“The consumer is not a moron; she is your wife.” — David Ogilvy
“When talking to consumer one needs to be gentle and warm and the tone you use can tell so much about you while you write which creates huge impression on reader or viewer minds .”
“In this article, we are going to discuss important Fundamentals of Marketing that a writer needs to know for better content writing for marketing. We will also discuss basic rules of marketing, how to Communicate, the interrelation of global economics and marketing, Digital Vs Traditional Marketing — Which is better, the Significance of Direct Response Marketing, What is CATT Marketing Funnel, and Why Integrated Marketing is needed, how to do Personal Branding – This article will be useful for bloggers, professionals, freelancers, mentors, and entrepreneurs.”
Financial stability is the most important part of future planning — if he/she knows how to target and achieve financial goals it helps in achieving professional goals makes it easy to start a business or things like venturing into new areas of life. As a blogger its important to have a passive source of income as it may not be a smart move to depend on one income source.
A Successful affiliate marketer, Kulwant Nagi says “ Money is Raining on the Internet, it’s up to you, either grab it now or regret later.”
Therefore it’s important you make a product that generates value and then sell it. Digital Deepak on live Webinar accepted the fact that he found it funny when people who were selling a small Ebook for ₹99 but later he himself started the same pricing concept because he understood you can still make good money but Why? Because math is pretty simple if you want to make 1 Crore in revenue there are many ways to do. Eg — Product Price is ₹100 to achieve 1 Crore you can sell it to 1 lakh customer or 10 thousand.
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 as you have to Evolve with time to keep engaging your new customer as well as keep your present customer engaged.
You may have the best of the product but you don’t know how to market or put the word through. You will never get the aspired result.
Therefore, if you dig deeper you will learn that a lot of CEOs come from Marketing and Sales backgrounds. Yes, you heard it right!
Marketing is Science which works like art if done right.
A Good Marketer knows to communicate well and therefore he sells more products because he has triggered the need for consumers. and He plays the flute that gives his customer a feeling of need to make a purchase.
Marketing is game perception but its also a process of building trust so you can influence your consumer over a period of time, so that becomes a loyal customer for your business.
Communications in Marketing
Nobel laureate and Scientist Albert Einstein and The Famous Charlie Chaplin met in 1931. A memorable exchange from this conversation was-
“Einstein to Charlie: ‘What I most admire about your art, is your universality. You don’t say a word, yet the world understands you!’
So What do we understand communication is not just about the word. It’s more of expression all these famous figures have something common in them and most of it was communication, The Art of Influence.
Take an example of a Colgate it is toothpaste but we end up saying — please! give me Colgate. they have made the word so generic that it has now become a Crux of communication, And Toothpaste by default has become a brand name, Colgate.
And I would recommend a good book to improve communication which is how to win friend and Influence People by Dale Carnegie
Global Economics and Marketing
India’s Population is 2.5 billion that means there are huge demands for products and services. So Countries economy goes up as the average age goes up spending goes up too! Developing Nation comes with a lot of opportunities. This may not apply to all products and services.
A lot of Affiliate Marketer like to target the US for various reasons. but often forget the developing nation has huge potential. whenever a company starts its manufacturing unit or business in other countries they have to know the Countries Socio-Economic condition.
So As Entrepreneurs, basic knowledge of the economy is a must. As it helps in serving products or services to the right set of customers.
Most of the money in our economy is created by banks, in the form of bank deposits. Banks create new money whenever they make loans. 97% of the money in the economy today exists as bank deposits, whilst just 3% is physical cash.
Therefore In the Stock Market Investor and Leaders often says “Recession is good as it weeds out incompetent Companies and only company with strong fundamentals survives.”
Digital Vs Traditional Marketing
There is no brainer Digital Marketing is becoming an important medium of communication and marketing. But In India, there are 60% population still lives in rural setting and Radio and Newspaper is still a more important part of rural life. there is something called “Pouch Economy” — So what is it?
Have you seen a small shampoo packet for ₹ 1 and Parle Biscuit with 4 Biscuits in a small packet that’s called Pouch Economy!
In Urban areas, people have a habit of stocking and buying a huge bottle or a big packet of product. Which is not the case in Rural Areas. Therefore Traditional Marketing is still valid.
Let me give you my example, My Family and extended Family Relatives have a Shoe Wholesale business, and when a new Shoes or footwear is in the market.
I do always wear it first — Why? When I wear, my peers do ask me where did you get it from? and I often tell them this particular footwear is exclusive and it is not in stock yet. So that builds FOMO factor in some of my peers, So Yes, you guessed it right — They often tell please whenever it is available to keep one for me. There! I got an order.
Take the present COVID Situation when most of the mall and convenience stores like DMart were closed. the Baniyawala has become the rescuer for most of us. that small Kirana Shop is still open somewhere. therefore I made a promise to myself that will make some purchase from Kirana Store more Often from now. Why? Because it was there to serve my need When other options were closed.
Direct Response Marketing
Direct response marketing is a marketing practice that demands a quick response from consumers who are exposed to it. The goal with direct response marketing is to convince consumers to take immediate action like calling a number, visit a website to avail sale or visit a retail outlet, or take some desired action.
The best example of such marketing will Xiaomi Mobile Launches on its official website, which takes place for some period of time, and if you miss placing the order in that Fraction of second the stock goes out of stock.
What is CATT Marketing Funnel?
CATT basically stands for,
n for Niche — When you know your Niche the Marketing process becomes easy. Even Deep Marketing can be done effectively If you know your target audience well.
C for Content– When Niche is selected, the next step would be to create content for your niche audience. it could Blog, videos, post, etc
A for Attention– Driving attention could be initiated with Email, referrals, and also using SEO, Social Media, for the target group.
T for Trust– Building trust should topmost priority when you have a niche, target them with a method like Marketing Automation, Retargetting helps in building trust.
T for Transaction– Following each above step can yield you a long term benefit and transaction will take place once you build the effective marketing funnel and assurance in the consumer.
Before the CATT funnel, it is important that we choose a Niche. Selection of Niche Should be prior as it sets the very basic foundation for the process of marketing.
You need to have a talent, passion, and Market need for the niche you select. This will keep you on the edge of excellence and perseverance and it will definitely keep you interested and devoted toward the journey.
“Focus on identifying your target audience, communicating an authentic message that they want and need, and project yourself as an “expert” within your niche.” — Kim Garst
This is the most used Marketing funnel to drive sales to an online business.
What is Integrated Marketing?
Content Marketing:- A Quality content helps build brand and trust in Reader, Relevant Content helps in engaging the right Audience and Niche. It helps build a strong network Eg — (A Facebook group for the like-minded group) which helps in spreading a word across easily.
Email Marketing:- 293.6 billion emails were sent and received each day. Email Marketing is one of the cheapest and most effective media available for marketers. When a subscriber has opt-in for your email that means the consumer has given you “Green Signal”.
Email Marketing helps you write a longer message and much detailed information can be easily sent across. It also, means you should often keep subscribers interested by sending a regular email like promoting new blog posts or product offerings, discounts, and more.
Social Media:- Social Media is where the world comes under one roof, That also comes with challenges and its own perks — If targeted on right focus group it can gain the desired Response.
People are more genuine and honest about their opinion on social media, which means feedback and suggestion are more realistic as people are more genuine in Social groups. so listen to the needs and wants of consumers, use this to make good content or better product.
Serve it Hot!! Remember,
A good Chef is always open to trying new ingredients to create a new dish.
SEO:- Isn’t it easy to serve people who are looking to dine with you.
The same applies to SEO, As it helps in targetting people who are searching for your product, service, or Keyword. if done without manipulation. Search can get you the right customer who is ready to embrace you with an open arm.
On-page SEO is the practice of optimizing individual web pages in order to rank higher and earn more relevant traffic in search engines.
Paid Advertising:- Paid advertisements, whether it is digital display ads, social network ads, co-sponsored email ads, or PPC ads on search engines. Can help Marketer in speeding up the process if done right.
Paid advertising might be an excellent solution for many businesses, but you always need to be aware of your ROI. If you spend $100 on one customer and in return you are gaining $10. Is it worth it? but you can always test the water with one foot.
Power of Personal Branding
If are you are good at something you should work on it and make it a passion, Eventually, you can make living out of it. how wonderful feeling it is to get paid for doing what you love.
You may be the brightest in your field but if you cant put in a word or convey your message effectively, then it is a challenge to make the best out of it.
Nicola Tesla is the best example of this. He was one of the geniuses in the century and many say Scientist Thomas Alva Edison hogged his entire credit. But Truth Edison was able to build a good personal brand. He wasn’t just an innovator but also a good communicator and marketer, Which tesla Lacked. No Doubt he was a far better scientist than Edison but World remembers Edison.
Apple Founder Steve Jobs didn’t even know how to code but he knew how to market. Co-founder Steve Wozniak was the tech brain behind Apple but Steve was a vision behind it. World Loves people who sell them their dreams.
Steve did exactly the same, he made Apple the top sold brand of the decade, and also his Image resonates with Every Apple Product. A good Visionary builds a brand around him and therefore when he ventures in the various project the buyer follows him.
Recently, Elon Musk Gave a live Demonstration of Bulletproof Cybertruck by breaking the window — He tried to sell it as an unbreakable but the glass broke on live TV but still, millions Cybertruck order was placed why?
Because he has built a strongly correlated product with Personal Brand. He wears his failure as a badge of honor.
Downside — Personal brand cannot be sold or lease it out.
Upside- You can leverage your brand according to your reputation, and create multiple businesses out of it. Which is also called Conglomerate.
Best Example — Ratan Tata
A Personal Brand can leverage its benefits to influence and shape the market needs or want. Warren buffet has a stake in Coke and He consumes five cans of Coke a day. Learn how smartly he is influencing people to consume it so naturally, he makes more money in the company he invested in.
Therefore, the Brand Ambassadors of the Company is paid a hefty amount.
Evolution of Personal Brand
“You have to be smart. The easy days are over.” — Robert Kiyosaki
Gone are those days, When People worked in Mills and Farms for 12 Hours and did the same work each day, The World is highly competitive with many high demands of technological advancement. So you cannot sit and imagine to grow in your comfort zone.
you have to put in the effort to learn new skills, update with the latest trend as everyday technology and methodology of marketing is changing rapidly.
Learn new concepts with procedures and facts. Apply to the skill to test, so you get a better result of what you been achieving.
Bruce Lee — ‘‘I don’t fear the men who practice 10 punches thousand times, I fear the man who practices 1 punch a thousand times.”
Practice what you acquired and learn to consult if needed help, teach someone as it is said you learn better when you try to teach it to someone else.
Be a Mentor, Mentoring will help scale your own Perception and Understanding. Start your own Product and Service, try to solve a problem that you think can be done differently.
Remember, Most of the successful CEO’s started a business so they can solve a problem they think needed to be fixed.
And the cycle of learning and applying goes on.
The above Fundamentals of Marketing are crafted in manners that can be applied effectively. Be it a basic law of marketing, Economics, or Digital Media Advancement process it is all available and tested with time and which have proven and given better results in business.
The Channel and process of marketing enable ones to get in touch with consumers deeply and that can have long and lasting Impact.
It helps cut down the cost of customer acquisition ratio, a Loyal Consumer looks at your product and service as social security.
Therefore, you can enhance and create value that will benefit your customer and your business and there are many such a channel of automation that helps in going far with building a brand.