Do you want to learn digital marketing but confused about where and how to start? What are the fundamentals and laws related to marketing?
Well, worry not this blog will help you understand the fundamentals of marketing and aspects related to it. This blog is for students, freelancers, working professionals who want to get started with a basic understanding of digital marketing and take it to the next step.
Also, this blog will talk about why companies should drive business through all marketing channels, understanding your customer needs, and why personal branding is important in the digital era.
Fundamentals Of Marketing
“Marketing is getting someone who needs to know, like, and trusts you”
Marketing is the process for creating, communicating, delivering, and exchanging offers deep value for customers, clients, and society at large.
There are few fundamentals of marketing that everyone needs to understand:-
1. Customer needs – By understanding customers’ needs and launching products as per the customer requirements it will help create a unique position in the market and also to sustain for the long term.
The best example of understanding Customer needs is Parle G. A 80 year brand that is still in the market and continuing in the market.
People in colleges, hostels, offices can relate to the Rs 5 biscuit packets with a chai in the evening. They understood a lot of the audience preferred something light on their pockets for evening snacks.
It is also referred to as “Common man biscuit” which has great demand in the rural parts of India and among the laborers as well.
2.Right message – Communication plays a vital role while targeting the right audience. Customers purchase the product only when the benefits of the product or service are communicated in the right manner.
3. Trust – In this present generation making a customer trust is a big achievement itself. if a product or service can do that then they do not have to spend much on marketing their product.
As word of mouth is what helps them to get more new customers on board for them and gradually the marketing spends will be reduced as customers are coming organically.
If Company, brand, or service can do that then it is a cakewalk for them in the market and then can sustain for the longer term.
We all must have heard from our Father, Brother, or friend. Gillette is the best in the market when it comes to getting a clean shave look. I am sure a lot of us have never heard any other name than Gillette.
This has passed on from generation to generation via word of mouth. We see very few ads from Gillette because word-of-mouth marketing is selling their products.
They have created trust among the audience and they are not replaceable that easily.
4. Pricing – A right pricing would always help you get more customers. You might lose out to a lot of customers in the market if the pricing is not right. Pricing of a product should be as per the market research and trends.
Lastly, the right product is what stands out in the market and it does not need marketing forever. Once it gains trust among the audience. The product itself sells among the audience without any marketing.
Digital marketing v/s Traditional marketing
Digital marketing is using digital channels such as Email, social media, websites, apps, SEO marketing. Digital marketing helps you to target the right set of audiences across the globe cost-effectively. It is more of a personalized way of communicating to the audience.
It is the best way to measure your ROI. One more advantage of digital marketing is it can be measured from which source the customer has been acquired.
But at times ads might be annoying or repetitive. Also, digital marketing is very dynamic in nature one should always keep updating with current trends else it is tough to make an impact with the audience.
Zomato is one brand that has the best digital marketing presence.
Traditional marketing involves channels like Tv commercials, billboards, newspapers & magazines, pamphlets, and radio.
Traditional marketing is impactful, memorable but hard to measure and no direct interaction also it is a very expensive mode of marketing. But the reach traditional marketing has through television commercials even digital marketing fails in that aspect.
Coca-cola is one example that is still into traditional marketing.
CATT Marketing funnel
Wealth = n^CATT
Niche:– Niche is the most important area to find out in any business. Once you find out that you can start executing your ideas with your niche selection. A successful niche helps you in achieving your financial goals. Your niche should be a combination of talent, market, and passion. It is the right set of your target audience.
Content:- Content is the backbone of your product or services. Better than the content you post you can attract more audience. The right way of doing it is Blog posts, videos, lead magnets, webinars, etc.
Attention:- What is the use of your blogs when you cannot drive the audience. To get the attention of the audience it is important that we work on Seo, social media, paid ads, referrals, etc to drive the audience towards your product or services. More than attention from the audience higher the chances of acquiring them as customers.
Trust:– In today’s digital era if you have won the trust of your audience then it is quite easy to sell any product or service. The trust that you have built with your audience helps you get referrals and helps in word of mouth. The right way of doing it is through personalized communications, marketing automation, and retargeting.
Transaction:- The most important part of any business is converting your audience into spending for your product or services. Let’s say I have a built 10,000 list of leads but what is the point if I cannot make them spend for my product or services.
The right way of converting your audience into customers is through natural sales methods like sales webinars and sales pages.
A most important factor is to keep communicating with your existing customers and also acquiring new ones through new products, services, and ideas. Your primary goal should be to sell as many products, services, or ideas to your customers.
Integrated Digital Marketing
Integrated digital marketing consists of various marketing strategies. Content plays an important factor and is linked to SEO, email, and social media. Paid marketing boosts the entire process by acquiring more attention from the audience.
Content should help in building trust and help gain value from the customer. Once you’re successful in building trust with the audience you can showcase your products to them. Eventually, they will purchase your products or services.
Personal branding is creating an impact in the market and people’s minds. Personal branding is like creating a unique position in the market. People trust you more if you’re brand. A personal brand can give rise to many other brands from his/her influence. Personal branding is more like how you show it to the world.
Mass trust blueprint:- it consists of 6 factors.
1. Learn:– It is very important in the current age you learn a new set of skills. It is important to learn new concepts, facts, procedures that keep you updated with the market.
2.Work:– Once you learn a new skill it is very important to execute them and work on them. Once you apply the learned skills it helps you gain authority over it. You can implement your new skill in a job or freelancing project.
3.Blog:- Building your personal brand begins with a blog. If you write what you have learned and executed in real life that’s the first step towards building a personal brand. You can write how you learned a new skill and the process of implementation.
4.Consult:- Once you gain the required skill set and experience you can help people and businesses with a consultation.
5.Mentor:- With all the skills and experience over the years now you can be a Mentor and start training people with new skills. Mentorship helps in building your personal brand as well.
6.Startup:- Now that you have so much experience, knowledge, and understanding of the needs of the audience. You can build your own product or service.
Last but not least marketing principles remain the same over the years only executions keep changing from time to time.
This article is part of an assignment for the Digital Deepak internship. Are you planning to enroll in a Digital marketing course? Your transformation begins here Digital Deepak