Digital Marketing: A Deep Well that never runs dry?

Fundamentals of Digital Marketing

Is it so? What do you think?
marketing

Marketing is defined by many but described by none. In this article, I am going to talk about marketing, a well which has no end. We will talk about the different versions of digital marketing that I learned.

I have joined a digital Deepak internship and during week 2 I have learned the different versions of marketing. This article is the summary of what I and my batchmates were taught in week 2 of the Batch 6 (Oct 2020) of Digital Deepak Internship Program.

The article is for all aspiring digital marketers, entrepreneurs, freelancers, anybody who wants to learn marketing.

Given below are different layers of this well (Digital marketing) from my perspective of what I learned.

Let’s dive into it!!

Layer 1: What is marketing? (fundamentals)

Marketing is not only based on creativity but on science. Creativity is one of the factors of marketing but not the only one.

Customers’ needs lead to the creation of products which is marketing.

marketing

The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”

-Peter Drucker

Marketing is a journey throughout from the product selling, usage to experience/review of a customer. If the product reaches the customer at the right time and he has a great experience then he will develop trust.

Like that you have to build a #masstrust which is a thing I learned from Mr. Deepak.

marketing flowchart

The above flowchart signifies that if you have a good product then you just need to market things positively once you build a strong brand and you are the only one in that space then it automatically get sales and doesn’t need marketing expense.

Word of mouth marketing is the strongest and crucial part of marketing.

Few important points to remember:

1)Advertising is not marketing. Advertising, copywriting, sales are the components of marketing.

2)Being unique should be a goal.

3)Marketing is about human psychology and understanding the market.

4) Marketing gives an immediate ROI.

5)To hire a marketer, the founder himself should be a marketer.

What separates good content from great content is a willingness to take risks and push the envelope”

-Brian Halligan

6)Business is all about marketing.

7) Good communicator is a good marketer.

8)When you know your target audience & join their conversation in their mind plays a crucial role to build a brand.

Getting there!! towards another layer…

Layer 2: Global Economics and Marketing

global economics

Learning about Global Economics is very important for marketing and marketing is important business and obviously for an entrepreneur.

Therefore, knowledge of economics is very important for an entrepreneur.

Few important facts about economics:

*The economy of the country depends on the average age of the country.

Developing country has young average age which shows that these countries will have developed economy. Hence, India will have a growing economy as its average age is 27.

*Debt creates money. As the young age population is high, their demands will be high, hence they will need more loans which leads to more interest which increases the economy. More debt = more cash(economy)

*The company which stands during a recession is a strong company and weak companies will naturally drive off the market.

1. Economics 101 by Alfred Mill (on Global economics & inflation )

2. Currency Wars by James Rickards.

3. Capital in Twenty-First Century by Thomas Piketty.

economics

For understanding Indian economics we need to get this bifurcation of the Indian population and their per capita income.

indian economics chart

There are 3 categories of Indians to understand economics: India 1, India 2, India 3.

The above table is to understand the product requirement i.e which segment has money for your product.

You should know your target customer. If your product is of high price then India 1 is your target customer and accordingly, you will know your customers.

“Best way to sell something: don’t sell anything. Earn the awareness, respect, and trust of those who might buy.” 

— Rand Fishkin

Let’s Plunge towards another layer !!

Layer 3: Digital marketing Vs Traditional marketing

For many businesses, reaching the right “marketing” decision is not easy, even though it can make a huge difference in their results.

digital vs traditional

What is Traditional Marketing?

Traditional marketing includes the traditional ads we encounter on a daily basis which is hard to ignore. Offline marketing has 5 major categories.

1. Print (magazines, newspapers, etc.)

2. Broadcast (TV, radio, etc.)

3. Direct Mail (catalogs, postcards, etc.)

4. Telephone (telemarketing, SMS marketing, etc.)

5. Outdoor (billboards, flyers, etc.)

What is Digital Marketing?

Digital Marketing

Digital marketing refers to advertising delivered through digital channels such as search engines, websites, social media, email, and mobile apps.

Now as we know about both the marketing category, let’s look towards four P’s of marketing which is essential.

1. Product: Functionality, brand, packaging, services.

2. Price: List prices, Discount, Bundling, Credit terms.

3. Promotion: Advertising, Salesforce, Publicity, sales promotion, word of mouth.

4. Place: Channel, Inventory, Logistics, Distribution.

Digital marketing is all about the 4th P –Promotion. However, the fact of the matter is, digital marketing is highly effective because it does not ignore any of the four P’s of marketing.

It rather uses each one of them in a unique manner, and sometimes even better than traditional marketing.

The generic product which already is a brand doesn’t need digital marketing it can reach millions through T.V.

Conclusion-

Hence, we can conclude that both the marketing decides their own place.

While having a marketing budget is important for any business to spend it in the right direction and make the most of it.

You should know where to spend it when it comes to digital marketing vs traditional marketing.

Moving ahead!!!!

Layer 4: Direct response marketing

Direct response marketing is for the businesses which need to know that their ads are working or not.

It is an instant response for your product and encourages the customer to take action.

Direct response marketing is a type of sales technique designed to evoke an on-the-spot response and encourage a prospective customer to take action by opting in the advertiser’s offer.

“ Direct response is a type of marketing designed to elicit an instant response by encouraging the prospect to take a specific action.”

— MarketingEvolution.com

Some books recommended for direct response marketing:

1. Scientific Advertising by Claude .C. Hopkins

2. Confessions of an Advertising Man by David Ogilvy.

Layer 5: The CATT Marketing Funnel

CATT funnel is how your audience will go through the entire journey with you.

CATT is a sales funnel that will help you to build the mass trust of your customers with the help of Digital Marketing.

CATT Marketing Funnel

The secret to further boost and market our niche, apply the CATT Marketing Funnel to create wealth.

Wealth =n ^ CATT

Where ^ denotes power. Where your niche (n) will be successful and powerful with the CATT you will apply.

N — stands for Niche. The unique no.1 offering you have for your audience.

C — stands for Content. Create useful content, blogs, emails, videos, podcasts, webinars, posts, and much more to generate leads.

A — stands for Attention, pulling traffic to your content. Also through social media ads etc.

T — stands for Trust. Personalize your communication in emails.

T — stands for Transaction. Convert leads into customers.

This sales funnel helps you to build mass trust, whether it is for your B2B or B2C business, and it also helps to build a long-term relationship with your target customer.

Layer 6: Integrated Digital Marketing

Integrated Digital Marketing encompasses the idea of creating a unique form of expression that’s easy to identify in all of the channels your customer uses.

Integrated Digital Marketing

Integrated Digital marketing –

It is the integration of multiple marketing strategies coming together in one complimenting channel making optimum of individual strength rather than competing with each other.

For the customer’s business, so that the customer gets maximum revenue

All aspects of Digital marketing are interrelated with each other.

The important aspect of all of them is content marketing which affects other factors like SEO, Social media, Email marketing, paid to advertise, conversions.

Top 6 email marketing tools 2021

“Integrated marketing offers opportunities to break through to consumers in new market.”

-BETSY HOLDEN

And here we are touching the last layer of the well!!!

Layer 7: Personal Branding

Personal Brand

Don’t underestimate the power of personal branding!!:)

Building your personal brand is very important as people trust brands, they need to hear from people about it.

Personal branding has both upsides and downsides.

Downside: A Personal brand cannot be invested in and it cannot be sold.

Upside: A Personal brand can give rise to many brands in his/her influence.

We can combine both upside and downside to become an influencer or brand ambassador for the companies they start.

Therefore, we cannot ignore personal branding as it cannot be sold, it can bring in other major projects for you.

Evolution of personal brand:
MassTrust Blueprint

Learn — Learn new skills passionately. Upgrade yourself. Learn through a case study, through facts & procedure. You should just have a passion to learn.

Work — The new skills learned, implement that in your work. Stay focused on what you want to achieve. Being persistent is very important.

Blog — Take time and write down, you never know what may come out. Writing leads to better understanding, better thinking & better communication. So write as much as you can that’s the only key to improve your blogging.

Consult — Now that you have good experience in your own Niche instead of working for someone you can start to do consultations.

Mentor — You must have got help from someone at any point in life. If you think, you know and understand your work, try and give back. This might also open new opportunities for you.

For mentoring, you can also create online courses for your students, which platform to use I will refer you to Thinkific you can read about it here

Startup — Accumulate the entire knowledge, understanding & experience, and build your own start-up. It will truly add value to in-person networking.

Here we come to the end of the layers but this well never ends!!! If you remember, These are the only thing which I discovered during plunging over the well. There are many more layers that are yet to unfold.

Hope your curiosity makes you plunge more. Thank you for the time you invested in reading this article.

Hope it helps!!

This article is one of several assignments in the Digital Deepak Internship Program.

Please leave a comment if you really feel it’s worth it.

To know more about Digital Marketing, Please read the article here

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7 thoughts on “Digital Marketing: A Deep Well that never runs dry?”

  1. I was extremely pleased to find this website. I wanted to thank you for your time for this wonderful read!! I definitely loved every part of it and i also have you book-marked to look at new things on your website.

    Reply

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