Marketing Made Simple: What You Need to Know
Marketing is the origin of all businesses, do you think so? Do you know about it?
We all hear this word several times a day.
What comes to your mind when you hear this word - marketing?
FB Ads?
Google Ads?
YouTube Ads?
Instagram Marketing?
Twitter Marketing?
Pinterest Marketing?
Google Search Pages?
Television?
Radio?
Newspapers?
Billboards on Highways?
Hoarding in Malls?
Street Advertising Boards?
Social Media?
So many things and platforms, right! Thereâre so many things and platformsâ names that come into your mind.
Donât you think it means the promotion of products and services!
In this article, we will discuss all the aspects of marketing and its value in our daily life. How is it the origin of all businesses? What a product should be and how we can market them through the different aspects of marketing.
Weâll get to know the basics of marketing, what is marketing, why marketing, types of marketing, how to do marketing, tools of marketing, benefits of marketing, Different Marketing Strategies, and last but not least different popular platforms for marketing.
As we all work to become financially independent, weâll learn how we can be wealthy if we understand the concepts of marketing properly.
You need not worry, just stick to the article and you will get everything here.
So, every business is dependent on innovation and marketing. They are connected to each other.
Here, innovation is the new thing or product we design to make life more luxurious, easy or comfortable. Innovations donât only contain products, but also services.
So in marketing, we promote our newly designed products and services. Thatâs why I have called marketing the âorigin of all businessesâ.
Marketing is not just about creating alluring ads, it is actually based on principles of Science. Choosing a niche, understanding your target audience, creating user persona, devising marketing strategies, understanding all the segments of marketing and implementing them to get more conversions and all these decisions have to be made only after knowing about how the economy works.
We have products and services, but we are not able to reach our customers. Do you think we will be able to sustain for a long time in the market?
At this point we need marketing. Without marketing, we canât imagine any business growing. There may be several forms of marketing, but before that, we will understand-
The Fundamentals Of Marketing
As we listen to marketing, the first thing which comes to our mind is buying or selling something. Yeah, you are right. In every business, we see something is being sold, but donât forget the product should be unique and efficient.
Itâs not only buying and selling, but it also consists of science that is understanding the customerâs psychology, behaviour, and mindset towards the products.
And there is a single way to earn money that is to sell something whether it is a service or product. That is the single and only way of creating wealth.'
Most people think that they can earn money without selling something, which is totally wrong.
It is involved in every type of business, sometimes the platform tries to make us feel that we donât need to sell anything but they hide the concept of generating wealth which is buying and selling.
So, if you are a master in marketing, you are going to be wealthy soon.
Now, our next question is what we need for this?
We need two things that help us in marketing which are understanding of economics and communication skills.
But, first, we consider
These are very important for us.
If our communication skills are very good then, we can deal with any type of person, we can easily build trust and understanding even with any awkward personality. Communication matters the most in this world, if weâre not able to communicate properly, we canât share our ideas, our innovation with the world. We canât express what we want to express and convey through our words.
Better communication fills the gap between the industry and the customer. Nowadays, different communication techniques are being used which are most popular is short storytelling, graphics, banners, and gifs. These are all part of building better communication with the customers. As much better we can communicate with the user, we can easily generate leads and transactions in our business.
It helps us in growing our company, ideas, relations, and innovations. We want to run any type of business, we need money, and how we should manage the money, so for this we should have a bit of knowledge of economics.
The Understanding Of Economics
Understanding economics is very essential nowadays, if we donât know where to invest our money and how to invest, weâll not be able to sustain longer in the market. If weâre able to properly manage our money, we can do so many things in a small chunk of money. When we start a business we need so many things and have to set up so many things, for purchasing the things or resources and setting up the processes. These all take time and money. If we know how to manage our time and money with every pillar of our business, we will never run out of money, and will always prosper.
Now, comes promoting our product for making 10 croresâŠ!
The total transaction amount depends on only two things, the first is the number of sales and the second amount of sales.
Total Amount = No. of sales (customers) x price of the product.
Letâs assume we want to achieve a turnover of 10 crores in a financial year. Then we can achieve it in different ways.
First, letâs assume we keep the price of the product 500
10 Crore = 200,000(sales) x 500.
Weâve to generate more sales in this scenario. So, we increased the price of the product 10 times.
Now, see how many sales weâll need to generate to achieve the target
10 crore = 20,000(sales) x 5000.
These many sales are easy to generate and the price of the product is also not so high.
So, weâve to decide how we should price the product and the number of sales we need to generate, but before doing all this.
We need to understand who our customer is, what are their desires, problems are because the product is more than an item. Itâs a solution to the problem people are facing. We need to create a marketing persona for our customers, and then develop the product according to their needs.
Now, comes the promotion part, there are two ways for the promotions, first one is digital marketing, and the second one is traditional marketing.
Which way of promoting you will use to market your product- traditional marketing or digital marketing?
Do you know the differences between the two of them?
Letâs differentiate themâŠ
Difference between Traditional Marketing(TM) & Digital Marketing (DM)
Traditional Marketing
- TM is the oldest form of marketing. It is also called âoffline marketingâ, it doesnât use the internet.
- It is an outbound type of marketing.
- TM is scheduled for the long term.
- This type of marketing campaign is static.
- In TM communication is unidirectional, the consumer and the provider canât communicate with each other in real-time.
- The tracking of this marketing is offline.
- In offline marketing, the budget is high.
- Examples: - Paper ads, Pamphlets, etc.
Digital Marketing (DM)
- DM is also called âonline marketingâ.
- We use the internet for this and this is the newest and most popular form of marketing.
- It is an inbound type of marketing.
- DM is scheduled for the short term.
- In DM, campaigns are dynamic and can be changed any time we need.
- DM is bidirectional. Consumers and providers can communicate with each other in real-time and can share ideas.
- DM provides real-time analytics.
- The DM budget is very low in comparison to TM.
- Examples: - Social media ads like FB, Twitter, LinkedIn, etc.
Now you know that DM is far more profitable than TM.
We can get more profit and leads in no time and less cost with DM.
DM is the combination of two words, one is digital, and the second is marketing.
Marketing means promotion & digital means via digital media.
So, in one phrase it is the promotion of products or services via digital media.
In this, we generate leads and these leads are generated through marketing funnels.
Now, we are going to discuss the marketing funnel. Do you know what a marketing funnel is?
This funnel helps us convert leads into transactions, we are going to discuss
According to the CATT Marketing Funnel, the wealth generated by marketing depends on the following factors: â
Wealth = n ^ CATT
Where,
â> Niche: your success and wealth depend on the niche you choose, niche is the field of your work.
â> Content: Blog posts, videos, lead magnets, live webinars etc. As everyone says, âContent is the Kingâ. So we should focus on creating valuable and attractive content.
â>Attention: Attention is the most important thing. People do a lot of things for getting attention.
â> Trust: Focus on building trust because trust helps to convert leads into transactions.
If you master all these factors, you are going to be wealthy soon. None can stop you.
So, how do you feel after becoming wealthy? đ
But donât stop until you donât become a brand. A brand sells itself. Brands donât need advertisements. Donât you want to be a brand?
A brand can be of two types, company brand & personal brand. If people start recognizing you through your logo, tagline, and logo colours, then you can say youâve become a brand. Once you become a brand, you can price your products higher, and sell them for higher tickets.
DigiAvtar is also one of the brands, people have started identifying it with its logo, colours, and tagline in its locality. DigiAvtar is contributing to several businesses to grow, and prosper exponentially. So, whenever anyone hears its tagline âDigitalising Brands for Exponential Growthâ, people recognise it. Once you become a brand, you donât need so much of promotions, Brand name promotes itself.
But, becoming a brand is a very long process, you first have to understand your customersâ needs, and according to their needs youâve to create a buyer persona, after creating a buyer persona, youâve to create tools or products for them. Providing those tools or products isnât the end of your journey. Youâll have to modify your service or product until the product/service isnât able to fulfil the desire of every customer. Thus, a brand is built.
Why Do We Need Marketing?
Well, why do we need marketing and markets? Do you also put stress sometimes, when you start seeing so many ads, and products in front of your eyes? Well, there are some reasons behind this, globalisation, desires for comfort & luxurious lifestyle, to become unique, to earn a good living, and much more.
In ancient times, there were no markets, people were living in a particular place (limited areas), there were no mutual contacts among them, even they didnât know the people from their neighbouring village, and they didnât feel the need for the market. Donât you wonder why they didnât feel the need of the market?
Because the things they needed for living life were there in their village, every person had a particular work, their work was distributed. The son of the teacher would be a teacher, a farmer would-be farmer, the potter would be potter, and the weaver would be a weaver. So, all the things they need to live a life were present there in their own village. Theyâd created a mini-market in their own village. Every village has its own market.
And, if they need something that was out of the village, they organise fairs once or twice a year. Fairs were the mode of markets then.
But the times change, and so the people are now free to go anywhere with no time and can connect anywhere in the world in a fraction of time.
And now, it isnât obvious that the son of the teacher would be a teacher, he can be a potter, weaver, and farmer, anything he wants to be. So, the market also needs to be changed, to fill the gap between the markets and the users, we need more markets.
And to let the people become aware of the products we need marketing because the product that is being developed in one corner of the world is being used in another corner of the world. And, to make people know about that particular product we need marketing.
Thus, Globalisation has built one big market from the small markets. Marketing is the only way by which we can sustain in the market, as there are so many products from all over the world, and promise to provide better quality than the next.
Marketing is the only way to promote our products and to reach the maximum number of potential users of that particular product.
The next question that arises in our mind is how to do marketing, as itâs a very vast field, and most of the people arenât aware of the traditional and digital world scenarios, well you donât need to worry weâll tell you how to do marketing for yourself or the brand youâre working for!
To do marketing for a brand or oneself is a big task in itself. You can either hire someone for it or can do it yourself by learning this field.
First, letâs discuss how to do marketing through a company. If youâre totally new in this field then youâll be lost as the era of globalisation has come together with all the people. So, there is a large number of tools and companies already established in their domain, promising good results and showing us so many testimonials, their case studies, and projects theyâve done so far.
What to choose now, is the biggest question!
Well, first see what the companyâs motto is, and how many brands theyâve developed from scratch. How they deal with the client. They are only excited to take your project or want to first understand your business. Also, meet some of the persons whoâve previously taken their services, and talk to them personally, because testimonials donât tell the real truth.
If the people are also saying the same, as their testimonials were saying, and the brand is first focussing on understanding your business, and giving you clear and proper analytics about your business after running an inspection, and is eager to grow your brand then taking money out from your pocket. Go ahead with them, theyâre good.
If you donât want to hire someone, youâll need to learn all the tactics by yourself, and for this, youâll need to join the course. And, there are so many courses so pick the best one whoâs fulfilling the particular criteria you desire for.
Well, weâre not boasting, but weâre the best digital marketing agency situated in Gurugram, India. Weâve registered ourselves under the flag âDigiAvtar Marketing Solutionsâ. Weâre working for different kinds of brands and have worked for many brands so far.
Our tagline is âDigitalising Brands for Exponential Growthâ, so we want the companies and people who take our services to grow exponentially. The reason behind we call ourselves best is the brands weâre working with were already there, but properly established, and were not satisfied with their previous Digital Marketing Team. After joining us, they feel secure that their money isnât being wasted on unnecessary things, and they get to know what will work and what beforehand. So, theyâre getting results now and making good fortune.
If you donât want to take our services and want to do the marketing yourself. Thatâs also good, you can learn from us how to do marketing, and weâve developed a course under the name The DIY Marketing. After joining this course youâll learn how to do marketing for your own business or the brand youâre working for. Itâs totally customised, and structured step by step, so youâll not need to worry about what to perform next. Weâll teach you when you should run the ads, and how to run the ads.
Thank you for bearing with us, letâs move ahead.
Now, we see what tools we need for marketing in todayâs world.
As this is the digital world now, the world already has entered the era of globalisation. Weâve plenty of tools for the promotions. We just need a process by which we can safely enter this world of marketing. DigiAvtar will help you in understanding whatâs needed for your brand. Weâve included some tools of marketing here which will help you.
- Traditional Marketing Tools- Print Advertising
- Press Release(PR)
- Billboards
- Television, Radio, Telephone Directory
- Digital Marketing Tools- Search Engine Optimisation
- Social Media Marketing
- Mobile Marketing
- Online Partnerships
- Affiliate Marketing & Sponsorships
- Interactive Online Advertisements
- Press Release(Online Publication & Magazines)
- Promotional Marketing- FB, Google, YouTube, Pinterest, Twitter, Reddit, E-mail
- Commercial Advertising
- Customer Loyalty Programs
- Event Marketing
- Information Gathering
- Brand Reputation Management
Weâve discussed most of the basic and advanced tools that are necessary to marketing in the current world scenario.
There Are several benefits of marketing, marketing is the origin of Businesses. Without marketing, no business can prosper in the current digital world.
Weâve included some of the benefits of Marketing.
- Widens the Market
- Helps in Optimal Utilization of Resources
- Increases Creativity
- Better Understanding of Customers
- Understanding of the Buying Process
- Identifies Competitors
- Teaches the Science of Negotiation
- Build Good Relationship with Customers
- Improves Company Culture
- Strengthens Your Brand
- Define Unique Selling Positions
- Acts as a Basis for Making Decisions
- Increase ROI
- Maximum Satisfaction of Human Wants
- Raises the Standard of Living
- Employment Opportunities
- Increases the National Income
- Stabilizes the Economic Conditions
Different Marketing Strategies
There are hundreds of strategies used in marketing. These marketing strategies work on different types of businesses and brands, youâve to find out which marketing strategy works and which doesnât. Youâll be able to determine if youâre good at marketing and you have created your customer persona, and work accordingly by following the processes of marketing.
Letâs
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