Does marketing start after the product creation?
Is it ok for an entrepreneur not to learn the concept of marketing?
Why should every businessman study a little bit of economics?
Today, with the internship program of Digital Marketing Mentor Mr. Deepak Kanakraju (https://dm.digitaldeepak.com/apply/), we will learn a lot about this vast and indispensable subject. The lessons are mainly meant for aspiring digital marketers. But this will be helpful for other sales professionals, freelancers and entrepreneurs.
Fundamentals of marketing
Marketing is the activity and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, partners, and society at large. It is based on science and it starts before the creation of a product.
“Authentic marketing is not the art of selling what you make but knowing what to make” – By Philip Kotler
As quoted by famous marketing expert Philip Kotler, marketers can design and create products to fulfill such needs with the knowledge of what people need. It is also an art of communicating the existence of such a product to the right person at the right time. Marketing also includes post-selling services, which will build a good brand image and mass trust among the users. Product quality should be given more importance than marketing, so a good quality product will market itself through word of mouth and reference.
Choosing a category to build a brand is most important. For categories where many brands are already there, we can choose subcategories and become no. 1 or only 1 in that category. To make a profit we need to choose a market where there is competition. But we can select different approaches in the market to highlight our brand.
Marketing involves everything from understanding the need of the market to the design or creation of a product to deliverance. Every business owner should understand the subject of marketing and sales and they should strategize the necessary steps.
Marketing is rooted in human psychology and understanding the market was there and it will never cease to exist. It is the most valuable investment of any business as with it direct return is possible. It is a game of perception and it can not be outsourced.
In Marketing communication skills are a very important aspect. This skill does not necessarily mean very good command over any language but a clear transfer of thoughts about the product being marketed. Any marketer should be a good communicator to excel in his field. We need to identify our target customer and start communicating about the features and benefits of our products and services.
Writing is also important to improve our communication skills as it slows down our thought process and makes our understanding more clear. Good writing skills allow us to communicate our message with clarity and ease to a far larger audience than through face-to-face or telephone conversations.
The global economy is another important aspect about which a marketer should have a basic knowledge. Whether products will be in demand, can be understood by learning the spending habits of the population. When the average age of a country’s population goes up, spending also goes up. So in a country where the younger generation is consuming more, entrepreneurs can focus on starting new businesses and grow. For developing economies like here in India many more opportunities are blooming every day. We need to identify the opportunities and convert them into reality.
Traditional Marketing vs Digital Marketing
Traditional marketing still holds the major share in all marketing mediums. It involves newspaper, television, radio, postering, leafleting, banner, hoarding, etc. In this mode of marketing messages are communicated to the masses in a very generalized manner. Targeting the exact match of consumers is really hard or impossible in the traditional approach of marketing. Also, the campaign results are not measurable in every parameter.
Though as a major population is not using the internet, companies will continue to depend on this method.
With the development and growing popularity of smartphones more and more people are using the internet nowadays. And with this development, we have now Online or Digital Marketing in place. In digital marketing, it is possible to target our intended customers precisely. We can reach our customers, we can get their feedback, we can clearly understand what they want or what they need. We can also track the performance of every campaign and check what is working and whatnot. The possibilities with internet marketing are endless.
Though in our country, due to many challenges such as education, infrastructure, a low-income level most people are still not able to use the internet in their daily lives. So with Digital Marketing, we are still not able to reach the major portion where marketers are dependent on traditional marketing.
Integrated Digital Marketing
In a digital marketing strategy, a marketer should incorporate every channel of reaching customers. And all these channels should be interconnected and should be unified to generate the intended result exponentially. This way each channel will complement each other and it will build a kind of machinery that will multiply the effectiveness of each channel. Some of the common methods are as follows.
- Search Engine Marketing (SEM)
- Search Engine Optimization (Organic Traffic)
- Email Marketing
- Social Media Marketing
- Content Marketing
In heart of it, there should be good content that shall drive the entire process. With the useful content, we can build an email subscription base and then connect the users through email marketing or social media posts. And gradually our integrated machinery shall start functioning.
CATT Marketing Funnel
CATT funnel is also a very important step in Digital Marketing Strategy. But before all the strategies we need to choose our Niche.
Niche selection decides our success and wealth creation in digital marketing. It’s about selecting a niche where we have talent and passion and where there is a demand in the market. We should focus on only one niche to become an expert in it and become valuable to the market.
“Chose the niche that you enjoy, where you can excel and stand a chance of becoming and acknowledged leader.” – Richard Koch
Once the niche is selected we can build the CATT funnel by following steps.
Content: Creating useful content in our niche which can solve some problems or issues that are common and which people are searching for. Content can be created by blog posts, videos, podcasts, etc.
Attention: Then we need to get attention by promoting our content via social media or SEO or by paid advertising.
Trust: Once we get attention, we need to build trust with the audience using drip marketing, re-targeting, or personalized emails.
Transaction: And finally we need to convert the audience or leads that we may get into paid customers via a natural sales process. We need sales ultimately to create a sustainable model.
Personal Branding: MassTrust Blueprint
Personal branding is all about getting ourselves known to the market. We really need to work hard to become experts. Once we acquire the necessary skill, we must solve problems and implement them in the real world. We can then start writing blogs and communicating. People like to hear from a natural person, not from any brand or logo. If we can solve their problem they will pay attention. Eventually, we can start our own brand and become brand ambassadors in our chosen field.
This is an excellent blueprint created by Digital Deepak and We should follow these steps with patience and sincerity to reach our goal of creating a successful start-up.
- Start learning a new skill set.
- Implement it by working or practicing in the real world, as an employee or freelancer.
- Write a Blog about our learnings, experiences. Writing clear our thoughts and will help us to build our personal brand.
- Start consultation in our field using our expertise and be paid for it.
- Mentoring others who are in a similar field as us.
- Build our own startup company.
To conclude we must say marketing is an indispensable subject for any entrepreneurs or marketers. To be successful in the world of Digital Marketing we must prepare ourselves with a strong mindset and be prepared to face the wind and stay on the ground. We must keep learning throughout our life. Like all fields, we need dedication and courage to sacrifice whatever is needed in the journey to excel or to be no. 1 in our chosen niche.
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For further readings on Marketing for Digital Marketers please check the below links.