Why will you learn marketing fundamentals!

Introduction: It is great to step into the second week of the DDIP. Experience is great so far. In this second weak  video I learnt about many new things like, road to 1 Cr., importance of communication and marketing fundamentals. As a student of marketing I learned many things in this session. According to me, understanding of market needs is very essential, also essential to give importance to the people/ customer or consumer as this is also suggested by Deepak Sir.

Before starting we have to understand what marketing is. Before the internet came the marketing was going on in a traditional way, but in the internet era marketing has also evolved in the digital age. In simple words marketing is the process of understanding the market needs and demand. By knowing this we can send the right information to the right person at the right time. By proper marketing strategy we can build trust, perception and brand among the end user, word of mouth is also a very good marketing strategy where my satisfied customer recommends their peers to use the product. In the digital age marketing is not only restricted to selling the product, but also it is the process of maintaining a relationship with their customer for future and also for their recommended potentials. 

Communication Skill: Communication skill is very important for a marketing perspective. Communication is a medium of exchange of thought and maintaining relationships. Earlier mentioned that marketing is sending the right information to the right people, but how could we do that without communication skill. Without proper communication we can not reach our audience. For a digital marketer communication with their lead is very important because it is required to inform the audience about the product or service. Writing is also a part of communication, that’s why Deepak sir constantly said to write something every week, so that we can improve our thought and writing skill. 

Digital Marketing vs Traditional Marketing:  Traditional marketing differs from digital marketing in many ways. In traditional marketing we see that the companies give the advertisement through offline mode in television, radio, banner and poster etc. 

Digital marketing is very dynamic and it has global reach in a single click. It is a medium of online mode. We observe that the companies run the advertisement through online mode by email, social media, Google search engine and website. 

In traditional marketing the reach of the product is local whereas in digital marketing the reach of ad is global. 

In traditional marketing the ad is running in one way, but in digital marketing we can connect the audience by various campaign strategies and with the powerful content.

Digital marketing is cheaper than traditional marketing. A small business owner can also afford the cost of a digital ad whereas it is very difficult to run an ad in television or newspaper.

CATT Marketing Funnel : From this session I have understood the concept of CATT marketing funnel. It is a very important factor for digital marketing. 

 

CATT stands for Content, Attaintion, Trust & Transact Framework. We can use this framework for any kind of online business like Affiliate marketing, coaching, brand building, SEO etc. 

Wealth = n^CATT

Here n - Niche. 

Content : Content is the most important and first step of the framework. A content can be anything, it can be a blog post or social media post or video or a podcast to capture the attention of the target audience. Content is also a point of the lead magnet by which we can generate lead for our business. 

Attention : After creating the content we need to get our audience to notice it, so that we can get the traffic organically or with the help of ads. After getting noticed the visitors become the lead and we get their name and email id.

Trust : Trust is the most important element of the framework, because lead does not buy anything from an unknown source. So, we need to maintain a good relationship with the lead so that we can get their trust and the lead becomes our customer when the sale starts.

Transaction: It is the final stage of the framework. After getting the trust of our customer, they start buying. We have to keep in mind one thing that a lead never thought of any other thing except themselves, so We have to understand when we can offer the product to our lead so that we can generate our sales to fulfill their need or demand.  

Niche Selection: It is very important to select a profitable niche. Doing one thing and becoming the master of that is better than doing multiple things. 

Selecting a good and profitable niche is very important for a digital marketer, it takes a lot to find a niche, because it can not come overnight. It needed much thought and practice to find a proper niche for himself or for a client. When we are choosing our niche we have to keep in mind three things, 1) Tallent (what I am good at), 2) Passion (What I love to do) and 3) Market (What is the market's need). 

Integrated Digital Marketing: Linking all the channels of marketing is very important, because only doing email marketing or only doing social media marketing will not give dream results. As we can see in the framework given below, first we need to have a content and after that we can start our marketing via email, Social media,  placing the content on top by Search engine optimization is required. We need to get the attention of our customer first through the content that is necessary and then we can start marketing through Paid ads, SEO, Email Marketing, & Social media marketing, after getting the trust of our lead we end up with offering or selling the product. It is also similar to CATT framework, actually CATT funnel executes through integrated digital marketing.  

Personal Branding: Mass Trust Blueprint

In this session I understood how important personal branding is. We need our own story so that people can identify,  remember and feel motivated by the story. A personal brand can be bigger than their company brand. As an example we can see that Elon Musk is a bigger brand than his company Spacex or Tesla.

Now the question is how to become a brand! To become a brand we need to practice following things.

Learn: First we have to learn a skill and need to get the mastery by practicing the same.

Work : After learning the skill we have to implement the same into work and start earning so that we can get the confidence and also get the understanding of working in the real world.

Blog: For building a personal brand writing is very much necessary because when we write about something we understand it better. So we have to write about what we have learnet and also experienced through the work.

Consult: After getting the necessary skill, experience and also creating the personal brand we can start consulting by offering services to the companies. 

Mentor: Now, after all the stages we can start  mentoring people who also want to be like us. Mentoring others also increases our understanding to a new level. 

Start up: After completing above steps now it is the time to launch the Start up. We can start our own business and we can offer our product or services according to our understanding of the market.

Conclusion: To sum it up, in this session I have learned a lot of new things. There are some new topics for me and those are well explained by Deepak sir.

  

Understanding of marketing fundamentals is very much required for a digital marketer, because marketing does not start with the product it started before launching the product and it is also the process of understanding the demand. 

In the new age marketing, it is not only satisfying the customer but also it is the process of keeping the customer for the long run. For keeping the customer it is very much important to know them and remember them as well so that the customer also feels that they are valued to the brand, that’s why the importance of communication skill is needed.

The framework of CATT funnel and integrated marketing is equally important for a digital marketer because these two frameworks are complementary for each other. From this session I have understood how to get the attention of people, how we can create trust on content and then how to end up selling.

In the last stage I have learned about the importance of making a personal brand. I have understood how people could be motivated by a personal branding story and also it is well explained how a personal brand can make a be bigger than his company.