This article is about my understanding of why Changing Landscape of Marketing is the Secret Ingredient?
This will give an insight into the fundamental laws and the new-age technology of marketing.
This article will be helpful for students, professionals, entrepreneurs, businesses, etc. It can also provide value to someone who is willing to scale their business through digital marketing.
To dive deep into this topic let’s first understand the meaning.
Philips Kotler has defined marketing as “the science and arts of exploring, creating and delivering value to satisfy the needs of a target market at a profit”.
The changing pace from ancient time to the digital age is so rapid that the capacity of the change now becomes a competitive advantage.
There is constant change and evolution in marketing and the same is depicted in the infographic.
This article will focus on the below-highlighted topics :
- The Fundamentals Of Marketing.
- Digital Marketing vs. Traditional marketing.
- CATT Marketing Funnel.
- Integrated Digital Marketing.
- Personal Branding – MassTrust Blueprint.
The Fundamentals of Marketing
The basic fundamentals of marketing are about science and not about creativity or innovation.
Understanding the needs and wants of the customer is the first and foremost thing any marketer should do.
The products and services are developed only after knowing the requirements of the customers.
This clearly states that Marketing starts before the creation of the products.
Marketing is all about sending the right message to the right customers at the right time. It is not just about selling but maintaining the relationship with the existing customers and keeping them happy so that they become lifetime customers.
“The aim of marketing is to make selling superfluous.” – Peter Drucker.
Marketing is a game of perceptions where good and valuable products sell themselves. This focuses to make the selling natural by understanding the customer and market very well.
“Communication must be HOT: honest, open, and two-way.”-Dan Oswald.
Good marketing is all about good communication and therefore the importance of communication is very significant. Often people confuse the term Communication and consider it to be a very sophisticated and hi-end fancy thing.
In layman’s language, it is the simple act of transferring information from one place, person, or group to another.
Digital Marketing vs. Traditional Marketing.
2020 is an era of technology with a very fast-changing world. Everything around the globe is changing and the same is the case with marketing.
The digital world is mushrooming in almost all sectors. But the basic fundamentals of marketing remain the same.
The difference between traditional and digital is the medium through which the audience receives the message.
Traditional marketing includes Print media (like newspaper and magazine), Broadcast media (like TV and radio ads), Direct Mail, and Telemarketing while Digital Marketing uses Websites, Social networking sites, Content Marketing, Video marketing, etc.
Traditional is a closed system with very less transparency while digital is an open system with a lot of transparency. The reach and accessibility of traditional are very limited while digital has a global reach with diverse accessibility.
Traditional is very expensive with less return on investment and is not measurable while Digital is less expensive with a high return on investment and can be measured.
CATT Marketing Funnel and Framework
The marketing funnel is the journey of your customer/clients with you.
This is a journey when someone discovers your business all the way to purchasing your products. This funnel helps in driving greater sales, strong brand awareness, and more loyalty.
The formula is Wealth = n^CATT
n stands for Niche
C stands for Content
A stands for Attention
T stands for Trust
T stands for Transaction
The success and wealth depend upon the niche you have selected. The formula represents “n” power CATT, bcoz the effectiveness of CATT will determine the amount of wealth you make.
Therefore the niche plays a pivotal role and hence the niche selection should be done properly. Niche selection is done mainly by keeping 3 things in mind that is talent, passion, and market.
CONTENT: Content is the king. Make Content that provides value and helps in drawing attention from your selected niche. Good content can be in any form like blog posts, ebooks, videos, articles, etc.
ATTENTION: Once the content is created, your next step is to draw the attention or drive the traffic to your content using SEO, Search Media, Paid Ads, Referrals, and so forth.
TRUST: After creating good content and driving enough traffic to your content. The next most important step is to develop the trust of the traffic.
Over the period of time, this trust is going to play a very important role. The trust can be built with your audiences with the help of automation, tripwires, and retargeting.
TRANSACTION: The last and ultimate goal is to convert your lead into customers by transacting with them. This CATT funnel and framework is so effective that if it is done properly that it generates natural sales.
The Integrated Digital Marketing
Integrated Digital Marketing is the integration of various marketing strategies and tools for an effective approach for your business. The main reason for implementing integrated functions is to have a huge impact and create a more influential online presence rather than having an individual impact.
Some of the digital components are mentioned below:
Search Engine Optimization (SEO) is a process or technique of increasing the quality and quantity of traffic to a website through organic search engine results. SEO mainly targets unpaid traffic instead of paid traffic.
Search Engine Marketing (SEM) is one of the effective ways to promote and grow your business.
Social Media Optimization (SOM ) is the use of social media to manage and grow a business. It can be used to increase the awareness of the products and services.
Email Marketing is the process of sending a commercial message to a group of people using email.
Content Marketing is the process of planning, creating, distributing, and sharing content to reach your target customers.
Personal Branding -MassTrust Blueprint
Personal Branding is the act of marketing people, products, and their business as a brand. How to brand yourself is personal branding. Personal branding is the blend of the personality, skills, and experience that your followers want to see.
“The best known will always beat the best”.
If you are an expert at something and if the world does not know about you, then it’s of no use. It is not enough to be good at anything, people should know that you are good at something. So portraying yourself is very important and that is where personal branding is very important.
Evolution of Personal Brand: The journey of a Personal brand starts with learning and ends up with Startup.
Learn– You should learn a new skill or you can hone the existing skills with the help of concepts, facts, and procedures.
Work– After learning you need to work on the new skill and start taking action on it. This can be done by starting working and implementing the concept for getting a better understanding. You can take up a full-time job, a part-time job, freelance, or can start your own work.
Blog- Start writing about whatever you have learned and experienced. It can be in any form like Blogspot, articles, etc. This helps in developing your personal brand.
Consult– Once you are done with the work and blogging start consulting people. You can do one to one or one to many consultations. This is a better approach when compared to freelancing or working for them.
Mentor-You can start mentoring only after you have gone through the above-mentioned four stages. You need to learn first, then work on it by implementing it in the real world, then write about it and then consult, and then only you can mentor somebody. Mentoring helps you to scale your understanding to a new level.
Start up-Finally you can go for a start-up. You can do this by the kind of understanding you have developed while going through this journey of developing your own personal brand.
This is how the evolution of the personal brand works and the framework which is developed for this is named as MASSTRUST blueprint.
In this article, you have learned about the fundamentals of laws in tandem with their communication. Insight of funnel along with the integrated digital strategy was also discussed.
This write-up is a part of the Digital Deepak Internship Program and I consider this program as one of the best. This is the kind of internship which follows a pedagogy which is learning by doing where you are forced to take action.
If you are also willing to be a part of this golden opportunity, you can click the link below and apply for the Internship program.
You need to be updated with the latest changes and technology and this is the secret ingredient.
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