“Marketing takes a day to learn. Unfortunately, it takes a lifetime to master.” — Phil Kolter
If that’s the case, I’m here to help with a blog, or what you can call a marketing 101 for businesses and amateurs. I will attempt to cover all areas of marketing in this article, so fasten your seat belts and prepare for a wild trip.
Read the entire blog because there is a bonus at the end!😍
Contents of the Article:
- Financial Goals
- The Law of Marketing
- Building a Brand
- Why Master the art of Marketing?
- Communication Skills and their Importance
- Global Economics & Marketing
- Digital vs Traditional Marketing
- The Marketing Funnel- “CATT”
- Integrated Digital Marketing
We can make significant changes in our lives gradually, just as we can learn the talent of marketing. Don’t be overwhelmed by the information; this article and I are available to help you at any time.
1. Financial Goals
To have a successful and seamless financial life professionally, you should constantly have a financial goal. It will also assist you in continuing to achieve life’s milestones. It will look possible and simple to make 1 crore in 1-3 years once you have a goal. Make your financial goals so well-thought-out and integrated that you spend money gaining large numbers of clients for a low-cost product that pays off handsomely even if you have a high-end product.
2. The Law Of Marketing
There is only ONE marketing law. Marketing is more than just a creative endeavour; it is also a science. Entrepreneurs frequently believe that marketing begins when a product is launched, whereas, in fact, marketing begins long before a product is created. It all starts with market research and an understanding of the demands and behaviours of your customers. This research will lead to the development of a suitable product.
It’s all about providing the appropriate message to the right person at the right moment when it comes to marketing. It’s not only about selling when it comes to marketing. It’s also about connecting with customers and building relationships to build trust. Because ‘Trust’ is a scarce resource in today’s world.
Marketing is a tool for achieving a goal. Marketing’s goal is to establish a brand and establish a place in the minds of customers. When you have a strong brand, you won’t require as much marketing. Marketing is a perception game. The product has a solid foundation in reality. Never allow marketing to take priority over the product. A great product sells itself, and as a result, your customers become Brand Ambassadors. Word-of-Mouth is the best marketing strategy ever.
Many people confuse Advertising and Marketing. Marketing includes elements such as Advertising, Copywriting, and Sales. The terms “Marketing” and “Advertising” are not the same. Everything is encapsulated in marketing. Everything else falls into place once you’ve mastered marketing.
This is the Law of Marketing, which very well covers up what marketing is all about.
3. Building a Brand
“A brand is the set of expectations, memories, stories, and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.”- Seth Godin
Be the ONLY brand, not the number one. It means choosing a niche and becoming the leader in that particular category. Half of the battle is deciding where to compete. If you can’t be the category leader, become a subcategory leader.
In the long run, people only remember numbers 1 and 2. As a result, every market becomes a two-player market. Begin with a speciality, then gain market leadership before moving on to a broader niche. Enter a competitive market but with a unique angle.
4. Why Learn & Master the Art of Marketing?
Since marketing education is based on human psychology and market understanding, it has a long shelf life. Marketing is a subject that will never go out of style. Marketing is the most important investment a company can make since it generates immediate results. Everything else is a cost that does not generate a quick return on investment.
Marketing cannot be totally outsourced to a marketing firm. A Founder should be the Marketer. Knowing how to market is knowing how to run a business. Every Founder should have a basic understanding of marketing. You’ll have a secure career if you know how to do marketing and sales.
5. Communication Skills and their Importance
It all comes down to good communication in marketing. People believe that marketing is all about persuading people to buy even substandard or inferior goods. However, if you have a solid product and market it properly, the product will speak for itself.
Good communication does not mean fluent English. Vocabulary and grammar aren’t vital for successful communication. The only question to ask is if I can effectively transfer my views?
Write as if you’re speaking, especially when writing a copy, for successful communication. Join in on a dialogue that’s already going on in people’s heads, i.e. offer answers to a problem they’re currently having trouble with; this will help you get a better understanding of your audience.
Write a lot to improve your communication skills. The more you write, the better you will be able to communicate. Writing aids in the development of clarity. Your thought process is slowed while you write. Watching stand-up comedy and sitcoms is another approach to develop your communication abilities. Think in English is one of the most significant approaches. If you start thinking in English about whatever is on your mind, you will be able to put the words together better, which will help you improve your English language and overall communication abilities.
6. Global Economics & Marketing
- The economy of the country improves as the country’s average age rises. To explain this concept, let’s consider the example of India. In 10 years, the majority of the population will be between the ages of 25 and 40, which will contribute significantly to the country’s economic growth.
- Debt creates Money. The more debt a country has, the more cash it has. When individuals or businesses acquire a loan from a bank and repay the loan with a set percentage of interest, this contributes to the liquidity of the bank and the circulation of money in the economy.
- The recession creates strong businesses while driving weak businesses out of the market. If you have a strong product and a strong brand, you will be able to survive the recession. During this period, weak brands and products are pushed out of the market.
- Understanding Indian Economics: – Sajith Pai
7. Digital vs Traditional Marketing
Television, radio, newspapers, and print advertisements are examples of traditional marketing. Traditional marketing will never go out of style, but digital marketing is the way of the future. If a generic product, such as Apple’s iPhone, is on the market, TV advertisements will be required to reach millions of people at a low cost.
In India, television is available in 197 of the country’s 298 million homes. Based on numbers alone, digital marketing has a much smaller reach than television.
The best way to reach India’s affluent English-speaking population with spending power, i.e. 100 million users (India1 population), is through digital marketing.
The radio has a 65% reach, whereas the newspaper reaches 465 million Indians.
In comparison to traditional marketing, the reach of digital marketing is far too limited. Traditional marketing, on the other hand, has a few drawbacks:
- Personalization is not possible with traditional marketing
- It is unable to engage in deep marketing
- Traditional marketing makes natural sales difficult
Also check: Digital Kuldeep’s website https://digitalkuldeep.com/ for some interesting and informative blogs.
*Direct Responsive Marketing:
The majority of individuals have no idea whether or not the advertisement is effective. Branding campaigns are handled by marketing executives in huge firms and ad agencies that do not produce precise and measurable effects. The increase in brand awareness isn’t measurable. In this case, Direct Responsive Marketing (DRM) comes into play.
“Direct Response is a type of marketing designed to elicit an instant response by encouraging prospects to take a specific action.” – Marketing evolution.com
Examples of Direct Responsive marketing are:
- An ad in the Newspaper with a phone number to call.
- A late-night infomercial with a phone number to call and order.
- A Sales page with a product and link to purchase the product.
8. The Marketing Funnel- “CATT”
” Wealth= n^CATT “
The letter [n] stands for niche, and the speciality you choose determines your success and fortune. If you try to be everything to everyone, you’ll end up being nothing to no one.
The letter [C] stands for content, and content is king. Make useful content that attracts people that are interested in your subject. Blog posts, videos, lead magnets, live webinars, and other forms of content Your most valuable asset is your content.
[A] stands for Attention: Use SEO, Social Media, Paid Ads, and Referrals to draw attention (traffic) to your content.
[T] is Trust: Tripwires, marketing automation, and retargeting are all ways to build trust with your audience.
[T] stands for Transaction: Using a Natural sales strategy, convert your leads into clients. This means you know who your target customer is and that they trust you. To finalise the deal, you’ll need to make a sales call and attend a sales webinar.
The Funnel must be completed for you to generate wealth.
9. Integrated Digital Marketing
Integrated digital marketing is a strategy of connecting consumers and prospects with your company or brand that integrates all aspects of marketing communications to help the customer progress from awareness to loyalty and advocacy. Paid advertising helps to keep the momentum going of the Integrated Digital marketing machine.
CATT is a framework for the process that a person goes through on a regular basis. Integrated digital marketing is a framework for putting the CATT funnel into action.
Thank you for sticking it out through this long process; now it’s time for the BONUS. So, as a bonus, I’ll go through Personal Branding with you.
The practice of promoting people and their careers as brands is known as Personal Branding. It is the continuing process of establishing and sustaining a person’s, group’s, or organization’s reputation and image. Personal branding defines success as a type of self-packaging, whereas certain self-help approaches focus on self-improvement. The way you promote yourself is through your personal brand. You want your followers to see your unique combination of talents, experience, and personality. It’s how you tell your narrative and how people perceive you based on your online reputation.
* Power of Personal Branding:
- The best known will always beat the best. Personal branding is important since no one will know you are the best until you tell and promote it.
- People want to hear from people, not brands. It should feel personal whenever you communicate. Have a clear story of who you were and who you are. What has changed about you over time?
- Brands become bigger and larger because of personalisation and deep marketing.
- A lot of CEOs have a larger following than the companies they created thanks to Personal Branding. Ex.: Elon Musk has a larger Twitter following than SpaceX and Tesla.
- Personal branding has the downside of not being able to be invested in or sold. A personal brand will not make investments.
- Personal branding, on the other hand, might provide an opportunity to launch new products and services. This is the upside of personal branding.
- For the companies that they operate, a personal brand becomes an influencer and a brand ambassador. Elon Musk, for example, becomes a Tesla ambassador. That is how a person’s personal brand becomes powerful. The idea is to blend downside and upside in a way that allows you to benefit from both. Although a personal brand cannot become a business, it can provide a large audience. So, begin with personal branding and then let your business run itself.
* Evolution of Personal Branding:
Learn a New Skill. Understand the concept, remember the facts, and put the methods to the test. You can’t build a personal brand unless you develop talent.
Use your skills to Work. Work = Job, Freelancing / Own Projects. Take your practice to the next level by making it a reality. The skills will be better understood if they are used in the real world.
Start writing a blog where you may share what you’ve learnt and experienced at work. When you write, you will gain a greater understanding of the subject and will begin to establish your personal brand.
Now that you have a personal brand and a blog, you can start approaching individuals or having people approach you for one-on-one consultations for their businesses rather than you working for them. Only by writing and gaining a better understanding of the subject, you will achieve this authority.
People who aspire to be like you can benefit from your mentoring. Mentoring will help you take your knowledge to the next level. When you progress from acquiring a skill to practising it and eventually becoming a consultant, you will reach the level of a mentor. You’re not only teaching, advising, or working for one person, but you’re also mentoring a large group of people.
Mentoring = Consulting X 100
Finally, start your own company utilising the knowledge you’ve gained about the market, the problem, and your own abilities.
We’ve reached the end of this article. I hope you have gained some insight and are no longer a newbie in the field of marketing. All of these steps are linked. As a result, you should not neglect any steps in order to attain your marketing objectives.
If you ever get stuck and feel helpless, you can refer back to this blog to polish up on your skills, or you can email me, and I will be pleased to assist you.
“Let’s Learn, Evolve, and Succeed together!😇”
I learned all of this through Digital Deepak. On his website Digitaldeepak.com, he writes a lot of interesting and relevant posts that you may read to get more information.