“Do what you do so well that they will want to see it again and bring their friends.” — Walt Disney, Co-Founder of The Walt Disney Company
The Above saying is so true,isn’t it?
As 2020 begins, it’s time to reclaim that marketing as a key driver of business.
“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” — Maya Angelou, Civil Rights Activist & Poet.
Now lets see the how the market goes.
Fundamentals of Human Psychology
It’s safe to assume that in order for a marketer to successfully do their job, they first need to understand who the customer is, what they want, and what drives them to make a purchase.
If it sounds a little like psychology, that’s because these strategies are based on psychological theories, and are commonly referred to as marketing psychology.
Before the launching of any product what marketers do is that they do several psychologically based observations on human behaviours to communicate effectively with customers.
Which will further increase the potential customers and conversations on a daily basis.
Marketing is a game of perception ,and perceptions can be created only by humans,Right!!
5 commonly used marketing psychology principles
- Reciprocity Principle. This principle is based on the idea that if a brand does something good for you, you are more likely to return the favor, and have increased cooperation in the future.
- Information-Gap Theory. This theory suggests that when someone has a gap in their knowledge in a topic that interests them, they will take action to find out what they want to know.
- The Scarcity Theory. This idea suggests that humans place more value on the things that they believe to be rare, and place a lower value on what can easily be accessed.
- Social Proof Theory. This theory relates to the fact that humans trust products more when they know others who can validate their value.
- Loss Aversion Marketing. This theory points out that most people would prefer to avoid losses compared to acquiring gains.
Fundamentals Of Marketing
Management guru Peter Drucker once said, “Because its purpose is to create a customer, the business enterprise has two — and only these two — basic functions: marketing and innovation.”
Marketing is basically a science and not a creativity.
Marketing is the right message to the right person at the right time keeping an idea about the product through your communication .
What if you launched a great business and no one knew about it?
What if you had the finest product line or the tastiest menu items ,and no one bought them?
Establishing an amazing business is merely the first step.But,to interest customers enough to attract them to your products and services is the real art .
Marketing is a game of perception ,and perceptions can be created only by humans,Right!!
A great product sells itself .What do you think?
For eg .BMW,NIKE,PUMA,MERCEDEZ .Here ,Trust is always there, word of mouth is there .
The Product Is rooted in reality.
THE AIDA MODEL
The AIDA is a model used in marketing that describes the steps a customer goes through in the process of purchasing a product.
The AIDA model has been in use since the late 19th century. It has been reviewed and modified multiple times over the years, both in marketing and public relations.
What is the AIDA Approach?
- Awareness: Creating brand awareness or affiliation with your product or service.
Example: A window designed in a striking way, a sensational YouTube clip, or a themed newsletter, or a graphic on a landing page.
2. Interest: Generating an interest in the benefits of your product or service, and adds sufficient interest to encourage the buyer to start to research further.
Example: Detailed information on the product is presented, for example, the product description on a website, a product brochure or flyers, photos, or video clip of the product.
3.Desire: It is the desire for your product or service through an ‘emotional connection’, showing your brand personality. Move the consumer from ‘liking’ it to ‘wanting it’.
Example: In the online shop, a bullet point list can generate the desire to buy. This desire to buy can also be awakened by an advertising medium that specifically addresses the emotions of the customer.
4. Action: It is the Move that buyer had took to interact with your company and taking the next step i.e. downloading a brochure, making the phone call, joining your newsletter, or engaging in live chat, etc.
Example: In the case of online shops, this would ultimately be the shopping cart process, in which a customer is led to a conversion. The customer can be encouraged to buy the product with a call-to-action.
Traditional Vs Digital Marketing
Let’s understand the difference and use its strengths and execute that is recommended for your niche idea!
Traditional marketing is the marketing methods that can be used without the internet.
These are the methods that have been around for decades and are typically used less often now. However, they’re not without their strengths.
Common traditional market methods include: Directly mailed postcards, coupons, and informational packets Television or radio commercials Newspaper,postcards,fliers etc.
If the offering is for the masses, let’s take an example of Amul Butter,Bournvita, Tata Salt ,Surf Excel,Gadi Detergent powders or a Parachute Hair Oil, it primarily markets via traditional marketing due to their wider and effective reach.
“One of the best ways to sabotage your content is to not tie it to your goals. Know why you’re creating content.” — Ellen Gomes Sr. Content Marketing Manager, Glint Inc.
In the same token, digital marketing is just as important as traditional if not even more so.
Digital marketing uses every touch point of our daily use of the internet to reach you.
For eg:If you are google searching holiday ideas for your next weekend getaway, the chances are that soon after you will see a tailored sponsored ad from Yatra or some Make My Trip sites.
Also ,If the offering is for the niche and not for the masses then advertising on a Digital platform would be a viable and effective option.
Examples for this if you are a Digital Marketer, Digital Mentor, A Baker, A Cooking expert, A Blogger, and so on marketing on Digital platforms such as Facebook, Linkedin, email marketing are the right medium.
The CATT Marketing Funnel and Framework
The secret to further boost and market our niche, apply the CATT Marketing Funnel to create wealth.
Wealth =n ^ CATT
Where ^ denotes power. Where your niche (n) will be successful and powerful with the CATT you will apply.
[n] — stands for Niche. The unique no.1 offering you have for your audience.
[C] — stands for Content, you attracts people from your niche. Create useful content, blogs, emails, videos, podcasts, webinars, posts, and much more to generate leads.
[A] — stands for Attention, Drives traffic or attention to your content. Also through social media ,paid ads and referrals etc.
[T] — stands for Trust. Personalize your communication in emails,via marketing and retargeting.
[T] — stands for Transaction. Convert leads into customers.
Integrated Digital Marketing
Integrated Digital Marketing is the combination of all the digital marketing methods.
Investment of time, energy, and money all are used to build up an integrated digital marketing process for your business.
This diagram explains everything that how content marketing, paid marketing SEO, social media marketing, email marketing, sell, all are connected to one another.
If you don’t intelligently use all of these smartly then as a closed integrated ecosystem there will always be a missed opportunity lying just in front of you.
The Power Of Personal Branding
For personal branding you have to keep one thing in mind .
“The Best known always beat the best.”
“Products are made in the factory, but brands are created in the mind.” — Walter Landor, Founder, Landor
The Famous People have their own charm,affection and love from the people.They builds their trust already by doing the irgood deeds and motivational talks to the people through their seminars and workshops.We can easily understand the power of the personal branding with the help of an
Example:Today everyone knows about the famous Motivational Guru and Health Coach “Sneha Desai”.He is just like a brand.So called for his famous motivational seminars and webinars ,like Mind Power workshops ,Krishna Katha, Yoga,he has an immense fan following all over india as well as around the world.
Sneh Desai is now promoting “Kangen Water Ionizers” as now into the health industry for a product which is of “Enagic company”,Japan .He is just like a brand. There is no need for an introduction for Sneh Desai ,People already trust him. That’s why “Enagic-Kangen Water Ionizer” doesn’t spend money on the advertisement because they have their own personal brand Ambassador in India .
I can say that a personal brand becomes an influencer .Similarly, there are many examples like Elon Musk,Tesla,Spacex, Digital Deepak.
Marketing is an integral part of any product.It is very important for your business and for your life .
Be it the job interview, monthly report statements to the boss, or pitching an idea to family or any other people for every now and then.Marketing is a procedure ,the one who follows it with using all the toolset effectively can run into this race of market .
Learn new skills through understanding the concepts, remembering the facts, and practicing the procedures.
Work with your new skills, put them to implementation. Real-world implementation will help you to understand in a better way. Find some work like freelancing,blogging,Voice over,affilliate marketing etc.
Blogging can help you because writing down whatever you learned gives you a stronger hold on the concepts and also help you build your Personal Brand.
Learn.Do.Teach.These is the basically each one has to do.Teaching and mentoring are something you can learned which provides a lot of scopes for your brain to grow because teaching someone else is itself a creative field.
Start up your own product or brand which will inculcate to reach to your goal and interest, And if you reached till here, believe me, you are really capable of taking actions and steps for your evolution. And you can make it.
Thank you so much for staying with me till the end.
Finally, I thank Digital Deepak Deepak Kanakaraju for his amazing internship program which really helped me to write this much as I am very much influenced by content writing and blogging, I can’t believe now I can write an article.