5 key insights to help you craft Marketing Strategy for your business
Are you agonizing over marketing for your business?
Lets understand What is marketing and Why do we need it?
Marketing is logical method. For brands it is nothing but creating customer perception. It is the art of creating effective communication to the audience. If sales does not happen then the business would not exist. The sale is not possible if people do not notice or get the information about product and services. In the crowded marketplace, marketing helps to get noticed and attract target audience. It is important to carve out the uniqueness to lead the market.
Post pandemic the market economics has changed a lot. It is more challenging to survive for an existing brand and equally difficult for startups to get noticed.
Broadly marketing has been categorized as “Offline and Online”.
Offline refers to all traditional method of i.e ATL (Above the line- print, hoarding, TV etc) & BTL( below the line). Online refers to digital medium.
Are you looking to know everything about Digital Marketing?
Here we go.
Digital is a medium or channel of marketing which helps to reach a larger audience through technology. It is more cost effective than traditional and the success of a digital marketing campaign can be measured on a daily basis.
- It enhances the visibility of the business
- It improves the online conversion rates
- It trims down the marketing budget
- Integrated digital marketing techniques helps to generate leads
- It boost up sales
- It creates brand awareness
- It perks up customer engagement
- It helps to persuade the purchasing decisions
- It is easy to track the return on investment
Digital Vs Traditional-
Let us understand what the role of digital marketing today is and how it is different from old traditional ways.
- Target prospects- It is quite easy to target the Target Group (TG) based on the demographic in social media. Simultaneously from ‘Pay-per-click’ (PPC) and Search Engine Optimisation (SEO) we can analyze the visitors’ profile.
- Cost Effectiveness- Digital is one of the most cost effective medium to drive any businesses especially for startups. While traditional marketing such as print ad, hoarding, and TV ad cost thousands of dollars, an online ad can be created at a much lesser cost and it is measurable.
- Inexpensive consumer research– It is mostly technology based and the technology used to track, monitor and interpret the consumer buying behavior.
- Engage with audience directly– Social media campaigns, post and webinar engages directly with the customers.
Paperboat, a traditional fruit based drink started their journey with the help of Instagram campaign- a low cost, high impact approach and witnessed a phenomenal growth for the brand in the market and ranked top in Ready-to-drink category.
Are you the one who is looking to start your business and achieve success within minimum budget?
Of course yes
For that we need to understand digital marketing funnel or CATT Funnel.
This is a technique or an effective communication approach to achieve our goals.
C standsfor Content– Content is the key. Quality content always drives the market and wins the race.
A stands for Attention– Content creates user attention and helps to solve user’s problem and creates T for Trust. This trust convinces users and makes T for Transaction happened.
In this CATT approach, the segment or category key “Niche” is equally important as
Wealth=n^CATT [Here n for niche and ^ denotes power]
Niche is what we offer to the customer which has an USP(unique selling point).
One of my friend is offering plant based vegan food to the customers. Vegan is a niche segment in entire F&B (Food & Beverage) category. Vegan refers to a lifestyle where people follow a vegetarian diet that excludes meat, eggs, dairy products and all other animal derived ingredients like honey, collagen or gelatin. [Check- https://www.instagram.com/tralata.food/]
Integrated Digital Marketing
This is the answer of how to do CATT with the niche. Precisely it is the framework.
Content-A useful content engages audience through blog posts, social media posts, podcasts, videos and live webinars and generates a lead.
Attention- It means driving traffic through SEO, social media, paid ad and referral
Trust-Build trust and market it trough automation and retargeting
Transaction- It is all the combining efforts converting into sales
Personal branding is the practice of creating a brand around a person rather than an entity. It is also called as self branding. It helps to become an influencer in the market as it is a method to position an expert in the industry.
To become a successful influencer in the industry the authentic content through blogging is essential. Apparently it is also a logical method which has following 5 phrases:
Learn and implement the skill while you work, gain experience and share it with others to become an inspiration for others and that’s how startup is born.
Thanks Deepak Kanakaraju. A true inspiration for us.
In a nutshell marketing as a logical method is evolving constantly day by day. The existing methods are well analysed and updated according to the consumer behaviour. At the same time the newer methods are emerged as a result of technical innovations and market research.
Marketing is more like a food than it is a medicine. It is essential to sustain in the market as it revolves around the needs of the consumers. Consumers are the king and their needs are shaped by culture, society, family, work group etc. Most importantly it helps businesses to maintain long-lasting and ever-present relationships with its audience. It is not a one-time fix; it is an ongoing strategy that helps businesses flourishes.
Here marketing helps to achieve your success milestones
- Content is the key to acquire TG
- Attract the TG with seamless experience
- Building reputation is the next step towards success
- Create a logic for sales
- Strategic thought is the last step to grow the business