Learn the Best Methods to Execute the Laws of Marketing

 

                               

 

 Learn the Best Methods to Execute the Laws of Marketing

To become a good or successful  Marketer or Entrepreneur,   be it digital or conventional,  one should know the basic rules of marketing.

Marketing is based on science. The owner or head of the organization should know the marketing in depth especially for the success of his or her own business or start-up, it may not be outsourced or hired completely.

Marketing is all about applying good communication skills to reach out to the target group, segment, or intended consumer digitally or conventionally.

Digital is just the medium for  Marketing, there are no separate laws for Digital Marketing.

 

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What are the  Concept and Fundamentals of marketing?

The general idea,  marketing is about selling, marketing is advertising and marketing is promotion. This idea is not wrong, we can’t deny as because these are the integral parts or components of marketing.

But it is more than that, marketing is talking about the strategies, its function starts way before the products and services get manufactured or launched.

It talks about market sizes, segmentation, target or focus group, category, sub-category, niche, presentation, price, packaging, current demand, customer’s current trend or future trend, business forecasting, product or service life cycle, brand building, brand re-positioning, competitor activities, monitoring the changing human needs like physical needs, psychological needs, social needs- locally, nationally and globally, availability status of raw materials, customer satisfaction level monitoring, market share present or future,  generation of lead, etc.

Marketing is performed within a certain environment which itself is always changing. The marketing activities have therefore to change in consonance with an environment to be continuously effective.

Philip Kotler,  a well-known author of marketing, defines it as “  a human activity directed at satisfying needs  and  wants through exchange processes.”

Thus the most fundamental concept, which must be realized as being the brain of all marketing activities is the existence of human needs.

The American  Marketing  Association defines marketing  as “  Marketing is the performance of business activities that directs the flow of goods  and  services from producer to consumer or user.”

 

I’ll discuss in this article now, few rules of marketing to establish ourselves as a successful  Marketer.

What are the rules?

Niche / Category or Subcategory selection

The role of Niche/category selection for any business is very much important nowadays.

The market is very much competitive currently. We may consider healthy competition as an opportunity to excel the talent and skill. The competition allows the new entrant or comer and  Noble concept to establish themselves in the market by putting the new marketing policies & strategies. For Niche selection, it is better to enter into a competitive market along with unique strategies rather than the market where competition is less apparent and overall market size, scope or opportunity is limited.  A new entrant may not get the no. 1 or no.2 position in the main category, they need to go for the subcategory where they may become pioneer or leader through new or unique strategies.

Someone may have the talent and passion for any product or service to produce or to provide, but if they don’t find enough market opportunity for that, then they should not opt for that.

So for the category or niche selection, it is mandatory to consider all three, i.e.  Talent for that, Passion to execute, and the opportunity or market size for that.

We should know the basics of global economics and our country’s economic status as well and of-course our target audience or customer group for niche selection.  By doing so, one can understand, where to focus, where the spending power lies and whom to communicate and what should be the policy and strategy, etc. to proceed further.

The clear conception for Digital marketing  vs. conventional marketing

There is no basic difference in the law of marketing for digital and conventional.

There is the only difference we noticed, that is the medium or platform we are using for both.

We are using the digital platform or medium, i.e.  E-mail, video, phone call, webinar, SEO, Social media, etc. for digital marketing to reach out to the targeted customer or audience.

But on the other hand, in conventional, use the known path, like  TV ads, Radio, Newspaper, banner, poster, magazine, etc.

 

Direct Response Marketing

It is a unique technique to attract or charm the on-spot response and encourage a prospective customer to take action by opting in the advertiser or sender’s offer. Unlike other marketing types, the direct response requires little time waiting to see the measurable results. Senders or advertisers are able to measure the performance or achievement from the very moment of that particular product or service is launched.

Direct response is having the main components like

• An Offer: It is a mix of factors such as the product or service itself, the cost per unit, terms, guarantee, incentive, time or quantity limit, shipping methods, current discount, and other benefits, etc.

 

• Information: A direct response advertisement or e-mail must have enough information for customer consideration and quick acceptance of the offer. The sender or advertiser provides reasons to accept the offer and highlights the value of the offer and including information about why that product or service is better than others.

 

• Response/action to call: Direct response marketing is designed in such a way that the customer has to take an instant and quick  action or response against each  call, i.e

1. Advertisement in the newspaper with a phone number to call,
2. Click / Follow the below link

• Subscribe the monthly

1. Download the free E-books or Videos etc.

 

Why personal brand building is necessary?

A personal brand is very much important in a current competitive environment. A personal brand becomes an influencer and a brand ambassador for the organization that they belong to.

A personal brand is a most widely recognized and impressive track record of an individual based on their competency, experience, expertise, and achievements within a sector, community, industry, and even marketplace.

A personal brand can’t be invested in and it can’t be sold, on the other hand, a personal brand can give rise to many brands. People trust people, they are looking for someone they can proudly recommend and advocate for him. People want to hear from people, not from any brand.

What are the rules to create personal branding?

1. Be genuine
2. Be focused

• Be a storyteller

1. Be consistent
2. Create a positive impact
3. Believe at all times.

Benefits of  Personal Branding

1. The business will become stronger
2. Visibility at the online platform will be more

• Relationships will flourish

1. Become more identifiable in person.
2. It can leverage the Brand to build partnerships.
3. Finally creates, Mass Trust.

Concept of Mass Trust BluePrint: Learn -Work — Blog writing – Consult—Mentor – Start-Up.

 

What is CATT Marketing Funnel?

(C) Content:  we know the great line “ content is anything that adds value to the reader’s life”.  It is required to create useful content that motivates or attracts others from our selected niche. Media – blog post, lead magnets, webinar, podcast, and video, etc.

(A) Attention: It is required to drive traffic ( attention) to the content by using social media, paid ads, SEO, e-mail, etc.

(T) Trust: Try to build trust with the audience with tripwires, marketing automation, and retargeting.

(T) Transaction: Conversion of the leads into customers with natural sales methods.

Andrew Davis, a film director, and writer said “ Content builds relationships. Relationships are built on trust. Trust drives revenue.”

 

   Integrated Digital Marketing Framework

There are different ways to do digital marketing :

First, it needs to create Good content for each product or service.

Then it needs to get the attention of intended customers or requires to drive traffic by using the i) E-mail Marketing, ii) Paid ads, iii) Social media marketing and iv)  Search Engine Optimization ( SEO).

So, if we do the marketing by using any single tool, then it may not work properly or there may not be a good response,  that’s why it is required the integration of all channels to get the intended response or result.

We know the great line “ Content is fire, Social media is gasoline. “

  In the end, it is clear that marketing is based on science, its success depends on the extent of implementation or execution of the laws of marketing –  proper  Niche selection, building the personal brand, proper usage of direct response tool, at least a general overview of global and own country’s economic status, communicate effectively to reach out the target group or segment and ability to generate lead and increase the conversion ratio from lead to customer.

Thanks for your patience to be with me in this article till now. Now your comment & Feedback on it is solicited.

The article was written by Ranajit Bhattacharyya, ISO Auditor & Digital Mentor ( Email: ranajitbdigital.com@gmail.com )