Victor Yakubu

Do you know that marketing your product is more important than the product itself, Surprised? But that’s the truth. While the quality of your product is important to sustainable business, poor marketing in a digital era of social credibility and brand recognition can make your product irrelevant.

Grant Cardone, CEO of CardoneCapital said, A business will fail because of these two reasons;

People don’t known.
People forget about you.

Read the above points again this time slowly.

As you create a strategy in growing your business, Keep in mind that in marketing, growth and consistency is key if you want to build a lasting brand because at the end of the day, It’s not the best product that wins but the best-known one that wins.

Types of Marketing

Search Engine Optimization: Abbreviated “SEO,” this is the process of optimizing content on a website so that it appears in search engine results. It’s used by marketers to attract people who perform searches that imply they’re interested in learning about a particular industry.
Blog Marketing: Blogs are no longer exclusive to the individual writer. Brands now publish blogs to write about their industry and nurture the interest of potential customers who browse the internet for information.
Email Marketing: It’s one of the most effective digital marketing strategy of sending emails to your prospects or customers. This content can serve to generate website traffic, leads, or even product signups.
Social Media Marketing: Businesses can use Facebook, Instagram, Twitter, LinkedIn, and similar social networks to create impressions on their audience over time. 78% of sellers who use social media sell more compared to sellers who don’t use social media.
Search Engine Marketing: This type of marketing is a bit different than SEO, which is described above. Businesses can now pay a search engine to place links on pages of its index that get high exposure to their audience. (It’s a concept called “pay-per-click”)
Video Marketing: While there were once just commercials, marketers now put money into creating and publishing all kinds of videos that entertain and educate their core customers.

Whether offline or online your buyer go through the same journey that you need to know of as a business owner. This is referred to as The buyer’s Journey

Awareness: Your first aim is to provide value to your buyers. Make them realise that they have a problem.
Consideration: The buyer defines their problem and researches options to solve it. They will then decide if your product can solve their problem.
Decision: The buyer chooses a solution. It’s human nature to want to take something with you if you find value for it.

The 4 Ps of Marketing

Let’s quickly talk about this, In the 1960’s, E Jerome McCarthy came up with the 4 Ps of marketing: product, price, place, promotion.

Product: Let’s say you have a product or service to market. The questions you need to answer are; what’s the demand for my product?, who/where is my target audience?, is there market right for my business?, what platform is suitable for marketing my product?, what value those my product add?. The answers to these questions will enable you understand the demand for your product or services and how best to increase quality.
Price: You will have to do some comparison here. Check out your competitors to known how much your audience are willing to pay for your product or services. Price is too high, and you’ll lose out on a solid customer base. Price is too low, and you might lose more money than you gain. So use your research and customer analysis to fix a good price
Place: how and where will you sell your product? You have to decide whether you want to have a physical store, do home delivery or have an e-commerce site. This may need to be factored into your price also.
Promotion: This P probably is the most important. This includes any online or print advertisement, event, or discount you or your marketing team creates to increase awareness and interest in your product, and, ultimately, lead to more sales. methods like public relations campaigns, advertisements, or social media promotions will be employed.

Hopefully, my explanation will help you understand why marketing is important for your business. Marketing intersects with all areas of a business, so it’s important you understand how to use marketing to increase your business’s efficiency and success.

Finally in creating content for your marketing strategy keep these words in mind;

The goal is not to sell to people what you have, the goal is to make them believe what you believe – Simon Serek.

Next Blog Topic: How can i take my business online without a site?
So before you finally decide whether or not you need an official site for your business, you can still take your business online.
I will be talking on this in my next short blog post within the week.

Xoxo.

Victor Yakubu

In high school, my chemistry teacher asked me to define science, I said “science is the study of man and his environment” the next thing he said was “My friend, Talk like a science student” even in college we hear lectures say “You’re an engineer not a mechanic” what they meant was talk like a professional. So what’s the professional way of defining science? Ask Google 😍

There are certain keywords required when defining terms in various fields. often times these keywords shows your understanding about a particular subject. Same thing in digital marketing.

Below are some popular terms used by Digital Marketers and there meaning;

Analytics: It helps you collect data such as metric, dimension( any kind of data used in tracking devices, location, day and time).

A/B Testing: It is when you create two versions of an email to know which one has the highest rate. Serves as a test run for email marketers.

Bidding: It’s a term used in SEM were businesses compete for position(ranking) in search engine.

Call to Action (CTA): Is an instruction to the audience designed to provoke an immediate response, usually using an imperative verb such as “call now”, “find out more” or “visit a store today”.

Click through rate: The number of times people click on an item of interest, like an advert, in comparison to the number of times users are exposed to that item.

Click to open rate: the percentage of subscribers who clicked something in the email as related to the total number who opened it.

Content Marketing: Is a strategic marketing and business process focused on creating and distributing valuable, relevant and consistent content to attract and retain a clearly defined audience and to derive profit.

Cost per click: The amount of money required to produce a single click on a digital advertisement.

Conversion: The number of prospects or customers that complete a task or goal e.g subscribe, share, Order etc.

Data: Information about your Customer, Competitors or Prospects.

Demographic: The population of your leads or customers ranging from location, age, sex, race, income etc. It can also be referred to as data.

Digital Marketing: Digital marketing encompasses all marketing efforts that use an electronic device or the internet.

Display Advertising: Ads is a way of putting your business out their to a wider audience.

Email Marketing: The process of using email messages to share information and promote products and services.

Engagement: this includes likes, favourites, comments, rating, reviews and Inbound website link.

Impression: The number of times an Advert is displayed.

Inbound Marketing: Inbound marketing is a business methodology that attracts customers by creating valuable content and experiences tailored to them. inbound marketing forms connections they are looking for and solves problems they already have.

Influencer: An influencer is someone who has the power to affect the purchasing decisions of others because of his or her authority, knowledge, position, or relationship with his or her audience.

Key Performance Indicators (KPI): A quantifiable measure used to evaluate the success of an Organization, Projects in meeting there objectives.

Lead Nurturing: Is the process of building relationships with your prospects with the goal of earning their business when they’re ready. Lead nurturing is important to inbound marketing because it’s your opportunity to provide value to your leads and customers and help them grow with your business.

Marketing Qualified Leads (MQL): MQL refers to a lead that is more likely to become a customer or is a lead who has been deemed more likely to become a customer compared to other leads.

PayPerClick (PPC): An advertising system in which advertisers pay for users to click on their advertisements.

Return on Investment (ROI): This refers to the business gain which may include some or all of the following; Direct Sales Revenue, Lead Conversions, Support Cost Per Customer and Lifetime value.

Sales Qualified Leads (SQL): An SQL is a prospective customer that has progressed past the engagement stage, has been thoroughly analyzed by both marketing and sales, and has been deemed ready for the next stage in the sales process. SQL are music to your sales team ear.

Search Engine Optimization (SEO): The practice of making changes to web pages, content, and the promotion of that content to improve visibility in the organic or unpaid search engine results.
Without SEO, your content may be lost somewhere on page 50-100 of the search results. It is a must for online writing, regardless of your expertise.

Search Engine Marketing (SEM): A form of advertising that allows you to bid for your
advertisement to show along with search results for keywords that people are typing in. This lets businesses be seen by people at the very moment they’re searching for the things the business offers.

Segmentation: The process of separating your customers or prospects into various demographic based on Age, Sex, Location, Profession, Device etc.

Social Listening: How you track, analyse and respond to conversations across the internet.

Social Media Marketing: A form of internet marketing that involves creating and sharing content on social media networks in order to achieve your marketing and branding goals. Social media marketing includes activities like posting text and image updates, videos, and and other content that drives audience engagement, as well as paid social media advertising.

Social Monitoring: The method of looking for mentions of your brand, products, Hashtags, Your employers, your competitors and Customer.

User Generated Content (UGC): Just as the name implies, these are content generated by your customers.

Vanity Metrics: are things you can measure but doesn’t really matter e.g Impression, likes, share, comments, followers, open rates, views, traffic or time.

Its actually a very long list which i wi still go into in subsequent post.

Kindly share, comment and Follow my blog as i will be exploring more aspects of Digital Marketing and Tech in subsequent posts.

Finally have you been planning to go into a business or learn a new skill for a while now? Don’t wait until everything is perfect(it may never be) start today.

Xoxo

Victor Yakubu