This is my first article on Marketing and I love to write about Digital marketing. In future I will be writing more articles on digital marketing so keep checking my blog for complete knowledge on digital marketing.
In this article I will write about Marketing, Law of marketing, Building a strong brand, Using Indian Economics to choose your Niche, Traditional V/S Digital marketing, CATT Marketing funnel, Integrated Digital marketing, Personal Branding and How to build an empire or how to start your business.
Many people start their Business without knowing Basics or Fundamental Laws of marketing. they start the business directly by investing huge money with out any personal brand, marketing strategies and also without good content this will lead to failure and loss of money and finally they close the business and never try anything new again because of fear of failure.
This article is most important for the people who want to build their own business or Empire by following correct procedure or rules. Empire cannot be built in a day or two. “Your Empire ain’t gonna build itself without the hustle”. This article is also useful for Bloggers, Professionals, Freelancers, Mentors and also for people who want to start their own business by leaving their job.
To understand and learn digital marketing, first one needs to learn marketing and laws of marketing. so answer me these questions in comment section
What is marketing ?
What is law of marketing?
Ok let me explain about these one by one:-
Marketing is the process of getting potential clients or customers interested in your products and services. The keyword in this definition is “process”; marketing involves researching, promoting, selling, and distributing your products or services.
Marketing is “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.” — Dr. Philip Kotler
Law of marketing :
Marketing is a game of perceptions. never let the marketing become more important than product. A great product sells itself.
- Marketing is based on science, not on creativity
- Marketing starts before creating any product or service. First one should understand what they want then create product to get more customers
- Marketing is about sending right message, to right person, at right time
- Marketing is not just about selling it is also about keeping an existing customer happy so that they can remain customer for lifetime.
There are mainly 3 components of marketing
- Copy writing
In the present scenario every one has good marketing skills they do lot of marketing with different strategies but they forget to do branding and lack in building a strong brand. Branding and marketing are two different things. so, How many of us know to build a strong brand ? Answer is very few right. ok let me explain you few facts about building a strong Brand.
Building a strong Brand
- Don’t try to be the number one in your field, Be the only one.
- Choosing a niche is the most important thing. choose a category and become leader in that category. deciding where to compete is half a success.
- If you cannot be a leader in category, be a leader in sub category.
- Enter a competitive market but always a unique angle. try to do automations and come up with unique ideas to become a successful and make your own brand.
Niche selection is a vast topic by itself I can’t explain about it in detail here it will be mix up . I will be writing about niche selection in detain in my upcoming blogs so please read about it in my next article.
Now we have learnt about Marketing and law of marketing, but the question arises in everyone mind that Why I should learn marketing when I am only Interested in digital marketing . Ok let me tell you about that
Why Learn and Master Marketing?
- Marketing educating has long shelf because it is rooted in human psychology. everyone is following marketing from thousands of years and it will be followed in future also
- Marketing is the only skill or learning which is permanently used and all other things will become outdated and new skills replace it. For EX : 1.Artificial intelligence, machine learning is replacing work of lawyers and doctors 2. Robots are replacing all manufacturing work done by humans
- Marketing is most valuable investment in a business because it gives direct returns. Everything else like production, manufacturing, Administration Etc. is expense, that doesn’t give immediate ROI.
- If you know how to market or sell , then you have safe career. the best example for this is the pandemic period where people are losing the jobs and no job is safe , so if you know marketing you can survive and make your own career and start selling your own product or service.
Now you learnt about marketing and why one needs to master marketing. the other important thing to know before marketing is to know about economics specially Indian economics.
Economics and Marketing(Indian economics):
- When the average age of a country goes up, the economy of the country will get reduced . The average age of India is 27 which is far less than other developed countries like USA and Japan so it will be easy to sell any product in India than other developed countries hence target Indian customers.
- Debt creates money : The average age of India is just 27 . As the young population of India will age they will need more goods and services. This will create more demand. More loans will be given by the banks. more interests and tax is added which means more money is created in the economy. This will cause more growth.
- Before selling any product or service know your target customers. choosing a Niche which is in high demand is half a success by itself. so know your customer before selling any product
- How to find what percentage of India’s population you can target or you can sell your product or service? The Answer to this question can be explained by using Indian Economics
Understanding Indian Economics:
- Let me explain with an example of selling an online course of digital marketing
In the above Image you can see that Indian population is classified in to 3 categories as India 1, India 2 and India 3. where all the details like Working members, Total households, total population, per capita income, GDP of each segment is given. After Reading the Data I can conclude that,
- India 1 is the group of people who have proper education, can speak English , well settled in cities, have computer and Internet connection. There is only 6% of people in this category which is equal to Mexico population, so if you want to sell any online course than you can target only 6% of the whole population.
Why digital marketing is Important?
what is the difference in traditional and digital marketing?
Traditional V/S Digital Marketing:
- If a product is generic with very wide targeting TV Ads can reach millions at a low cost
- But if you want to target particular group of people and particular product then Digital marketing will be very effective as it gives Direct Response and you can also measure your customer at every stage of marketing
- Direct Response Marketing: Most people who run Ads do not know if their ads is working or not, Direct response marketing is useful in this scenario to track weather your ads are working or not and how much response you are getting from customers.
How many of you know about the CATT marketing funnel ?
CATT Marketing Funnel :
- CATT Marketing Funnel is the most Important strategy used in digital marketing
- I can say that Wealth = N^CATT where
- [N] = Niche that you select. Niche means the product or service which you want to sell and wealth depends upon the niche you choose so choose your niche wisely
- [C] = Content. Create Useful content that attracts people to use your niche EX: Blog posts, videos, Lead magnets, Live webinars, Etc.
- [A] = Attention. Drive attention or traffic to your content using SEO, SMM, paid ads and referrals.
- [T] = Trust. Build trust with your audience so that they can become your permanent customer and buy your product repeatedly. ex: Trip wires, marketing automation and retargeting.
- [T] = Transaction. Convert your leads into customers with natural sales method
From the CATT method we came to know that to create wealth choosing a right niche is very important.
How to choose a right Niche ?
Niche is the combination of all the three things that is shown in the above Image . To choose a right niche 3 things are very Important they are
- Talent : you should have a complete knowledge about your Niche then only you can create Good or effective content .as seen in the CATT concept content creation is the first and important step to make wealth, so to create good content first you should have a complete knowledge or talent about your Niche.
- Market : Marketing is the only way to sell your product or service . If marketing is not done then the product cannot be sold, so marketing is the most important thing to sell your Niche.
- Passion : If you have talent and marketing skills but don’t have passion towards your niche then you can’t put you 100% efforts to sell your Niche.
All these three Talent, Market and Passion combinedly put together will help you to select right Niche.
To learn new strategies or ways of marketing to survive in this volatile market check out the Blog Post by my friend Divyesh Rana https://divyeshrana.com/how-new-ways-of-marketing-can-help-you-survive-in-this-volatile-market/
Integrated Digital Marketing :
Integrated digital marketing is the combination of all the different types of digital marketing . As shown in the above image all the digital marketing types are interrelated to each other
we can also compare integrated digital marketing with CATT marketing funnel like Attention creation [A] can be done by using Paid advertising, SEO, and Social media . Trust building [T] can be done by using Email marketing . Transaction [T] isdone by Sell and Convert. and Content creation [C] can be done by content marketing.
Apart from marketing Personal Branding is also very important. if one create huge personal brand then that person doesn’t have to create lot of efforts in marketing his product or service.
Personal Branding :
“Personal branding is the practice of marketing people and their careers as brands. It is an ongoing process of developing and maintaining a reputation and impression of an individual, group, or organization. Whereas some self-help practices focus on self-improvement, personal branding defines success as a form of self-packaging.”
Your personal brand is how you promote yourself. It is the unique combination of skills, experience, and personality that you want your followers to see. It is the telling of your story, and the impression people gain from your online reputation.
Evolution of Personal branding :
personal branding cannot be build in one day it requires process to follow and lot of efforts to create personal branding. There is a separate blueprint to build a personal brand and that blueprint is called as MassTrust Blueprint.
Masstrust blueprint is shown in the Image below .
personal brand building can be achieved by using certain steps they are explained below.
- Learn : Study various fields and understand the concepts of what you study, remember the facts and numbers , practice the procedure until you become expert.
- Work : after you finished with your learning, put your new found skill to work. Go from practice to implement. If you don’t implement your learning in real word all the learning will go into vain. work until you get experience in real world and become expert with your work. working includes things like Job, freelancing or work on your own project.
- Blog : write everything about what you have learned and experienced in your work. writing will help you to understand things better. by writing a blog you can create a personal brand also you can do content writing and make money as a freelancer.
- Consulting : After getting lot of experience and becoming expert in your work you can consult or guide people from your knowledge and experience. now you can take risk to quit your job and do consulting. consulting will help you to build your personal brand.
- Mentor :start mentoring people after building a personal brand by consulting and blogging you can start teaching people new skills and how to succeed. now create your own course and start teaching people. this will help people to learn and become like you. mentoring will help you to build huge personal brand.
- Start-up : By mentoring you have already created huge brand . now you can start your own company or start selling product and services depending upon your Niche.
By following this process you can build your own kingdom and rule the industry easily without any difficulties or failure. but if you directly start selling product or service by investing huge amount without any knowledge, experience and personal brand there will be high chance to fail in selling your Niche. finally you loose everything like money, confidence in yourself, you get demotivate and never try anything new again, so “Don’t just build a business. Build an empire.”
“Try not to waste your entire life working just to earn a paycheck. Seek to discover what your true passion in life is, and start working on turning it into an empire of your own.” — Edmond Mbiaka
In this article I wrote about Marketing and its laws . I also wrote on digital marketing and some of its concepts like CATT marketing Funnel. Personal Branding is also important which many people fail to create. I also wrote about how to build a Business or Empire and this is the most important to learn to be in the race of heavy competitive world. I also explained why correct Niche selection before marketing is very important. Niche selection by itself is a very vast topic. I will be writing about Niche selection in my next article, so please read about it in my next blog . As this is my first article would love to hear from you about the quality of this article in comment section. please leave a comment if there is any questions on the article.
Check out the most interesting article by my friend Tanmay Jain :