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What is Marketing? Is it the same as selling?

What is the difference between Traditional Vs Digital marketing? What is personal branding?

Already know the answers?

I bet you do, but still, read on.

This article will focus on what you don’t know.

The underlying concepts will help you build a deeper understanding of the fundamentals of marketing and make you start questioning your notions about it.

Here is the outline of the topics we will be looking at to Understanding Marketing basics.

  • The fundamentals of marketing
  • Digital Marketing vs. Traditional marketing.
  • CATT Marketing Funnel
  • Integrated Digital Marketing
  • Personal Branding: MassTrust Blueprint

If you are a working professional, entrepreneur, freelancer, or student, then you would not want to miss this.

Let the journey begin.

Understanding Marketing basics-

For most of my time as a professional marketer, I thought growth in this field depends on the level of creativity someone possesses.

But soon the realization dawned upon me that marketing is more than just creativity.

It is a Science as well as an Art.

To help you understand the science of marketing, here are some of the basic tenets of Marketing.

Marketing starts even before product creation. It is about understanding the customer and their needs to create a product that fits. It involves everything from sending the right message to the right person at the right time.

Marketing is not Selling, the job of a marketer doesn’t end once the product is sold.

“The aim of marketing is to reduce the need for selling” — Philip Kotlar

Keeping the existing customers happy by continuously communicating with them so that they become lifetime customers is also an integral part of marketing.

Marketing is about creating a position in the mind of the customer leading to the top-of-the-mind recall.

So that when people think of the category they identify it with your brand.

An example here is BookMyShow, when people talk about movie tickets they instantly think of BookMyShow. BookMyShow as a brand has positioned itself in the minds of the customers as the leading movie ticketing platform.

Even though in today’s day and age we have a lot of sophisticated marketing channels but Word of Mouth remains the best.

There is nothing like brand advocacy, which is your existing customers becoming your brand ambassadors.

While understanding the Marketing process is all about perceptions, products are rooted in reality. If the product is good you won’t need to market it much, however, if the product is bad then any amount of marketing cannot change its fate.

Once you have learned what is marketing, identified your target audience the next question is which channel to use to market your product or services.

The next section answers this question.

Digital Marketing vs. Traditional marketing

To put it simply traditional marketing is the use of conventional mediums like newspapers, TV, Radio ads, Outdoor branding to promote your product or services.

On the other hand, digital marketing uses online platforms to go about the same like Social Media, SEO, Email marketing, remarketing, etc.

It clearly helps to define the goals before deciding which channel to use.

For consumer-grade products which are generic in nature like Detergent powder, soap, mobile phones, etc it makes more sense to use traditional channels as the reach is wider.

However, for more sophisticated products or services with a niche audience, it is highly recommended to use digital means of promotions.

But having said that there is no hard and fast rule that you have to use a certain channel for a certain category of product or service.

Companies like BookMyShow & Zomato, are online first companies but they still spend on both traditional & digital marketing.

So how to choose which channel to use?

Start with understanding your customers, what do they do, where do they go, their behavior, affinities, spending habits, etc.

Once you have this information, you will be able to make a better decision.

Let’s say you own a company, which makes a low-cost detergent targeted at low-income households. How will you promote your detergent?

Using paid social media campaigns, blogs, or emails? No!!

It will make more sense to run TV ads or newspaper ad may be. It will give better reach as your target audience is more likely to watch TV or read a vernacular newspaper than reading emails.

However, if your company is a Fintech startup that facilitates API integration for an OTP-free experience on its client’s app.

It won’t make sense to run a TV ad or do a hoarding.

Using digital marketing you can customize your campaigns to your target audience, which in the above case will mostly be developers.

Having said that India has close to 298 Mn households, out of which 197 Mn have TVs.

With 4–5 members per family, this makes the total reach to be around 900 Mn. Digital marketing can never have such a reach.

It leaves 100 Mn as the population which can be targeted using digital marketing, this is India 1 with a per capita income of 5–7 lacs p.a.

The Digital market in India has still got a long way to go.

To read more you can go to digitalsumitpathak.

CATT Marketing Funnel

What is CATT Marketing Funnel?

It is a framework to help you make wealth.

Wealth= n^CATT

“ n ” here is the niche.

The niche you select is a direct function of the kind of wealth you make and your success.

The effectiveness of the framework depends on your niche which in turn defines how much wealth you make.

Identify a niche that is narrow and has the potential to give you a good return.

Understand the target audience, the problems they face, and the market that forms that niche. See if your product or service solves this problem.

Your niche shouldn’t be broad, it shouldn’t be focussed on identifying something that has not been explored yet.

So that you can be the first in your category.

“ C ” is Content.

Create useful content that attracts people to your business. The content can be in any form blog post, video, live webinars, etc.

To make good quality blogs follow the below steps-

  1. Write like you talk
  2. Join a conversation already running in the mind of your prospect, instead of starting a new conversation.
  3. Understand your audience.

“ A ” is Attention

Drive traffic to your content using paid ads, SEO, etc.

“ T” is Trust

Build trust with your audience by sending out communication that is highly personalized.

It should make the prospect feel as if you are talking to him face to face. It can be done by marketing automation & retargeting.

“ T” is Transaction

This is the most important step in the framework as without this you won’t earn. If you won’t earn you won’t have the resources to invest in creating high quality for your future blogs.

If the trust is there, you won’t have to push the customer to may a buy call. It means you have done all the steps to perfections.

And hence the lead will get converted with natural sales methods.

Once you feel that your niche is saturated, you can move on to the next niche and start the process all over again.

Integrated Digital Marketing

Marketing as a discipline should not be looked at in a disintegrated way, wherein we are looking at each of the modules separately.

Instead, we should think of it as an integrated exercise, wherein one module compliments the other and the resulting output is more than the sum of the individual results.

For example, content marketing should not be looked at in isolation, wherein we are publishing content and expecting it to go viral.

Content is the element in Integrated marketing and every element is going to boost content.

To stay updated with the latest Digital marketing trends check out DkDizi

Here is a detailed article on key concepts of digital marketing.

Personal Branding: MassTrust Blueprint

What is Personal Branding?

To answer this question let’s ask a few more questions.

Do you know anyone who is not as good as you at work but still is everyone’s favorite?

If you do, then let me tell you that that person is a better personal brand than you.

The best known will always beat the best.

You should always focus on marketing yourself, unless you do that people won’t know that you are good at something.

A personal brand helps build trust. To create a personal brand there has to your story.

It doesn’t feel natural to communicate with a company, people are more comfortable interacting with other people rather than talking to a logo.

Upside to a personal brand:

You can start brands and rub off the goodwill of your personal brand to your company brand.

The downside to a personal brand:

A personal brand cannot be monetized by selling it, however, a company brand can be sold.

You can always use the benefits of a personal brand to grow your other brands. And eventually, the other brand will become bigger than the personal brand.

An example of a personal brand here will be Conor Mcgregor, the name Conor Mcgregor is bigger than any of the ventures he has started.

But there will come a day when he decides to hang his boots and stop competing at pro-level MMA, that is when his company brands will overtake his personal brand.

How to evolve as a personal brand?

Follow these steps:

  1. Learn new skills
    → Understand the Concepts
    → Remember the Facts
    → Practice the Procedures
  2. Work- Move from practice to implementation. It helps you gain authority in a particular subject.
  3. Blog- Once you have implemented the learning, you should write about it. As you write you understand better, and it will also help you build your personal brand.
  4. Consult- Now you a blog, people can reach out to you. You can start consulting by showing them your work and the blogs you wrote about your learnings and experiences.
  5. Mentor- Mentoring scales understanding to a whole new level. Since you will be interacting with a lot of people and sharing your knowledge.
  6. Startup- Start your own venture with the learning, experience, and understanding you have developed about your audience and the market.

Going through this evolution is essential, you try jumping the steps and failure awaits you.

Conclusion

Marketing like any other discipline is also governed by certain laws. Ignore these laws at your own risk. Hence Understanding the Marketing process is of paramount importance.

Be it the fundamentals of marketing, digital vs traditional marketing, CATT marketing funnel, Integrated digital marketing, or personal branding.

Every concept is based on certain unwritten ground rules, these guidelines are not definitive in nature but will give you reference points to start and track your journey.

Hope you liked what you read.

Do share your thoughts & feedback by commenting below.

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This article is a part of DigitalDeepak internship program.