SALES + MARKETING
“The future depends on what you do today.” — Mahatma Gandhi
COVID 19 has severely damaged so many businesses. Top fashion house Zara has closed 1200 stores across the world, so many food chains and apparel stores are on the verge of closing a part of their retail business. If the situation is so pathetically effected for a 3-month lock-down, what would be the situation of entrepreneurs if the virus prevails and the lockdown further continues for more than 6 months?
Why my business is falling?
Why my staff are not performing?
How do I grow my business?
How can I quickly make money?
These are the questions that many of the businessmen have always in mind. When we have questions about anything, we should always find out the answers that are meaningful and helpful. Today, I would tell you the mistakes that we commonly do, give some quick tips to all my entrepreneur friends here to put the business on the right track again.
You are Unique
You are a unique person and always have taken the right decision. You are the pillar of the family and have put effort to make everyone happy. You are doing good business for quite some time until something bad happened and the business started falling. You haven’t’ done anything bad or wrong but didn’t see what’s coming. You can grow from scratch again and make your mark.
You are not the only one that has seen this phase but I too have come across similar experiences.
The NOKIA Story
Do you remember?
When Microsoft acquired Nokia in 2014, during the press conference Nokia CEO Stephen Elop ended his speech saying, “we didn’t do anything wrong, but somehow, we lost.” Upon the conclusion of his speech, the entire management team publicly wept.
Nokia was a legendary mobile phone company and every person who was using a mobile phone before 2010, might have come across using Nokia at least once. Nokia couldn’t foresee the technological innovations in mobile markets and didn’t upgrade from feature phones to smartphones. People immediately moved to smartphones with their availability in the market and Apple & Samsung leveraged the opportunity to grab the majority share of the mobile market.
Not only Nokia, but Blackberry who is known for its strong mobile security too lost the game in the smartphone market.
Do you know the reason?
Both Nokia and Blackberry couldn’t see the future and haven’t geared up to hold their position in their markets.
It’s always important to foresee and plan accordingly so that you don’t fall.
Watch your Competition: Before you are putting your efforts to grow the business and making some plans and strategies, just watch what your competitors are up to? I don’t mean that you copy the competition but at least try to kill the competition.
Kinetic Honda was the successful two-stroke scooter in the early ’90s and there was no competitor until a decade but in the late ’90s bajaj introduced sunny, a lightweight high mileage scootertte targeted at teenagers. It immediately captured the good size of the scooter market and gave birth to so many scooters like pep, scooty, access, and activa. Kinetic Honda was bulky and can only be handled by men and women with strength. Kinetic couldn’t focus on the teenage segment where women are slim and delicate. Very soon Kinetic Honda vanished from the market.
Digital Marketing & How it helps the Business to Grow
Why is Marketing important?
In any business, Administration, Staffing, Accounting, and Logistics play key roles but Marketing plays a vital role as it makes the sale happen and brings the customer. Marketing is the lifeblood of business as Sales entirely depend upon marketing. Marketing gives information to the customer, persuades, and convinces the customer and makes sure that buying happens.
Fundamentals of Marketing
1. Know Your Target
a. Have you identified your niche?
You have to understand the area where you are more skilled and where your knowledge can be sold.
b. Who are you trying to reach?
You need to identify your target audience. For Eg: If you are selling pens, your target audience is primarily students and teachers, not housewives and the retired.
c. Where can you find them?
You need to locate the audience carefully. For the same example taken above, your target audience to sell pens would be available in schools, colleges, and Universities.
d. What do they do?
You have to cut down the process to understand the daily activity of the target audience.
e. What do they read?
Now, comes the crucial step. Here we have to showcase our brand and its importance and the benefits to the audience. Always remember that audience are more interested in Benefits rather than Features. For Ex: To sell the pens, you need to advertise on the back cover of Notebooks not in any comics or filmy magazines.
If you’ve done your homework you should be able, to answer all of the above. Focus is always better. Know your audience like the back of your hand. Why will they purchase what we offer? Why will they object?
Focussing on a particular niche gives more results. If you trying to learn two languages in one shot, you may never learn any of them perfectly. It is like the difference between a medical doctor and a cardiologist.
2. Reaching your target audience and educating them on benefits
Now that you know your audience, you can educate them on your benefits, features, and why they should buy your product or service. You’ve eliminated the noise, and you can speak directly to them. What do you want them to hear? What do you want to tell them about what you offer? What do you want them to remember about your business?
3. Craft a Strong Call to Action
Now you’ve identified your target, and you’ve listed out your features and/or benefits. Great work! You now must focus on what you want your prospects to do. What’s the Call to Action?
If you are focused on a particular campaign, assess what are the success measures of that campaign? Do you want them to call? Do you want them to buy something? Do you want them to submit an inquiry?
Be clear about your expectations. Once you’ve identified the course of action you want them to take, make sure you’ve removed any obstacles from them doing so. For example:
- Is your telephone number clearly seen?
- Does your inquiry form structure work?
- Can they purchase via telephone, online or in a brick and mortar store easily?
Test the process. You’d be amazed at how difficult we make it for prospects to complete the desired action. Make the transaction easy, no matter what the call of action. Zero tolerance for obstacles.
4. Measure, Monitor, Log, Report, and Learn
Now that you’ve put in the work and you are ready to push your campaign live be sure to measure and monitor the progress. Learn from your efforts; it will come in handy for each campaign that follows.
What were the results? Did they meet our expectations? If so, why? If not, why? Know the answers to these questions, understand the answers, identify how you can make a campaign better, and identify what worked. Log these answers; analyse the data and work to make each subsequent campaign better.
Traditional Marketing vs. Digital Marketing
The main difference between digital and traditional marketing is the medium through which an audience encounters a marketing message. While traditional marketing uses traditional media like Print Media (magazines, newspapers, and outdoor advertisements, etc.,) and Electronic Media (Radio Broadcasting, TV Commercials, etc.,) digital marketing uses digital media, such as search engines (Google, Yahoo, etc.,), social media (Facebook, Instagram, Linkedin, etc.,) digital video platform (Youtube, Voot, etc.,) or websites.
The CATT Marketing Funnel & Framework
Wealth = n^CATT
[n] Niche: Your Success and Wealth depend on the niche you choose
[C] Content: Create useful content that attracts people from your niche. Blog posts, videos, lead magnets, live webinars, etc.,
[A] Attention: Drive attention (traffic) to your content using SEO, Social Media, Paid Ads and Referrals
[T] Trust: Build trust with your audience with tripwires, marketing automation, and retargeting.
[T] Transaction: Convert your leads into customers with natural sales methods.
Integrated Digital Marketing
Unlike traditional marketing, successful conversions and sales will happen in Digital Marketing by using not one single platform but a combination of multiple tools and platforms which is called Integrated Marketing.
Integrated Marketing is doing Digital Marketing by using Social Media, SEO, Paid Advertising, Email Marketing, and Content Marketing. All these tools bring the customer and direct to Sales and Conversions.
Always remember that you are bigger than your brand. The Customer would like to know about the products and services more from you and not from the brand. Creating your own personal brand makes you more powerful and independent. It makes you influence the people and sell your product/service easily.
Neil Patel teaches you to interact with your audience. Recognized by the former President Barack Obama as the top 100 entrepreneurs under 30, Neil Patel is a world-renowned digital marketing expert. Neil is the co-founder of Quick Sprout, KISSmetrics, Crazy Egg, Hello Bar, and, most importantly to our topic of personal brand examples here, Neil Patel Digital.
If you take a look at Neil Patel’s blog, you’ll notice that almost every blog post has 200+ comments. More importantly, you’ll notice that Neil replies to almost every single comment, which is something his audience really appreciates. Neil’s close interaction with his audience adds extra credibility to what he does and helps build his personal brand image.
Digital Face for your Business
I am giving you two quick tools that help you to immediately put the business back on the right track and two ideas to grow the business further. The first 2 tools will hardly take 10 minutes of your time to get your business on the digital platform. The next 2 ideas will have a greater impact on your business if you consistently follow and do the math.
- Google My Business:
If you are running a business, you have to make sure that the business is registered on Google My Business and get genuine 5 Star reviews. Don’t go for the fake reviews, as people are smarter and can easily smell the bad fish. It’s nothing wrong with asking reviews from customers. If any customer rates you lower than 5 then you can ask the reason for customer dissatisfaction and rectify the issue. The customer always has a chance to edit the review and rate you 5 stars again. This process not only gives an impression on someone that is looking to buy your product/service when they search the business but you too can improve the quality of service which ultimately helps you in growing the business.
2. Directory Listing:
Make sure that your business is listed in any of the trade/industry listings. There are many sites like Sulekha, Just Dial, and India Mart to list the business for free. It always adds mileage to the business as people searching for a particular product/service will have a chance to see your business several times on different platforms. Apart from the credibility that the directory listing creates, what is important to note here is the reach and accessibility. People will directly contact you for the products/services required.
3. Social Media Presence:
Your presence in Social Media assures more confidence in customers and they start owning you or your brand. People/Images that are seen more on social media will have a huge impact on the audience at the subliminal level. Facebook, Instagram, Pinterest, Youtube, Linkedin, WhatsApp, and other social media ease the accessibility and customers can easily reach the brand/person for further sales or service.
The Secret of getting ahead is getting started.
There is no good or bad time to start anything. If you haven’t started any of the above, it’s the right time, the right moment, and the right hour to learn and practically apply in your business. You don’t have to be master in any domain. If you practice, whatever you know, continuously then you will achieve amazing results. If you do not achieve any results, in the beginning, is also a good sign to learn from the mistakes.
Whatever you learn today must be applied in real life to achieve the results.
Deepak Kanakaraju, who was a Motorcycle blog writer 10 years ago, became Number One Digital Marketer in India. What he did was learning, working in real-time, blogging whatever learned. Over a period of time, people started consulting him to grow their business; Deepak started mentoring them and eventually came up with a start-up Pixel Track. Deepak had revenue of 6 Crores for the last 3 years. Now Deepak changed the game by taking interns into his all-new internship program which he started just 11 months ago. There is an overwhelming response from people that Deepak already had seats filled up for 7 batches.
Do you know the reason why people believed in Deepak?
Deepak built a Personal brand that brought him MassTrust. This will happen only through continuous learning, working, and implementing.
So, what’s stopping you? There is no investment needed, there’s no support needed (you can do on your own), and however, there is no programming language or coding to learn. Don’t forget to help someone with your knowledge when you become successful. If you teach someone what you learn then only your thirst for learning starts. Moreover, you will be accepted by everyone and that helps to grow your personal branding.
Special Thanks to my mentor DigitalDeepak.com for inspiring me continuously.