Evolution Of Modern Day Marketing: Macerating the Idiosyncratic

Are you still stuck? Still wondering what to do next in your career? Is the traditional marketing and strategy still not paying off...? then I believe you have landed on the right article. After reading this article, I believe to an extent your lives would be changed and your way of looking at marketing would be changed.

To start with we need some ideology or a vision where to move ahead in short a definite goal to achieve, so how to set up such a goal…?

Goal Setting: 

People say money can’t buy everything, maybe they are right to some extent but it definitely should be your first priority because in hard times it will be your wealth which will help if your relations on which you invested backed out. Set a goal for wealth because we all have invested into something to make money out of it, to create ROI out of it. Here is a simple plan to move along and set a wealth plan for future of how to generate and save money with the help of following graph:

This chart is an example, showing if your product price is Rs.100, you need 1Lac customers in order to make 1Cr in revenue, For the product of Rs.1000 you need 10k customers and so on…. In the above graph you can see that in every stage we are converting 10% of the customers from the previous stage with zero acquisition cost as we have already spent 1Cr in customer acquisition in the first stage itself. This way you will be able to convert sticky customers and by creating value in each stage through marketing you will also succeed to make the customers pay higher by communicating the value behind your product.

This is an example of Capitalizing on your Ability as per your Capability, if you feel 1 crore is a big amount, you can break it down even further to a smaller amount. I believe it is a long journey though but a fruitful journey to go for. Now the goal is set and the basic outline is ready and I believe we are good to go…!

The Law of Marketing:

Execution is more important than planning. People dream but what of making that dream into reality. How to communicate..? We all have ideas but how to implement..? Let us understand what is the Law of Marketing and how we can use it in practical execution. Marketing is a science and just not fancy, creative slogans or hoardings & I will try to convince you on that. It is a science of creating a solution to a problem. It starts before just creating a product. It is not the product ultimately which gets created, it is the solution that we provide to the daily problems and eventually sells as a product. Marketing means trust, actually mass trust and if you go on with the idea of just selling you will never be able to acquire a relation. Marketing comes way after a solution and how you communicate seems worthless if your solution in itself is so powerful that it is creating a dent in the universe. You, yourself become so powerful that you don’t need any leverage of other things. Say somehow the solution is not feasible but still your marketing campaign lifts it anyway, do you still think it will resist the upcoming perfect solution? Understand the customer, understand their pain points. First create a Bhramstra solution & then Market yourself in a way where your impact is invincible and I am sure one day you will become so powerful that whatever situation is there you will survive. This reminds me of a very famous quote of 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 Marketing is to make selling superfluous. 

Marketing is a game of Perception. Never let marketing become more important than your product. If a product is not good, marketing and good marketing will just accelerate the death of your company because people will eventually find out that this is not the best product. Also think of Building a strong brand of yourself by giving impacting solutions, don’t be the no.1 be the only one.

The next question arises: Is Marketing going to be obsolete? Technology is replacing actually everything. We are already seeing AI and robots replacing everything, so is it going to replace someday marketing also…? What do you think…? I believe no, a big No. Robots can’t make connections like a human does with the other human. Marketing as I already told you is about perception and perception can’t be made by machines, hence, we should invest in marketing as it will never be extinct. If you know how to sell and make your own connections, you have a safe career.

Integrated Digital Marketing:

Integrated Marketing is an approach to creating a unified and seamless experience for consumers to interact with the brand/enterprise; it attempts to mix all aspects of marketing communication such as advertising, sales promotion, public relations, direct marketing, and social media, through their respective mix of tactics, methods, channels, media, and activities, so that all work together as a unified force. It is a process designed to ensure that all messaging and communications strategies are consistent across all channels and are centered on the customer.

Integrated Digital Marketing is the art and craft of using all the digital marketing methods available today in such a way that each digital marketing channel complements the other by playing it’s strengths rather than trying to reach the goal of increasing revenues and customer base on its own. Investment of time, energy and money in building an integrated digital marketing process for your business is like investing in a machinery which will definitely multiply the effectiveness of each component in it.

Some of the common digital marketing methods are:

1. Search Engine Marketing 
2. Search Engine Optimization (Organic Traffic)
3. Email Marketing
4. Social Media Marketing
5. Digital Display Marketing
6. Content Marketing

These are some ways to integrate your product or services with digital marketing and communicate it to your target audience.

Importance of Communication Skills:

People with good communication skills are known to be the voice of the company. They have the power to influence people’s minds with their words and make a connection with customers. To be a good communicator, you don't necessarily have to speak sophisticated English, just the basics will do as English is a global language but Knowing good English is not a guarantee for success but good communication sure is. Your gestures, body language, problem-solving skills are what will make you connect with your clients. As we saw one of the three pillars is “communicating value”, if you are unable to do that all your efforts will go in vain. Also reading books and writing articles can improve your communication skills.

Now after learning the basics of the language of communication and marketing, we should understand the market and economies and how it could impact...!

Basics of Global Economies: 

A country’s economy goes up as the average age goes up as the average age of a country goes up. It is always better to go for a developing company than a developed company. Average age of India is 27 and the average age will go up very slowly. Hence young people will definitely consume more than old age so it is always good to go for a young developing country. Debt creates more money in the economy because debt creates more cash in the economy leading to inflation. And when people start repaying the debt the cash flow decreases, therefore, governments decrease the interest rates to encourage people to take more loans to again increase cash in the economy. We saw many companies collapse during this pandemic so in the times of recession, only the companies having strong fundamentals and good knowledge of the economy will survive.

Digital vs Traditional Marketing:

Traditional marketing even today has more reach than digital marketing. FMCG, Pharmaceutical companies, etc still find TV as the best medium to advertise because the reach for rural India is still TV. Even though the concept of Digital Marketing has been around for quite some time now, the penetration rate is very low in rural areas as compared to radio, TV, and newspaper. Only a certain set of products and target audiences can be reached using Digital Marketing. It has its own advantages over traditional marketing.

In digital marketing, we can choose the person whom we want to show our Ads, do personalization, etc. When it comes to digital marketing people have a notion that only doing paid Ads I’ll be able to sell or only doing SEO is enough. Digital Marketing has to be holistic for you to convert your leads. Each piece is like a piece of the bigger puzzle and by joining one end to the other can you complete the entire picture. Don't forget to interlink your Digital Marketing channels as shown only then will you be able to convert your leads and create long term customers.

 Direct Response Marketing:

We all have seen ad’s but did we ever think whether that ad is relevant to us or not. Do we really want to see that ad and say even if by chance you went through it, how does it really mean to you? How many times we have to just sustain irrelevant ad’s because we can’t eventually skip, I know so irritating…! Many companies do run such big marketing campaigns without having specific measurable results. So what to do for this? How to be more specific keeping the tastes of your audience in mind. Well we can use a direct response marketing technique where we can get direct response over the campaign. For example if I ask you to download a book related to law of marketing, and ask your details to be filled before buying it, I am actually with your permission asking and containing the details so eventually whenever I have to run a future campaign regarding in this context it would be because of your interest that I would share, hence you will see because of your interest and not mine.

What is a Niche & what Factors you should consider while selecting a Niche?

A niche is a specific product/audience category you want to target. It could be anything whatever you like or whatever suits you like for a digital marketer it could be Affiliate marketing, Marketing automation, Blogging, review postings etc. Could be an option Niche selection is extremely important because it helps you to differentiate yourself from others and mark out a target market for yourself. Your talent and your inner introspection of what is important and what drags your attention most could be one way to select your niche. Therefore your talent clubbed with your passion and a suitable market can be added to make your niche. So choose a niche where the market has high search volume but low competition aligning to your interests and passion.

CATT Funnel and why it is Important?

The Formula: Wealth= n^CATT

1. [n]= Niche: The market or product you choose to work in and generate wealth.

2. [C]= Content: Create content to attract audiences from your niche by creating blogs, videos, live webinars, etc.

3. [A]= Attention: Bring that attention towards the content that you created using SEO, Social media, Paid Ads.

4. [T]= Trust: Create trust through, Marketing automation, Specific targeted campaigns etc.

5. [T]= Transaction: Finally convert your leads into customers using sales techniques and others acquiring methods.

Personal Brand:

But apart from all the knowledge, you gain and the frameworks that you put in place the biggest Asset that you have is your own self. Your trust retention by mass i.e. your target audience. Without trust nothing can move ahead whether it is a personal or professional relation. Nothing can replace you & the trust that you create for others. People do invest in your product but moreover they invest in you as an individual. No product is better than you. You as a brand can do wonders. When somebody buys from you he or she actually is also investing in you, your promises, your value propositions positioned. So your own individuality is the thing which can create wonders. Remember nothing Replaces ,you are your own brand.

These are some basic understandings and tricks to use in your daily life marketing. At the end I would say fancy things do look good but without a strong foundation everything collapses, for further understanding you can definitely google and read some other articles or books related to this context like Social Media ROI by Olive Blanchard or Selling the invisible by Harry Beckwith etc. & if you want more kind of these articles do mention in comment and I will share it soon for you. Thank you for all the support :)