Looking to start a career in digital marketing? In this article, I am going to share my learnings on digital marketing topics that I learned from digital deepak internship.This article covers following aspects such as marketing,economics and branding.
Why is learning digital marketing important? When you learn a subject, you may not know how many years it lasts but marketing will last for many years because a product should need sales and marketing.To start a business, market research is very important. Market research will help you gather information about customer needs and preferences.
There are a lot of factors which decide the target like population,number of internet users, etc.Social media is a tool to connect with your customer.You can improve your business through facebook ads,instagram, and blogging. My major learnings on week2 are:
1. Law of marketing
2. Learn and master marketing
3. Building a strong brand
4. Importance of communication skill
5. Indian economics
6. Digital vs Traditional marketing
7. The CATT marketing funnel
8. Integrated digital marketing
9. Personal branding
1.Law of marketing
The change in consumer behaviour is a key for the digital marketing boom. Nowadays, people consume information digitally through facebook, twitter, instagram. If you develop a product, based on customer needs, you don’t need marketing to sell the product it will start selling itself. The purpose of marketing is to build a strong brand and capture a position in the minds of consumers.
India is the second largest internet user base after China.India has 462 million internet users. It is expected that internet users in India will grow at least 50 million within 2020. In India, digital ads are rising at a very fast phase.Nearly half of the marketing will be digital. Marketing is not just about selling.It is also about keeping an existing customer happy by communicating with them so that they can remain a customer for life.
When you achieve a particular market position and when you have a very good brand then you don’t need to do marketing continuously. Every marketing activity needs to end. For example:when you think of chatting with your friend whatsapp comes to your mind because they created a brand.
“ If you force a customer to buy a product is hard work.Understanding the needs of the customer is smartwork”.
2. Learn and master marketing
Marketing is all about targeting and sending out the right message at the right time.If you want to remember something better do and teach. It will make you understand the concepts better. You should make sure that your thoughts are reaching customers through marketing. When you have a clear idea on a product and target audience, then marketing becomes easier. Product is more important than marketing. A great product sells itself.
As the world is growing digitally, marketing is needed for a product. When you have a great product and your target audience is right then your business moves to the next level. Marketing is the most valuable investment in a business because it gives direct return. Other factors like production,manufacturing is an expense and does not give return on investment.
Marketing cannot be outsourced completely to a marketing agency if you do so you cannot satisfy the customer needs. The founder should be a marketer. Every enterpreneur should learn marketing so that they put strategy accordingly. The important components of marketing are advertising, marketing and sales. Word of marketing is the best channel for marketing ever.
3. Building a strong brand
Building a strong brand is important in marketing. Each and everyone tries to position them in a particular category. Instead of being second and third in a category, try to be no.1 in a particular category.If you cannot be the leader in a category, be a leader in the sub category.
For example: If you think of operating systems, windows come to your mind and if you think of search engines, google comes to your mind. You have to enter into a competitive market but you should have a unique style so that your customers consider as better alternative.The key points for building a strong brand is
- Identify the target audience
- Keep your customers engaging through mails,facebook ads
- Once trust is build your leads will turn into customers
4. Importance of communication skill
If I am able to transfer my thoughts to my customers effectively, then the product sells itself. The more you write, the better you can write and speak. When you communicate with a large number of people, maintain good eye contact, convey your ideas effectively, and be conscious of what you are speaking.
Your customers would buy your product the way you speak and the content you publish in social media like Facebook, Instagram, and Linkedin. Your content plays a major role in selling a product. If you have a good product, then you need to communicate what your product is about then the product sells itself. To improve communication, read newspapers, watch news in english, watch other language movies with subtitles, read a book and write your thoughts, watch standup comedy shows, and sitcoms.
5. Indian economics
A country’s economy goes up as the average age of a country goes up. Every entrepreneur has to learn global economics. A country with a large number of young people and more internet usage will have an impact on the economy. India is projected to be the world’s most populous country by 2024.
According to Statista, India is the second largest online market in the world after china. It was estimated that by 2023, there would be 650 million internet users in the country. Majority of Indian users were between 20 and 29 years. That’s why the Indian market became big and the majority of the companies started focusing on India. For example: Major tech companies like Facebook, Google,etc., are invested in Reliance because of the massive internet population.
Developing countries like India have the advantage of very young average age people so the next generation of billionaries will be created in developing countries. When starting a business, it’s better to target a developing country than a developed country. As the average age of young people in India grows up the kind of opportunities in India is unpresentable.
6. Digital vs traditional marketing
| Digital marketing | Traditional marketing | |
| 1. | Promoting a business through online such as Facebook ads, Instagram etc., called digital marketing | Promoting a business through offline such as Newspaper, TV, Radio , Magazine called traditional marketing. |
| 2. | You can do deep marketing by keeping your customer engaging through social media | As the business goes offline, you cannot personalize your communication |
| 3. | Digital marketing is the best medium to reach affluent english speaking population with spending power 100 million users | Tv has a reach of 800 million people and newspapers has a reach of 465 million people. Whenever you are selling low end product traditional marketing is useful |
7. The CATT marketing funnel
The CATT marketing is a mass trust system. Building trust is important for digital marketing. People are not going to buy a product, unless they trust you. The only way to build mass trust is content, attention, trust ,and transaction.
Content: Your customer will trust you, when your content is strong. Content is more important in marketing. You can create useful content that attracts people. You can publish on blogs, youtube, social media, and webinar.
Attention: Once you put out your content, you need to get attention from your customer. There are different methods to attract your audience like SEO, Website SEO, Youtube SEO, Paid ads.
Trust: Instead of trying attention to your product, you try to get attention to your content first so that people pay attention to you and build trust. Once you build trust with your customer then do repetitive engagement. You need to hook the audience by sending them mails, asking them to follow you on Instagram, Facebook to get instant notification.
Transaction: Once trust is built then give them an offer that matches your niche then there will be a result. Convert your leads into customers with a natural sales method.
Niche: When you select a niche, you basically look at a group of people with common problems. Niche is a combination of passion, talent, and marketing. Your success and wealth depends on the niche you choose.
The effectiveness of your content attention trust and transaction determines how much wealth you create. You choose a good niche and then multiply the entire effectiveness using CATT.
8. Integrated digital marketing
Content is the central foundation in which you can grow integrated digital marketing. Search engine, social media, sales and copywriting, email list, paid advertising everything fits in the process.
Paid advertising is kind of boosting the entire momentum of email marketing, content, social media, and SEO. Since the entire momentum is boosted then people end up trusting with your product.
Each module of digital marketing is going to complement the other module and the whole thing works like an engine where you receive mass results.
9. Personal branding
Personal branding is very important to establish yourself. A unique combination of your strength, passion, and your purpose to work is personal branding. People want to hear from people not from brands. You should have a clear story about yourself so that people can remember you.
Downside: A personal brand cannot be invested and it cannot be sold
Upside: A personal brand can give rise to many brands from others’ influence.
For example: Mark Zuckerburg has a strong personal brand and if he chooses to start a company he doesn’t have a problem in getting customers because he has a huge number of followers. Obama, Amitabh Bachan, Bill Gates, Steve Jobs has one common thing called personal branding.
A personal brand becomes an influencer for the company you run. If you have a strong personal brand and with that influence you can create a sub brand.
Evolution of personal brand
To create a strong brand, you should go through the evolution process such as
Learn,work,blog,consult, mentor,startup, and teach.
Learn: You have to learn a skill to create a strong personal brand.
Work: Put your skills into implementation. When you implement your skills into action it will give you better understanding. For example: if you are learning SEO implement it in the real world it will clear all your doubts and make you an expert.
Blog: Write about what you have learned and experienced through your work.When you write you understand the concepts better. Without writing, you cannot build a strong personal branding. If blogging is executed correctly, it changes your life. There are many blogging tools that have made it easier.You can start sharing your thoughts,opinions with the world.
Consult: When you have a personal brand through your blog and having good experience you can give consultation to people. When people find value in your content you will get confident.
The fastest way to monetize your blog is to give consultation calls. You are selling your time for advice and start with free consulting. You can start understanding the market better. You can charge on an hourly basis once trust is built people will pay you for your advice.
Mentor: Mentor basically means group calls or teaching people in a group. You have to decide your target audience and then give consulting. Mentoring will help you to scale your understanding to the whole next level. Lot of people learn a skill and then try to teach other people directly which will not work.
Learn a skill and then go ahead work and then you write about it, consult other people like one on one consulting and then mentor a group of people. When you teach you will understand the concepts better.
Startup: Startup is all about leverage. You are going from individual to a company because more people trust you and you can leverage things and that is where you are moving from mentor to startup. It could be a service or product. You can also do consulting in a startup. Start your own product or service business with the understanding you have developed about the market.
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