Relationship Between Marketing and Customers
The weather is sunny outside. I want to stay at my home. Let’s switch on the Television to watch a movie.
What do I watch while flipping through channels?
An advertisement showing “Voltas Air Conditioner”. This advertisement showcases the high quality air conditioning the AC offers.
Then I thought, why we don’t have any advertisement for luxurious car company “Porsche” or a “Ferrari”.
An advertisement for “Ferrari” showing how much speed the supercar offers. Well, never watched that advertisement on Television.
The reason for that is folks, a company has it’s “Target Customers” and a “Target Market”.
I am writing this to explain you the relationship between customers and marketing.
Marketing is all about how a company or an individual is putting it’s efforts to promote a product or a service.
Now, there is a marketing environment which includes factors that influence marketing decisions. Whether it is directly or indirectly.
While learning about marketing, we have to study the characteristics of population. Their age, gender , size, density, location, occupation, religion, nationality and other statistics. This is called the “Demographic environment”.
And then, there is the “Economic Environment”. This includes factors that influence consumer’s buying power and spending pattern.
According to Engel’s law, as the income increases percentage spent on food decreases. Percentage on housing remains constant. There is an increase in percentage spent on transportation, healthcare and entertainment.
“How to understand your customers in a better way? “
or let me put in this way to make you understand better
“Who is going to buy my product or service?”
This is a kind of question that companies or individuals focus on.
The evolution of marketing has helped us to understand our audience in a better way.
Digital marketing helps us to reach our customers on a global level.
Through the power of Internet , we can reach any individual on Planet Earth. The invention of smartphones made this possible. As it is convenient and user-friendly.
We can understand customer behavior and preferences.
There is a two-way communication which is less expensive than traditional marketing.
Customers can write their feedback about the product or service.
This helps companies to improve on their mistakes by reviewing customer’s feedbacks.
“How can we reach these customers?”
This is the question that popped up in your mind while reading this article.
Let us discuss about the frameworks that are important to answer this question.
Firstly, I am going to explain to you the “CATT marketing funnel”. Its a framework that tells us about the different stages an individual user goes through.
It is a power law to understand your customers in a better way. It is important for us to reach our audience in an engaging way. This funnel is a roadmap towards building a healthy relationship.
Basically, it’s a framework that ensures you are on the right digital path.
Wealth = n ^ CATT
Wealth is equal to n to the power of CATT
where,
“n” stands for “Niche”
Niche selection is a primary task. Choosing a right niche is difficult. Your success and wealth depends on the niche you choose. Because you are not focusing on every individual. You are building relationship with a group of like-minded people.
“C” stands for “Content”.
Consider this as an asset. Because you want to attract your audience to buy your product or service. The content should be useful.
“A” stands for “Attention”
Driving attention to your content using SEO, Social Media , Paid Advertisement
“T” stands for “Trust”
In modern times, building trust is really important as it increases brand awareness. Building trust with your audience is considered a major task in this formula.
This includes communicating with your audience.
“T” stands for “Transaction”
After building trust with your audience, we need to convert our leads into customers.
Secondly, I want to discuss about another framework.
The Integrated Digital Marketing Framework. This framework tells us how to execute it.
We have to learn about this framework as it goes hand in hand with the CATT Marketing funnel. To reach your customers , sometimes, the marketers focus on a particular thing. Like for example using paid advertising to convert your leads into customers. You are focusing on each activity separately.
Which does not work and you will not get the desired results.
To achieve your objective , you must understand an important process here. Each activity is inter-dependent on another.
My content is at the center which is my asset. I am boosting the momentum with paid advertising. Driving attention through S.E.O
and social media.
Then, building the trust with the audience through Email Marketing.
Last but not the least , by building this trust I am converting my leads into customers.
This will help in selling my product and services to the right group of people.
How to be successful in your niche?
With this let me tell you about the personal branding.
To build this trust, you have to show yourself to the world. People want someone who they can put their trust on.
They want to know about you , your work . The kind of skills that you carry with yourself.
Understand in this way.
The product or service that is being provided is a non-living thing. However, they want to hear from someone(Living being) who they can relate to. A living thing promoting the product. You need to put your heart and soul into it.
Therefore, you need to learn a new skill. Share your experience with other people. What kind of challenges you faced while learning that skill. Make them understand the facts , procedures and process. It creates an atmosphere where you are advising people of what is the right and the wrong thing to do. This is a never-ending cycle where you have to wear your failures like a badge.
This is how you understand the relationship between customer and marketing.
Let me know some other ways through which we can build the trust with the customers.