Is there more to marketing than just sales?
Do you think marketing is manipulative and salesy? Let me convince you that it is not.
What is Marketing!?
Marketing is not just about selling, but more about communication.
- Marketing is all about joining the conversation that your customers are having in their heads.
- Good marketing needs to solve just one question — “ Am I able to transfer my thoughts to you effectively?”
- In other words, marketing is all about understanding the needs and wants of the customer and catering to it with the right message, to the right person at the right time.
A major misconception about marketing is that marketing is sales. I am not going to deny that, It sure is ONE of the goals of marketing but not the main or the only one.
Here is why.
- Marketing starts way before the product/service is created.
- It starts with understanding the customer’s pain points and needs.
- You need to know what the customer’s situation is right now and what their desired result is.
- Your product/service should fill the gap between the current and desired situation.
Let’s take Uber for example. They picked on the pain point of:
- people missing out on their fun events, parties, etc. because of being late due to the time it took searching for transportation.
- For People who traveled late at night
- & for those who came for short visits(tourist or business)
They identified a problem and designed a solution for it.
A product/service developed based on customers’ needs, will sell itself, you don’t need to market it as much, because the demand for it already exists in the market.
Why a saturated market is good!
- What’s the first thing on your mind when thinking of a saturated market?
- Is it “There are already so many people in it.” “Everyone is already doing it well.” “Should I go in search of a new or undersaturated market?”
- Now keep in mind that the world is big. Globalization and the internet make us feel it’s small, but that’s not the case.
- A saturated market means there is a market that is proven. You have a lesser risk of losing your precious time making content and doing everything right, but in a market that has little or no demand and attraction.
- Setting yourself up in a market or niche that is saturated means that you are setting yourself up for success.
- Your competitor’s customers could also be your customers.
- Think about it, when you enter a book store, wanting to buy a business book, would you only buy one book and one author for the rest of your life? No right? You want all the information, features, etc. that you could have.
- It’s the same for product and service-based businesses. Your customer will most probably try your service as well as your competitors.
- All you need is a little slice of the market share, not the whole thing. We are not trying to build the next Amazon.
- Niche down and serve a more hyper-focused subset of the people in your market.
- You will stand out because you look like the expert in the category.
Marketing is all about communicating, building a brand that captures a position in your customer’s minds, communicating more, and retaining them as your customers for life.
- In the book “The 22 immutable laws of marketing” Al Ries & Jack Trout talk about “The law of Leadership” & “The Law of Category”.
- It states one of the basic issues of marketing is that most people market to convince the prospects that their product/service is better than others.
- But actually, it’s harder to change someone’s mind and convince them that you have a better product than the person who got there first.
Let’s discuss this with an example, Who was the first prime minister of India? Jawarharlal Nehru. We all know it.
If I ask you who was the 5th prime minister of India will it come to you that easily? Probably not.
But if ask you who was the first woman prime minister of India, you will know that it’s Indira Gandhi.
She is also the 5th prime minister of India. But no one’s going to remember that. She made her own place in that list of prime ministers.
This is just an example to show “the same world but different perspectives.” And that is why you need to pick a category you can be first in.
Digital Marketing vs. Traditional Marketing
- The only difference between digital and traditional marketing is the channel through which the audience experiences the marketing message.
- Its often thought that traditional marketing is old-fashioned, but that’s not the case, it still plays an important role in people’s lives.
- The impact and reach that a TV commercial or stone rolling magazine can make is still as important as it was 20 years ago.
- While on the other hand, digital marketing uses every touchpoint of your daily use of the internet, to reach you.
The CATT Marketing funnel:
Wealth = n^CATT
(n) — niche:
“A niche is a specialized segment in the market for a particular product/ service.”
Having a niche will help :
- you target the right audience, as you will know exactly who you are selling to and who you are not selling to.
- It portrays you as an expert, because of the hyperfocus on a particular section in your market.
Most of you would think niching down would reduce the number of customers you would get. But that’s not how this works.
If you are solving a valid problem that people can resonate with, will they come to you, who is solving a specific problem or someone who is solving a more general one?
For example, You have a problem with bed bugs at home — if you had an option would you call a general pesticide company or a company whose expertise lies in getting rid of bed bugs?
Obviously, the second option comes off as more appealing, because their branding and marketing will be exactly something you can relate with.
It also portrays them as an expert in dealing with bed bug issues than the first general pesticide company.
Niching down makes you stand out in the market.
You will be approaching the same market but with a different perspective.
( C ) — Content
- Create content that people want to read. Join a conversation in their head instead of starting one.
- Be consistent with your content. Don’t drop a bomb piece and go missing for a few weeks.
- You don’t need to know everything to start making content. Focus on being good enough in the beginning. You can evolve on the way.
( A )- Attention
Get attention to your content, by using SEO to rank organically, social media to spread the word.
Engage with your audience while using paid ads to boost your post and reach a wider audience.
(T) — Trust
Build trust by nurturing your relationship with your prospects.
Using email marketing, marketing automation, and retargeting to make sure they have a good experience with you.
(T) — Transaction
- Finally, at the end, when enough trust is built, go down the natural sales methods.
Integrated Digital Marketing:
- When it comes to digital marketing, you cannot focus on just one aspect of the entire ecosystem. Just doing social media marketing or email marketing is not enough.
You need to build an ecosystem where all of these:
- Email marketing
- Paid adverts
- Social media
- Selling and converting
work around content marketing.
To break it down further:
- Write blogs or articles about your niche and expertise. So that people get more familiar with you and start engaging.
- Use Seo to help rank organically in search engines.
- You can also use paid adverts to boost your content to reach more people.
- Use your social media to engage with your target audience, having conversations with them, and getting to know their pain points and needs.
- You can also use your blog to get people to subscribe and get their emails. Start nurturing them with valuable insights and content.
- Which will then ease you into selling to them and converting them into a customer.
Digital Marketing is holistic and cannot be approached in any other way.
The competence of a personal brand:(The mass trust blueprint)
- There are probably hundreds and thousands of brands out there. But only the brand that puts itself forward and markets itself well, gets recognized.
- Now, that doesn’t mean they have the best quality product/service. There will be brands that have better quality, but they are not marketing themselves enough. Because of which people don’t know of them.
- There are also brands with the worst quality product/service, but will still sell because of their marketing efforts.
- when customers think of a product, the most marketed brand comes to mind, because they have positioned themselves like that in the customer’s mind.
- “The best known will always beat the best”
- The marketing world has evolved a lot in the past few years. People no longer want to hear from brands.
- They want to hear from people, the ones behind the brand. And that is why in this day and age having a personal brand is so important.
- They want to know the story behind the brand, what made you want to do this. What was/is your journey like? How is your personality, your hobbies, favorite shows you watch? Etc.
- Once they connect with you as a person, any brand that you influence or startup will be supported by the people who adore and know you.
The growth of a Personal Brand:
Learn — Learn a new skill by understanding the concepts, remembering the facts, and practicing the procedures.
Work — Go from practice to implementing your work through jobs/ freelancing or your own projects.
Blog- Write about what you have learned and experienced through your journey of learning and working.
Consult- Start consulting other people and businesses instead of working for them. Tell them how to get the results without you actually getting it for them.
Mentoring — Mentor others who want to become like you. It will help you scale your understanding to a whole new level.
Startup — Build your own product/service, with the understanding that you have developed about the market, your audience, and the problems you want to solve.
This brings us to the end, here are some key takeaways from the article:
- Marketing is all about understanding the needs and wants of the customer and catering to it with the right message, to the right person at the right time.
- A product/service developed based on customers’ needs, will sell itself, you don’t need to market it as much, because the demand for it already exists in the market.
- Niche down and serve a more hyper-focused subset of the people in your market. You will stand out because you look like the expert in the category.
- The CATT marketing funnel: Wealth = n^CATT
- Digital Marketing is holistic and cannot be approached in any other way.
- People no longer want to hear from brands. They want to hear from people, the ones behind the brand. And that is why in this day and age having a personal brand is so important.
If you got any insight through this article, do leave a comment down below as to what it was, I would love to know!