My Perspective on Marketing in 2020

“To reach a sales target of 1 lakh per month is our marketing goal,” says the marketing manager to newly hired interns.

“To call 100 customers daily to get prospective leads to our company” instructs the team lead to her team members.

“To search for prospective clients to get a database of 500 emails list,” says sales manager to marketing search interns.

Do you really think it is the right way of getting business done? If they get leads too what is the chance will they convert to clients? What are the chances will they be consistent in taking our services for the long term? Chances of getting success in doing this way of promoting your product or services are meager.

What is the solution to successful marketing?

“The aim of marketing is to know and understand the customer so well that the product or service fits him or her and sells itself.”

“The aim of marketing is to make selling superfluous.”

-By Peter Drucker
Let’s take an example:
There are 2 businessperson A and B who have their own ways of marketing their product. First Person A creates the product and then launch it to market. He strongly emphasizes marketing his product to the customer base. After spending a good amount of money on marketing like cold calling, hiring a sales team, Campaigns, and many other ways to promote his product, he gets sufficient customers to start providing his services. Disappointment arises when people don’t find his services as worthy. Feedback from customers likes “It’s another way to fool common people”, “Disappointed services”, “Low-quality product” flooded in the market. This gives a decline to the sales graph and ultimately all money and time spent in the marketing of the product at the initial phase prove futile.
The result is a product failed to give ROI.

What is a better solution?

Now, let’s take an example of Businessman B in a particular niche. He understands his customer base, meets them, understands them, does research polls, conduct webinars, and spends a considerable amount of time understanding his customer mindset and their challenges. After understanding their challenges, he defines the problem and conducts extensive research to launch a product that solves the problem of his customer base. He spends most of the time and resources to give a unique and quality solution to the customer. Finally, once the product is launched at the right time, the customer will automatically hire his services. Because he created a unique solution to their problems which was the right fit for their needs. There is not much emphasis on the marketing department as the customer is very much satisfied with the unique solution and a mass of people are already waiting to use these unique services. Mass trust is also built as products got popular with masses of people. Word of the mouth comes in place which is the strongest tool for any new startup or product.

The result is a unique solution bridging gap between customer challenges and providing solutions. Mass trust is established. Once mass trust is built, there is less requirement to spend money on marketing procedures. Do you think Google needs to market its services? Do you think Amazon needs to do market for its services? Do you think BMW needs to market its brand? They all have identified the challenges of common society and come up with their unique and customized solution. In fact, they are no 1 in their niches. Here comes the power of branding and to attain no.1 position in your niche.

A satisfied customer is the best business strategy of all.

 By-Michael LeBoeuf

Examples of Successful Startups which bridges the gap analysis

  1. Paytm There would be hardly anyone who is not aware of the Paytm app. It was founded by Vijay Shekar Sharma in 2010. He never thought that time that his company would be the fastest-growing company and would gain such a mass trust of every sector of the Indian population. One of the unique factors of its success that it is not only popular in cities but has also gained popularity in small towns and villages. In just a span of 8 years, Paytm has over 250 million registered users and counting.

 

2.Whatsapp– No definition is needed to explain WhatsApp in today’s world. When Jan Koum and Brian Acton left Yahoo after they got too frustrated with the idea of so many advertisements on any page. They had a clear vision to create something for the user which is distraction-free and also no advertisements. They wanted to provide gimmicks, reliable, friction-free user experience. It is the idea behind the evolution of Whatsapp. And at the age of 37, Jan Kaum sold WhatsApp at $19 Billion to Facebook.

“The gap between what’s expected and what you deliver is where the magic happens, in business and in life.”

-By Jay Baer, Founder of Convince and Convert, and New York Times best-selling author of Youtility.

3. Uber- When we think of booking a cab, Uber is the first name that comes to our mind. After attending a  conference in Paris, Travis Kalanick and Garrett Camp were just discussing crappy things while waiting for their cab. Later they were busy brainstorming the solution for getting the cab at the right place and right time. And that’s the story behind the evolution of Uber which is estimated to have over 110 million monthly active users worldwide

Conclusion:

The stories are endless. If you emphasize giving quality products/services to the population rather than thriving on only marketing methods, your success won’t be long-lasting. Instead, try to understand the problem and challenges of people in your niches and find a unique solution to them. It is the only way to achieve long-lasting success. Let people follow you rather you follow them with your campaigning methods. Let people wait to use your services rather you blindly create an email database. Mass Trust is the solution to enormous success. Let the masses follow you and wait to use your services. Never under-estimate the power of word of mouth.

“The secret to marketing success is no secret at all: Word of mouth is all that matters”

– By Seth Godin, Founder, and CEO, Do You Zoom

So what are you waiting for, are you creating your own success story today?

 

 

 

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