Marketing is nothing but an art of persuading a target group through the sales funnel.
As a marketing professional, have you ever felt difficult to build a brand from scratch?
Most of the beginners in marketing would have faced such difficult situations.
I will give an overview of a few critical marketing fundamentals to help a beginner to kick start.
1. Concept of Marketing Process:
It is always necessary to understand basic concepts from scratch to help you ideate on your marketing journey.
- Every marketing process starts with an understanding of the target group’s needs.
- Create a product or service: You must make sure that the product you serve meets their needs and demands.
- STP Analysis: Clear segmentation, targeting, and positioning play a major role in the success of any product/service.
- Effective communication: Communicating your value proposition on the right channel is the key.
2. When and where to use traditional and digital marketing:
I will take you through a few important aspects of traditional and digital marketing to help you make a planned decision.
- Always try to go with traditional marketing medium when users are generic. Mass marketing on Tv and newspapers can help you to reach a wide audience at a reasonable cost. Few examples of generic products: Soap, medicine.etc.
- Digital marketing reaches only the intended target user and helps to reduce costs. If you can clearly define your audience based on demographics and interests. Always prefer to go with digital channels.
- Digital marketing will help you to directly interact with your users to build trust. Whereas, Direct responsive interaction is not possible on traditional medium. It is one of the important drawbacks of traditional marketing.
- Digital marketing is very much inclined to the SMART goal setting framework. Whereas, In traditional marketing measuring performance can be a complex task.
- Digital marketing creates a platform to create a community whereas traditional marketing does not provide such an opportunity.
- By means of digital marketing, the right set of the target audience can be reached at the right time. But such time-specific targeting is not possible in traditional media.
- Traditional marketing provides limited customization options. Whereas, Digital marketing has higher customization when it comes to formats and mediums.
- One of the key strengths of the digital mediums is the fact that it can be easily updated as per requirement. Unlike in traditional marketing wherein, it takes a lot of effort to tweak every minor aspect. For example, let’s imagine your print ads has the wrong percentage discount, how will you correct that if the prints are already out? On the other hand, editing on digital marketing campaigns can be done by a few clicks.
Interesting Facts on Digital Marketing:
- 80% of shoppers browse before making the purchase.
- 60% of U.S. adults use Facebook daily.
- 93% of business to business companies are actively using Linkedin.
- Mobile will be accounting for over 70% of digital ad spend by 2019.
- 90% of business to customer businesses prefer social media as the best effective content marketing tactic.
3. Integrated Digital Strategy:
There are chances that the digital marketing strategy you chose can’t drive results. Choosing a single digital channel for the desired goal may (or) may not generate an intended result.
To solve such issues it is always preferable to go with an integrated digital strategy. An integrated digital marketing strategy involves creating an interconnection between digital components like SEO, SEM, Social media, Content, email, and so on.
Such digital interconnecting will support the overall strategy by complimenting each other to drive better results. Creating a marketing flow will pave the way to generate more awareness and leads. Your target audience should be regularly nurtured about the offering and the value provided. This nurturing should be done by creating several touchpoints across various channels. Consistent nurturing will gradually turn a potential user into a customer. Thus integrated digital strategy works out well compared to concentrated digital channel marketing.
4. CATT Framework:
The CATT framework emphasizes wealth creation. The framework concept explains how content, attention, trust, and transaction factors influence the wealth creation opportunity available in the specified niche. This content factor contributes to the growth of the preceding factors. Try to create the best and relevant content that intends to attract the target audience. Usage of paid mediums to promote the relevant content will help in gaining user attention. The attention gained among the audience should be used to build trust among them by consistent nurturing. Educating the right target group on the value proposition of your product will result in transactions by them.
CATT framework is derived as Wealth= n * CATT.
- n stands for the selected niche.
- C stands for the created content.
- A stands for attention factor.
- T stands for trust and transactional factors.
CATT frameworks give you an outline of how choosing a niche will impact the wealth generation. It is very much necessary to give importance to niche selection. The niche selection should be given the highest priority compared to the rest of the factors.
5. Mass Trust Blueprint:
The blueprint explains the common cyclic process for being successful marketers and entrepreneurs. I will help you understand mass trust concepts and how it works.
- Learning is the beginning point of the mass trust growth process.
- The framework states that anything you learned has to undergo experimentation during the execution by indulging in work.
- The experience you gained from the work needs to be communicated upon mediums to showcase one’s subject matter expertise.
- once you gain trust from the desired target audience. You have to move to the next phase that is nothing but to provide consultation and help others to grow.
- After gaining expertise from the earlier phase will pave the way for mass mentoring opportunities.
- Similarly mentoring will help you build a start-up and the learning process continues.
Mass Trust Framework = Learn -> Work-> Blog -> Consult -> Mentor -> Startup -> Learn
This understanding of the most important concepts are vital ingredients to become a successful marketer. All the concepts explained above gives you a birds-eye view of the aspects to help marketers.
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