The agility of a market(ing) centred strategy
Business in challenging times tests out the mettle of the agile vs the rigid. Today when we see businesses and the ones that have successfully evolved in challenging times, we see a pattern evolve. A pattern that has made us realise that businesses which were not digitally ready and agile, have collapsed. But it doesn't need a pandemic to teach us that agility in not
just Business Strategy, but also Marketing Strategy has been the reason for the dominance of a few brands vs others. its not as if brands that were all in all Digital Brands that have seen an uplift in businesses.
Most businesses that have not been built of deep strategy and marketing have seen a downturn and have not survived.
For a marketer like me, consumer empathy and insight is the first metric I have learnt in my rich and varied exposure.
The advent of Digital Marketing has created this wave of technology, that makes new aspirants of this art and science feel that marketing is no longer about understanding consumer need, decoding triggers and barriers, see key insights about a slice of life and align a product or a benefit that makes a person's life better, easier or faster. The trend now is measuring analytics, ROAS, CPM, CTR and a host of jargons which make it into a complicated affair and is extremely superficial.
And I get that. Technology has enabled better tracking, has helped us evolve into people who don't want to waste crucial ad monies in campaigns which result in negative ROAS and this is how Brands Campaigns are built.
The minds that align consumer empathy, his key motivators and aspirations and align this with modern world analytics are the ones who are true winners.
It's like a new-age adaptation of a classic but still retails its soul, kind of the work directors like Vishal Bharadwaj have done to do justice to Shakespeare.
What I learnt over the last one and a half decades managing multiple million-dollar brands is the biggest metric of a successful marketing campaign is how strong is the Brands Equity and how efficient is it's TOMA (Top of mind awareness)
The more present and aware you are, the more considered you are, the better people talk about you, the better is the equity you possess. And this is something I find missing in the new age experts of Digital Marketing.
Its a simple equation
Find a Need --> Find a Market --> FInd your Buyer --> Create an offering that solves pain or provides pleasure to the buyer -->Package and price it versus an existing solution
But the equation now is
Make a product --> Assume a Market --> Fit the product to the buyer --> Automate the hell out of your systems to make the buyer surrender to pay
And that is where I have seen a few brands play the game with honesty/. The find the right market, find a strong niche, create a strong personal brand around themselves and then command premium pricing.
Globally a lot of personal brands like Oprah Winfrey, Jim Rohn, Tony Robbins, Warren Buffett have made names and marketed themselves to become bigger than their organisations or their enterprise. In India brands like Digital Deepak, Siddharth Rajsekar, Gopal Krishnan have started this trend of branding themselves.
Personal Branding for me is a topic close to my heart. The evolution of a personal brand has moved from millionaire stalwarts to local employees all trying to stand out and carve a positioning for themselves that helps them win this race towards success.
But while personal branding is ultra-critical, it's not the end in itself. It's a small part of a large infrastructure you need to create and be ready to thrive in a developing world that will benefit from the offering that this brand has.
Today while your personal brand is at the centre of your hub you need to master the following things
Understand Deep Rooted consumer problems
Understand why the consumer is unable to solve the problem despite having pain
Figure out how you can make the solution to the problem better, faster cheaper
Figure out the funnel needed to reach to this ideal consumer
Drive awareness, engagement and consideration for this buyer to be aware, try and then buy your product
Make a strategy of how you can then lower the customer acquisition costs and increase the lifetime value of the consumer
This is a new age agile marketing which can also be termed as Direct Response Marketing
Doing all of this while mastering marketing and your personal brand will help you define yourself in the best way possible. The agility you show towards being present where your target audience is and become platform agnostic is when true agility will come in.
While I write this, I'm re-learning Branding and Marketing by studying the various books and doing an internship with Digital Deepak, I learnt a great formula for creating wealth as an AGILE MARKETER
Its called as the CATT marketing formula and the formula goes like this
Wealth = n^CATT
where n=niche, C=Content, A=Attention, T=Trust and T=Transaction
Success depends on the niche you choose, creating engaging content attracts people towards you and your personal brand, It then drives attention towards your social and digital infrastructure, builds trust that leads to a transaction.
I'm excited to become agile and grow my marketing Knowledge. In case you want to do too, be sure you apply for this internship. It has helped me evolve myself into a thinking marketer once again, a trait I was using lesser and lesser of everyday.
Here is the link to apply if it interests you --> https://deepak.me/internapply
To sum it all up, the agility you show in showing up in front of that audience that can benefit from your solution, is the key to becoming an agile market(ing), centred strategist!!!