How and Why Marketing is the most important factor?
Do you wonder why companies focus on marketing their product so much?
Why they spend a huge amount of money in marketing?
Why they hire professionals to help their product reach the ultimate customer?
If you want to know about how and why marketing is so important then this blog is for you:-
What do you understand by the term marketing?
A creative strategy with the help of which a product is ultimately sold to the end customers?
No, Marketing does not mean the process of selling a product. Marketing starts before the product.
It starts with knowing and understanding the customer and customers’ needs, which then leads to product that fits.
If the product is not of a good quality or if the product is not worth the price then it very tough to sell the product as no customer wishes to waste their money on nothing.
You should be well aware about the customer and his needs.
So it is very important that the customer is well satisfied with the product.
And not just till selling the product marketing is also about keeping the existing customers happy after sales too, by communicating at regular intervals and after sale services.
This helps the customer to buy more products from you in the future.
This helps build trust within the customer that yes this product durable and also has great customer services.
Trust building is very important for customers relationship with the company, if the customer trusts your product and services then he is more likely get influenced by your marketing strategies.
Many a times what happens is that companies give so much importance to marketing of the product that they forget to focus on the quality of its product.
Your main focus should always be the quality of the product.
What if you spend thousands of rupees for marketing but the quality of your product is not up to the mark then obviously no customer in right mind will buy it.
Customer will prefer your competitors’ product over your.
To cut competition you need to specialize in one category that others don’t think of.
For example, Google has dominated the search engine market. It has 82.86% of market share.
But it would be very difficult for a new search engine to compete with Google.
So Swiggy enters in the search engine market but with its own specific niche i.e.; Restaurants. Swiggy lets you search about anything related to restaurants.
That is how it created its business and its own product specific customers.
And when you go narrower into the funnel you get your own product specific customers, which will lead you to expand in wider horizons. (In this case; vegetarian restaurants, Italian Restaurants etc.)
Technology is improving day by day.
Many jobs which were then done by humans are now done by machines.
Food and clothing are just one tap away for consumption.
You can book train, movie, and plane tickets online from your smartphone.
But marketing is more about perception.
It is about communication.
It is about understanding market and economics.
We will always need humans to get things done with the help of man and machine both.
Machine can never rule over humans in marketing because humans have senses to understand, interpret, analyze, and work according to the given situation.
As world is changing so fast in technical terms and going digital.
Yes, Digital Marketing is the future in the marketing world.
But that doesn’t mean that traditional marketing will be abolished from its roots.
Traditional Marketing is the marketing method that can be done without the internet. For Example Magazines, Billboards, Television, etc.
Digital Marketing comes in the light when marketing is done with the help of internet. For example content marketing, Social Media Marketing, Search Engine Optimization (SEO), etc.
If a product is more generic the traditional marketing is the best and sometimes the only way out.
You can use television, radio, and newspaper for wider reach, as most of the Indian population consumes at least one of these mode of communication or all of them.
And if the target customers are mostly educated then Digital Marketing would be more preferable.
The disadvantage with traditional marketing is you cannot personalize the communication.
You cannot do deep marketing you cannot do natural sales.
So it is very important to understand your customers and pick the marketing strategy accordingly.
You might be thinking by now that why I am talking so much about marketing when there is so much cut throat competition where companies are not even able to cover their cost.
The only way to cut competition is selecting a niche.
Select a niche of your interest. Being number one in a category is very important.
If you try to be everything to everyone then you will be nobody to everyone
The integrated Digital Marketing framework acts as an engine that drives the CATT funnel. Have a look at the flowchart below:
Integrated Digital Marketing is like a team work where Content Marketing is the leader and the other are members.
You can drive your customers to you content via email, social media, SEO, paid ads and vise-versa.
Ultimately what happens is that when you get your interest in your product then you can convert him into sale with the help of Content Marketing and Email Marketing.
This process of integrated Digital Marketing might seem confusing but once when you get to understand it, then it can give you huge returns.
As I mentioned earlier how trust is so important for sales.
Trust also helps build a Brand. When people trust a person, the person becomes a brand himself. And personal branding is important for Digital Marketing.
For example Ashok Soota, the founder of HappiestMinds, he is such a big brand that his company was over-subscribed 71x. This happened because people trusted him. That’s MassTrust.
The above picture shows the evolution of branding.
First you learn a new skill, understand its concepts, facts, and procedures. You work on it and get better practical knowledge about it.
People will read your blog posts, get interested in it. Will want you to consult them.
Mentor them. And then you start your own company in your niche.
The above given concept of marketing deals with why marketing is important.
Marketing was, is and will exist forever.
Digital Marketing is the future.
People are going to make a shift from Traditional Marketing to Digital Marketing as digital marketing is more cost effective.
If you want to learn more about the Digital Marketing Field then visit https://onlinemoneyidea.com/ and https://haildigi.com/content-marketing-to-create-brand-awareness/