“Entrepreneurs, Be ready…

Preethi
14 min readDec 20, 2020

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“Beep, Beep, Beep”, The alarm rang. It was 4.00 am. Soon after closing it, Neha hijacked her first thoughts and filled them with gratitude and affirmations. Today is going to be a special day for her. Her friend Anu has invited her for lunch. Anu and her husband Raju quit their corporate jobs in Finland and moved back to India to start their own business.

Her house was clean, calm, and filled with abundant sunlight, air, and much connected with nature. After delicious lunch, the ladies got their own time to discuss a lot of good stuff.

“What made you quit your well-paid job and move to India?”, — asked Neha.

Anu smiled and said, “It’s our long-term plan to settle here and do something on our own.”

“But why India? You would have started something there.”,- Neha

“When all the foreign companies prefer India, why not me?”, asked Anu. In India, we have an abundance of resources, a presence of labor, and relatively lower wages and that’s the reason why foreign companies come to India. They also have special investment privileges such as tax exemption etc.

“Also our product is Indian Herbal products and here we get sunlight all over the year, so we need to be in India”, laughed Anu

“So, you have decided the products?”, — Neha

“Yes. We are starting with three organic personal care products. It’s Hair cleanser with 26 ingredients, out of which, 23 are edible, Face cleanser with 100% edible items and a bathing bar with cold-pressed coconut oil and shea butter.”,- Neha

“Excellent”, You have planned everything.” — Neha

“Yes dear”, We started with a detailed business plan. We documented all the details of our products, objective, investment, split up of investment like how many percent for raw materials, transport, packing, marketing, etc, our Goal, Mission, Vision, and Value. We also created a marketing plan covering 4Ps, that is Product, Price, Promotion, and Place — detailed Anu

“Interesting”, “Do you know about Marketing”, Project Manager with marketing expertise? “ — exclaimed Neha.

“Ha”, every individual knows marketing and that’s what we do when we compete for a job”, — laughed Anu.

“Sorry”, Do you mean we advertise?”,- Neha

“My dear, Advertising is part of marketing. Marketing is about values. Let me explain in detail the commercial aspect.

“ Marketing is communicating the values to the customers. In detail, we can say it’s an art of exploring, creating, and delivering value to satisfy the needs of the target market under profit.

It helps to solve the problem of the people by clearly defining and delivering solutions and explaining the benefits of the solution, so they can get better results” — explained Anu.

“That’s interesting, but still not clear with the problem, what’s that?”- questioned Neha

“Let’s take Amazon as an example. It solved the problem of many people who cannot visit the stores to purchase their items. For many, it saves time, traffic, and at a reasonable cost. It solved the problem of people by delivering value.”- Anu

“Yup, it’s now difficult for me to survive without Amazon. So who’s problem you are going to solve?”,- Neha.

“Good Question”, My marketing plan covers everything including Customer Research. That’s the critical element in Marketing.

Anu moved her laptop towards Neha and explained, “ Look, this is my customer avatar, my ideal customer. My customers are segregated demographically. i.e by age, gender, occupation, income, title, etc.

Next geographically, focusing where they live, their state, city, village, street, neighborhood. Along we have also covered psychologic details such as their attitude, interest, belief, affiliation, organization, religious background, political views, etc.

My ideal customer is someone who was in my status a few years before. I had a severe impact on international brand hair color. I stopped using all branded chemical products and switched to organic products. But many in the market cheated using the term “organic”. Either it was so expensive and didn’t solve my problem or it’s of poor quality.

For the past few years, based on several experiments and doing trial n error on myself, I found these products. When I felt satisfied, I shared it for free with all my friends, neighbors, family, and relatives.

I was so delighted that it solved their problems. Now, I extend the same to unknown people also. Many young ladies, who have undergone a lot of stylish treatments, but couldn’t focus on maintenance has a disastrous effect. We were able to bring back soft and healthy hair. — Anu

“Yes, it happened to my cousin also. After delivery, she lost interest in maintaining straight hair. I believe the new hair and the straightened one together now looks so horrible”, — added Neha.

A similar case in soaps, most of the soaps are prepared by fatty acids that close the sweat pores of the skin. The waste from our body is excreted through many ways and skin plays a major role in it but these fatty acid soaps close the pores of the skin, which forces the waste to remain inside the body and that’s the root cause for many deadly diseases.

People get attracted to flavor, fragrance, and commercial ads with high paid movie artists and never bothered to look at the ingredients and the medicinal value.

We prepare soap without flavor, fragrance, and hardening substance. Initially, even when offered free, my cousins didn’t even accept it as soap. But now, they say “After using this, the international brand soap, which I earlier used is like a stone with good scent”. — laughed Anu.

Anu continued, “We are now connecting with people, understand their pain, their problems, and their frustration, making them feel understood so that we can position our business as the solution to their problems and essentially make them feel better and it is a powerful force.

The effectiveness of marketing is how well you identify your ideal customer avatar, what kind of messages you put in front of them, where you locate them, online or offline so you can put your marketing in front of them, In simple words,

Market ‘The Who”

The message “The What”

Media “The Where”

“That’s a detailed analysis, but similar research would have been done by others also, right?”- Questioned Neha

“You refer to the competitors. We did basic competitor research. We focused mainly to get some missing features that will help to improve the quality of our product.

Competition is a great thing. After all, having competitors in the space proves that there is market demand I love having competitors because it shows me there is demand.

I am terrified of brand new spaces or startups where there is no demand there are no competitors and you don’t know if your product is even going to sell way better go into a market where there’s already an existing customer demand where people are already whatever product you are trying to sell and just trying to better .”, — explained Anu.

“That’s a positive approach, Nice words”, but how you are going to be special?’ — Neha

“Currently we are specialists, the second level in the specialization. It starts with the generalist and then the specialists. We have plans to hire Ayurvedic scientists , identify and understand the herbs, that are not commonly used, and implement them in our products.

Our wish is to make people realize the valuable assets, our ancestors have left for us and transform a healthy lifestyle.”, — Anu

“Excellent, so what’s this level called?”, — Neha

“Extreme Specialist”, — Anu

“So, Is there any level above?” , — Neha

“Yes, it’s a celebrity”, — Anu

“This sounds different”, — Neha

“Yes, it’s mandatory to be different in our business also.

Differentiation answers the question, Why You?, Why your business and what makes you better or different than all the other competitors out there.”, — Anu

“So, You can be different by lowering the price than others to bring more customers?”, — Neha

“Low price means low quality also. Usually, pricing is done either cost-based or Value-based

Cost-based is calculated based on how much the things cost and apply a bit of margin

But we choose Value-based, of course, the best choice. It’s pricing based on the value that the customer is going to receive. We care for their health.”, — Anu

“Do you believe, people continue buying if they realize the value”, — Neha

“Yes, Of course. That’s our ultimate goal. We need to create Lifetime customer value. It’s the value of a customer over their lifetime to your business” — Anu

“Do you mean retaining your existing customers, something like that?’ — Neha

“Exactly, if we understand the value of the customers, it helps to make strategic and budget-conscious decisions about what marketing decisions are good and which ones are bad. If we know the average cost to achieve lifetime customer value (LCV), we can decide our marketing cost to acquire a new customer.

LCV should be always greater than CAC (Customer acquisition cost).

It starts with guiding your customer through the journey of having no idea who you are all the way through the process of becoming lifelong and loyal customers to your product”, — Anu

“It’s a beautiful journey, By the way, do you have any name for your product?” — Neha

“Yes, of course, branding is powerful. BlueGreen is our product name and our company is BlueGreen Factory”, — Anu

“Bravo, that’s colorful. But why BlueGreen?”, — Neha

“Mmm…, We felt these two colors are closely connected to nature. All green around us on the land and blue reflection in the sky and sea. Almost three elements of “Pancha Bootham” are covered.

“Your love towards nature is reflecting, so sweet”, your views and the efforts you have put in is amazing. I had a very bad opinion about marketing. It tempts people to buy and changes lifestyle so on..”,- Neha

“I agree, some of the bad marketing would have created the impact. Let me share something interesting

There is a book by the name “Firms of endearment”, which is a fancy way to say companies we love and I love the subtitle “How world-class companies profit from passion and purpose” And it’s based on asking audiences or random meeting of people, “Is there any company that you like, something like, “Name a company that you would dearly miss if it is disappeared or vanished”.

The leading companies loved by Americans are Amazon, Apple, BestBuy, BMW, Caterpillar, Commerce Bank, Container Store, Costco, eBay, Google, Harley Davidson, Honda, IDEO, IKEA, Jetblue, Johnson & Johnson, Southwest Airlines, Starbucks, Toyota, Trader Joe, etc.

The main thing is these firms are so much more profitable than the ones that have not been dear to us.

The main attribute of their success is “ Their marketing costs are much lower than their peers while customer satisfaction and retention are much higher”.

“Here, who is doing the advertising?”, The customer”.

Some of the companies like Pepsi and Coca-Cola are just advertising all the time, but not close to people’s hearts.

That’s true”, We see Pepsi ad all the time, Do you plan to open a store on your own or sell in supermarket kind of….”, — Neha

“That’s our plan in the future, but as of now only Digital Marketing”, entered Raju, Anu’s husband carrying tea and snacks for everyone.

“Wow!”, I love to see men doing household chores, “Thank You”, so kind of you”, and what’s that Digital Marketing?” — Neha

Digital Marketing is communicating values to customers using digital tools.

Traditional marketing tools are newspapers, radio, TV, Billboards, Magazines, Direct mail, etc.

Whereas Search Engine Marketing, Social media, Blogging, Video creation, Email marketing, Online pay per click advertising are Digital marketing tools.

The main difference between digital and traditional marketing is the medium through which an audience encounters a marketing message.

“So which one is better?”,-Neha

Digital marketing is cost-efficient and allows you to measure, monitor analyze, and test and a much better and much faster rate. the key to maximizing marketing budget and results is to first leverage all available digital options and then start looking at alternative opportunity

Traditional marketing doesn’t allow direct interaction with customers.

But digital marketing offers a higher level of engagement and interaction.

Whether it is through social media comments or email messages, we can connect with our target audience through various digital marketing channels.

Even without online ads, an SEO-optimized website can help you tap into new markets and reach a global audience for only a small investment. The biggest advantage of digital marketing is that you can reach your target audience cost-effectively and measurably.

“So posting Ads on Facebook and Youtube is Digital Marketing. Right?” , — Neha

“It’s part of it. Digital marketing includes Search Engine Optimization, Pay-per-Click, Social Media Marketing, Content Marketing, Email Marketing, Mobile Marketing, Marketing Analytics.”,- Raju

“Ahhh, it’s a big list. So which one is the best?”,-Neha

Mm. The most effective types are Content Marketing, Search Engine Optimization, Search Engine Marketing/Pay-per-Click., Social Media Marketing, Affiliate, and Influencer Marketing. …Email Marketing. “,- Raju

“So What do you see as the biggest challenge?”,- Neha

“Generating Traffic and Leads. We find it much challenging. Of course, Generating enough traffic and leads was the top global marketing issue”,-Raju

“So you mean to say Digital marketing will take over Traditional marketing and we can’t see any TV Ads in the future?”,- Neha

“Not at all. It may not be the first place a business should look to promote its brand, but it can be effective especially in conjunction with digital marketing efforts.

So to make a long story short, digital marketing will not replace traditional marketing entirely but will take a huge portion of the market

Traditional marketing is focused on selling the products produced while modern marketing focuses more on customer satisfaction. It is about looking at the needs of the customer.”,- Raju

“I believe communication skills are mandatory for Digital marketing?”, — Neha

Exactly. Communication is vital to marketing because it brings everyone on the same page. Need to develop good oral and written communication skills.

It makes a marketing campaign memorable and develops an emotional link between the marketer and the target audience. When a piece of communication is to the point, relevant, worthwhile, and compelling, it moves the audience — prospect — to the consumer.”,- Raju

“Amazing, you both have made a lot of groundwork before making a decision.”,- Neha

“Yes. It’s a critical area for business. Everyone must be aware of the CATT marketing funnel and framework.”,- Raju

“What is all about? Is it a kind of Selenium framework?”, — Neha

“Haha… Testing Guru. Come out of your project “, laughed Anu.

“It’s an interesting formula to gain wealth”,- Raju

“Anyone will be interested to know the formula to gain wealth, Please, Go ahead “, — Neha

Wealth = n^CATT

Where n stands for Niche, C for Content, A for Attention, T for Trust, and T for Transaction

Identify your specialization, your interest or ikigai, explore the market, If your niche collaborates with the market and your passion, follow it. If you can solve someone’s problem, success is guaranteed it’s your success and wealth depends on the niche you choose.

Once your niche is selected, focus on content creation. Create useful content that attracts people from your niche. It maybe blogs, videos, lead magnets, live webinars, etc

If your content is ready, it should be shared for other’s views. There is no point in keeping it yourself. So, grab attention by sharing it on social media channels that will drive traffic.

Next comes the critical factor in life. Trust. Ensure consistency is maintained in your content. You need to put in the same effort as your first time. Create a good relationship with your audience. People have a lot of things to focus and you need to retain them. Focus on retargeting through interesting emails.

Finally transaction. Now make a smart move to convert your leads into customers with natural sales methods. “, — detailed Raju

“Big formula to remember and follow. Is it fine to follow any one type of Digital marketing like what you said Social Media Marketing, something like that.”,-Neha

“No. We need to follow Integrated Digital Marketing, which means the integration of multiple marketing strategies to form a cohesive online approach for our business. It is the process of utilizing all available digital channels in such a way that each channel works together by focusing on their strengths and multiplies the effectiveness of the overall marketing strategy.

Integrated Digital Marketing also means having a well-structured and well-defined marketing plan.

“I can follow you, but still what’s the benefit of integrated Digital Marketing?”- Neha

“We can say, we can create Brand Awareness. When marketers integrate the means of communication, they can easily build brand awareness. Your business will be on the Social Media they use, on their email, and Google when they search for something.

Creating a consistent marketing plan is the key to achieving a higher and faster ROI (Return Over Investment)

We can enhance conversion rates with an integrated plan. When all your marketing efforts point in one single direction, it’s easy for buyers to understand where you want them to go.

A great way to generate brand loyalty is to position your brand consistently in the mind of the customer. “,-Raju

“Hey, when you mention Brand, I recollect something I saw on the net. Personal branding. Any idea about it?”, — Neha

“Yes. Personal branding is the practice of marketing people and their careers as brands.

It is an ongoing process of developing and maintaining a reputation and impression of an individual, group, or organization.

It is how you promote yourself.

It is the unique combination of skills, experience, and personality that you want your followers to see.

My friend is a financial consultant. His YouTube channel has 2 lakh subscribers.

He found a niche where he could offer something valuable to the people and then became the most influential and authoritative thought leader in that space.

He serves his audience every day by giving them free content and does it without asking for anything in return.

Personal branding allows you to show current and potential clients your skillset and strengths. “,-Raju

“Wow, Lunch, and Lesson. Overall, I understand for many of the people who aspire to be an entrepreneur can adapt to Digital Marketing. They need to create a Business Plan or Marketing plan document covering analysis on Customer research, Competitor research, Specialization, differentiation, and Branding. Instead of following anyone’s concept of Digital Marketing, it’s wise to go for Integrated Digital Marketing. And I loved that formula…ooh I forgot, that wealth formula, Got it. That’s the CATT framework. Even Personal branding was new to me and interesting.”,- Neha

“Appreciate your interest and we loved your questions “, — Anu and Raj

“My hearty wishes to accomplish your mission and Bluegreen to be successful in solving people’s problem and achieve your goal of transform healthy lifestyle.”, Neha

“Thank you very much for your wishes “,-Anu and Raj

Note : This is part of Digital Deepak Internship program. Link to join next batch

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Preethi
Preethi

Written by Preethi

Nature Lover . WIsh to see the success of every woman in this world.