You may be thinking, what has LAW got to do in Marketing? Yes, every process in nature has its own law, marketing has too.
To have a successful business one should know the law which defines it.
Marketing is directly proportional to human psychology and the market out there. Marketing is also not just about selling your products, it is also about creating trust factors.
In Digital Marketing, digital is just a medium through which marketing is done. Knowing only the digital part like SEO(Search Engine Optimization), Facebook ads, Google ads, Paid ads, etc., don’t make you a digital marketer, at the end of the day one should always know the fundamentals of Marketing. Your end is always to market your product through a desired medium.
The techniques and way of approach vary from person to person and it always keeps changing in the digital medium, but when it comes to marketing, the law and fundamentals always remain same.
In this article, we are going to talk about
- Fundamentals of Marketing
- Digital Marketing vs Traditional Marketing
- CATT funnel
- Integrated Digital Marketing
- Personal Branding
“The gap between what’s expected and what you deliver is where the magic happens, in business and in life.” — Jay Baer
- Fundamentals of Marketing
Marketing is not just about selling your products, it is all about keeping your existing customers happy by giving them the service you have promised before selling your product to them. You should have a good communication and after service so that they can remain a customer for life.
You should always start with understanding your customer under your Niche, their needs that leads to creating a products that fits . Marketing starts before creating the product. In marketing building trust with your customer is very important. Trust building plays a vital role in selling your product. When market was very limited to Tata Motors, it came up with the new car which has got five star ratings for safety, becoming the first car ever to get such ratings in safety department. Customers built trust in their products which made them to come up with multiple cars which got same ratings which resulted in getting good sales. Even if their next product gets one rating less than the earlier ones, still customers believe in them and go buy their products.
Market should never become more important than Product. One should always build their brand strongly so that they don’t have to market themselves every-time to get sales.
There are few unethical marketers who learn marketing to sell their low quality product to higher price. Always build a better product and do less marketing which also helps in selling your product if it is good and suits your targeted customer. Once you build the momentum, you don’t have to put too much effort in marketing. Once you satisfy your customer with the quality of the product, they will start referring others to buy your products, which is always a bonus for you. Word of mouth is the best profitable marketing channel ever. You don’t have to market your product out there, if your product speaks the value. Quality Matters.
Once you learn and master marketing, everything falls into the place. It underlines the importance of knowing where your customer is, so that you can create products and marketing strategies as per customer needs.
There are three types of components of the marketing
- Advertising marketing
- Sales marketing
- Copy writing marketing
2. Digital Marketing vs Traditional Marketing
The difference between Digital Marketing and Traditional Marketing is the medium through which marketer sends message to their audience .
Digital marketing uses digital media like social media and websites whereas traditional marketing uses traditional media like news paper, magazine, TV, Radio, Telemarketing, Billboards etc.,
Traditional marketing is not old fashioned as it sounds, digital marketing plays powerful role in certain segments .
Even in this digital world, TV ads can reach millions at a very low price impression created in traditional marketing is more than digital marketing .
Having high number of viewers ~1 Billion, digital marketing is nowhere close to TV.
Digital marketing is best suited for the people who have spending power and good English speaking population, although you can reach people targeting regional language deep marketing or personalized marketing or targeted marketing, which is not possible in traditional marketing will be the disadvantage but to sell out low cost ad you can always choose traditional marketing.
Having the difference of their own, the selling techniques always rely on this four factors: Product. Price. Place. Promotion.
3. CATT FUNNEL
CATT(Content — Attention — Trust — Transaction) funnel is the most important funnel to execute Digital Marketing.
Lets us put in this way:
Wealth = n^CATT
Whereas n = Niche
Choosing a Niche is very important. Your niche decide your success and wealth.
What is a Niche?
Niche is a very specific market with a specific need. Your Niche shouldn’t be too narrow or too broader in market. Select your Niche which has low competition, allows category leadership and easy to rank SEO.
“Don’t set your goals by what other people deem important.”
C = Content
Create your content based on your Niche, content will be your asset which attracts your audience which gets you business.
A = Attention
Getting traffic to your content using social medium such SEO, Google ads, Facebook ads and so on .
T = Trust
Building trust is most important factor in business you can build trust with your audience using automation marketing and retargetting and Deep marketing. Here communication with your audience plays a vital role.
T = Transaction
Once you build your trust you can’t leave it at here you should always convert your leads into customer, which brings you revenue.
4. Integrated Digital Marketing.
There is a lot of way to get result in digital marketing, some of them uses different method to get traffic/sales separately.
lot of people choose individual method and expect sale to happen, which is impossible.
Eg: If you do SEO and expect more sale which is not possible
Once you create your content, put it out in the market. This helps getting the leads which in turn can be used to sell your content through email marketing. In other way you can push your content in search engine (Ex: Google, in turn search engine send traffic to your content likewise you can do same in social media)
Paid ads helps to boost your contents to more targeted audience once everything is placed properly transaction comes into place this is how it works in real time Integrated Digital Marketing is the way how you execute it.
5. Personal Branding:
The world out there should know that you are good at something, that is when they reach out to you. Personal Branding is going to help you in the long run. You should always stand out against your competitor who may be better than you in your Niche such a way the clients will approach you. Impact of personal brand is such that you can sell multiple product even without making efforts in marketing your products
Downside of Personal Branding is that you can’t sell yourself. anyone can buy your product which is under your name and take over it which gets you profit.
You can be the brand ambassador to your own products/companies, i.e., impact of personal branding is always a profit in business.