Learn Marketing. Explore. Repeat.
Have you ever wondered — how this market works? How products are made to satisfy our needs and wants? How do we get to know about the products and services that are there in the market and how is it reached to us? Is there a modern way of doing marketing too? And many more.
Well, check out this article to get all the answers.
This will be useful for marketers, students, professionals, freelancers, mentors and entrepreneurs.
Before getting started, basic things that one should keep in their mind are-
· Learning is the biggest investment one can do. This is the first step of the whole process to achieve something.
· After learning, do what you have learnt i.e., practicing and implementing things. Learning by doing is the most effective method to memorise things.
· Doing and teaching cement it in your memory. Teaching others enhances your knowledge of the subject as it organizes your thoughts and gives more clarity of the concepts. This way you can also share your knowledge.
· We should try to use good quality products in our daily life as much as possible as then we will automatically be compelled to even create good quality products.
· We should pin our goals and aspirations on the wall or board so that they are infront of us everyday and can drive us to achieve them.
· Setting a financial goal and creating a plan, of how many customers to be reached with the product of a particular cost, to achieve it.
So now, the answer to all the questions is Marketing.
Marketing refers to activities a company undertakes to promote the buying or selling of a product, service, or good.
Activities include advertising, selling, and delivering products to consumers or other businesses.
Nowadays, marketing is customer driven. Goods are produced keeping in mind the consumer wants.
Therefore, consumer needs and wants are identified through research and study. What is offered for sale should be determined by the buyer rather than by the seller.
For instance, The launch of the ‘Nano’, a small car for the common man of India at an affordable price is a glaring example.
We get to know about the products and services that are out there through Advertising.
People often confuse Advertisement with Marketing.
It may seem ambiguous but it’s not.
Advertising is just a component of the whole process i.e. Marketing.
Now, the Law of Marketing talks about –
Ø Marketing is not based on creativity. It’s not about coming up with creative ideas and products.
Ø It is based on science as Marketing is about sending the right message, to the right person at the right time and at the right place.
Ø Marketing is not just about selling.
Ø It begins before production and continues even after sale of the goods and services which also means that Marketing is a means to an end.
Ø Understanding the customer and customer’s needs leads to creation of a product that fits in the market.
Ø Great product sells itself as it converts customers into brand ambassadors through Word of mouth or any other channel.
Ø Building a strong brand is essential.
The present day marketing is usually done on internet and this medium is known as Digital Marketing.
Here also, Digital Marketing is more about Marketing than about Digital.
Digital marketing is a very dynamic field. It has various components such as Search Engine Optimization (SEO), Email marketing, Search Engine Marketing (SEM), Content Marketing, Social Media Marketing etc.
TRADITIONAL MARKETING VS DIGITAL MARKETING
o Traditional forms of marketing are still used in a country like India where most of the population is still residing in rural areas and can overpower the digital ways of marketing in various domains.
o For digital marketing you need an internet connection whereas, most of the population in India has TV’s in their households which makes the reach easier for the firms.
o To understand the content on the internet, you need to be an English affluent whereas, there is no language barriers in traditional form of marketing such as TV’s, radios, newspapers etc as they are available in almost every regional language.
o A generic product can be reached to millions through TV ads at a low cost which may not be possible in Digital Marketing.
o Personalize communication, Deep Marketing and natural sales can only be done through Digital way of marketing.
During these times of corona, Internet has become an invincible part of our lives therefore, it can be said that the reach of Digital marketing will only increase in the coming future.
CATT MARKETING FUNNEL
The formula for wealth creation is,
Wealth = nCATT
Where,
N stands for Niche. Success and Wealth depends on the niche you choose.
C stands for Content. Content is the asset which attracts the customers to the product and business.
A stands for Attention. Driving attention or traffic to the content is very vital. Paid advertisements, SEO, referrals etc., play a major role.
T stands for Trust. Building trust with the audience is also one of the significant steps.
T stands for Transaction. Convert leads into customers using natural sales methods.
( Niche → Content → Attention → Trust → Transaction )
This funnel is used to generate wealth using the above mentioned criterias.
INTEGRATED DIGITAL MARKETING
Integrated Digital Marketing is like a process in which all the methods of Digital Marketing that are available at present, are combined like a team in such a way that each channel compliments the other one. The common methods in Digital Marketing are :
- Search Engine Marketing ( Pay Per Click )
- Search Engine Optimization ( Organic Traffic )
- Email Marketing
- Social Media Marketing
- Digital Display Marketing
- Content Marketing
By creating comprehensive and good quality content, awareness of the product and service is spread among the audience. Ads, built on the basis of this, gives a clear idea of the good or service offered and it drives people to search about it even further if they find the product useful. They would search for their reviews online or ask their circle about the merchandise using social media platforms. Information can be spread through email marketing, social media, search engine marketing and so on. Sales can be generated by building trust among the audience and convert it into their customers and brand ambassadors to convey it to other people as well.
PERSONAL BRANDING : MassTrust Blueprint
The best known will always beat the best. Without marketing yourself, nobody can build trust.
People want to hear from people and not from brands. A company logo communicating with the audience feels uncanny.
A personal brand can give rise to many brands from his/her influence as it becomes an influencer and a brand ambassador for the companies that they run.
A personal brand cannot be invested in and sold as it is named after the particular person. It is deep and personal.
Some of the personal brands are — Elon Musk, Gary Vaynerchuk etc.
This is how you can build a personal brand :
LEARN — By learning a new skill, you understand its concepts and procedures.
WORK — Practicing and implementing the skills gives more clarity and better understanding. Own projects, freelancing or jobs can help in polishing the skills.
BLOG — Writing about what you learnt and experienced through the process gives a clear image and also helps in creating a personal brand.
CONSULT — After learning, gaining experience and creating a personal brand you can start consulting other people or businesses instead of working for them.
MENTOR — Mentoring others can help people who want to learn the same skill set and can create a great image of your brand.
STARTUP — Starting your own business and selling your own product or service can give a different level boost to your career.
MassTrust Blueprint is a full circle and it never ends.
You still have to learn, work, blog, consult and mentor even when you are running a startup.
It helps incessantly go through this evolution.
Let me know if you found this article useful by commenting below.
(This is part of the Digital Deepak Internship Program.) “http://13.126.1.153/2021/04/15/self-care-is-the-best-care/”