Yes, I would say.
Without following the law, how you could be the best digital marketing person. Are you buzzing out that how digital marketing related to law? It is the law of marketing, which I’m talking about.
Now you are getting me right? As a country, it is important to have certain laws to build a better society likewise some basic laws are applicable for marketing too. Those are simple yet powerful knowledge to learn. Here I’m going to give you brief insights on what are those laws and fundamentals of marketing. Firstly, learning the fundamentals right is the key to success. There is a saying “The most successful coaches on any level teach the fundamentals”, to be an expert there is no way of skipping that. These marketing basics not only helpful to digital marketers, but it is also the key learning element for the one who seeks to succeed on the field of marketing and business, be it digital or traditional methods.
*Set your financial Goals
“Begin with the end in mind”, to succeed in any field you should have the goals. It can be financial or personal development. To set your financial goals split the No. of customers vs the price of the product. Currently, I’m working in the sales field, every financial year there is a target to reach. We split that into monthly based on seasonal past sales and based on the number of customers I should get to attain that target. This way you can relate your financial goal for the business. For example, if you are planning to make a revenue of Rs.1Cr in one year and your price of the product is Rs.1000/- then you should get to sell 10,000 customers. For a month 834 customers should buy your product. For your better understanding refer to the image below.
*Law of Marketing
Marketing is the tool that helps to idealize the product or service in the consumer’s mind. It helps people to have a good perception of the product or service. So, understanding what your customers needs is the best thing to conceptualize the marketing theme and sometimes to create the product itself, with this you can create a positive impact about the product on customers mind. But never forget that marketing is the game of perceptions. Don’t let the marketing become more important than the product. If the product is low quality then initially you will get more customers but you will end up with an empty hand when people realize that the product is not worth it. Keep in mind that word-of-mouth marketing is the best marketing that gives the best return when it spreads positively.
In simple words, the purpose of marketing is to build a brand and position in consumer’s minds. For example, Maggi is one of the noodles brands, but earlier many of the people referred to noodles itself as the Maggi. Initially, Maggi was positioned as the Two-minutes noodles then the crisis in 2015, it is repositioning as the healthy noodles to consume.
*Build a strong Brand
A brand is the most influential thing on the consumer’s mind while buying any product. Often brand value affects the company’s revenue and the market share in the portfolio. This brand value is measured on the consumer’s awareness of the product or service and it can influence the consumer on how much he is going to spend for this product.
So, building a strong brand is the key to long period success. Choose your niche area rather than working on all things randomly. So, that, you will not lose control over the vision. In following up content, you will learn about how to select your niche. Be focus and choose to be the number one or only one in that category. Because people tend to remember the one or two when thinking of buying. Even though there are many E-commerce platforms in India, first thing comes to people mind is that Amazon or Flipkart. In long run, any market becomes a two-player market. A brand can be a name, symbol, logo, tagline, and a person that means to identify and create a perception with the consumer’s mind. Above all, a personal brand is the best element that influences consumers.
- Framework to build a personal brand
A personal brand is a leveraging marketing tool that could give an enormous advantage to the business. A personal brand influences the customers directly to build trust more even if they are new to the particular category. Few days before Elon musk just tweeted “Use Signal’, just in few minutes the share price of the Signal went skyrocket. Though Elon musk does not belong to an investor like Warren Buffet, his personal brand built massive trust among his followers. The same happened on Bitcoin. A personal brand can itself influence many brands created by the person. The downside of a personal brand is that you can not invest in and can’t be sold.
Here in below is the mass trust blueprint framework that helps you to make yourself a brand.
*Upskill your communication
Communication could be in any language based on your target audience. But whether are you able to transfer your thoughts properly is the important thing in communication. Since English is the Language to reach many audiences internationally, it is important to communicate effectively in English to reach out to many. To communicate better you should write a lot which leads to better language and as well as clarity in thoughts. Good communication is the key to good marketing. Example: In a recent viral ad of Cred they have well communicated their USP which is rewarding for proper repayment of credit card bills which is unusual compared to other fintech’s.
*Understand Traditional vs Digital Marketing
Choosing the marketing medium is the most important element of marketing. Based on the target audience medium should be preferred. If the product is generic like Home appliances then TV advertising is the best medium to reach a mass audience at a low cost.
Traditional marketing involves the medium like magazines, newspaper, and TV. Though this medium has a high level of audience under the roof, it is more like one way of communication. You are reaching out to all types of audiences with marketing messages is what traditional methods of marketing are flexible.
Now, Digital marketing is the platform where two-way communication can happen frequently by use of digital mediums like Social media and websites. You can engage very easily with direct consumers and get a review of the product or service which also can be used for further marketing. Digital marketing serves you this leverage than traditional methods.
*Direct Response marketing:
It is a kind of advertising which leads the prospective customer to take a specific action. In all forms of advertising, you may encounter this, be it TV commercials and print media with contact numbers, websites, and online ads with links to buy the product.
In many branding campaigns by marketing executives or ad agencies, you don’t get specific and measurable results like how much your brand awareness increased. But through direct response marketing, you will be able to track the measurable attributes and get a better result.
*CATT Marketing Funnel
This framework is based upon marketing success stories. It is a continuous process that revolves around wealth. By root causing the process you can easily understand that, to get more income and profit, you should get more transactions in terms of sales. To happen more sales transactions your customer should trust you and build trust their attention on your good qualitative content should be worked. This way a natural sales process will happen.
- (n)Niche: Choosing your niche is the first part of this framework and the right niche selection is half a success. Your niche is the wealth multiplying factor in this framework. Your success and wealth depend on the niche that you are going to select. Now you might doubt how I could choose my right niche? Work on the below concept.
Your niche should be a combination of your talent in that area, passion about that, and more importantly, it should have the potential market. Without potential clients to consume it, then it is useless.
- (C)Content: Create useful content that attracts more people to your niche. Content can be a blog, posts, videos, and live webinars, etc.
- (A)Attention: Use various marketing tools like SEO, social media, paid ads, and all types of direct response marketing to get the attention of your content. More attention more the traffic to your content.
- (T)Trust: Now those audiences should trust you by all means that your content is worth it.
- (T)Transaction: Convert these leads to your customers. In this way, the process will follow the natural sales method to get more prospects continuously.
*Integrated Digital Marketing
Integrated digital marketing is another powerful framework in that each element complements another. Though each element has its advantages, the combination of all elements gives an exponential result. Some of the common digital marketing methods are,
- Search Engine Marketing- In simple, search engine marketing is Pay-Per-Click. It is a more profitable and powerful tool that helps the marketer to connect with the prospects who already in need and search for it. For example, if someone is searching for a mobile phone to buy then the ad is only shown to him and it is charged when the prospect clicks on it.
- Search Engine Optimization- Since the keywords are of high value, SEO emerged as an organic method of attracting traffic. SEO targets unpaid traffic rather than direct or paid traffic. If someone searches for a mobile phone then the search engine ensures that your website appears high on the list.
- Email Marketing- Email marketing can be a stand-alone effective marketing method. The objective of Email marketing is to collect leads and subscribers in the form of mail ID enrollment and send marketing messages to engage with them. It is effective until adds value to them.
- Social Media Marketing- Though social media like Facebook and Instagram are widely spread and attracting more traffic, the conversion ratio is very smaller than other platforms. But, if it is channelized in a good manner then it will bring many more intangible benefits than other platforms.
- Digital Display Marketing- With online usage growing enormously these digital display marketing also plays a vital role. Sometimes it attracts the interest of the viewer until it becomes a distraction.
- Content Marketing- It is basically an inbound marketing tactic that attracts more customers and prospects to your page by the good quality content. But, content marketing won’t work separately, it should be collaborated with some other digital marketing methods to get results.
The above picture shows the process flow of Integrated digital marketing. Each element serves you a unique function. By combining with another it strengthens the process like a foolproof mechanism.
As I stated initially, without learning the fundamentals you can’t be the expert on it. These insights help you to be a better digital marketer. Digital marketing is a huge ocean of learning platforms. The above described are some drops of that, and each topic itself a wide platform to channelize yourself as the best digital marketer. Hope you have enjoyed learning it.