What is the marketing mindset?
Well, there are many definitions of what is a marketing mindset.
As always, I will keep it short and simple.
- First of all, it’s people to people! P2P. No matter what you sell, B2B or B2C, it’s always people to people.
- Second, marketing is all about reaching out, creating a first impression, creating a damn good first impression rather!
- Third, marketing is all about creating a link between emotion and a rationale! So if you can read your target customer’s needs and mind, you are 90% done.
So, in a nutshell, Marketing Mindset is, understanding your Customer’s requirement, finding a cool solution for them which either solves their problem or makes their life easier or better and letting them know; Hey we are there for you.
How to develop a marketing mindset?
If I put it in simple words, How to think like a marketer-
There can be two cases; you are marketing for your own business, or you are marketing for someone else.
- First and foremost, Put yourself in the business owners shoes and, you need to sell it by any means
- Second, Have empathy towards whom you are going to sell, identify their pain points
- Third, Find out the most common yes and no from your customers, if you have old data well and good, else assume or use your sixth sense 🙂
- Last and most important, Think that you are not selling, but you are actually helping someone buy it!
How to Apply Design Thinking in Marketing Mindset?
Lets first know what design thinking is.
In marketing context “It’s the ability of a marketer to understand the target customer’s problems & provide solutions to them via a marketing message, i.e. your ads”. Let’s also understand how to do it!
- Understand what the pain points and problems of your target customers are and how your product or service can solve that.
- Convey how you are making your target customer’s life easier by saving their time, money, efforts, helping them be more productive or making more money.
- Innovate new ways to reach out and repurpose the core message
- Reach out new audiences, test new ideas and do it till you find the winning formula.
Application of Design Thinking in Ads
Let’s understand how to apply design thinking with the help of an example.
Let’s take the example of selling power inverters and batteries to 2 BHK/3BHK Houses.
- Find & list the root cause. For example, if you want to sell UPS, power cut is the root cause
- Use power of suggestion: Example: Best Inverter and Battery Combo for 2BHK
- Talk about the end result: Example: Uninterrupted work from home, watch your fav show 🙂
- Answer their FAQs in the Ad Itself – example: Price point, service, after-sales, warranty etc.
Now you see, instead of telling about the product we sell the solution and which will be more approachable!
How to know your Customer's mindset - (Part 1)
Well, it’s practically hard to know what your customers are thinking, what is their mindset.
But yes, let’s try to do it.
We will take two cases, if you already know your customers (have some data) or if you are completely new to the business.
First, we will talk about the tough part, a new business!
- Study competitors?
Their websites, Their social channels, Reviews and rating, Complaints
- Do surveys (digitally)
- Test Your Audience with low-cost engagement and reach ad, Test to different demography, Test different locations, Test Any other ad angles
- Hire someone who has already made sales (either online or offline):
This can help you get the yes and no from your Customer fast and easy!
How to know Customer's mindset - (Part 2)
Here, we are going exploring how to know your Customer’s mindset from the data we have from past campaigns.
- CTR (Click Through Rate) – Number of people who see your ads and number of people who click on it.
- Result Rate: Number of people who saw the ads and how many results we got.
- Bounce Rate on a website – How many closed the website without doing anything or browsing further – lower the bounce rate, better.
- Questions and Comments in Ads
- Funnel conversion rate: from different stages of the buyer’s journey – what is the conversion rate in awareness to consideration, what’s the percentage in consideration to decision/purchase.
- Drop off rate at purchase
- Return rate
Techniques to capture buyer's behaviour
- A/B Testing – test ads on different products, demography or interest groups to see which segment or product is giving better results
- Google Analytics – bounce rate, behaviour flow, new vs returning user, conversion percentage gives us an input.
- Facebook Pixels – Facebook gives us a complete funnel level view and stats and gives us how good or bad we are doing, i.e. for an ecom page view -> view content -> add to cart -> add payment info -> purchase
- Heatmaps – heatmaps tell you about how they browse your site, and within pages which are the most clicked buttons or links.
- Sentiment analysis – sentiment analysis at a basic level can be understood from reactions to ads, positive or negative comments, questions etc.