The Fundamental Law of Marketing

In this blog, I will discuss some essential marketing concepts that help a person become a successful digital marketer.

What is marketing?

Marketing refers to the action taken by a company to promote and sell its products or services. Marketing includes advertising, selling, and delivering products to consumers or other businesses. A few years back, traditional marketing was the backbone of every business’s success. But after the arrival of the internet, the whole thing completely changed. Nowadays, digital marketing has redefined the concept of marketing. It mainly focuses on making the ‘right offer’ at the ‘right time’ to the ‘right audience’.

In this article, we will discuss the concept of digital marketing, how it works, and how it helps generate leads in the market.

Table of Contents:

1. Fundamentals of Marketing

2. Digital Marketing vs. Traditional Marketing

3. CATT Marketing Funnel & Framework

4. Integrated Digital Marketing

5. Personal Branding: MassTrust Blueprint

Fundamentals of Marketing   

 

First, let me know what comes to your mind when you hear the term ‘Marketing’.

Maybe you can say — ‘Marketing is the process of exploring, creating, communicating, and delivering offers that have value for customers, clients, and a large portion of society. Marketing is not only used for selling physical goods but also offered services, even after the sale.

Common examples of marketing at work include television commercials advertisements, billboards and hoardings on the side of the road, social media campaigns, and magazine and newspaper advertisements.

Now you might ask — ‘what is the difference between marketing and selling?’

As you know marketing and selling are two functions within an organization that helps in generating lead and revenue. But there is a huge difference between the two. The term ‘Sales’ refer to all the activities that lead to the selling of goods and services. And ‘Marketing’ is the process that helps to attract people to the brand, goods, and services of the business. The marketing process includes the four Ps of the marketing mix — Planning of a product and services, Price, Place, and Promotion. So marketing is not just about selling any product but also keeping the existing customer happy with the provided services so that the customers remain loyal to the business. Marketing is used to build a brand and trust in the mind of customers.

Marketing starts before creating the product and continues even after the product is sold. It starts with market research and analysis to understand the interest of potential customers which leads to creating a product that fits.

Marketing has developed over time to target a greater audience and to attract a larger target market it develops a more form of the advanced tool of marketing is Digital Marketing.

So in the next section, we will be learning more about digital marketing and we will get to know how it differs from traditional marketing.

Digital Marketing vs. Traditional Marketing

 

Marketing is one of the methods to capture the audience’s attention. There are two methods of marketing. One is traditional marketing, a classical type of marketing, and the other is digital marketing, a modern type of marketing. While traditional marketing uses traditional media like TV, magazines, radio, and newspapers, and digital marketing uses digital media, such as social media, email marketing, SEO, and websites.

Being a digital marketer, it would be unfair to say that digital marketing is better than traditional marketing. Both are good in their own ways and they both have pros and cons. So choosing between both completely depends on the people and the products they want to use.

Traditional marketing is any form of marketing that reaches a user through offline mediums, without the use of the internet. Before the arrival of the internet, this type of marketing was only used for decades. Some common traditional marketing methods include –

• TV commercials
• Radio Commercials
• Newspapers
• Magazines
• Billboards/ Hoardings
• Flyers and posters
• Tele-marketing
• Direct mailers, coupons

Digital marketing is the marketing/promotion of products & services over the internet through numerous digital mediums. Some of the popular digital marketing methods include –

• Email Marketing
• Social Media Campaigns
• Content Marketing
• Search Engines Ads
• Search Engine Optimization
• Pay per Click
• Affiliate Marketing
• Influencer Marketing
• Websites

The major difference between the two is –

The Basis of Comparison	Traditional Marketing	Digital Marketing
Meaning	The promotion of products and services through TV, Radio, Newspapers, Telephone, Banner, Door to Door, etc.	The promotion of products and services through digital media or electronic mediums like SEO, Websites, PPC, Email Marketing, etc.
Conversion	The conversion rate is slow	The conversion rate is fast
Return on Investment	Return on investment cannot be measured easily.	Return on investment can be measured easily.
Effectiveness	Less effective and more expensive	Less expensive and more effective
Targeting	Standardized	Customized
Reach	Local	Global
Results	Delayed results	Quick and real-time results
Communication	One way	Both way

 

Therefore, in conclusion, we can say that digital marketing, though has evolved in recent years became more popular than traditional marketing due to its various advantages. But smart organizations will use both to develop strong relationships between leads and customers.

In the next section, I will be discussing on CATT Marketing Funnel & Framework.

CATT Marketing Funnel & Framework

What is the CATT marketing funnel?

CATT stands for Content, Attention, Trust, and Transaction. This marketing funnel helps to analyze and describe the impact and how our products or services are working in the Internet world. Using CATT funnel marketing, we can build the mass trust of customers with the help of digital marketing.

The basic framework of CATT is — W=n^CATT

Where W stands for Wealth, N stands for Niche, ^ for Power, C for Content, A for Attention, T for Trust, and T for Transaction.

[n] Niche: Your wealth and success depend on the niche you choose. This will be the product/ service which you are going to offer to your target audiences.

[C] Content: Content is the center of marketing. You must create unique and useful content like blog posts, videos, podcasts, live webinars, lead magnets, etc. that attracts people from your niche.

[A] Attention: The next step is to drive attention (traffic) to your content using SEO, Social Media, Paid Ads, and Referrals.

[T] Trust: Once you drive attention you need to build trust with your audience by providing them value. It is the main factor of marketing, without building trust among your audience you will never be successful in the market, as they will never buy your product or services. We need to build trust with your audiences with email sequences, and retargeting ads. One of the best methods of building trust is Deep Marketing where you can send out your personalized communications to your targeted audiences so that each and every person feels like you are communicating with them directly to the point.

[T] Transaction: Once you build trust then the transaction will happen naturally. You can easily convert your leads into customers. But because they trust you don’t mean they will buy whatever you are selling. They only purchase your products or services, if required. So, you need to understand whether your leads have reached the stage where they can easily convert to customers. So you need to execute all the above-mentioned steps successfully in order to convert your leads into customers who will make the transaction.

In the next section, we will discuss various methods of integrated digital marketing.

Integrated Digital Marketing

As we are living in a digital world, you’ll see so much advertising and marketing. Many businesses get lost in the trail as “just another ad”. So, in order to drive better results and get the best strategy to generate leads and sales, you need to cut through the noise of marketing.

But how can we do that? The secret is Integrated Digital Marketing.

Integrated digital marketing is a method of engaging customers with your company or brand that combines all parts of marketing communications to work together and assist the potential audience according to their needs. Investment of time, energy, and money in building an integrated digital marketing process for your business is like investing in machinery which will magically multiply the effectiveness of each component in it.

Some of the common digital marketing methods are:

1. Search Engine Marketing (PPC)

2. Search Engine Optimization (SEO)

3. Email Marketing

4. Social Media Marketing

5. Digital Display Marketing

6. Content Marketing

The above diagram describes the process of integrated digital marketing. Each one has its unique function:

•Content: Integrated digital market is the team with Content as the leader and the various digital marketing methods are like its team members. First, you need to create quality and relevant content for your niche and publish that on your blog or website which helps to build trust and engage the audience with the brand. It also helps to educate the customers about the industry and your product or services.

•Social Media: Next, you can share the content on social media platforms, which will bring traffic to your blog/website. Nowadays, social media has become one of the most significant digital marketing channels. There’s a market of billions of people across various platforms.

•SEO: It is one of the most powerful tools in online marketing. People nowadays use Google to search for almost everything, so in order to boost your blog/website’s online presence, you need to do SEO. Doing on-page SEO would be enough to bring huge targeted traffic from search engines to your blog/website.

•Email: It is the best marketing tool available in online marketing to communicate directly to your customers. When you have a good number of audiences on your blog/website, you can create an opt-in form for your readers and reach out to them for asking to subscribe to your email list. You can send out the information about new content and come up with a follow-up to remind them about the products or services they want to buy.

•Paid Ads: Investing in Paid ads will act as a catalyst to speed up the entire process. It will help you to drive more traffic to your blog/website and also helps in building your email list.

Finally, the outcome of all these methods of integrated digital marketing will help to bring sales by converting your leads into customers.

In the next section, you will get to know about personal branding and how you can build your own personal brand in your niche.

Personal Branding

People often talk about branding. By the word branding, we mainly know about the business brand — which mainly refers to the brand value of the organization. We looked for the brand value of the product or service before we like to buy anything from the market.

But we don’t think much about having our own personal brand. In this current scenario of digital marketing, we need to build our own personal branding in order to stay forever on the internet. Now personal branding is considered most important than ever.

So what is Personal Branding?

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. Your personal brand helps you to differentiate yourself from your competitors.

People want to hear from people, not from brands. A personal brand can give rise to many brands with the help of his/her influence in the market and become a brand ambassador for the companies that they run.

Elon Musk, Bill Gates, Steve Jobs, Cristiano Ronaldo, Lionel Messi, and Virat Kohli, etc. are a few examples of personal brands, who make their brand name greater than their respective field of work.

This is a blueprint known as the ‘MassTrust Blueprint’, shared by my digital mentor, Digital Deepak, to show how to build a personal brand.

· In order to develop your personal branding, you need to learn a new skill through concepts, facts, and procedures.

· After that implement those skills in the practical world which will give you a better understanding.

· Now as an aspiring digital marketer, you need to start writing blogs and creating content, about the experience you have gathered while working. Writing will make you understand better and also helps you in building your own personal brand.

· Now after you build your own personal brand through your blog, you can start consulting other businesses.

· In the next step, you can become a mentor to others who want to become like you. Mentoring will help you to enhance your skills and it will further strengthen your personal brand value.

· You can also start your own startup with the help of your personal branding. Start your own product or service business on the basis of understanding that you have developed about the market through your own skills.

Communication Skill

In digital marketing, the importance of communication skills is very important because this field requires you to work with teams, share your ideas, and convince people into buying your products or services.

Here are a few important areas where good communication is required:

• Initial branding
• Establishing brand awareness
• Educating customers
• Facilitating conversions
• Cultivating customer relationships

 Good communication requires for good marketing. Good communication doesn’t need sophisticated English. Good communication doesn’t care about vocabulary or grammar. The most important thing is to transfer our thoughts to the customer effectively.

In order to build and improve customer communication skills we need to be aware of our positive body language while communicating, we need to be effective listeners, we need to use correct and professional language and also we need to be transparent and honest about the information of the product or services we are offering to the customer.

In order to improve our communication skills, we need to write a lot. The more we write, the better we can write and also speak. Writing slows down our thought processes and also gives us clarity.

 

Conclusion

Marketing is a never-ending process. In this article, we have learned the technique of how to do digital marketing of products or services, and reach your targeted audiences in order to generate revenue. We need to market our products or services with the right offer at the right time to the right audience.