MARKETING BASICS 101
This guide on Marketing Basics will help you understand the building blocks of any marketing campaigns that you undertake online.
According to wikipedia, Marketing is the study and management of exchange relationships. Marketing is the business process of creating relationships with and satisfying customers. With its focus on the customer, marketing is one of the premier components of business management.
Let us now understand the core aspects that defines the campaign success in marketing basics.
BUSINESS OBJECTIVE AND TARGET AUDIENCE
Business Objective defines the existence of your business and the purpose behind it.
You will have to first come up with the business objective.
If suppose if you are selling a product online, your business objective would be an online purchase.
If suppose if you are very new to the market and would like to get noticed from your target audience, then your business goal would be brand awareness.
Refer the below image to get a complete picture of Business Objective at a broader level.
Your business exists because of the target audience. They are the one who will buy from you.
Once you have set your business goal it’s time to get to know about your target audience.
Target audience is the audience for whom you are providing your product/services through your business.
So to get to know your target audience, you will have to create a buyer persona first.
BUYER PERSONA & NEGATIVE PERSONA
Buyer persona is a semi-fictional character which represents your ideal customer profile.
You need to create a buyer persona first to get a rough idea about your target audience. Then you could use this buyer persona to do some research on your target audience online.
Advantages of creating buyer persona:
- You can send the lead nurturing emails to the segment you have created based on different buyer personas.
- You can come up with multiple buyer person which could help you organize your marketing effort.
- You can better research the target audience and target them through buyer personas.
- You can tailor the content particular to the buyer persona you are targeting.
Negative persona represents the customers for whom you shouldn’t be targeting.
This would help you avoid unnecessarily spending the money in advertising the wrong audience and they will never buy from your business.
It will also help you in reducing the CPA (cost per acquisition) value.
If suppose the audience you are targeting is too advanced for your product or service, you can negate them by with the help of negative persona.
How to create a Buyer Persona for your Business?
To put in simple words, you just have to think from the perspective of your customer.
Then you will get to know how he will be.
- You can follow the below mentioned few practical methods to come up with a buyer person for your business.
- Research on platforms such as Quora, yahoo answers, forums etc.. to know what exactly the target audience is looking for.
- Create surveys and share it with the target audience network to know more about the requirement from the customer perspective.
- If you have existing customers or customer database, have a conversation with them and understand their requirement thoroughly.
- Interview the customers through a phone call to know about their expectations from your product or service.
- You can create an opt-in form on your website to capture the leads by giving them few options to choose from for buyer persona.
- If you have a sales team, get their feedback on different customer they meet.
Tools to create a Buyer Persona
Below are some of the tools to create a buyer persona for your business.
I hope this digital marketing basics 101 guide had helped you understand the core aspects of marketing fundamentals.
Feel free to go through useful resources to learn more about the marketing basics and advanced topics.
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~ Vikram C L