Assume you were into Marketing 20–30 years ago, your company has a product and does not have enough sales. How do you solve this problem?
If you take the traditional approach, it would come down to two words - buying ads. Ideally, a lot of them and advertise it to as many people as possible.
The objective of these campaigns is also mass. In your ads, you're persuading the mass audience that your product is a part of a mass culture.
But those days are gone now. Now, these masses are split between millions of micro-segments.
These micro-segments are spread everywhere over the internet and cannot be targeted with the same advertisement. It needs to be different.
The platforms now also allow you to reach the micro-segments which are ideal for your brand.
For example, you can now target a precise group of people who you want to reach with your ad.
All the platforms Google, Facebook, Instagram, Twitter, Snapchat, YouTube, etc. allow you to do this with just a few clicks.
Unlike television, you don't have to broadcast your message to everyone hoping to reach your ideal customer.
One of the biggest advantage in doing ads over digital media over TV, Newspaper, Radio and other traditional approaches, is that you're able to measure everything.
You're able to see exactly how many people saw your ad, how many of them engaged with it, how many people purchased from your store after seeing your ad, and a lot more metrics.
These metrics allow you to optimize your advertising plan. Save your money from stopping the ads which don't work and get you more money by letting you know which ads work, so you can boost it more.
The one problem with this now is that all this is so easy, every other company can do all of this.
Hence the online ads are saturated as well. But not saturated enough, so you should make some quick bucks while you still can.
Now, what should you do if this is saturated and is becoming more? Companies knowing this, have an alternative approach to online marketing: SEO.
In Search Engine Optimization or SEO, the hope is that by using relevant keywords in your content, it will reach the top of Google search results when someone searches for them.
But almost every Google search yields into more than a dozen of results. So only a handful of companies will be able to be on top.
In a Google search, if you're on the second page, you don't exist.
(How many of you look at the second-page results on Google? How often do you do it? Leave your answer in the comments below)
Fortunately, there are some steps you can take to approach marketing more effectively in 2019.
Now, a product will only sell if it identifies a human desire and fulfills it.
The first step for effective marketing in today's world is very simple: make something worth buying.
Since there are a lot of options available for every possible product or service, yours should be unique in some way. Or at least your way of reaching your ideal audience should be unique.
Effective marketing means making your product provide a compelling answer to people's aspirations so it becomes worth buying for them.
The next step is based on a simple fact that you cannot please everyone, because different people want different things. Even if they have same desires, they might define it in different ways.
The product you're marketing should fulfill a specific definition of the desire and your target audience should consist of people who share that definition of the desire. Everyone else is not your ideal customer.
Understanding this is very crucial while planning the marketing strategy for 2019.
In the next part, I'll share how you can target your audience further, how to focus on the smallest viable market, how to cultivate your own core group of fans, and how to use your network to build a bridge between your initial fan base and the general public.