In this article I am going to talk about how marketing can keep you out of trouble. We will talk about 6 major concepts as mentioned below;
- The Fundamentals of Marketing
- Digital Marketing Vs. Traditional Marketing
- CATT Marketing Funnel
- Integrated Digital Marketing
- Personal Branding: Mass Trust Blueprint
- Niche Selection
This article will be useful for all the Marketing & Sales professionals, Real estate professionals, Digital marketer, Freelancers, Entrepreneurs and Business owners etc.
Before dive into the marketing concepts let’s understand what is Digital Marketing?
Digital Marketing is all about marketing your product and services through internet. It is used for the promotion of business using different digital channels such as social media, email, search engines and websites are utilized to interact with current and prospective customers.
Digital marketing is booming and growing in India day by day. Digital marketing is growing by 20-25 % year on year. By 2021 we can expect 2 million plus job opportunities in digital marketing in India.
Why Digital Marketing is Important?
Digital is the best medium to reach audience
|Traditional Marketing||Digital Marketing|
|Reach limited to area||Reach global|
|Target not specified||Target specified|
|Price is very expensive||Price is not expensive|
|Results are not guaranteed||Results guaranteed|
|Cannot be personalized||Can be personalized|
Though Digital Marketing is growing rapidly we cannot overlook or sideline our old traditional ways of doing marketing. When the product is more generic with wide range of target audience (e.g. Gillette Guard Shaving Blades) we can reach millions of audience through Television.
- Television Reach – 197 million family (Wikipedia)
- Radio Reach – 65 % Reach (Source Financial Express)
- Newspaper Reach – 465 million (Source Business Standard)
Traditional Marketing is best when you are selling low rate consumer end product!
Now we will talk about Fundamentals of Marketing:
Marketing subject is never going to be obsolete. When you understand marketing basics you can do wonders in any industry you work. The basics of marketing are always going to be same.
Many a time’s marketing is done after creating product / service which is not correct. It is always recommended to do marketing before creation of your product / service. In simple words marketing starts with understanding the customers’ requirements that the product is best fit or suitable for all the customers.
Marketing is all about developing a product / service based on customer’s wants and needs and where you do not bother about its sale. As once you created the product as per the customer’s requirement it will get sell of itself and you do not have to worry and do a heavy marketing budget to sell your product. Marketing is about sending right message to the right person at the right time.
Ex: Eric Yuan has created Zoom conferencing app understanding the requirement. Zoom is today worlds no 1 digital conferencing application. He has created the right product for the right people at right time.
Always remember if you want to win the hearts of your customers and make them your clients for life time you need to keep doing marketing before creating the product, while selling the product and after selling your product / service to the customer. In marketing your goal shall be always to build or win trust with your audience. Marketing also helps to create your brand and thereby creating a space in the minds of your customer. And once you build the trust the word of mouth becomes your biggest marketing asset & in this case your product will get sell off without doing marketing efforts.
Ex: Hiranandani Developers from Mumbai offers such a great quality homes that they do not require to put in lot of efforts on marketing. 50 – 60 % of their inventories get sell of itself by their internal references and existing customers only.
Every marketing strategy means to an end. It means that once you build your brand at one stage you do not require to do marketing continuously. Always remember marketing is not important than your product / service. You design the product in such a way that you require to put very less money on marketing. Many companies put lot of budget on their marketing strategy rather than focusing on creating the right product. And here eventually your audience understand that your product is not worth buying and all your marketing strategies go waste. So if you do not create a good product marketing is only going to a create losses for your company. Word of mouth is the best marketing channel ever.
Ex: If a Real Estate Developers offer quality service & quality homes to its customer & deliver the project as per committed deadline, customer gets a feeling of satisfaction and definitely he / she recommends the same developers to his network.
Now let’s dive in to CATT Marketing Funnel:
CATT is the most basic framework in Marketing. Your success is depends on the niche you chose. Great minds advise to choose a niche with hungry market. Niche selection is nothing but focusing on one particular product / service.
e.g. In real estate industry there are many verticals available like Residential, Commercial, Agriculture Lands & NA Plots, Weekend homes, Industrial Units, Warehouse, Malls, Lease and Rental, Hotels etc. Here you can target on one particular niche according to your skill.
Always remember if you try to be everybody to everyone then you will be a nobody to everyone.
In CATT C stands for Content: Once you are done with selecting your niche it’s time to create best content to attract audience from your selected niche. You can use digital channels to create your content like Blog posts, Videos, Lead magnets, Live Webinars, Email etc.
Content is the best asset to attract audience in to your tribe & your business.
In CATT A stands for Attention: If you have created a good content then the traffic will automatically attracted to your content. You can do this by SEO, Social media, Paid Ads etc.
In CATT T stands for Trust: Once you drive attention of audience toward your content you also need to build trust with your audience. You can build trust by trip wires, marketing automation & re-targeting. Always remember without building trust you cannot make your customers to purchase your end product. You can build trust by doing deep marketing. Depp marketing means sending personalized communications to your audience by emails, text message, what’s app etc.
In CATT T stands for Transaction: Now that you have built the trust in the minds of your audience it’s time to sell your product to them. You can do this by doing Sales call, sales webinars, sales pitch, and video sales letter. Remember without sales you cannot convert your leads to sales.
Now let’s dive in to Integrated Digital Marketing:
As per my learning Integrated marketing is the best strategy and I recommend it strongly as it helps in creating your personal brand as well as win the hearts of your customers and also create a customer for the life time.
So how you can execute Integrated Digital Marketing practically?
First you need to create a good content to attract your audience. After creating your free content run a paid advertisement on your free content. E.g. you can create a free content on “10 Best Negotiations Skills for Real Estate Consultants”. By this you can create an email list first. Always remember it is good to capture the attention first rather than asking to purchase your product. You can share your content by doing blogging and sharing videos on your YouTube channel.
Now when people come to your content/blog they will subscribe to your newsletter if they like your blog. If you publish a new content/blog post send it to your entire email list and from your email list people will come to your content and then you will get your content listed on the search engine and from here search engine starts ranking you.
You can also use social media to share your content/blog. Once you share your content on social media new people will get captured from social media towards your content and these new people will again go and share your content on social media. This is how you can create list of your prospective buyers and add value to your audience.
Now let’s understand: Personal Branding: Mass Trust Blueprint
Learn: Learn a new skill through Concepts, Facts & Procedures. Understand the concepts, remember the facts and practice the procedures.
E.g. Suppose you want to start your career in to Real estate industry then you must learn the basic terms related to construction sector like what is FSI, Carpet area, built up area, super built-up area etc., also you should have good knowledge if your local territory. You need to learn how to give presentation to your customers, how to do site visits, also you must be good at negotiations & communication skills. But remember the best thing to learn is by doing.
Work: Put your new found skills to work. Go from practice to implementation. Implementing in the real world will give you better understanding. Work can be any like your Job / Freelancing / Own projects) Once you start working you get authority in that particular subject and you can start writing things in details through your content on web.
Now that you have learned the skills it’s time to implement the same skills by working with someone. You can start working with a real estate developer or can work with any reputed realtor within your reach and whatever skills you have learned you can start implementing it in real world.
Blog: Write about what you have learned and experienced through your work. When you write, you understand it better, but you will also start building your personal brand. Now that you have learned and gained experience by working in your field you can share your experience to your audience by writing good blog posts and create a value in the minds of your audience. Without writing you cannot build your personal brand. Nobody knows that you know something even if you expert at it. If you learn and directly start writing without working then it is going to create limited amount of value in the post you create. Your content / post will be only valuable when you learn and work and then speak or write content on combination of both. This will help you make to create a good content.
Consult: Now that you have a personal brand through your blog, have work experience and have learned the fundamentals, start consulting other businesses instead of working for them.
Once you captured the attention of audience, it’s time start your own consultation service rather than working for someone. You can get this authority and positioning only when you go and write and when you write then you get a very clear idea about your subject. Because when you write it gets organized in your mind and you have a better authority over the subject and others also start looking at you as an authority and you will be able to go ahead and start consulting for others where people will be just paying you for your advice.
Mentor: Mentor others who want to become like you. Mentoring will help you scale your understanding to a whole new level.
Now as you have learned the skills and also worked and applied the same skills in real time. Then you have won the minds of your customers by sharing your knowledge and experience with your audience through blogging. After that you started your own consulting firm. Now to gain the expertise in your domain you can start mentoring to audience and develop a platform for those who want to learn, work, earn and grow in real estate industry. You can reach this stage only when you go through the process of evolution. Mentoring can take your subject knowledge to a whole new level. As a mentor you can start selling online course to a group of people by creating audio visual content who want to learn from you. These people may be a group of students, sales professionals, consultants, developers etc.
You can write a content on Negotiations skills for the real estate sales and marketing professionals / Top 10 Digital Marketing strategies for Real Estate Consultants / How to attract customers through Digital Marketing etc. and start a training program for those who reach out to your content.
Start up: Start your own product or service business with the understanding that you have developed about the market, the problem and your own skills.
That’s what I am doing. I learned the concepts, facts and procedures related to Construction field, I worked as a sales professional with 2-3 reputed developers and applied my skills while working, I learned how to create content and write about it and started sharing my knowledge on the web through blogs. I also worked as a Real estate consultant and now I am starting my own real estate construction firm.
Here the basic idea is to have a combination of Talent, Market and Passion. If you just have Talent and Passion then you will be always struggling for results and people will not buy your product as there is no market for it.
Suppose you design a Premium project with all branded fittings but market demand is affordable and economical homes then nobody is going to buy flats / homes in your project though you have designed it so well.
So you need Passion and Market as well along with Talent so you become more efficient in selling your product and services. If you just have Talent and there is a market for it and you don’t have passion and there is a market then someone else with Talent, Market and Passion will go ahead, grab the opportunity and beat you. That’s how you choose a niche.
Learn importance of personal branding
In this article we learned about how to win the minds of your audience and make them your clients for a lifetime. Also we learned about why niche selection is important. Thank you for reading my article on marketing. If you love the article please like and share with your friends.