Want to know more about Marketing? Let’s understand with simple terms.
Marketing has its own world and it connects to us from each and every moment in our day-to-day life.
If you want to learn marketing and have some questions. Like, I want to know more about Marketing? Is marketing good to learn? What are the marketing fundamentals? Etc. This blog will be covering the following topics today,
- The fundamentals of marketing
- Digital Marketing vs. Traditional marketing
- CATT Marketing Funnel
- Integrated Digital Marketing
- Personal Branding: MassTrust Blueprint
If you are reading this right now, you will get tremendous clarity on the marketing topic by the end of this blog. Let’s dive into it.
The fundamentals of Marketing
What is marketing — “Marketing refers to activities a company undertakes to promote the buying or selling of a product, service, or good. It is one of the primary components of business management and commerce. Marketers can direct their product to other businesses or directly to consumers.” — Source: Wikipedia
In any management course, we learn about 4P’s — Product, Price, Promotion, and Place. It always starts before creating the product. Marketing is sending the right message to the right person at right time. It’s mostly keeping an existing customer happy by communicating with them so that they can remain customers for life. It’s building trust with your customer. Marketing is a tool to build a brand, and create an image in consumers’ minds. Marketing is a game of perception. It creates a good perception of your product. A Strong brand always pays you more. It converts your customers into a brand ambassador.
Digital Marketing vs. Traditional marketing.
What is Traditional Marketing?
It is old-fashioned marketing that helps to reach out to our mix-targeted audience with various offline methods such as
- Print media
- Ads in related weekly magazines.
- Flyers and billboards by the roads and highways, etc.
Traditional marketing is not sufficient in today’s market. More than 50% of users are tech-savvy. They are used to online shopping. Digital marketing plays an important role to get online users.
Digital marketing is the act of promoting and selling products and services by leveraging online marketing tactics such as social media marketing, search marketing, and email marketing. When you get down to it, digital marketing is simply marketing. — “Wikipedia”
Digital marketing includes platforms like:
- Social media like Facebook, Twitter, or Instagram
- Business networking sites like LinkedIn.
- Promotional ads via emails.
- Paid pop-ups.
- Clickable links
Online marketing is more versatile than traditional marketing, though all the types look similar.
Advantages of Digital Marketing:
1. Cost Reduction: Online advertising is mostly used by young entrepreneurs who can afford right out of some saved up money.
2. Quick Results and Reports: In online ads, you can see what the reach of the ad is, how many users clicked and visited your site, conversion rate, active users, and so on. You can easily calculate your profit loss by using these reports.
3. Development of Brand: You can develop your brand image and value by the correct usage of social media and similar platforms. You can create worthy content and create brand awareness.
4. Higher Exposure: The Internet made the whole world a Global village. You will expose your brand to the world. The complete world can be your target customer.
5. Interaction with customers: Digital marketing allows you to engage your audience. You can chat and discuss a lot about your brand or Company with the actual audience immediately. You can solve any client’s query and your client stick to you as a result of customer satisfaction.
6. Less Interruption: If you come across any online ad or any ad in between videos you can simply ‘Skip the ads’. There is no compulsion on the user to watch that ad. In traditional marketing, you can’t get newspapers or magazines without ads.
7. Rebuilding Strategy: In Digital marketing you get real-time reports and results. You can easily figure out that what is going well and what is not. Accordingly, you can change your strategy or redefine the existing one.
CATT Marketing Funnel
The formula of the CATT Marketing funnel is, Wealth = n^CATT
n = Niche. Your success depends on the niche you choose. Narrower your niche the more successful you are! When you find out your niche and micro-niche then you can find out your target customer. Niche selection is a process of finding out the union of your passion, talent, and market. If you don’t have passion, you can’t sustain it for a long time. If you don’t have talent then you struggle to create creative content and product. If you don’t have a market then you will become a struggler to monetize your talent.
C = Content. Attract people from your Niche. Content can have blog posts, videos, posts, lead magnets, live webinars, ads, emails, etc. Good content attracts people.
A = Attention. You have to drive attention to your products. You can use SEO engines, social media like Facebook, Instagram, etc. Paid ads and referrals are used to grab user’s attention.
T = Trust. Build trust with your target audience with tripwires, marketing automation, and retargeting.
T = Transaction. Convert leads to consumers with natural sales methods.
Integrated Digital Marketing
Integrated Digital Marketing is the idea of connecting to customers. It is a well-planned and well-defined marketing plan. It includes creating and preserve your online presence. It’s a blend of all your marketing strategies. You will use your strategies with different channels.
The List of those channels are,
- Email Marketing
2. Paid Ads
3. Content Marketing
5. Social Media
Email marketing is not an exact branch of marketing but it used to collect leads and subscribers and send them marketing emails. This boosts the sale and helps to connect with customers on regular basis. Paid ads are showing up on web pages in search of special keywords. Those are pop-ups, scrolling content, showing some ads in sidebars of the web pages. Content marketing is mostly part of blogging. Blogs are used for value addition to customer’s life and create brand awareness. Social Media is one of the channels when you use it properly then they give you more returns than any other channel. SEO is Search Engine Optimization. Investing in SEO adds more sales and it gives long-term returns. If you use highly paid keywords in your product description or in the title section then you will get more traffic on your web pages and ultimately you will win the race.
Flowchart of Integrated Digital Marketing:
Content is at the center of Integrated Digital Marketing. When your content is strong then it helps all other channels very well. To make content strong you supposed to add strong keywords, which have a personal touch, contain empathy, and a to-the-point message. When your paid ads have strong content then it’s easy to convert your target customer to potential clients. Email marketing’s success completely depends on content. SEO and Social media have two-way benefits. They both used to make strong content and vice versa.
Every time strong content helps to convert your leads to customers.
Personal Branding: MassTrust Blueprint
Branding is mostly the marketing of your product, company, or yourself. A Personal brand is priceless, you can’t monetize it. Any brand is known today is because of its personal touch.
Let’s dive into MassTrust Blueprint.
1. Learn: Learn new skills through concepts and facts, remember them and practice the method.
2. Work: Putting your newly learned skill into work. Go from practice to implementation is necessary. Real-world implementation gives you a better understanding.
3. Blog: Write about what you learned and experimented with your work. When you convert them into writing then you will understand it better.
4. Consult: You have skills, experience, and a better understanding of the subject. You can start consulting for business rather than working for them
5. Mentor: Mentoring adds new business cases, new clients, new problems, and new solutions. Mentoring helps you scale your understanding to a whole new level.
6. Startup: You can start your own product or business with the understanding that you have developed about the market, the problems, and your own skills.
This MassTrust building is a continuous process. It evolves every time. When you keep going with this framework you will evolve your personal brand.
Now, we know the basics of marketing and different aspects of digital marketing too, we are on the same point that Digital Marketing has an upper hand. Traditional Marketing has its own advantages. So, blending traditional and digital marketing will help us to achieve our target soon.
If you have read this blog post until this point, I am sure that you got new insight of marketing. Please comment and let me know about your thoughts and learnings.