Every business irrespective of scale is a fail without a proper marketing strategy. Have you ever noticed the vegetable seller screaming in a peculiar tone to attract customers? How likely are they to get customers than those who only have vegetables on display? Well, let's find out…
“Business has only 2 functions-marketing and innovation.” — Milan Kundera
Marketing is all about tactics that spark the right customer's interest in your product and company. So does marketing end after a product is sold? No. marketing is a broad concept. It not only ignited the customer’s interest in the product but also convert the interest into sales. And then build customer trust and rapport post-sales. Thus marketing is an endless job. Most people perceive marketing as a technique to drive sales and then get over it, which is not the case actually.
“Marketing is just a game of developing trust with lot of people at the same time, especially strangers. The word of mouth will become your biggest marketing asset.” — Peter Drucker
The Law of Marketing
Marketing starts even before the product is launched. Marketing strategies well planned during the product ideation stage helps to deliver the right message to the right people.
As rightly said by Deepak Kanakraju, the Perception of a product is marketing. Marketing uses communication and advertising tactics to create curiosity about the product and persuade the customer to take a genuine interest in it. Half the battle is won here. Focusing on how the product solves the customer's needs and problems drive the interest in sales.
Why is it high time to go digital?
Imagine the vegetable seller we talked about yelling out to sell his tomatoes in a market interested in buying brinjals or cauliflower. There won't be enough interest in his tomatoes right. Consider the second scenario where he targets only customers interested in buying tomatoes, the chances of conversion is high. Only 10% would be interested in buying out in a diluted market, of which 5% would actually buy it. But in a niche-specific market, 80% would be interested in it and 50% would actually buy. Thus leading to a higher conversion ratio. This is where digital marketing stands out in front of traditional marketing.
As technology adoption rises in India your customers' expectation of your business also increases. Your customer demands high-quality communication through the internet and social media, engaging content and online experiences, and innovative experience. More and more people are entering the online space and looking for solutions online. Social media is booming like ever and it only makes sense to market your product where the market thrives.
Properly envisioning a marketing strategy to reach out to prospects is a game-changer. A tool that I personally follow and has tremendous scope of delivering proper marketing is the CATT funnel.
n depicts niche. Developing your market strategy around your niche is imperative. People looking for unboxing videos are likely to visit youtube than blogs. Your content should adopt the platform your prospects prefer.
Your wealth depends on how your content ( C ), attention (A), trust (T) and transaction (T) revolves around your niche. Create meaningful content which drives the attention of people and develop an interest in them for your product. Grab their attention through lucrative content so they land up on your landing page. Well written quality blogs, attractive social media posts, paid ads builds momentum and breaks the ice between seller and customer.
The main factor driving customer from the landing page to sales is trust. people buy from you if they trust you. Apple has consistently delivered quality products over time and build trust post their sales by prompt servicing. Always deliver more than customer’s expectation, they feel obliged and develop a stronger trust with your brand. This trust then translates into sales, i.e. transaction. Thus a proper marketing strategy targeting the right customer from a particular niche, developing trust leads to a sale.
As our body performs actions better when all parts are well-coordinated and engaged, marketing works better when all its areas are well integrated and coordinated.
All its parts work around content. Good content is the base structure for your good marketing. Your content reach should be boosted by proper SEO techniques. Paid ads should be such targeted that your content reaches a wider audience niche specific audience. The content to be structured in such a way they sign up for your email list and spark a genuine interest in your product.
Your social media posts should not only impart knowledge but also generate curiosity to know more which in turn diverts the traffic to your blog, where they can sign up for your newsletter or landing page. As they engage with you pitch them your product converting a lead into a customer. Marketing works best when all its streams work in tandem and guide a customer towards sales.
Customer feedback is the most underrated part of marketing. Your business misses out on serious improvement scopes if you don't prioritize customer feedback.
Most companies ignore this after-sales job as they are satisfied with the product sold. Customer feedback is a tactic to earn some genuine improvisation tips for new customers and also build trust amongst your existing ones. Your online presence makes it easier for them to reach out to you.
Do you know what is common in most of the top companies in the world? Their CEO/founders are the talk of the town. Steve Jobs, Mark Zuckerberg, Mukesh Ambani, Sunder Pichai, Elon Musk add a personal touch to their product and companies.
People associate more with people than empty letters and pictorials. Better communication, better trust is established when entrepreneurs brand themselves along with the product. Customers bond well with leadership personalities trusting the product even more.
Personal branding describes where you stand today and what level of visibility you plan to achieve in future. People look to you, your vision, your problem solver attitude with hope.
Implementing a proper integrated marketing plan that also focuses on building your personal brand is what I envision Marketing 2021.
As we evolve, our needs change, our lifestyle changes and so shall your approach to customer relations should change. In the past customers navigated through traditional sales funnel comprising of awareness, interest, consideration, intent, evaluation and process. Today, the scenario is different. Customers look for an engaging interface, adaptive technology, state of art solutions. The changing dynamics demand marketing and sales leaders to work more closely together and engage with customers across different touchpoints and then lead them to end to end customer experience.
If the article sparks an interest in you to innovate better marketing to skyrocket your sales, I recommend you follow Hubspot blogs to learn more. Also if you love reading books check out Marketing 4.0 and Building a StoryBrand on Amazon. Happy learning!
If you are a travel freak and enthusiast, check out this blog on travel trends post corona — https://theunsaidtraveller.com/travel-trends-post-covid/