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What is marketing?

Marketing is a concept of promoting a product or service and build the customer experience to increase sales of a company, organization, or agency. It is a process of creating an effective marketing strategy and attracting target people to sell the product/service. Marketing is mainly concerned with the quality of the product or service. The major aspects of marketing are Advertisement, Branding, and Sales. The two important segments of marketing are business to business (B2B) marketing and business to consumer (B2C) marketing.

What are we going to discuss?

Why learn and master marketing?

 Why should digital marketers learn marketing?

Strategies of Marketing

 How to build a strong brand?

 Why Learn and master marketing

 The Importance of Communication Skills

Global economics and marketing

 Understanding Indian Economics

Digital vs. Traditional marketing

Direct Response Marketing

 The CATT Funnel

Integrated Digital Marketing  

The Power of Personal Branding

Why learn and master marketing strategy?

Marketing education has a long shelf life because it is rooted in human psychology and understanding the market. It is a subject alive for hundreds of years and it will be alive for hundreds of years in the future. The money that you have invested to learn marketing has will have a long life.

Marketing is the most valuable investment in a business because it gives direct returns. Every else like production, manufacturing, HR, accounting, the administration is an expense that doesn’t give immediate ROI. You need to spend a lot to set up a company. Whatever you spent is not going to come back immediately. But once you have spent all the money with everything possible inside a company.

Marketing is the last investment that you will make and the money that you spend on marketing will have an immediate ROI (Return on Investment).

Marketing cannot be outsourced completely to a marketing agency. The founder should be a marketer. The head of a business should learn the fundamentals of marketing. So he/she can create the strategy accordingly. Then he can hire people for execution. He cannot do business without understanding marketing. If you know how to market and sell, you have a safe career. You can sell your products or others’ company products or work as an affiliate.

Why should digital marketers learn marketing strategy?

Marketing Strategies Branding

Digital Marketing is more about marketing than digital. Digital is a medium (Internet) which through marketing is done. Digital Marketing is done by using digital devices such as computers, mobile phones, tablets, and other digital media to promote products and services. So, it is an essential subject to learn digital marketers about marketing. This article refers more to marketing and its strategies that need to know every digital marketer.

Various Marketing Strategies

  • Marketing is based on science, not on creativity. Marketing starts before creating the product. It starts with understanding the customer and needs of the customer that leads to creating a product that fits.
  • Design a product based on the customer needs
  • Marketing understands your customer so well even before you create a product.
  • If you develop a product based on customer needs, then you don’t need to use marketing to sell it. It will start selling itself. In that way marketing is called as science. It’s not something like you come up with a creative idea to sell a product or service that already exists.
  • Marketing is about sending the right message to the right person, at the right time.
  • Whenever we send a message, it has to be a right message; it has to reach the right person. So, that person feels that I am talking to the owner directly and it has to reach at the right time.
  • Marketing is not just about selling. It is also about keeping an existing customer happy by communicating with them. So, that they can remain a customer for life.
  • Some people do marketing until the transaction happen and later you do not market to them.
  • Marketing is going to be there even after they purchased the product or service from you. So that you can increase them to purchase more products in future.
  • If you are a marketing personal, you have to build trust with your target audience and you have to build trust with lot of audience. It is also called as Mass Trust.
  • Marketing is a means to an end. The purpose of marketing is to build a brand and capture a position in the minds of the consumers.
  • If someone uses marketing, it is necessary to use funnels, leads, conduct webinars, send emails to convince customers. A person who needs the product/service, the word of mouth you have is going to be biggest asset.
  • “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself; the aim of marketing is to make selling superfluous.”
  • Marketing is a game of perception. Product is rooted in reality. Never let marketing become more important than the product. A great product sells itself.
  • Marketing is a very dangerous skill to learn. Because some people used in unethical ways to sell a very low quality products.
  • When you develop a high quality product, then marketing is not needed. A great product will sell itself.
  • If you do not focus on the quality of the product and the product is a low quality then the marketing you have done already will become waste.
  • So if you do not have a good product or service marketing and good marketing just accelerate the death of your company. So always have your focus on the product or service that you are giving away.
  • Marketing is the quick starter for it once you build the momentum, you don’t need to put too much efforts on it.
  • Make sure you have a strong word of mouth component when comes to your product, service etc.
  • Advertising is one of the components of marketing. Lot of people confuse that it is the same as marketing. It is definitely not.
  • Copywriting is one of the components of marketing.
  • Sales is one of the components of marketing.
  • The world’s biggest shoe maker, Nike is a marketing company.
  • You need a great product, but marketing not just helps people discover the product, but also have a good perception about the product (ex. Apple).

How to build a strong brand?

Do not be the No.1, be the only one:

You do not need to be number one in a particular category. You can be the only one, this comes to category leadership. You need to go ahead and become No.1 in a particular category and you need to pick the category.

Choosing a category and becoming a leader in that category is the most important thing when it comes to branding:

Deciding where to compete is half your success.

Xerox, Google & Zoom are brand names that have become verbs.

If you cannot be a leader in a particular category, be a leader in a sub-category. Ex. BMW, Volvo, Mercedes-Benz.

Digital Deepak – No.1 Digital Marketer in India (Sub-category is the Country).

Marketing is a channel to build a strong brand. Once you build a strong brand and become No.1 in a category then people find it easy to remember. Then, the marketing cost & your customer acquisition cost will go down and people will just come to you. People remember only the No.1 or maximum 2, and every market becomes a 2 player market in the long run. Instead of competing with a big brand like Google, start with a small niche. Then you will be able to expand into wider and wider results.

Enter a competitive market, but have a unique angle.

A lot of people think that entering a market that is not competitive is going to be much easier and they are going to make profits in a non-competitive market. But it’s not true. When there is a market and there are a lot of customers available, the market is going to be very competitive in that category. If you want to make profits, I would recommend that you need to enter that market which is competitive.

The Importance of Communication Skills

Good marketing is all about good communication. If you have a good product/service that really useful for customers, you need to communicate well about your product/service then it sells itself easily.

Good communication doesn’t care about language vocabulary or grammar. You need to transfer your thoughts effectively.

You need to understand your target audience very well and join a conversation in their minds. It is a straight and useful communication skill that helps a lot in marketing. Interacting with the audience gives an insight that tells more about the audience and what is there in their mind.

Write a lot. The more you write, the better you can write and also speak. Writing shows down your thought process and gives you clarity. It makes you a better marketer, you tuber, blogger, etc.

Watch standup comedy shows and sitcoms (the office, Seinfeld, friends, etc.)

Think in English: We know English is the universal language, so we need to communicate more in English in the marketing field. Start thinking in English as you think in your native language. That helps you become a good speaker, communicator, and marketer.

Global Economics & Marketing

The Basics of Global Economics:

Every entrepreneur should learn about global economics. Make decisions in your business based on economics. It helps you make decisions in your business based on economics. A country’s economy goes up as the average age of the country goes up. Since the Indian market becoming big many people started focusing on India. So, you should focus on your country’s economics as well as global economics. India has the advantage of having people of young and average age. It leads to becoming India a developed country and the economy will go up.

Debt creates money. If you take a loan of 10 lakhs from a bank and deposit it in another bank, they can loan that money again. More debt in the economy = more cash (inflation). When people start repaying the debt the money supply shrinks, then people show more interest in debt more.

The recession creates strong companies and drives out the weak companies out of the market.

Understanding Indian Economics

Based on a market survey, there are 3 groups of people in India based on their walks of life. Let us discuss one of those groups which have the maximum target audience for digital marketers (eg. group 1).

  • There are 23 million households in group 1.
  • 110 million people.
  • Group1 has around 10-15 million Amazon Prime subscribers.
  • Group1 has around 20-25 million online shoppers.
  • Your target customers with buying power will be around 30-50 million until 2025.
  • Target customers: have credit card, computer, car, make more than 5 lakhs per year in Income.
  • All your target customers are concentrated in the top 10 cities of India.
  • Your target customers speak English.

Understanding Traditional vs. Digital Marketing

  • If a product is generic with a very wide targeting; TV ads can reach millions of people at a low cost (ex: Apple iPhone).
  • India has TVs in 197 million homes with an average of 4-5 members per household. TV has a reach of 800 million to 1 billion people. The reach of digital marketing is nowhere close to TV based on numbers alone (Source: Wikipedia).
  • Digital marketing is the best medium to reach the affluent English speaking population in India with spending power approximately 1 million users.
  • Radio has a reach of 65% of the Indian population (Source: Financial Express).
  • Newspaper has a reach of 465 million people (Source: Business-Standard).

Direct Response Marketing

These are all direct response ads and work very effectively.

Most people who run ads do not know if the ad works or not.

Marketing executives in big companies/ad agencies run branding companies that do not give specific and measurable results. An increase in “brand awareness” is not measurable.

Direct response is a type of marketing designed to elicit an instant response by encouraging prospects to take a specific action.” – marketingexecutive.com.

Ex: fill a form, asking for a response, download an E-book, and return with a name & Email ID. It is helpful to a marketer to track and analyze the conversions or sales. Also, he will know if the ads are working or not.

An ad in the newspaper with a phone number to call back is recommended.

A late-night infomercial with a phone number to call and order.

Ex: Gym equipment or weight loss products.

Asking for “order right now” and giving an offer will work effectively.

An ad leading to a landing page with a lead form.

A sales page with a product with a link to purchase the product.

The CATT Marketing Funnel

The CATT Marketing Funnel & Framework:

Wealth = n^CATT

[n] Niche: Your success & wealth depends on the niche you choose.

[C] Content: Create useful content that attracts people from your niche. Blog posts, videos, lead magnets, live webinars,s, etc.

[A] Attention: Drive attention (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.

Natural sales mean that you already have a target customer and he is looking for your product/service, they trust you.

Build trust with our target customer then sales will happen naturally. You don’t need to push it.

That’s why it is called as natural sales.

But the same time you need to have a sales call, sales webinar, sales page, and video sales letter. Then only you can convert leads into customers. This will create wealth for you. So, the entire CATT funnel determines that how much wealth you will create.

How to choose the right niche?

Talent, market, and passion; are essential factors that everyone should have while choosing a niche. You need a combination of all these 3. Then only you can choose the right niche. Be careful when you choose a niche for your service or business. It should be a long-term or permanent niche. So, you need to work for more time on selecting the right niche.

Integrated Digital Marketing

Integrated digital marketing is a well-structured marketing plan of finding the various digital channels that our target audience uses and creating a unique form of content to trace them. Integrated digital marketing increases brand awareness, conversions, and Return on Investment (ROI). To build authority for your brand, you need to create rich content and post it on social media regularly.

When you put the CATT funnel, it’s very linear and the way the CATT funnel is executed is through integrated digital marketing. CATT is a framework for how an individual user goes through in different stages. There is a niche, there is content attention, trust & transaction. Integrated digital marketing is how you execute it.

The Power of Personal Branding

The best known will always beat the best.

If you are good at something and the world doesn’t know about it, then nobody will go to hire you. It is not enough good at something, people should know that you are good at something. Then they will reach out to you.

People want to hear from people, not from brands.

Digital Deepak is a bigger brand today than many digital marketing companies because it’s personal & deep.

People remember him better and his internship program is well-known. People know about Digital Deepak because of personal branding.

Elon Musk has a bigger following than SpaceX and Tesla.

Downside: A personal brand cannot be invested in and it cannot be sold.Upside: A personal brand can give rise to many brands from his/her influence.

So that influence becomes very important.

A personal brand becomes an influencer and a brand ambassador for the companies that they run.

That’s why personal branding is powerful and cannot be ignored.

The Evaluation of a Personal Brand

Learn: Learn a new skill through concepts, facts, and procedures. Understand the concepts, remember the facts and practice the procedures. Without learning a skill you cannot build a personal brand anyway.

Work: Put your newfound skills to work. Go from practice to implementation. Implementing it in the real world will give you a better understanding. (work = job/freelancing/own projects). Whatever you learn, you need to implement it in the real world to make money. If you work, you will have authority in a particular subject.

Blog: Write about what you have learned and experienced through your work. When you write, you understand it better, but you will also start building your personal brand. Your post will be very high value when you go ahead and work hard. Content should be unique.

Consult: Now that you have a personal brand through your blog, have work experience, and have learned the fundamentals, start consulting other businesses instead of working for others. Instead of doing freelancing projects directly, or being an employee, you need to tell about yourself mentioning how you manage the projects.

Mentor: Mentor others who want to become like you. Mentoring will help you scale your understanding to a whole new level. Teaching or mentoring others will help you in expanding your skills. Mentoring is a whole new level of clarity. Go to the evaluation properly and mentor a group of people who want to learn from you.

Startup: Start your own product or service, or business with the understanding that you have developed about the market, the problem, and your own skills.

This article is an overview of marketing for digital marketers who want to make their own personal branding and looking for digital marketing as their career. It is necessary to know the fundamentals of marketing to get expected results. As experts say ‘content is king’ one should know the steps to write an article that brings traffic to your blog.