunities for digital marketing companies for value creation.
The way it works is to identify key roles of various Marketing strategies.
CATT Marketing Funnel
CATT Marketing Funnel..well what is this funnel?
Let’s learn more about it CATT (Content,Attention,Trust & Transaction)
Before we begin to learn about CATT, I would like to begin with a powerful statement ,
“Your success & wealth depends on the niche you choose"
CATT as we know now, stands for Content, Attention,Trust & Transaction.
Let's dig deep into it !
Content is for a powerful tool to attract your viewers and understand their interests in your niche, well if we have beautifully created content, which is not only engaging but also informative then viewers would be glued to the screen reading,watching your content.
Content creation is simply a fine art of engaging your target audience so eventually converting leads to sales.Ways to content creation are Blog, Post, Videos, Lead Magnets, Live as well as webinars etc.
Let’s now talk about Attention (Traffic)
Driving attention (traffic ) has multiple ways of implementation, on elf the most efficient ways are SEO, Social Media, paid Ads and referrals. If there is a concentrated effort in driving traffic then we can successfully achieve the goals on the organisation or particular campaign.
What’s the Trust factor here?
Building Trust means that a lot can be achieved just by simply making sure that the customer's trust the brand.
Target audiences love to be associated with brands that are trustworthy, it can be achieved with utmost sincerity in the process of getting the values of the organisation reflected in the product or services. We can build trust with various methods like Marketing automation, re-affirmation & re-targeting process and overall striving to achieve a brand value.
Transaction is the last but definitely not the least, as it is the final confirmation of all the efforts that have gone through to make the marketing channel successful. It is to convert your leads into paying customers with the help of natural sales methods. I cannot emphasise enough the importance of CATT as we know it. Businesses who have always followed the fundamentals have always sailed through even in turbulent times.
Integrated Digital Marketing
Integrated digital marketing is a combination of multiple digital marketing channels and methodologies. It has been proven that a successful business always has integrated digital marketing running in the background. So, what is integrated digital marketing? It includes simple yet powerful tools or techniques which are as below:
Web development and design
Search Engine Optimisation (SEO) and search engine marketing (SEM)
Content marketing
Social media marketing
Sales & conversions
Paid advertising (or pay-per-click advertising) campaigns
Email marketing
Web development and design means that businesses can now easily pick up the pace when it comes to web development and design, thanks to the ever changing technologies. There are many new web development tools for making websites for small businesses & startups.
SEO is another tool which can help businesses achieve integrated digital marketing goals. SEO stands for search engine optimisation, it helps to get the quantity & quality links to your website through organic search results. Search engine marketing is a paid traffic that comes from Search Engine Result Pages (SERPs).
Content Marketing & Social Media Marketing go hand in hand, it means any content which is developed with the sole purpose of making sure that the products & services are advertised in the best way. Few example of content marketing would be Blog, Posts, Videos,Audio,Live, Webinars
Social Media Marketing is purely on social media, any marketing which is done over social media platforms like for e.g. Instagram, FB, Twitter..etc
Sales & Conversion is making sales through ADs, Pay Per Clicks, Paid Advertisement. It’s not only paid but also through non-paid channels like organic traffic generations.Paid advertising
(or pay-per-click advertising) campaigns are usually the integrated medium of Videos, Post where once the user clicks, it redirects them to the advertiser. For E.g. Youtube Video Ads, FB Ads or any website where the Ads are run.
Email marketing is a powerful tool for generating interest / traffic for both paid & non-paid contents.
Email campaigns can help generate workable data or the insights in terms of getting customers or leads, demographic representation can help identify the pockets where the customers or leads are located.
Personal Branding: MassTrust Blueprint
Why is personal branding important?
It is a combination of various techniques & Skills through which any individual can definitely establish a personal brand.
To build your own brand, one needs to build a strong brand presence both offline as well as online.
Being creative isn’t enough, we need to make sure that all the aspects of the Personal brands are covered & once it is then we have a brand value. When it comes to personal branding and marketing is not just about selling your products or services.
It is about the trust we keep with the existing customers as well as new customers. We need to build trust, take good care in fulfilling their needs. Branding is how you showcase yourself online and offline spaces, for.e.g When it comes to any businesses whose sole business model is online only, it surely makes sense to gather all the correct information about the product, services as well as the reviews.
It is but natural to receive feedback whilst trying to conduct business online as the customer would be little more tech savvy than the customers of offline space.Thus, it is important to always make sure that the presence is as neutral as possible. Customers always get attracted to new & trending spikes in most of the online hot topics be it Fashion,Music or Products, in such a volatile market, it is absolutely necessary to have an online presence which can welcome people from all backgrounds, cultures and social strata.
Lets now discuss the hacks of a personal brand:
Learn: Learn some new skills and understand the concepts and execute them. It is very important to put in the effort and take necessary action. Without implementation actions words only remain lifeless. Don’t just wait for the answers.Take Action !
Work: Once we learn something new, it is important that we try it out ourselves & that we can check for our own understanding as to why, when, what needs to be implemented. Put your new skills proactively and start implementing. Learning something new & implementing it always has its perks.
Blog: Blogging is important when it comes to branding. Write something that is relevant to your branding or anything that is happening in real life situations. Engage with your audience by sharing your information via blog posts.
Consult: Consult and support other businesses. Help them to grow too, this is where you will be a vital part of the ecosystem.
Mentor: Mentoring others takes you to a different new level, it will not only enhance cognitive abilities but also impart knowledge and skills in others. It is a value sharing mechanism where both trainer & the trainee learn something new. In the process of sharing or rather mentoring there are ample of things an individual can unfold and as they say sky's the limit, so it is believed that mentoring helps in understanding the current trends and also it boosts the culture of helping each other in similar domains.
Startup: Once you understand the concept in marketing, branding and economics start your own business. Implement your new skills and just start doing it. Startups are well known to be very efficient in terms of overall performance and that it is believed that we need to have more startups across, while we can discuss how good a startup mentality is, it is imperative that we choose to be hungry to learn and implement, so that we can achieve great results
Communication Skills
We always hear that Communication skills are important.
Let’s understand why ?
Communication skills are attached in every aspect of your life from your professional to businesses to everything.
Marketing is all about good communication. A good communicator can connect better with the audience & express ideas more freely.
It helps in making sure that the brand message is delivered in the right context to the right audience in the right way.
It is very important to recognise the value of communication skill as it can help communities to come together as well as brands to stand out in the crowd. Various researches have been conducted throughout, where it has been mentioned that whenever there was effective communication there would be absolute supremacy.
Let's talk about commonly known types of communication : Verbal & Non Verbal
Verbal communication as the name suggest, is the form of the communication which can happen only verbally (talking, conversations)
This is the one of the most effective ways of communication as it involves a direct feedback mechanism which means that this type of communication always is going to be interactive. On the other hand, Non Verbal communication means that it involves gestures, sign languages, some tangible means are books, newspapers ..etc, these are also effective however it is not interactive enough. Such communication skills have its own limitations.
Why is communication important for business ?
Let’s agree that all the businesses are actually providing some sort of product or services for human kinds & its consumption.
It doesn’t matter what the media is for communication, all of the companies are heavily focused on making sure that their message is spread efficiently. It is very simple to achieve high grade results in terms of getting the correct communication skills in place as there is always going to be the needs for the companies, businesses & communities to communicate with each other.
Key factors to a better communication or rather efficient communication is to understand the local needs, communicating with the targeted users with the kind communication they are more comfortable with and making sure that we always listen to the customers. By implementing such skills & imparting the language skills greatly improves the communication.
So, overall this article will give you insights of The Next big thing in marketing, branding and economics!!
All of the ideas, views, concepts shared are simple to use and if giving enough attention it would possibly be beneficial for the likes of all who want to succeed. Hoping that you will find this article post helpful.
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Writer : Imnuksungla Kichu
September 2020
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