What needs to focus on Digital Marketing?
This article is about the Laws of Marketing and my understanding of Digital Marketing so Far.
Marketing refers to activities a company undertakes to promote the buying or selling of a product or service.
Currently, everyone has been shifted to Digital especially in the current pandemic time.
Hence Digital marketing is very essential for any business and brand awareness. During the lockdown, I got to know about Digital Marketing By Mr. Deepak Kanakaraju and joined his internship Program. So here I am going to summarize my understanding of the Law of Marketing.
Given below is my attempt at re-explanation of the law of marketing:
“Marketing is the science of convincing us that What you Get Is What You Want” — — John Carter
Marketing is based on science, not on creativity. Marketing starts before creating the product. It starts with understanding the customer than creating a product that fits.
Marketing has always been about connecting with your audience in the right place and at the right time. And today that means you need to meet them where they are already spending time on.
While traditional marketing might exist in print ads, phone communication, or physical marketing and Digital Marketing can occur electronically and online.
One should also understand that Digital Marketing is more about marketing than digital. Digital is just a medium through which marketing gets done. There are high chances to expand business in a span of time by anybody if they understand the correct insights of Digital Marketing.
Do you know the Fundamentals of Marketing?
Marketing is complex. The law of marketing definition changes person to person as per their perspective regarding marketing just like the Law of attraction. Law is singular but the way people understand it is variate.
“If you don’t understand the customer and you don’t understand the marketing focus of a business. You are going to be missing a big part of the understanding of the overall business” — — Prof. Khan said
For all its complexity, at its core, marketing revolves around a few things:
Product:
Product refers to the products and services offered by a business. Product decisions include function, packaging, appearance, warranty, quality, etc.
Customers need to understand the features, advantages, and benefits that can be enjoyed by buying goods or services. When thinking about a product, consider the key features, benefits, and the needs and wants of customers.
Price:
Price refers to the pricing strategy for products and services and how it will affect customers. Pricing decisions do not include just the selling price but also discount, payment arrangements, credit terms, and any price-matching service offered.
When determining a pricing strategy, it is important to consider the business’s position in the current marketplace.
Promotion:
Promotion refers to the activities that make the business more known to customers. It includes items such as sponsorships, advertising, and public relations activities.
Since promotion costs can be substantial, it is essential to conduct a break-even analysis when making a promotion decision.
Place:
Place refers to whether the product/service of the business is seen, made, sold, or distributed. In essence, Place decisions are associated with distribution channels and ways of getting the product to targeted key customers.
It is important to consider how accessible the product or service is and ensure that customers can easily find you. The product or service must be available to customers at the right time, at the right place, and in the right quantity.
Things that should be considered under fundamental of Marketing:-
Communication skill:- Good marketing is all about good marketing. Join a conversation in people’s minds and understand your target audience very well.
The Basics of Global Economics: — Every entrepreneur should know about Global Economics and make decisions in their business based on economics. A country’s economy goes up as the average age of the country goes up. E.g — India is in a developing stage, hence economics will go up here in the upcoming days.
Debts create money: — It’s very important as we all use money. We think money is money. We end up making money by doing something then we spend that money. Sometimes we take a loan from a bank then spend that money on buying luxuries or something similar like that. It is like a cycle that goes through everybody and which way only Debt creates money in the economy.
Digital Marketing vs. Traditional marketing
what’s the difference between the two and which one should you use? Selecting the right marketing type is an age-old question on every marketer’s mind. Here’s everything you need to know.
The main difference between digital and traditional marketing is the medium through which an audience encounters a marketing message. While traditional marketing uses traditional media like magazines and newspapers, digital marketing uses digital media, such as social media or websites.
Of course, traditional marketing doesn’t mean it’s old fashioned. Traditional marketing still plays an important role in people’s lives with the ever-growing need to step out of the digital world.
Please have a look at the different pros and cons of both Traditional Marketing and Digital Marketing as given below:
The moral of the story: both digital and traditional marketing can work for you, as long as you know what your audience wants.
CATT Marketing Funnel
CATT is a sales funnel that will help you to build the mass trust of your customers with the help of Digital Marketing.
CATT stands for Content — Attention — Trust — Transaction
CONTENT: Content is the core of digital marketing, when you have a great piece of content then you don’t have to struggle to spend much for marketing. It will itself bring you organic traffic depending on the quality of the content. Content can be anything whether it is a blog, YouTube Videos, Posters, landing pages, and many more.
ATTENTION: It is important to bring the attention of your target customer to your content after creating it; organic traffic does not come into play much for most of the content. You have to spend a little amount of money to bring the attention of the content in a huge amount but it’s worth it depending upon the Return on Investment. There are different ways to bring attention to your content, some of them are:
- Paid Ads like Google Ads, Bing Ads, Facebook Ads, LinkedIn Ads, and many more.
- SEO help to bring organic traffic by improving the rankings of your page. Investment is not required in SEO.
- Viral marketing is a kind of marketing through another platform that already has a huge amount of traffic beforehand.
- Any other way of marketing can also be used to bring the attention of your target audience.
TRUST: After collecting a huge amount of traffic of your content, you can generate leads from this traffic by building trust. Trust can be built by repetitive engagements, hook the user, and social proof.
- Repetitive engagements can be built by creating regular content on different digital channels. Those contents should bring engagements from your target customers.
- Hook the user through subscribing to email lists, YouTube channels; retargeting the lead, or following your official social media platforms.
- Social Proof of results that will benefit the customers is another way to build the trust of your target customers.
TRANSACTION: Even if the target customers trust your business, they might not buy your product or service. You have to offer something, which is related to your niche and then this might lead to transactions. Another way is to persuade the leads in order to make transactions and you can persuade them through different channels like a sales page, webinars, a sales video, etc.
What Is Integrated Digital Marketing?
Integrated digital marketing is, as it sounds, the integration of multiple marketing strategies to form a cohesive online approach for your business. Here’s what it typically entails:
- web development and design
- search engine optimization (SEO) and search engine marketing (SEM)
- content marketing
- social media marketing
- local listings management
- paid advertising (or pay-per-click advertising) campaigns
The idea behind integrated digital marketing is that, while each individual strategy doesn’t have a huge impact on its own, when used in conjunction, you can create a more influential online presence.
And it’s not just some passing fad. It’s pretty much the status quo when it comes to tackling the digital realm. Of course, there are still one-off campaigns out there, but most agencies are moving toward integrated solutions, as a well-rounded marketing strategy provides better visibility and ROI for businesses online.
Personal Branding (Mass Trust Blueprint)
Let’s talk about the most important ingredient that lies at the heart of all your marketing efforts.
You are your greatest asset as a marketer and your relationship with your customers is the thread of connection to be cultivated at all stages of the buyer’s journey.
The technologies, software, and advertising channels we use as marketers will continue to evolve, but the core concepts of marketing are based on the timeless principles of human relationships.
It is an intrinsic human need to connect with others. But before you arrive at the stage of paying for a product or service, you need to be able to trust the person or brand.
So how can you earn this trust?
It can be earned with time, consistency, and delivering genuine value.
What are some things that you can do to improve your personal brand?
- Build on your communication skills.
- Know who you are and have a clear story.
- Personalize your marketing communication.
The truth is that we need to be in a constant state of evolution to improve our skill sets and expertise. There’s never a point in time where you can stop learning if you want to grow. Therefore, we need to develop a system by which we can keep challenging our growth curve.
The Mass Trust Blueprint captures the cycle of stages you can go through to do so.
- Begin with learning a new skill set.
- Put it to practice by working in the real world, as an employee or freelancer. Putting your learning to practice leads to a practical understanding.
- Blog about your experiences. Writing solidifies your learning and will help you to build your personal brand.
- Based on your experiences and knowledge, provide consultation in your field, and be paid to advise.
- Mentor others who are on a similar path as you. Teaching makes you delve deeper and scale your understanding.
- Build your own startup company.
Conclusion:
This article is one of the several assignments in the Digital Deepak Internship Program.
In the above article, we understood the fundamentals of marketing, learned how digital marketing works, How to build a personal brand and the importance of the CATT funnel, and integrated digital marketing strategies to build a successful business. I hope my guide in digital marketing was helpful to understand what digital marketing was all about.
Thank you for spare your valuable time to read this. Please share your thoughts about the same.