- Are you an entrepreneur who is having trouble developing a brand for yourself or your company?
- Do you know how crucial, marketing is to your company’s success?
- Are you putting in a lot of effort to test out different techniques to boost sales?
- Are you a small business owner with limited marketing resources?
If your answer is ‘Yes’ to any of the questions above, you’ve come to the correct spot, and it’ll be good to continue reading till the end.
Let me start by telling you about my first journey into the field of digital marketing. I was having trouble building a brand for myself as a solopreneur. I was in business, but it was mostly via referrals from friends and family. I felt a great urge to expand. I had no idea what I was doing and had no understanding of marketing.
I eventually recognised that if I wanted to succeed in my career, I needed to improve my marketing skills. I began by conversing with a growing number of individuals to have a better understanding of how it works, as well as reading papers and blogs on the subject. Through a freelancer, I had put some money into digital marketing.
When I didn’t notice any effects after a few months, I gave up completely. This was mostly due to my complete lack of understanding. There will be no outcomes if nothing is done. That was my experience in this location.
I made the decision to improve my grasp of marketing. With the world moving towards digital, I felt I needed to brush up on my digital marketing skills. My knowledge of social media was likewise limited. I had created accounts on several social media platforms, but I hardly ever used them.
Getting people to buy your stuff out of their own pockets is not marketing. Marketing’s goal is to solve their problems “profitably” and build a long-term connection with them.
This week has taught me a lot of new stuff that I was previously ignorant of. This week’s focus is on the fundamentals of marketing. From marketing’s scientific rules to new ideas like customer funnels, I learnt a lot of new stuff that I didn’t know before!
The following are some of the most essential ideas I’d like to discuss:
Marketing Fundamentals
Deepak sir has done an excellent job of explaining everything. As he points out, many people in the digital advertising industry focus solely on the digital material, forgetting that the fundamentals of marketing remain the same and that just the content is digital. Many individuals (including myself) focus solely on marketing, social media, and other aspects of the industry, but marketing is much more than that.
Understanding the demands of the consumer when producing a product is the first step in marketing, followed by getting the appropriate message to the right person at the right time. Even when marketing is taking place, it incorporates consumer perceptions, establishing a concept for our product, creating a great product, building trust, and customer involvement.
I’ve learnt the hard way that in order to be a successful digital marketer, one must first understand marketing. It is quite tough to promote and sell anywhere in the sector or niche without a fundamental understanding of marketing.
2. Difference between Traditional and Digital Branding
There are two different sorts of marketing mediums.
Traditional Marketing Media: Traditional marketing media contribute significantly to advertising income in India.
TV Ads: It accounts for 45% of overall advertising income in India. At a cheap cost, television commercials can reach millions of people.
Print Ads: This account for 15% of the overall advertising income in India.
Radio Ads: This account for 5% of overall advertising income in India.
Digital marketing: It is a type of marketing that uses digital platforms such as desktop computers, mobile phones, and digital media to advertise goods and services.
Digital Marketing ads account for 35% of overall advertising income in India. Fast-moving consumer goods, e-commerce, auto, telecom, retail, and durables, according to research, will be the growth drivers of ad expenditure in 2021. The digital marketing business in India is expected to expand by 20% by 2021.
3. CATT Marketing Funnel
Deepak discusses the CATT marketing funnel in his video on Marketing Fundamentals. This is what he claims:
Wealth = n^CATT
Where: n — niche
C — content
A — attention/traffic(using SEO, SEM, paid ads, SM, referrals, emails)
T — trust(using tripwires, marketing automation, retargeting)
T — transaction(convert leads into customers using natural sales)
The CATT funnel is the most effective method for converting cold prospects into paying clients. I’ve learnt how to leverage content to attract people to our products and services, create customer trust, and eventually profit from them.
This is how you choose the best speciality for you. Your niche is the intersection of talent, market, and passion.
a) Finding our passion — First and foremost, we must discover our passion.
b) Talent — Like our passion, our talent should be something we are proud of.
c) Market — In order to choose a good niche, we must conduct a study.
4. Integrated Digital Marketing
Paid commercials, Email Marketing initiatives, and SEO will never yield the desired outcomes. In today’s environment, we have a variety of options for reaching out to our target clients.
The most effective method to address this problem is to develop an integrated marketing strategy that integrates numerous media. For example, we can see how numerous digital marketing channels might be linked together to produce conversions in the diagram.
5. Personal Branding: Mass trust Blueprint
People are more interested in hearing about a person’s personal narrative than they are in hearing about a company’s brand.
People want to observe a person’s accomplishments and be inspired by them to attain success in life. A personal brand might be more powerful than a business brand.
There are numerous entrepreneurs with powerful personal brands, such as Dr Vivek Bindra, Sandeep Maheshwari, Digital Deepak, Sanjay Shenoy, and many more, who use their personal brands to make money.
Choose a category and then refine it down to a sub-category, where you may become a leader in that sub-category, such as an SEO expert, a Social Media expert, or a Marketing Automation expert, for example.
To become a category expert, follow these six steps.
a) Learn — First, learn a skill and then practise it until you perfect it.
b) Work — Put that skill to use at work and start earning money.
c) Create a Blog — Start blogging about what you’ve learnt and experienced at work. By writing, we will become experts and begin to establish our own unique brand.
d) Consult — After gaining sufficient competence in that skill, we may begin consulting with businesses and individuals and earn a solid living doing so.
e) Mentor — Now that we’ve gained some expertise in the industry, we may begin mentoring one-on-one or in groups.
f) Start-up — Now that you’ve completed the first five stages, it’s time to start a business. Making a successful business will need a lot of effort. First, attempt a side hustle to supplement your income while you’re at work, then try to turn it into a full-time business. Only quit your job after you’re certain that your business will cover your monthly costs.
Conclusion
To summarise, I learnt a lot of new stuff this week, including several concepts that were completely new to me and were very effectively described by Deepak Sir. Before you formulate any product, you must first do its marketing. It will have to pause for the possible market to develop.
It’s not only about trading when it comes to marketing. It’s also about grasping your buyer’s delight so they’ll stay with you for a long term.
Experimentation is what marketing is all about. It is based on scientific evidence. Not when it comes to creativity.
If you have a great product, your customers will become brand evangelists. Word of mouth is the most efficient marketing approach.
Both traditional and digital marketing are equally important. It is up to them to get the most of their strengths.
The most important takeaway from this week is that reaching out to consumers at the right time and in the right location with the appropriate message is incredibly effective.
So, I guess that’s all for today! Everyone, be safe till then!
Anmol…
