Become a successful Entrepreneur with Marketing Fundamentals

What is marketing all about?

Marketing is all about meeting and exceeding the needs and wants of potential buyers and then provides goods and services that meet buyers’ expectations.

Marketing is about creating an exchange. Exchanging something valuable to satisfy and meet each other’s needs or wishes. In a typical exchange, a consumer exchanges money for a good or service.

The 4 Ps of Marking Are Product, Price, Place, and Promotion

Marketing is the process of selling the right product to the right people at the right price, at the right time using the right adverting techniques and allowing the right people to promote those products or services.

Here, the product is created after market research. First, you try to identify the needs and wants of the customers.

Why is it important to understanding customer needs?

1) Knowing customers’ needs is important to customer satisfaction and loyalty. If you fail to meet their expectation they will do business somewhere else.

2) By identifying customer needs, representatives can sell related products or services.

3) Customers have fewer reasons to argue with your company. A purchase becomes better, more user-friendly, or more versatile and financially beneficial for the company.

4) Customer feedback helps you find out their likes, wants, and dislikes.

5) Building good relationships with customers to get lifetime value, greater share.

Key Points to Remember:

· To ensure customer satisfaction, you need to correctly identify customer needs.

· To identify needs, you need to listen and ask the right questions

· After identifying the needs, it’s good to identify or check for additional or related requirements.

· Use knowledge and experience to identify and provide the right products, services, and solutions that meet your customers’ needs

Advertising as a part of marketing

Advertising is a component of marketing. Advertising is a specific step of marketing.

Advertising is a paid element of marketing.

The biggest benefit of advertising over other types of marketing is the ability to reach your prime audience more precisely. For example:

If you want to reach a local audience, print ads or advertorials can be placed in local newspapers or magazines.

For example: if you want to reach people who buy restaurant supplies and products, Place your ad on Food and beverage magazines.

Some forms of advertising are:

• Print advertisements in newspapers and magazines.

• Print “advertorials” that look like articles but are actually the advertiser’s paid ads.

• Online digital ads that appear on websites such as related product websites, news sites, or social media websites such as Facebook.

• Outdoor advertising on billboards or other traffic signs or on buildings or tents.

• Radio advertising on radio and television.

Know-How Digital Marketing is better than traditional marketing

Before we decide which is better or suitable for the marketing and promotion of your business.

Let us know first,

What is traditional marketing?

Traditional ways of marketing include newspapers, television, radio, brochures, and flyers and billboards by the roads and highways.

Some of the benefits of Traditional Marketing are:

· You can easily reach your local audience. For example, a radio station can be played in one location: your city or region.

· Mailbox flyers go to homes in a certain area

· You can reach a large population, using traditional mass media such as billboards, television, and radio.

· There are customers who doesn’t have access to the internet or are just not that tech-savvy.

What is Digital Marketing?

Marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium. Some of the Digital Methods are SEO, Social Media Marketing, Email Marketing, Paid Advertising, Content Marketing.

Now that we know what traditional and digital marketing is, let us find out what traditional marketing vs. digital marketing says.

Benefits of Digital Marketing over traditional marketing

In digital marketing, you can target local audiences, but also international ones. In Traditional Marketing, you can target a local audience.

Digital Marketing is cost-effective where Traditional Marketing is costly.

In digital marketing, you can see the number of visitors to your site and their subscribers’ increases, peak trading times, conversion rates, and much more at a single click. With traditional marketing, you have to wait a week, sometimes even months before the launch begins.

With DM you can change/edit your ads anything anywhere. In Traditional Marketing, you cannot change/edit your ads anytime and anywhere.

Now we understand both the marketing well, we can agree that online marketing wins. However, traditional marketing is still popular amongst traditional audiences. So, a smart blend of Traditional and Digital Marketing is a good way to reach your audience.

How to build CATT funnel that doubles or triples your profits

CATT stands for Content, Attention, Trust and Transaction

The CATT funnel is a system that introduces new leads into your business through different types of content. These leads are then converted into potential customers.

A marketing funnel is distributed across all channels of digital communication. People get to know your brand first, then interact with your brand, subscribe to hear from you, trust you, and then buy from you.

It can be better explained as,

Wealth = n^CATT

1) Niche: Choosing niches is one of the most important steps in building a successful online business. It defines your wealth and success.

2) Content: The content you create communicates your message, trains your readers, and convinces them to buy your products and services over your competition. In fact, providing quality content is one of the most important things you can do to generate customers and interest in your business.

3) Attention: Attract clients and customers for your content through various digital channels like SEO, social media, etc.

4) Trust: It’s important to build trust with your audience. Keep going, share stories, articles, and emails.

5) Transaction: Once trust is built, you can convert your leads into customers.

For Example: A visitor lands on your website from a Google search or a social link. He is now a prospect. The visitor can go through some of your blog posts or browse your product lists. At some point, you offer them the option to sign up for your email list.

When the visitor fills out your form, he or she becomes a lead. You can now market to the customer outside of your website e.g. by email, phone or text — or all three.

Leads usually return to your website when you contact them with special offers, information about new blog posts, or other interesting news. Maybe you offer a coupon code.

The sales funnel narrows as visitors walk through it. This is because you have more prospects at the top of the funnel than you have your leads at the bottom.

Creating and optimizing CATT funnel takes time. But it’s the only way to survive in a competitive marketplace.

Know What is Integrated Digital Marketing is all about

Integrated digital marketing is, as it sounds, the combination of multiple marketing strategies to form an Interconnected online approach to your business.

It’s like using a single language to speak in different situations. This strategy brings together all of your marketing tactics. If you are consistent, you can become memorable to your audience

The following is usually required:

• Web development and design

• Search engine optimization (SEO) and search engine marketing (SEM)

• Content Marketing

• Social Media Marketing

• local listing management

• paid advertising campaigns (or pay-per-click advertising campaigns)

The idea behind Integrated Digital Marketing that any strategy alone doesn’t have much impact. However, combining all marketing strategies brings more value.

What are the benefits of integrating your Digital Marketing?

Brand Awareness: Your company is available on the Internet to start a conversation with your customers. Your business can be found on the social media they use, their email address, and Google when they search for something.

ROI: Creating a consistent marketing plan is key to a higher, faster ROI. It gives great results, increases sales, and rapid growth. This is because it’s easy for leads to get involved when you tell a clear, consistent story.

Conversions: You can improve your conversion rates with an integrated plan. You will speak to your potential person in a unique language and give them a great experience anywhere.

Brand loyalty: A great way to generate loyalty is to position your brand consistently on the mind of the customer.

It is extremely important and must to Integrated digital marketing plan, If you do not have an Integrated Digital Marketing Plan, You do not have an edge. Brands that do not engage with their customers are more likely to die soon and the ones that do will win awareness and customer loyalty.

Businesses are increasingly accepting marketing strategy called Integrated Digital Marketing.

Why personal branding is important for entrepreneurs?

People look for someone they can proudly recommend for.

If your personal branding is strong, you will have strangers telling everyone that you are the best of the best.

Personal branding isn’t about a lot of people knowing you

People should respect you and look up to you.

People will only respect you if you add value to them. The easiest way to create value for other people in your industry is to create content that is useful to them.

A person who has a strong Personal Brand with credibility and influence has a massive advantage over someone whose brand is not known, especially when it comes to landing a new job or winning a new client over the competition.

Creating a Personal Brand and building the right strategy so that people would get to know about you and the value you bring. So, that instead of chasing that dream job, go ahead and attract instead.

How to become a personal brand?

Learn: The skills should be learned through concepts, facts, and procedures. understand the concepts, remember the facts, and implement the procedures.

Work: Implement your learnings into work. Implementing real-time applications gives you a better understanding. Your work may be of job or freelancing.

Blog: Writing gives you the next level of understanding. You should write and post it to the public whatever you learn. Blogging has certain importance and that helps you understand better and it will also teach your readers. Writing has a good perspective compared to videos and images.

Consult: Having a personal brand with blogging and work experience, now you can consult for other companies, instead of working for them. Help companies to market their products with your ideas.

Mentor: Mentor others who want to become like you. Become a mentor on your own niche. Mentoring will eventually scale up your understanding to a whole new level.

Startup: Now it is time for you to start creating your product and services with the full level of experience in the market and industry.

Conclusion: If you want to build a great, lasting business, it’s important to put yourself in a customer’s shoes to understand what they want. Following the right marketing strategy will help you in the long run business.

Do not restrict yourself to learning and exploring market strategy. success is not about luck. It is about effort. The harder you work, the more successful you will be. Work hard, achieve your dreams, and let others assume you are lucky.