The fundamentals of Digital Marketing.
I find many people, like in my family or friends, think marketing only means advertising. Heck, many even think sales is marketing.
Well, these are not true.
I mean Advertising and sales are an important part of marketing, but there are many more important parts in marketing. Market Research, Pricing/Pricing Psychology, PR, Content Marketing, Online Reputation Management, Direct Response, and few more things.
In general, there are four pillars of marketing. These are –
Here are few things I learned about marketing from Second week of internship –
1. Marketing is more of a science than art. It is not just throwing out some awesome creatives in the public.
It is more about understanding people’s needs, find and reaching an ideal audience, sending the right message, and being present at the right time. Quantify the results and try to improve. So, this is all science, art will help convey the properly but it is not everything.
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2. Marketing should be done even before the product/service is created.
In a company I worked in, they provide classroom training. We did SEO and managed to rank 3rd-4th position for main keywords and 1st position on Google Maps later.
Yet, we were facing two problems –
- We are limited to very few students and location (people in Bangalore don’t even travel from BTM layout to HSR Layout).
- More and more people were getting comfortable with online training and opting for online because the courses are really cheap like in Udemy.
So, overall business is going down over time and we can clearly see it. But couldn’t do anything other than going online.
But to go full on online training, it is not as easy as just creating Facebook and YouTube ads campaign with cool creatives. We need to build a long term funnel, teachers should go more public and do personal branding gain “MassTrust”, teachers should be trained to do webinars and sell on webinars. So we just can’t promote it online need to change or upgrade the teachers. Marketing should be an integral part of the entire system, it is not just starting a business however you want then marketing.
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3. Marketing should not stop right after selling the product or services, it is making sure the customers have a good experience so that they remember you and will be ready to buy another product. understanding the lifetime value and making the sales job a lot easier.
My personal experience, I made a system that generated 70+ genuine reviews on Google My Business that made our business rank no. 1 on Google Maps for many important keywords. It took me more than two months implement the system and start collecting the reviews but after that collecting reviews was breeze and that brought us so many more customers.
I have seen many small and big businesses doing great for ages and just crushing it without having that great product. For, e.g. some hotels and restaurants are located at such a strategic location, that their bad quality food doesn’t affect sales. It doesn’t mean that one need not care about building a good product, it proves there are many more important things others than having a good product.
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Digital Marketing vs. Traditional marketing
Digital Marketing is not something completely different. The fundamentals of Digital Marketing are the same as Marketing. Digital Marketing is just a new channel/medium, a very efficient one.
Digital marketing is awesome, that doesn’t mean traditional marketing is dead.
Television still has a reach of 800M to 1B people, radio has a reach of 65% of the population, newspaper has 400M+ people. Again there are billboards and posters etc. Where Digital Marketing now has about 100M people.
There are a few things which are possible only with Digital Marketing but not traditional marketing.
- With Traditional Marketing it is difficult to track results accurately.
- Personalization is not possible
- Deep marketing and natural sales can not be done.
- Not that suitable for direct response marketing.
When the product is very generic, low end consumer grade products, traditional marketing can reach to more people with really less money.
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But the target audience is very specific, English speaking internet user. Digital Marketing more efficient.
Another thing is the for conventional marketing, the minimum investment is more, with Television ads, Radio ads. But with Facebook ads we can start reaching target audience even with Rs.500 or even for free it is possible to market efficiently.
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CATT Marketing Funnel
CATT Marketing Funnel or Framework, shows the amount of wealth potentially one can make.
The CATT Framework is –
Wealth = n^CATT
n = the niche one is choosing
C = First one needs make content. Type of content and channels will depend on the niche and audience.
A = Creating content is not enough. People should know about the content. SEO, SMM, Ads, Email Marketing etc. can help you get the attention.
T = When people read our content over and over, we gain people’s trust
T = Only after gaining trust people want to pay us for some product or service that will help them.
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Integrated Digital Marketing
CATT is very linear. This shows how an individual user goes through different phases of marketing funnel.
But when we want to execute the CATT Framework, things wont be linear, all the things will happen simultaneously. All the phases will interconnected.
Integrated marketing is the engine that drives the CATT funnel.
The content will be at the centre and we will share it on social media, email newsletters, we will do SEO. People read the content – start trusting – they share on social media, giving even more boost – start buying product/service. The paid ads can boost the system’s efficiency.
So many times just doing one thing doesn’t work. For example it is very inefficient to drive conversions directly from ads. If people do not read/consume your content, they don’t trust you, so they don’t convert easily. But doing integrated marketing and even the focus is given more the content will can it more and more efficient over time.
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Personal Branding: MassTrust Blueprint
People are bored listening to brands and companies.
Though Marketing for Brands and Company is very necessary, yet people like to talk to and listen to other people.
People do not connect to a brand as much as they connect to a person.
Well, it is true people are so much connected to Apple products, but pulling it off is very difficult and only few companies achieve that.
Especially when you are starting from the bottom personal branding will be much effective than doing branding for a company.
You can see the proof, many companies’ CEOs, FOunders have more Twitter followers than the companies Twitter Handle. E.g. –
Even if companies have more followers, the Founders’, CEOs’ Twitter posts receive better engagements even when both share the same content.