Marketing is a subject which is practiced practically by everybody wherever you are. Even when you are buying clothes, you are thinking of marketing and the product is “You”. Yoga can help you understand and practice marketing in a much more effective manner. This post will try to bring to focus the principles of yoga which are a part of the yoga curriculum in the 300 Hour Yoga Teacher Training Course.
Yoga poses are one of the prime sections in the Hatha Yoga Curriculum which help to gain strength both of the mind and the body. The focus is on strengthening the core. The same goes for marketing, as the core marketing plan is the soul of the marketing campaign. In yoga you are asked to ask basic question to self like- Why to do yoga? What is the goal? How to reach the goal? Etc. These are the same questions a good marketing plan asks.
An asana is not correct unless it has the proper alignment. The body and mind have to be aligned to get the perfect asana. It is very similar to the marketing plan being aligned with the brand while building the brand perception.
Yoga poses teach balance, and the principle of yoga is to bring balance to the body, mind and the spirit. Marketing plans also should have the same principle of balancing promotion with finance as too much marketing can be the reason for downfall. The promises should be balanced and be as per the product/service being sold.
Becoming flexible enough to bend your body as per the command is another principle of yoga. It does not happen in a day but requires regular practice to reach. Marketing plans can take cue from this principle, and be flexible and also remember that becoming flexible is an ongoing process and being proactive and changing as per the time makes the marketing plan better.
Digital marketing is process of marketing your services or products digitally on the electronic media based on the internet applications. The practice of this approach was discovered by Guglielmo Marconi through the introductions of the signaling methods.
In the modern times it has been great advantage to reach the prospects of your client base across the section of every industry effectively using these skills. In order to fight for your clients on this digital space you have to practice certain rules and methods .The following processes are helpful to carve the path of boosting your business.
- Content Marketing: Content of Your website is always like a king in the process of your communication to the voice of the customers demand through the search engine results. You have to organize a descriptive explanation of the details of your services and products so that, this information can be of great help to draw suitable conclusions by the visitor of the site. If a person is looking for Yoga Training Course in Rishikesh, the information on the site needs to be capable to answer the possible questions about the course and its advantages .
- Social Media Marketing: Social media is integral part of the digital space. Promoting your services via various channels of social platforms allows reflecting on the reliability and credibility of the services through the pages. I follow the face book page of Yoga School in India for the updates of on their courses. Social media has been great help in creating awareness, recognition and means to reach the large numbers audience and can generate the traffic for your website.
- Email Marketing: Marketing through the email is another opportunity of the digital era. You can create a campaign mail containing the details of the products or the services which you intend to sell. This approach can fetch a good business when the mail reaches to the suitable prospective person who can be interested in your products or services.
The best marketing tricks are those that give results with less investment. One of the best marketing tricks in this way is online marketing using blogs. Now you would be curious to know how to use blogs to market your company or product? Is it placing ads on the blogs? Yes, that is a way, but I am talking about a non-commercial way, which costs less money. The way is to create free blogs in the two popular platforms WordPress and Blogspot. You can keep an account of the same on your local computer or Google Cloud. Create blogs related to your company. You can understand the basics of creating blogs via Youtube. Now when you have created 10 blogs, you can use one to link your website/products page to link. The links can be placed inside the post. Make sure you use no more than 15% of created blogs from an IP as Google algorithm is designed to catch up with more than this figure. The blogs being freeware on the world wide network “the internet” can up your ranking on Google search engine and can be used to increase their popularity. So, avoid the festive financial hangover and get ahead in the market with this marketing trick. Next in line are ways to use comments to increase your Google rank.
Today, almost all companies have to be present on social media, and knowing some marketing tricks for small businesses can be the difference between success and failure. Our way of taking in information has changed, from reading books and newspapers to browsing the internet daily. For this very reason, it is on social media platforms that we can promote our business, find new customers, and build our brand. Through a well thought out marketing campaign, we can also get away with spending less money on marketing, through free platforms such as Twitter, Instagram, Facebook, Wanelo or Pinterest. If you have a business, you will have to find out what platform works the best for you. For, say, a small garage, it would probably be the best to use Twitter or Facebook. If you are involved with art or decorative objects, then Pinterest and Instagram is invaluable. If you chose Instagram, you would be wise to pick up some Instagram tricks for small businesses. One of those tricks is to build up your account with followers and many gorgeous photos. If you sell tyres, how can you show that your tyres lead to a particular lifestyle? Maybe by putting them on stylish cars then photographing them with a cool backdrop? Instagram is all about lifestyle. Follow people with interests similar to tyres and, hopefully; they will follow you back. Build up followers to get as much exposure as possible. Other marketing tricks for small businesses is to create a website with great content. Make it informative so that people will come back to read what your company has to say about subjects related to your field. The truth is, our lives are becoming more digital every day, so it is wise to get savvy with social media and the internet.
Success in marketing is highly correlated to the strength of the relationship between customers and the product or service provider. Every marketer aims at making his or her brand known to as many people as possible. As more people become aware of a product or service, there is a high likelihood of conversion to clients or customers. Isn’t that the joy of every marketer? The role of networking in marketing is to build connections that lead to fruitful relationships. Today, the business atmosphere is filled with advertisements, offers, status updates and sales pitches. Almost every business can do these things. For a business that wants to stand out among competitors, creating and maintaining personal relationships with customers is the key to success. Clearly, technology has changed the way marketing is done. Digital marketing has almost entirely outcompeted traditional marketing. This has been good news for marketers who realise the power of networking in marketing. Consequently, firms are now investing heavily on social networking through sites such as Facebook, Twitter, LinkedIn, Yelp and so on. Businesses that have utilised networking have experienced significant improvements in customer satisfaction. Through well-established relationships with their clients, firms can now understand customer needs more precisely. Gone are the days when companies had to carry out extensive market research to record customers’ experiences. Social networking has made it possible for businesses to receive customer reviews and complaints. This has enabled the companies to tailor products to meet their customers’ needs. networking can be life or death for business. Proper management of networks ensures that fruitful relationships between a brand and customers are maintained. On the other hand, if networks are ill-managed or misused, the business’ reputation suffers, and the business can be on the verge of collapse.
Networking in marketing
Jargon has been branded as a barrier to communication. Right from school days we have been taught to minimise the use of it. But is it totally true that jargon are barriers to communication? No its not, colloquialisms, buzzwords or company speak can be useful as a form of communicating while speaking or writing. But using it all the time is not good. In fact, Jargon can be useful when used communicating with a limited audience, i.e. the audience you know. Just making an assumption that the participants will be able to understood your particular ‘company speak’ is what makes them barriers to communication. However, good use of it can help in the following way:
(1) They make meanings clear.
(2) Reduces the number of words and hence effort required by the receiver of the message.
(3) When used properly, the can make the message more interesting. It also reduces the cognitive burden for the receiver of the message. After all, you are required to know the meaning of CEO if you want to become one. Nobody understands Chief Executive officer but all understand the importance of a CEO
If your goal is to reach your target audience, you should always start by assessing which marketing channel is going to be able to give the buyer the right amount of information. For example, if marketing a peer-to-peer loan product, you are likely to find that customers will be ready to spend a fair amount of energy doing research. This is why it makes very good sense to build marketing strategies for explaining payday loans online. Also, if there is no need to pay extra rent and employ lots of people, marketing strategies that are based online may also reduce the interest rate of the payday loan. In fact, online lending has become a very popular business for entrepreneurs. Most online lenders have a high cash turnover. This means that they are usually taking a loan from a bigger bank to always have enough cash on hand. This is why the interest rate for the loans are high. Unfortunately, most big banks don’t want to deal with the whole process of short term loans because they offer competitive credit cards. This is another reason to market peer-to-peer loans online, because banks have most advertising well covered.
In economics there is a Hypothesis which is concerned with the spending habits over the life of an individual. This was propounded by Franco Modigliani and his student Richard Brumberg. It is known as the Life Cycle Hypothesis and commonly known as LCH an acronym. It has gained much importance in marketing over the years as it tries to explain the spending patterns.
As per the theory life can be divided into three stages as per the earning and spending habits differ with each life cycle.
Young Individuals – The income of Young individuals will be moderate. They have just started earning after education. Here also there is a difference between unmarried individuals and married ones. Unmarried will spend almost all of their income and are the most affected by advertising campaigns. The products they will buy will be more towards fashion and trends. When married these individuals become a family and will buy accordingly. But they will spend almost all of their income and also borrow against future income.
Middle Aged Individuals – After crossing 40 people have more reasons to save money. They will be spending on children but not on themselves. They will always try to save a part of their income. This is the saving stage of the life cycle.
Old/Retired Individuals – Much of the savings have been done and the individuals have money in their hands. They will spend as they are done with responsibilities. Spending more on comforts and travel is done by Old individuals.
It is very common behaviour to give discounts if cash is paid now and levy interest on money to be paid in future. The concept behind both of the actions is the time value of money. We will try to understand what this term means in Finance. The common observation is that the inflation rate is the minimum return required to downscale the devaluation.
The money available now has earning capacity attached to it. Hence the value of money will go down over a period of time. Money earns interest and can increase over a period of time and it should be equal to or more to the inflation. Let us try to understand this with a simple example.
Suppose you have $100 at the present moment. You can go ahead and put it in a checking account. If you keep it for a year you can earn up to 2%. So after one financial year $100 becomes $102. So if you lend the money to someone the interest rate will be above 2% to compensate for the time. This is called for time value of money. This is a concept out of the capital budgeting concept in finance. This concept has an effect on business, government and the public at large. A dollar today is worth more than a dollar in future is very much correct. Time is very important resource which guides finance and lives. So if you have to collect money from people who owe you, collect it as soon as possible.