This article is a part of Digital Deepak Internship Program and will take you through my learning’s from it. What’s in it for you? Well if you would like to know WHY marketing & what are the fundamentals of marketing, then you should continue reading. If you want to know how to build a strong brand, then continue reading. Learn about basic difference between Traditional & Digital Marketing. I will be describing CATT Marketing Funnel by Deepak sir & how to achieve that with Integrated Digital Marketing and then the tips on how to make Crore rupees. This article will be helpful for every marketing professionals, new marketing learners, content writers, sales professionals, bloggers, freelancers, mentors, and entrepreneurs.
I know a lot of you would be anxious to know how to earn a Crore. But let me tell you, unless you go through the entire article, you will be confused even after knowing the secret. So hold on your horses and go step by step.
“Patience is bitter, but its fruit is sweet” -By Jean Jacques Rousseau
What I have learned about marketing over the years and with the Digital Deepak Internship Program, marketing means that you need to understand the problems, issues, needs of the consumers and then create a product that satisfies the needs and requirements of the consumer. And it doesn’t stops here. Once you have the product, it is very important to communicate right. If you are able to communicate the thoughts, intention, USP’s of the product well to your target audience, only then will a customer be enticed to buy your product. So now let us start with the most important question:” WHY MARKETING? ”
- Makes you learn to listen: Marketers are constantly listening to maximize their chances of getting opportunities, leverage relationships and connect with clients. The more they listen, the more they will be in a better position to cater the requirements of a customer.
- Make better decision: A big thanks to Google Analytics, which gives a complete insight of who the target audience are. It gives a complete understanding of your audiences in terms of the gender, age group, location etc. Basis these details it becomes a little easy to take better decisions.
- Gain tactics to deal with different personalities: Marketing is about how to reach out to different set of audience of different personalities. They constantly have to figure out creative ways to engage with audience of different personalities & in a way start learning to be tactful.
- Thinking out of the box: As small or new start-ups are already tight with budgets for advertisements, it is very important to reach maximum people with minimum resources. So being creative about who you target, how you reach to them and how to achieve maximum with minimum resources helps you become out of the box thinker.
- Immediate returns: Marketing unlike Accounts, Admin, HR departments will help the business to get immediate returns. With clear listening, targeting the right audience through analytics, using good tactics, and out the box thinking will always provide immediate and better returns on investment to any business.
Fundamentals of Marketing:
- The primary reason for marketing is to satisfy the needs and wants of people.
- Marketing should help to communicate the right message, to right person and at the right time to achieve sales and maximum profits for the product.
- It is very important to make a good quality product. As marketing will help you sell the low quality product but will never be able to get that customer back in the business to buy from you again. Also it will affect the brand name, as the customers who opted for low quality product because of effective marketing, will start speaking negative about the product. If you have a good quality product then marketing is just the right tool to get you started to sell and grow the business.
- Marketing comprises of 4 P’s namely: Product, Price, Place, and Promotion.
Product: It is necessary to have the right product. It should satisfy customers’ needs and wants. Only then it will be considered right product and it will sell.
Price: Before deciding the price of the product that you sell, it is important to do a competitor study to understand at what price competitor is selling. Right pricing is again very important to ensure customers make the purchase from you.
Place: Seller should know where his customers are buying the product from: Online or retail shop. Accordingly he needs to plan his strategy to be seen at the right place for convenience of the customer to make the purchase.
Promotion: It is important to let your customers know what product that you sell, what are the USPs of your product, how you are better than your competitor and how does your product helps make customers life more convenient. Communicating right message makes a huge difference, as it leads to chances of more sales and customers gaining the trust in the brand. And also customers start coming back to make new and repeat purchases.
How to Build a Strong Brand:
Internship program helped me in learning that you should enter in the competitive market with a unique angle. Try to become no. 1 in a sub category (Niche) as people remember only no. 1 position. Choosing the right category to enter is already half battle won. Combination of talent, passion and market will help you choose the right niche. All these 3 elements are necessary. Only then will the niche be helpful. For example: You are yoga instructor. You love to teach asana. There are tons of people willing to learn yoga. So now your talent is that you know the yoga asana. Passion is you love to teach yoga and there is a market who wants to learn yoga.
There are mainly 4 Niche:
Within each of these niches there are hundreds of sub niches with more micro niches. For example: Pets will be the niche and cats, dogs, birds etc will become sub-niche. Once you have selected a sub-niche, you will now get more focused queries of targeted customers. Responding to them satisfactorily will ensure the trust of customer and strong brand development. There are 2 major methods of marketing in your respective niche: Traditional marketing & Digital Marketing.
Traditional Marketing v/s Digital Marketing:
(Image source: thesocialite.in)
I had started my career with a holiday selling company and then moved to real estate. With over 10 years of experience and observation into sales, what I saw was both traditional and digital do wonders. I have seen my companies giving ads in newspaper with a no. to call for inquires. Now this is the traditional method of marketing with direct response method. Similarly we use to do simultaneously digital marketing. We had number to call for all the interested clients. With digital we were able to track the amount of leads generated through the specific medium. Digital gives us clarity on which all verticals gave us better response and which did not fare well. Accordingly we could focus our money and resources towards the more traffic bringing vertical.
Traditional Marketing is more of a conventional marketing done for a generic product to wider target audience. There are 5 major Categories:
- Print (Magazines, newspapers etc.)
- Broadcast (Television, radio etc.)
- Direct Mail (Catalogue, postcards etc.)
- Telephone (Tele marketing, SMS marketing etc.)
- Outdoor (billboard, fliers etc.)
India has 197 million homes with television sets out of 298 million homes. (Source: en.wikipedia.org).
Broadcast radio (AM) reaches a staggering 99% of Indian population and FM radio reaches 65% (Source: financialexpress.com).
So if the product or service is to be provided to wider audience then traditional method is a wise option.
But traditional method does have some disadvantages as stated below:
- Little interaction: With traditional method one of the biggest challenges is there is little or no interaction between the customer and the medium used for marketing. This method helps to create awareness of the product or services in the hope of converting customer someday.
- Higher Cost: The recurring cost incurred in traditional method of marketing will prove to be a huge investment and it will be effective only if it is seen by target audience.
- Limited Customization: With traditional marketing business can customize their ad to specific state, dialect. But traditional marketing doesn’t allow going for the targeted customers.
- Poor Measurement: Whilerunninga traditional marketing campaign, it is very difficult to measure the amount of results from a specific source.
Digital Marketing or online marketing is a way of marketing products or services to target audience through internet or electronic devices such as mobile phones. There are 6 major categories:
- Content Marketing
- Email Marketing
- SMM (Social Media Marketing)
- SEM (Search Engine Marketing)
- SEO (Search Engine Optimization)
- Affiliate / Influencer Marketing
- PPC (Pay-per-click)
Any business today (regardless of its size) can leverage the benefit of digital marketing to reach their target market, connect with their customers and convert them into their buyers. And all the people (especially the Millennial) are doing their research online before making a purchase of any goods or services. So it is advisable for the businesses to connect to their target customers where they are. Now understanding digital marketing and implementing the methods and techniques might not be your expertise. It will take considerable time and money to get you the favorable results. So working with a specialized digital marketing agency like ours will help you achieve your goals and higher returns on your investments. Contact us if you would like to discuss digital marketing campaign with us.
Advantages of Digital Marketing:
- Higher level of customer engagement: Digital marketing helps to achieve higher level of engagement with your target audience, be it through social media comments or email messages. Because of this, you can provide instant resolution to your client without wasting any time.
- Less expensive and more effective: As digital marketing is more target based and concentrated approach, ROI (return on investment) is quite high compared to traditional marketing.
- Measurable results: Thanks to Google Analytics, that now you can measure the results of the digital marketing campaign. Because of the analytics you have an access to tons of information about your prospects including the no. of people who visited your site and what percentage of them got converted.
- No boundaries: Digital marketing allows you to customize your content or product or services and market it without limiting or restricting you to any specific boundary. You can, not only market in various cities but also across different countries.
Integrated Digital Marketing:
Integrated Digital Marketing is a strategy of blending different marketing tools to work together. It builds the brand value and thus you start capturing the mind space of your audience. Let me give you an example to explain this. Think of a digital picture. We see a specific thing because there are tons of pixels which come together. Those same pixels when apart doesn’t make any sense to you. Right? Same is the case with digital marketing. If the tools used separately, getting a result is a bit difficult. But if you unify all these methods, it becomes all the more appealing and connecting with your audience. Thus, allowing your audience to go from one touch point to another seamlessly. Below figure explains this ina diagrammatic manner. (Source: DigitalDeepak.com)
Using the Integrated Digital Marketing technique, how to create CATT Marketing funnel to boost sales is what we will talk now.
CATT: Stands for Content, Attention, Trust & Transaction.
CATT is the marketing funnel designed by my mentor DigitalDeepak to have a hassle free and smooth journey of your prospect to becoming a proud and loyal customer.
Content: As you have seen in the earlier image that content is the heart of integrated digital marketing. You will have to create a very strong and quality content to attract your target audience of your niche. Always make the content incomplete, so that the reader looks for more information and comes back to you.
Attention: You have to drive attention (traffic) to your content through SEO, Social Media, Paid Ads and Referrals. Have a hook in your content like some free e-books or free videos that attracts your audience.
Trust: When you have created a quality and strong content and attracted the audiences with the hook to come back to you again and again, trust is started building for you with your audience.
Transaction: Now is the time to leverage that trust that you have gained from your audiences to convert them into your proud and loyal customers. And this will happen through natural sales method because they have started trusting you. You will not have to force them to buy from you.
I am sure by now you would be yearning to know how to make Rs. 1 Crore. Your wait is over. With this CATT marketing funnel let me show you how to earn Rs. 1 Crore.
The above bar chart (source: DigitalDeepka.com) shows the number of customers and price of the product.
Simple formula to earn Rs. 1 Crore = No. of Customers X Product Price.
In the 1st bar, to achieve Rs. 1 Crore you need to sell a product of Rs. 100 to 1 lac customers. You have to grab their attention through a strong content leading to a product of just Rs. 100. Now you need to keep providing value to them by sending them fresh content so that out of those 1 lac customers at least 10,000 customers are ready to buy a product of Rs. 1000 from you. Now you have gained the trust of these 10,000 customers. For the next step, trust for you have already reached to a level where out of these 10,000 customers, at least 1,000 customers will be ready to buy a product of Rs. 10,000 from you as you have been offering them value all this while. And once you have achieved this stage, your product will start selling itself. Then to achieve Rs. 1 Crore, even if you come up with a product of Rs. 1 lac, there will be at least 100 buyers to go for it.
Though the process looks like a cake walk, but to achieve this you need to put in lot of hard work, quality and strong content, multiple strategies etc. But once you do that, there is no one stopping you to earn Rs. 1 Crore.
We have understood that marketing is there in every walk of our life and using various tools of marketing like personal branding, new age tool like digital marketing with the use of integrated digital marketing and CATT funnel marketing one can easily achieve the goal of earning Rs.1 Crore.
If you have reached here all the way reading this article, then I thank you for spending your crucial time. Also it’s a very humble request to provide me with a feedback or suggestions so that I can keep offering you more and more valuable articles. Keep looking this space for more such articles from my internship program. In case if you are interested & would like to join the internship program then you can apply here. I have also written an article reviewing the internship program. You can have a look at it here.