What is marketing?
Marketing is delivering the user-needs to satisfy customers at a company’s profit.
How is this article for?
Anybody who is interested to learn about marketing and can understand English.
Digital marketing is a component of marketing, digital is just a medium through which marketing can be done. A perfect marketer can be a perfect digital marketer. You get to know about the five things to know before you start marketing an online business which I thought are the important ones according to me.
- 1.The fundamentals of marketing
- 2.Digital marketing vs. Traditional marketing.
- 3.CATT Marketing Funnel
- 4.Integrated Digital Marketing
- 5.Personal Branding: MassTrust Blueprint
Let us go through in detail one by one :
1.The fundamentals of marketing
Marketing revolves around the 4p’s, Product, Pricing, Promotion, and, Place.
The 4pc’s is also known as a marketing mix.
Product: the products are the actual goods and services produced by companies and brands to meet the user-needs including branding, support, and warranty.
Pricing: The price is the cost which the consumer pays for the product including discounts and coupons.
Promotion: the promotion is a communication design to persuade or tell a story to create awareness including sales promotion, advertising, etc.
Place: It can be the place or placement to which geographical location the products and services.
The 4p’c model has certain limitations and criticism and due to digitalization and changing trends, a new model has emerged that is the 4c’s: consumer, cost, convenience, communication.
There are two segments of marketing B2B and B2C marketing.
1.B2B marketing: ( business-to-business) A company sells products and services to a company or organization using B2B marketing strategy.
For example raw materials, equipment, and supplies, etc.
2.B2C marketing: (business-to-customer) A customer buys products and services directly from the business based on their own needs and wants.
For example laptop, phones, clothing, etc.
Law of marketing: The law of marketing is based on the set of rules or guidelines to attract the customers, it starts before the development of the product, during the process, and even after selling the product. If a product is created by understanding the customer needs that fits very well to the user needs then the product sells itself.
Develop a product that solves customer problems and needs, market it with the right message to the right person, at the right time and right place.
Success formula = R4 (Right message – Right person – Right time – Right place.)
“True success is all about working towards meaningful goals and dreams.”
“Having a goal gives a meaning to life and having a financial goal is freedom from fear.”
My digital mentor Deepak Kanakaraju helped me to set a goal: If you want to learn more about digital marketing,
click here: digitaldeepak.com
How to plan to make 1 crore,
we can have 100,000 customers to sell 100 rupees worth of product, or
10,000 customers to sell the product price 1000, or
1000 customers to sell the product price 10,000 or
100 customers to sell the product at a price of 100,000.
This is a marketing funnel filtering the customers and make good profits. Setting targets like small chunks makes it more achievable.
Good qualities of a good marketer:
- Discover good quality products.
- Create a great perception of the product.
- Customize the target audience.
- Keep the existing customers happy.
- Keep engaging brand awareness.
- Build mass trust, so that product sells itself.
- Analyze to get the best results and keep growing.
- Use the weapon ‘ the word of mouth’.
- Aim to make superflowess sales and revenue.
- Digital marketing vs Traditional marketing:
Due to this pandemic, there is a downfall in traditional marketing and a boom in digital marketing. People are working from home and spending more time online and on social media. Purchase decisions are made 85% online by searching blogs, product reviews, watching videos, following brands.
|Sno.||Metric||Traditional marketing||Digital marketing|
|1.||Reach||1,333,668||Millions & billions|
|2.||Target audience||Low||Very high|
|4.||Price||Very expensive||Very High|
|5.||ROI||No guarantee||High returns|
- Tv ads are most popular at a low cost.
- Hoardings on the main roads 298 million hoardings display ads.
- Radio is 65% of the audience reach.
- Newspaper and print media have 465 million audience reach.
- Can’t do custom marketing
- Deep marketing.
- Unintended user broad marketing.
Benefits of digital marketing:
- Reach large audience
- Target the right audience
- High return on investment
- Scale the business very fast
- Intended search leads
- Customize ads on relevancy
- Global marketing
- Target location specialization
- Startups can grow 2x faster
- Viral marketing can go crazy about anything
Direct response marketing: We get know how our ads are doing and analyze the sales and results here are some examples of direct response marketing,
- Make your call-to-action clear
- Run a direct response ad.
- Segment and target warm audiences with Messenger ads
- Kick it old school with direct mail.
- Incentivize referrals. …
- Run a giveaway campaign.
3.CATT Marketing funnel:
Wealth = n^CATT
(n) = niche which you choose to understand people’s problem
C = content creation for the users to attract from your niche through Blog posts, videos, Lead magnets, Live webinars, etc.
A = Attention Drive attention to your content.
T = Trust
T = Transaction
Niche selection can be as small in a special category as the only one in your niche, master it, and then expand it wider and wider into a broad niche. A niche can be your interest or anything which you’re good at or passionate about and love spending time on.
Content quality creates an authority, engaging your subscribers, building your email list, brand awareness, backlinks, a high ranking in google search pages, social media shares and likes much more can be done.
Attention is a very important element. It is very difficult to draw customer’s attention because the customers are distracted by a huge competitor’s brands, already searching for the best results and reviews. Using Lead magnets, discounts or coupon offers or uniqueness of the product or branding royalty can draw attention by SEO, social media, paid ads, and referrals.
Trust building a great quality of the digital marketer aimed to achieve satisfaction and needs. By providing value to the customers’ people start to trust in your brand and give educational knowledge to help them to solve their problems. After gaining trust will automatically generate leads and sales.
The transaction is the conversion of product and services which we offer or intended to achieve for our brand in the niche. This is measured and analyzed and reported to improve better conversions and sales aim for the high-end target audience to generate revenue.
- Integrated Marketing:
Integrated marketing is a network of marketing using different components of marketing like paid advertising, Email marketing, Content marketing, Sell & Convert, Seo, Social media, to complement each other to combine and get most of the profits.
People using one or two ways of marketing and say that email marketing is dead,
Social media does not help complain that nothing works but once you start integrated marketing this works like magic and success will follow you so, it is important to do all components of marketing than trying one to build good brand awareness.
Start with content marketing, create quality content, and get it optimized SEO, do paid to advertise, start posting on social media, build email lists, sell and convert and repeat it all over again. Discover which way works according to your niche analyze and improve.
It depends upon how you execute integrated marketing.
Content marketing writes useful content that people want to read and are interested in.
Email marketing is a powerful tool to generate leads and sales.
Paid advertising helps faster results and conversion
Sell & convert analyses results and get better high supper sales
SEO search engine optimization drive huge traffic to your website
Social media creates branding and drives traffic and sales.
5.Personal Branding and Mass trust blueprint:
Personal branding can be done by step by step process,
- Learn a new skill, keep educating yourself never stop learning and understand work on it, implement it
- Start blogging and make unique content and start consulting people and freelancing work for others to gain authority.
- Then however teach what you have learned and mentor students who are interested.
- Startup branding yourself as a personal branding project yourself as a brand.
It is very important to learn about marketing fundamentals and techniques like content marketing, integrated marketing, CATT funnel, personal branding.
Marketing lasts forever and people will never go out to work or job. All companies and brands need sales of their products and services and everybody depends on us marketers, I am proud to be a marketer.
Read more from Grandhi Swathi, what do you like about this article and please leave a comment.
Read more from Abhishek, Digital marketing for a newbie click here:https://driveagribusiness.com/digital-marketing-for-a-newbie/
The word marketing is a lifeblood of an organization and this is essential because the ultimate revenue is generated through this process.