Are your marketing basics not up to the mark!! Still, confuse with Marketing terms? Planning to start a Digital marketing learning platform. So this article is for you.
FUNDAMENTAL OF MARKETING
Marketing refers to an activity to be undertaken in buying and selling of products and services. It is nothing just understanding the product better for the sale of a product to the right customer at right time.
You would probably listen to the word Selling and saw people mixing this word with marketing. Marketing is a broader term that includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company. It is a longer-term which proceeds to end after-sales service also. Hence, it means to the end.
- Marketing starts before creating the product, it’s all about planning which every entrepreneur takes while studying the market and then launching the product in the market.
- The purpose of the marketing is to build the brand of the product and attain good goodwill in the market among the competitors.
- Marketing is a game of perception. Product is noted in reality in the market. Never let marketing be more important than your product. If your product states some value into it in terms of quality, price it will surely sell itself.
- A great product will convert your customer into a brand ambassador. The conversation rate of sales would multiply as compared to other sources. Therefore, word of mouth can be the best channel to market.
- Advertising, selling, branding, copyright, feedback service are part of marketing.
- Marketing is a mixture of 4 P’S — PRODUCT, PRICE, PLACE, and PROMOTION. They all are interrelated to each other.
TRADITIONAL MARKETING VS DIGITAL MARKETING
What is the difference between digital marketing vs traditional marketing? How do they influence the choice of customer they are targeting in marketing? Which product to market in which market? Which one is reliable and economical friendly in today’s world?
So, here is everything you need to know.
Digital marketing
Put it simply, It is marketing that is done through digital channels such as websites, social media platforms as a tool for marketing communication.
If you are a socialized person who is active on social media, you would probably see popup streaming on your screens either when you visit any website like amazon etcetera. That is digital marketing.
Traditional Marketing
Traditional marketing is the oldest concept, including marketing through traditional channels such as billboards, leaflets, printing media etcetera.
ANY DIFFERENCE AMONG BOTH?
A huge difference along with the pros and cons of it.
Target audience-
- Traditional marketing — Reach is limited and restricted such as the local market coverage.
- Digital marketing — Unlimited coverage to a world extend.
Marketing cost-
- Traditional marketing- It is expensive as it involves printing radio, newspaper ads which would cost more for the company.
- Digital marketing- It is less expensive than traditional marketing, as everyone is online and the use of social websites does not cost even a penny.
Survey highlights reels
- Radio has a reach of 65% of the Indian population.
- 49% of users say they use Google to discover or find new products and items. (Source: https://www.hubspot.com/marketing-statistics)
- In this pandemic COVID-19 situation, more and more businesses are exploring advancements like Facebook and Instagram live to build connections through their target audience on online platforms. Similar engagement platforms such as Zoom and Google have picked up their popularity for both internal and external strategic business discussions.
THE CATT MARKETING FUNNEL AND FRAMEWORK
Wealth = N^CATT
- First, an important step is to select the N- niche, meaning specific and appropriate audience to target with. Choose the product and select the particular market to focus on.
- The second step to concentrate is to build the website and start creating useful C-content for your business in the form of blog posts, videos, pictures, a live webinar.
- Aiming at driving the A-attention of the audience that is getting the traffic on your content through social media, paid ads, referrals, SEO.
- Building T-trust is very important with your audience by providing content through email marketing, software etcetera. If sellers sell any product, then feedback service is mandatory.
- Getting a T-transaction done is obviously the last step of this framework after building trust. Now, your sale transaction would convert into leads as you can see in Apple iPhones.
Integrated Digital marketing
It is an integration of marketing multiple strategies to form a cohesive online approach for a business to function. It entails with following components such as-
- Social media marketing
- Content marketing
- Search engine marketing
- Email marketing
A lot of people just do email marketing, collect the emails, and process to integrate about the products and services but fail.
Some do content writing, beautifully frame their content, and publish on to their blogs and website and still fail.
They run Facebook paid ads, google ads just to come to know that nothing works fine.
So, they should try the integrated marketing technique in such a way it becomes a machine. Rather than focusing on one platform, try combining it and integrating your leverage on each platform with one another and try to generate value.
The power of personal branding
The best known will beat the best- Digital Deepak
Why it is important to learn personal branding
The reason is simple !! if we don’t motivate and plan our career properly, how we would proceed further in any other work whether it is business, job etcetera. Be the 2.0 version of yourself.
Gone are the days when entrepreneurs hired us while looking out our CV’s now recruiters need branded products. You know who these brands can be? that is — YOU
I call it a PERSONAL BRAND
Personal branding
- Every plant grows with a seed of learning. Embrace the skill of learning into you. Learn at every step. Grap new skills through concepts, facts, and procedures.
- Put the learning skill into action. I call it Work. Implementing these things into practical work and eventually, will give u a better understanding.
- Write about what you learned and experience through your work in the form of a blog. When you write you understand better. Hence, you start building a personal brand.
- Naturally, when personal branding compiles of learning, collecting experiences, writing a blog and it gets sharpened. Then, start consulting other businesses rather than working for them.
- Mentor-ship is a beautiful skill that one can develop. Mentor others who want to become like you. Mentoring will help your scale your understanding to a whole new level.
- Finally, You can start your own product or services with the understanding that you have developed about the market, the problem, and your own skills.
In marketing or Digital marketing, the basic concept remains the same only the medium of marketing change. During Covid digital marketing come up with new hope among entrepreneurs, so by implementing the above marketing basic concepts practically you also become an expert in digital marketing.
Soon come up with new content, you can also put a comment below on which topic you want content. Also if you want to know about the role of digital marketing in the education industry you read the blog here
I hope you like my content, Thank you for your patience in reading.
