Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (AMA)
Marketing is very vast, and it has endless actions.
So what is marketing?
Why do we need to learn marketing?
How does it work?
What are the types of marketing? And Most Importantly,
How to get the most out of Marketing.
In this blog, I will tell you about all of these things and explain the fundamentals of digital marketing.
So let’s dive in…
The Importance of Marketing
Marketing Education has long shelf life because we need to understand human psychology, their thinking, and the market.
Marketing has existed since the dawn of civilization- since the first market square appeared in the first village.
It is the most valuable investment in any business because it gives us direct ROI(Return of investment).
As the founder of any firm or business, the key person should have knowledge of marketing. So that he/she can create a good strategy for Marketing.
As a freelancer there are thousand of opportunity in this field
We Do marketing for two main reasons
- To sell any products or services Or To boost the selling of products.
- Increase brand awareness.
The secret Law of Marketing
When it comes to Marketing let’s start with fundamentals.
Marketing starts before creating the product.
We need to understand the market, customers, and their needs. After that, we need to create a product that fits in.
The main motive of marketing is to sell your products and keep your customers happy.
Marketing highlights our products in the market.
It is not just about creativity, like creative concepts and punch lines. It is based on science as well.
What I mean by science is that Marketing needs precise data about customers. The data tells us the right time to send our marketing tactics with the right message and to the right person.
Marketing refers to strategies and tactics for segmenting consumers to build loyalty.
The purpose of Marketing is to build a brand and capture position in the minds of the consumer, For example, Xerox, Colgate, And many more brands you name it.
When it comes to Marketing, you also need to have a great product, because Marketing is a game of perception. And the product is rooted in reality. (i.e., Apple)
If you have great products It can sell themselves, and a great product can turn your customers into the brand ambassador. (Word of moth Marketing)
Product > Marketing.
Marketing is not just about digital or traditional marketing. These two are just a medium to reach out to your target audience. Always keep this in mind.
Marketing included many things like
- Market Research,
- Target Market,
- Great Product,
- Lead generation,
- And above all the target audience and the right strategy.
Also, good Marketing is about good communication because we have to communicate with our audience as well and keep them engaged.
Digital Marketing vs. Traditional marketing.
Marketing has mainly two types Digital marketing and traditional marketing.
The main difference between these two is the medium on which marketing is done.
But the fundamentals of marketing stay the same in both types.
Marketing has other types as well which fall under the subcategory.
- Influencer Marketing
- Social Media Marketing
- Relationship Marketing
- Viral Marketing
- Green Marketing
- Keyword Marketing
- Guerilla Marketing
Every marketing method is important and necessary.
We have to choose the best way of Marketing based on our products.
If we have generic products with a very wide targeting traditional Marketing is the best suite for that.
Digital Marketing best suite for the specific target audience and it has very high accuracy compared to traditional Marketing.
So based on our services and products we can choose the best marketing medium.
The 4Ps and 7Ps of marketing, Which is the marketing mix, One of the most modern marketing strategies.
4Ps:- Product, Price, Place, and Promotion
7Ps:- Product, Price, Place, and Promotion, Physical Evidence, People, & Processes.
How to get the most out of digital marketing
This ear is the digital era. Everything is going digital, From news to marketing.
More and more people are going toward digital marketing, so competition in the Digital marking field also increases.
So How to beat this increased competition?
The answer is Simple “A Personal Brand” Or “The Strong Brand”.
If you create a strong brand your competitions in marketing will not bother you because your brand speaks and do marketing for you, for example, Zoom, Xerox.
Let’s go with the example of Xerox.
Xerox is an American corporation that sells print and digital document products and services. Most of the people will say Xerox instead of saying photocopy. This is the power of a strong brand.
Do not be number 1. Be the only one.
If competition is very high you can have a unique angle in a specific category or subcategory.
Let’s take an example of the personal brand Digital Deepak.
Digital Deepak is the Personal brand of Deepak kanakaraju a Digital marketing expert.
Digital Deepak is No.1 Digital marketer in India. So here country(India) is a subcategory because at the world level completion increases.
So with the power of his brand, he can compete with other digital marketers in India very easily.
That is why Personal Brand or Strong brand is a very positive point to have when it comes to digital marketing or any other business.
How to build a personal brand
A personal brand can be a very powerful thing because people want to hear from people not from symbols that represent companies.
A personal brand becomes an influencer and brand ambassador for the companies that they run.
Elon Musk is the best example of a personal brand he is the face of Tesla, SpaceX, all of his ventures.
Evolution of personal brand
Mass trust blueprint of personal brand
Learn: First things learn about your expertise.
Work: Implement it go practice to implementation in real-time.
Blog: Work in your blog and create unique content.
Consult: Consult and give advice to people on how it’s done.
Mentor: Teach a group of people how to develop.
Startup: Start your own Products or services that you develop.
If you follow this blueprint you will definitely grow as a personal brand.
Do Direct response marketing
Direct response marketing is where you get a direct response from customers by encouraging them to take a specific action.
It includes a landing page or any form like a sales page to take the information of the customers.
Direct response marketing gives precise information about the customer like name, email, phone number, etc…
It tells us if our ads work or not and give us accurate data.
The CATT Marketing Funnel
CATT Marketing Funnel & framework help us in digital marking and lead generation.
It tells us what to do and how to do it.
Wealth = n^CATT
- N= Niche Your area of expertise and your domain.
- C= Content Useful and informative Content from your niche that attracts people. Blogs, Videos, Posts, etc…
- A= Attention Drive attention of your audience to your Content using, SEO, Social media, Paid ads, and referrals.
- T= Trust Build Trust with your audience with tripwires, marketing automation, and Retargeting
- T= Transaction Convert tour leads into customers with natural sales methods.
It is an endless cycle.
If you apply all in the right way you will get amazing results.
But you need to have the right Niche for yourself to succeed.
This diagram may help to find your Niche.
Your niche is a combination of Passion + Talent + Market opportunity.
Use The Integrated digital marketing framework
Integrated digital marketing means applying all the marketing segments in harmony.
- Content marketing
- Paid advertising
- Social media
- Email marketing
- Sell & convert
We need to create a Momentum with all the above-mentioned segments and make them work together according to our products and services.
If you are able to pull this off for your products or services you will get a very powerful digital machine that works for you while you are asleep.
Key points of marketing you need to know from this blog
- Fundaments of marketing
- Personal brand and Niche
- The CATT Marketing Funnel
- Integrated Digital Marketing
- Good communications
- Understanding of Global economics
Now here is a basic chart that can help you to understand how to earn ₹1 corer with marketing.
Of course, you need to sell your products to make this much revenue. For example, if you have 100 ₹ Products you need 10 Lakh customers to earn ₹1 corer. You can increase and decrease the ratio of products price and the number of customers.
You need to implement to get results
In conclusion, all I need to say that first, you have to find your specific domain one person can not be good at everything.
Then learn about it and master it after that, you need to work on it and Apply it in Realtime.
Have an understanding of all but Do not try to do everything by yourself.
Marketing is a very Vast ocean you just need a droplet from it.
Think -> Learn ->Implement -> Apply
Special Thanks Digital Deepak