What is Digital Marketing?
Digital marketing is the act of promoting products and services, with the help of digital devices and technologies such as Desktop computers, Laptops, Mobile phones, and other digital media.
In Digital marketing, marketers can promote their campaigns on Search engines, Social media platforms, Email Marketing, Blogging, etc.
Would you like to learn more about marketing, let me explain about fundamentals of marketing, CATT Funnel, and how to build your personal brand, Niche selection, Integrated Digital marketing, the Importance of Communication, and Indian Economics.
Why is Digital Marketing?
Marketers use digital marketing for their businesses to sell their products and services. Digital marketing becomes more popular than Traditional Marketing.
Over the past few decades, digital marketing evolved at a rapid speed. These days a lot of people spend most of their time on the Internet.
People’s life completely depended on the Internet, might be they thought no Internet no work, and no life. People will be going to die without the Internet and Smartphones. This is called Digital life.
Who is this Digital Marketing for?
People who are interested to learn new marketing skills, newbies, designers, software engineers, Students, Entrepreneurs, Self Employed, Job seekers, painters, salespeople, and even marketers who focus on other areas such as events or branding.
Fundamentals of Digital Marketing
- Marketing is based on Science, not creativity. Creativity comes from the “Right Brain”. Science has driven the marketers predominantly “Left-brain” thinkers. Left brain thinkers operate based on logic, facts, analysis rather than emotional and artistic way.
- Marketing starts before creating the product. Marketers need to market their products before production. It helps to attract the people’s interest, they are very curious about the price, specification, and technology, it drives them to upgrade their existing products. It still remains in people’s minds might they think it will reduce their time and energy.
- Instead of focusing on the “Right message to the Right Person at the Right time”. Successful content marketers are creating “Right value to the Right Audience, in their Time.”
- Marketing is not about selling a product. Make the existing customer happy and serve in a better way. So then they remain your customer for a lifetime. Collecting customer information like name, address, mail ID, and phone numbers useful for future communication, and get feedback from the customer makes the marketers grow faster and earn more than their expectations.
- Marketing is means to an end. The purpose of marketing is to building a brand and creating an environment that will remain in people’s minds forever, capturing the first position depends upon the manifestation of quality of product and performance. For instance, peoples like to buy a high-performance car, suddenly their mind pointing to BMW Cars, looking for the budget they would like to go for Maruti Suzuki, Hyundai, Renault, etc.
- “The aim of the marketing is to know and understand the customer so well the product or service fits him and sell itself. The aim of the marketing is to make selling superfluous” by Peter Drucker
- A great product sells itself, no need for marketing. People will never care about the price they care about the brands and quality of the product and its performance. Marketing is a game of perceptions. Never let marketing become more important than the product. Marketers must provide timely service and respond early when they request leads to stay with marketers for the long term.
- A great product converts your valuable customer into the brand Ambassador, marketers are classified their customers as platinum, gold, and silver customers. Follow up your customer twice in a year and educate them to upgrade by replacing their old products into new there may be chances of selling the products in a great way with a high margin.
- Advertising, copywriting and sales are the components of marketing.
- Everyone knows the Apple product starting from the age of five peoples are using Apple products like iPhone, Macbook, Ipad, Earphones and Headphones, Desktop computers. They always like their features, benefits. Marketing a great product helps the people to discover the product, but also have a good perception of the products.
Types of Digital Marketing Channels
- Search engine optimizer (SEO)
- Search engine marketing (SEM)
- Email marketing
- Affiliate marketing
- Social media marketing
- Content marketing
- Mobile marketing
Search Engine Optimizer (SEO):
SEO is the process of increasing the quality and quantity of relevant organic traffic to your websites from search engines. For instance, online shopping, Amazon, Ali Baba, Flipkart, Club Factory
Search Engine Marketing (SEM):
SEM is the practice of marketing a business using paid advertising on search engines and other websites. For instance, PPC, Google Ads, Facebook Ads, Instagram Ads, Paid Ads, etc.
Email Marketing is an effective way to capture high-quality leads and convert them to customers by sending personalized emails to the targeted audience. For instance, sending emails on daily basis, there is no age limit to sell the products on email.
Affiliate Marketing is an effective way of Digital marketing that involves a merchant paying commission to one or more affiliates. For instance Commission Junction, Amazon affiliates, etc
Social Media Marketing:
Social Media Marketing involves creating different types of content for various social media platforms to promote products and services. For instance Facebook Ads, Instagram Ads, Email marketing, etc.
Content Marketing is an effective marketing technique of creating and distributing valuable online content like videos and blogs etc to the targeted audience.
It is a digital marketing strategy that enables a company to reach the target audience in a relevant manner through any mobile device. For instance tablets, smartphones, etc. via messages, emails, and app install ads.
Digital Marketing vs Traditional Marketing
- Reach is limited
- Delayed communication
- Lack of real-time results
- Difficult to reach Target Audience
- Examples of Traditional marketings are Newspaper, Magazine, Radio and Tv Channels, Billboards
- Reach is maximum
- Instant communication
- Instant real-time results
- Easy to reach Target Audience
- Examples of Email marketing, social media marketing, etc
CATT Marketing Funnel
CATT model is a model for building your personal brand. Once build your own brand everything becomes easy. You can use your personal brand to become a freelancer or a mentor.
Wealth = n ^ CATT
Where n stands for Niche. Your success and wealth depend on the niche you choose.
[C] Content: Create useful content that attracts people from your niche. Blog post, videos, lead magnets, live webinar, etc
[A] Attention: Drive the traffic 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 your leads into customers with natural sales methods.
How to Choose the Right Niche
There are five steps to choose the Right Niche
- Identify your Interest and Passion
- Identify the problems you can solve
- Research your competition
- Determine the profitability of your Niche
- Test your Ideas
Final Thoughts: The above five points won’t be guaranteed to find the right niche, but it will sparkle your ideas and give you a great place to start.
Integrated Digital Marketing
The integration of multiple marketing strategies to form a cohesive online approach for your business. It includes Content Marketing, Email marketing, Sell and convert, Paid Advertising, Social media marketing, Search Engine optimizer in a cyclic system.
Integrated Digital Marketing Framework
Content Marketing is the central part of the Marketing system, quality content attracts the audience. Suppose you have good content don’t stick to the single-channel, use the multiple channels to enhance your business alive.
Look out how the Integrated framework designed to step up your business in marketing life. Follow the framework process to execute your ideas.
A personal brand is a unique combination of skills and experiences that make you who you are. It is how you present yourself to the world.
Effective Personal branding will differentiate you from the competition and allow you to build your trust with prospective clients and employers.
“Your brand is what people say about you when you’re not in the room”.
Power of Personal Brand
A personal brand helps to establish credibility, increase your online influence, secure your work and grow your career, generate sales and attract potential partnership conversations, attract employment opportunities and expand your professional network.
Evolution of Personal Brand and Mass Trust Blueprint
Mass Trust Blueprint is a process of learning the new skill and apply your skill to your work, write down the things that you have learned and do post in the blog, and consult the other businesses, and start mentoring to get new ways to start up your new business.
Learn: Learn the new skill, new concepts, facts, and the procedure. Understand the concepts, remember the facts, and practice the procedure.
Work: Apply your new skills into your work, explore your work ideas go from practice to implementation level.
Blog: Write down the things that you have learned from your experience through your work. When you write, you understand it better, but you will also start building your personal brand.
Consult: You have a personal brand through your blog, you have work experience, and have learned the fundamentals, start consulting the other businesses instead of working for them.
Mentor: Mentors the others who want to become like you. Mentoring will help you scale your understanding to a whole new level.
Startup: Final step is decision making, whether you become a mentor or freelancer.
Optional Things for Digital Life
What’s your plan to Make One Crore in your life
The below diagram shows how to make one crore in your marketing life. Do you know what’s the Indian population? It’s about 138.43 crores. Indian population is equivalent to 17.7 % of the total world population. You can make more than a crore if you plan to get 1 Rs per household.
Initial Step- One Crore = C * P = 1,00,000 * 100 = 1,00,000,00
Second Step- One Crore = C * P = 10,000 * 1,000 = 1,00,000,00
Third Step- One Crore = C * P = 1,000 * 10,000 = 1,00,000,00
Final Step- One Crore = C * P = 10,000 * 1,000,00 = 1,00,000,00C- Crore, C- CustomerP- Product
Communication is a crucial part of marketing goods and services. Good communication means one who delivers their thoughts effectively. Write like you talk and join the conversations, understand your target audience.
- Effective communication builds and maintains the relationship.
- Innovation is necessary for the marketing process, marketing companies’ goods and service, you must be creative. You will be able to come up with innovative ideas when interact with your potential clients. Marketers must have a passion for what they are doing to bring a positive impact.
- Enhance the Transparency- Be Transparent with your Marketers because they are your Brand Ambassadors.
- Understand the culture, needs, and language well you will be able to establish constructive friendships and connections.
- Effective communication establishes professionalism when marketing- Creating friendship and relationship with your potential clients should be professional.
Economics the way you understand it
Five Basic Concepts of Economics
1. Value: value means the power that goods and services have to exchange other goods and services, For instance, one pen can be exchanged with two pencils so that the value of one pen is equal to two pencils.
The value must possess the following three categories
- Utility: A rotten egg has no utility because it cannot be exchanged for anything. It possesses no value in exchange.
- Scarcity: Utility does not create value unless it is scarce. A good or service is scarce (limited) in relative to its demand
- Transferability: Goods should be transferable from one place to another or from one person to another. Thus a commodity to have value in exchange must possess the qualities of utility, scarcity, and Transferability
2. Value and Price: Price is different from that of value. Price is a value expressed in terms of money. Value is expressed in terms of other goods.
3. Wealth: Wealth means money, property, Gold, etc but in economics, it is used to describe all things that have value
- Individual Wealth: Wealth owned by an individual is called private or individual wealth such as a car, house, company, etc
- Social Wealth: Goods which are owned by society or collective wealth such as school, colleges, roads, canals, mines, forests, etc
- National or Real Wealth: National wealth which includes all individual and social wealth. National wealth is real wealth
- International Wealth: The United Nations Organisation and its various agencies like the World Bank, IMF, WHO, etc are the international wealth because all countries contribute towards their operations.
- Financial Wealth: Financial health is the holding of money, stocks, bonds, etc. by individuals in society. Financial wealth is excluded from national wealth.
Wealth is different from Capital, Income, and Money.
- Wealth and Capital: Goods that have value are termed Wealth. But Capital is the part of Wealth that is used for the further production of wealth.
- Wealth and Income: Wealth is stock and Income is a flow. Income is the earning from Wealth. The shares of the company are wealthy but the dividend received on them is income.
- Wealth and Money: Money consists of coins and currency notes. Money is the liquid form of Wealth. All money is wealth but all wealth is not money.
4. Stocks and Flows: A Stock variable has no time dimension. A stock variable does not involve the specification of any particular length of time. A flow variable has a time dimension. It is related to a specific period.
5. Optimization: Optimization means the most efficient use of resources subject to certain constraints it is the choice from all possible uses of resources that gives the best results. It is the task of maximizing or minimizing an objective function it is the technique used by a consumer and producer as a decision-maker.
- India has the world’s sixth-largest economy in measure of Gross Domestic Product (GDP). It has the third-largest purchasing power in the world. India has a healthy growth rate of 7.1 %. World bank has forecasted a healthy growth rate of 7.3 % in the year 2018-19.
- It is predicted that if the current flow of events continues by 2028 India will be the third-largest economy in the world, overtaking Japan’s economy.
- India Economics is a social science concerned with the production, distribution, and consumption of goods and services.
- Its Studies how individuals, businesses, governments, and nations, make choices on allocating resources to satisfy their wants and needs, trying to determine how these groups should organize and coordinate efforts to achieve maximum output.
- Economics is generally broken down into two disciplines, MicroEconomics, and Macro Economics. MicroEconomics focuses on individual consumers and businesses. MacroEconomics, which concentrates on the behavior of the aggregate economy.
Gross Domestic Product (GDP) is the total money value of final goods and services produced in the economic territories of a country in a given year. The GDP of India is projected to be around 100 Lakh crore Indian rupees or around 2 Trillion dollars at current market prices. This is the value of Indian GDP when expressed at market price. Your Personal Experience in Marketing or Social or Branding
- Always markets the good quality product it will create value to the customer if they love to buy they will use it for the long term. Customer experience increases marketing life. As long as the market is good products stay alive.
- Marketing low-quality products, Marketers will lose their valuable customer and their trust, they are not good marketers.
- Good marketers reach up to the point, they always ensure the standards of products.
- Branding is more important in marketing life.
In this article, I’m trying to explain step by step process as much as possible, but the thing is you need to take action. Good Marketers must learn and understand Indian Economics. Indian Economics is very complex to understand. I will try to cover more about Economics in my next article.
I hope you understand the basic principles of marketing. Theory gives only the knowledge you couldn’t do marketing by knowledge, you need to practice and do experiments that make you the good marketers.
A Day without Learning will always be a Day Wasted.