There were times when there was a lot of scope in the market, as the number of consumers was very high but the competition was very low. So there was not much of a need for marketing as sales happened on its own, well, most of the time.
And then, as time passed and I believe, people started doing multi-business and consumers also started becoming suppliers and this created the competition. And as the competition kept growing over time, Marketing came into the system when people started reaching their consumers to educate them about their goods/services over others.
But what is marketing? Well, a lot of people have different definitions of their own. Let’s absorb the real Modern Law of Marketing of this Modern World.
My Name is Sanyam Jain, and I am your …. Master. In this article, you will learn about marketing, its different modules, modern concepts of success, and much more. So let’s begin with today’s masterclass of marketing.
What Is Marketing?
Allow me to use some simple words.
Reaching out to the public and creating value for your goods & services, not by forcing them to buy but by educating them about it that how it works or how it can help them in some way, which may result in a sale of your product, is called marketing.
Marketing is about sending the right message at the right time.
As the variety of products increased in the market, the value of the market increased simultaneously.
People started with traditional marketing systems like newspapers, TV ads, radio, flyers, etc. But then, technology took over and they moved to the Internet for expansion towards their targeted audience and to narrow the competition.
And this is the Modern Mode of Marketing their goods & services.
So what is the best way or strategy to market your products?
Are there any ground rules or just as simple to paste a picture of the product and boom, it is done?
Well, I call it ‘The Law Of Marketing’.
What is it exactly?
I would say, it’s still the same as traditional ways, but the components and intent have just changed, for most at least.
In this competitive world, it doesn’t matter how big your competition is, all you have to do is just create value for your customers and you will do just fine. The more value you create for your customer, the higher sales you will get.
But you need to keep educating your customer simultaneously.
How can we educate our customers to complete the marketing process?
Marketing starts before creating the product. Only sales start after the product is created. And If you did the marketing well, then your sales will happen automatically. We need to find the needs of the customer. And the product will sell itself.
However, we must also make our product so flawless, that we must not depend on marketing. Greater the product, the lesser marketing effort you need to put in. Make no mistake in serving your customer the best way possible.
Your great product leads to developing confidence in you, your confidence leads you to serve your customer in the best way, your great service leads you to acquire a happy customer.
And guess what, your happy customer is your brand ambassador. Your happy customer works for you more than you know and what paid marketing does for you. If you have served your customer well, then it will automatically bring more business to you.
Components of Marketing
People often confuse themselves. They think that marketing is advertising the product, but it is not. Advertising is just another component of marketing. Just like Social Media Posts, Emails, Face to Face meetings, Door to Door visits, Cold Calls. These are all just components of Marketing.
Marketing is creating a perception in your customer’s mind for your product. You can do it by paid advertisements or just by a face to face meeting or maybe any different way. It all depends upon the type of your product whether its generic, high end, daily use, luxury, etc. Different product requires a different component of marketing.
In-Direct and Direct Response Marketing
All the components are divided into 2 sections in-direct and direct response marketing components.
When companies advertise just to create awareness and spread the word about their product in the market without any expectation of a quick response from the customer is called In-direct response marketing.
For Example, TV Ads, Posters, Radio Ads, or any means of advertisement where the seller doesn’t leave any contact information to let the customer contact them directly.
On the other hand, when companies advertise their products along with the contact information where customers contact them directly and can enquire more about the product, this type of marketing is called Direct Response Marketing.
For Example – Google Ads, Facebook Ads, Newspaper Ads with contact information, email marketing, Etc
Going Deep into Your Niche
Before choosing any mode of marketing, first, you need to understand where you or your product stand in the market. If it is too generic, go deeper into your service.
Let me give you an example.
Before coming into the digital marketing industry, I was an Architect & Interior designer. I used to do paid advertisements via yellow pages and other sources and get leads for possible customers.
Whenever I used to meet clients for project details, I showcase them my profile on what I have done in the past as proof of work. I used to show them all the projects which included commercial spaces, Interior, exterior, residential space, bedroom, kitchen, living room, and so on.
I kept on showing my profiles like this and kept on getting clients. But with this practice, I never convinced the high ticket client. I was doing well but not great with practice because the kind of clients I was getting are of that high budget which gave me the freedom to work with my best.
Any Reason, Why? Because I was too generic with my services. I was an Architect Interior Designer in the city with thousands of others.
So I needed to find a way to beat thousands of others so that I can be the only one in the market. Well obviously I can’t do much about others, but I can change my game plan.
So instead of going too generic, I went ahead and positioned myself as the best contemporary bedroom designer and the Best kitchen designer in Italian style.
As a result, I did not get many leads initially for those specific queries but when the word spread in the market with my specification, I started getting high ticket clients. Instead of working on 5 generic Projects, I started working on 2 high ticket projects which not only generated bigger revenue for me but also gave me the satisfaction of expressing my creativity. Well, you know how any designer feels when he/she can express the design.
So the whole idea of this story is to tell you that you go narrow in your niche. Don’t be generic.
Don’t be the number 1 your market, Be the only 1. People don’t remember number 2, they only remember who is number 1. Stand out by choosing your Niche in such a way where no one else can perform better than you. Go narrow. Initially, the market will get smaller for you but once you start delivering your best, it will start getting wider for you, even better than generic, because it is when people come to you when they have a specific requirement.
How to Choose Your Niche?
Many professionals fail initially because they start generic and are unable to find their Niche.
Your Niche should just be a combination of a few factors.
- Talent – It should be around what you are talented in doing.
- Market – It should be around where there is a demand for it in the market.
- Money – It should have the potential of bringing money to the wallet.
- Passion – You must be passionate about it. Doesn’t matter how many times you have to do it, you must never get bored of it.
Now just imagine if you have either 3 of these factors in your niche but missing one.
Let’s say you have the Talent of doing it, it has market demand, it has money potential, but you are not passionate about it. What will happen?
Initially, you will like it because it is bringing money to the table but after some time you start feeling bored and frustrated. Because when you don’t like doing something, it doesn’t matter how much money it is bringing to the table, you will end up quitting it.
The same goes for other factors.
If your niche doesn’t have a demand in the market, then it doesn’t matter how passionate and talented you are and what money it can make you, it will still not work for you if no one is ready to buy it.
If you have talent in making something with market demand but it doesn’t have a price and can’t make you money, it will not survive.
And if you have all the passion of producing something which has market potential but you don’t have the talent to do it, then you won’t be able to serve your customer and end up losing again.
Let me help you in finding your niche.
There is this life-changing Japanese concept for a happy living called Ikigai. The above-mentioned factors are based on this concept only. I got to know about this concept from my Mentor.
You can click here to know more about it and within minutes you will understand the importance of implementing it into your daily lives and it will help you find your niche in the best way.
The Importance of Communication Skills in Marketing
Generally, what professionals think is that if they can speak high-level English then they can be better than many others in the job. Well if you are the English language teacher, then you are right.
But, when you are in convincing jobs, like sales, you don’t just need to be able to be best in English language or French, or any other Foreign Language. The language won’t work if your customer doesn’t understand it. The main motive is to explain the product to your customer in the best possible way. It is more about conveying your message more easily in an easier way to your customer rather than conveying it in a difficult sophisticated high-class English vocabulary.
Start With this. Always be a Good Listener.
It will give you all about your customer what he/she needs from you and also gives you an idea to start your part of communication. Try to listen to the conversation they are having in their minds more than their verbal communication.
You need to be comfortable while communicating with your customer but your most important job is to make your customer comfortable while communicating. If your customer is not comfortable then it doesn’t matter how good English or any other language you are speaking in, you will not be able to close the customer.
Traditional Vs Digital Marketing
The majority of the market is using Digital Marketing to market their product these days and it is fetching great results. Although it is just another component of marketing like many others still this has created a huge impact on the market.
But why is that?
In Traditional Marketing, we target a wide audience. But in Digital Marketing, We target the audience which may specifically be interested in our product.
For example, there is a company that produces daily use products, like toothpaste, groceries, shoe polish, etc. Now, these are the kind of general products which the whole world uses on a regular basis. So to sell these products, companies use traditional marketing methods like TV ads, Radio, Newspapers, Roadside banners because these are the kind of products which are used in every household, and with this medium, you will have wider reach throughout the country.
On the other hand, if you want to sell products like premium products like cars, home decors, designing services, or any other business services, companies prefer digital marketing.
Why? Let’s say if you want to buy a new mobile phone or Car, you will search on google and google will show the likewise results to you. It will now show you the ads of grocery, vegetable, or furniture to you. These services are not generic and may be used once in a while so it catches the audience who is already in need and searching for these kinds of services on the internet.
So if you are selling accounting services that are used by businesses and not by students or housewives then you may not want to waste your money in showing your ads to the non-interested audience and would only like to attract your possible client who requires your services.
This is where Digital marketing plays a big role it separates it from Traditional Marketing. But be very clear, it is not just the medium which matters, it is the content which matters the most.
Implementing the Success Formula of CATT in Digital Marketing
Now that you learned a bit about Digital Marketing, let’s discuss how it works to get the clients.
Well, just because you have posted a paid advertisement for your product, that doesn’t mean that people searching for likewise searches should only choose you over others.
You need to give them the reason they should choose you. Like I said above, Marketing is creating value. People will not trust your services or buy from you until you have already started creating value for them.
So, how will you attract them? You do it with the Success formula that I learned from my mentor Deepak Kanakaraju. He calls it ‘CATT’.
C – First, you create valuable CONTENT around your niche for your audience to help them.
A – Your content will draw the ATTENTION of your audience towards you.
T – Once your audience is there, you build TRUST with them for what you do.
T – And is first 3 steps are followed correctly then the customer will not hesitate in making the TRANSACTION
This is the Sales funnel of Marketing. Make no mistake in following every step in order as each step is linked to another. You can not get the money from your client until you make your client trust you. And how will your client trust if you do not provide some content which shows your value to them.
Integrated Digital Marketing System
If you are clear about the CATT formula, it’s time we get to know about the integrated digital marketing system.
People publish paid ads, publish value-creating articles on blogs, send emails for business updates, hire SEO service providers to rank web pages, and many other things to attract the right buyer.
Whenever someone visits any of your blog posts or social media posts or receives your emails or sees your sponsored ads on Google, for that person, you are just as new as many others because this is the first interaction that you are having with that customer. But you won’t be able to track the same customer if he/she has visited you somewhere else or not if you do not have the integrated marketing system.
In the integrated system, you interlink every platform to another platform to drive your customers level by level. Every tool must be working simultaneously in such a way that you won’t need to waste your time in sending the same updates manually to every customer. It should work in such a way that every new collected lead should automatically be served with the content and you just need to get notified about it.
When every tool complements other tools, it shortens the time of delivery. This showcases the value of the service provider, which ultimately leads to the transaction part.
The Importance of Personal Branding in Business
People generally think that the brand value of the company is the only factor that matters in getting clients. Well, it matters to some extent.
But what is most important to grow in business. I would say, it’s your Personal Brand which matters the most.
Your client may trust in your company brand but what everyone considers the most is who is going to work on their project. It is more about the value of the associate than the company.
Imagine you are a client and you are consistently doing business with some company. There is a 100% possibility that you are in contact with one particular person in that company who is handling your work with the team. After being in contact for some time and getting the expected good results, you seem to start building trust in that person who is handling your work.
Just in case, after a few projects and getting fine results that person decides to move on and shift his job to another company. You are more likely to get in touch with that person to keep handling your work.
You know why? Because you trust the person who has driven results for you more than the company whom that person worlds for. That’s the value of personal branding. People trust the person and not the company.
Companies may rise and fall in the market in different conditions, but a personal brand that has created trust in people will never go unheard. If you don’t know the best in the market, then the best known to you will beat the best in the market.
Companies hire celebrities to advertise. The company’s worth is much higher than the celebrity but it still hires a celebrity because of his fan following and personal branding. Personal Brand is a bigger influencer than the company and this results in a Mass Trust
Evolution of the Personal Brand
It is not an overnight journey. People take years to develop as a brand in the market. Some may even take decades.
It all starts with one step. And every step taken leads to the next step. Here is a 6 step success ladder to grow as a personal brand.
Learn – Start with learning a skill that is demanding in the market.
Work – You need to work under a leader where you can implement what you learned.
Blog – Write about it, help others with your story and skills so that people can learn from you.
Consult – Start consultation with other businesses that can use your skillset.
Mentor – Mentor the new generation about the market or lifestyle skills. Start acting like a Personal brand.
Startup – Start-up with your own business in what you do best in the industry.
And Congratulations. You are a Personal Brand now.
So with this, we have come to an end of it. I hope that you find this piece of work useful and I assure you that if you follow the steps and concepts in your life, you will surely see yourself climbing the ladder of success sooner than expected.
I will keep bringing more value to you in the future and I really wish you all the best for your career.
Till then, Keep Learning.