Fundamental of Marketing
Today, I will go in-depth with five main points of marketing which must be known by every marketer.
- The fundamental of Marketing
- Digital Marketing vs Traditional Marketing
- CATT Marketing Funnel
- Integrated Digital Marketing
- Personal Branding: MassTrust BluePrint
This article is for all those who are from a marketing background and wants to learn about how marketing exactly works.
The Fundamental of Marketing
At first, let’s understand what is marketing?
How will you define marketing ?
Marketing is all about how we understand our customers and how intent we able to make a good connection with our customers. A good marketing Plans starts with an understanding of the core components of the business. The core components such as Revenue, Cost, Product, Customers.
Let’s see what are the stages in The entire customer journey. The entire I mean to say from the time when the customer gets aware of the product and till the purchase stage.
The Customer Journey:-
It is in five stages:-
A. Awareness
B. Interest
C. Desire
D. Action
E. Post Action
Let’s look one by one what exactly it is.
A. AWARENESS:- This Stage is all about creating brand awareness about your product or services. How and when a customer first becomes aware of you. Here we need to describe the product to a targeted audience by seeing the buyer persona.
B. INTEREST:- Once the customer knows about your product then the next step is to make them interested in your product. Here you have to give the key benefits of the product and whats makes your product unique from others. The key to the Interest stage is to make the problem personal so that you’re only speaking to the prospect and no one else.
C. DESIRE:- This stage came when a customer knows about you and your product offer. Now here you have to develop customer general interest into purchasing intent. Here you will tell how you will solve the problem of your customers. Here, you will tell your customer how this will fulfill your needs.
D. ACTION:- This stage reaches when your customer knows about you, wants your offer, and are ready to take action. This step is only possible if you succeed in creating a desire for a customer regarding your products or services. Here you can also create a sense of urgency by giving some good deals and offer to your customers. You can also give some bonus who will register first.
E. POST-ACTION:- The steps comes when a customer already takes the action. It is very necessary to make a good connection with the customer even after when the customer makes the purchase.
Digital Marketing Vs Traditional Marketing:-
What’s the difference between the two? Which one you should choose?
Digital Marketing is one where you do marketing through a digital medium such as a website, social channel, running ads, Email marketing, content marketing, etc.
Whereas,
Traditional Marketing is one where you market through traditional channels such as Newspaper, Billboards, radio, etc.
Which one you should choose is based on what types of marketing suits your product.
For example -
If you have to target a very wide audience then it is better to target through TV Ads.
If you have to target the farmer then it is better to target through radio because maximum farmers listen to the radio.
Digital Marketing is best if we want to target a particular location or by selecting a different option such as gender, income, interest, etc.
So, you have to understand your consumer and target accordingly, and choose which medium is better.
CATT Marketing Funnel:-
CATT stands for Content, Attention, Trust, and Transaction. This framework needs to follow as a digital marketer especially when you are trying to build a personal brand to establish an online business.
Wealth = N ^ CATT
where —
N — Stands for a niche. Your Success and Wealth depends on the niche.
C — Stands for Content. You need to create useful content that attracts people from your niche. Content can be made through a blog post, video, Lead magnet, live webinar, etc.
A — Stands for Attention. It drives traffic to your content using Seo, Social media, Paid Ads, and referrals.
T — Stands for Trust. Build trust with your audience with tripwires, marketing, automation, and retargeting.
T — Stands for Transaction. Converts your leads into customers with a natural sales method.
Integrated Digital Marketing :-
Integrated Digital Marketing is a marketing strategy where you drive traffic from all channels. It blends all the marketing strategy.
The above diagram shows the framework of Integrated digital marketing. The following is a combination of Integrated digital marketing:-
(a) Preparing quality content and sharing it on social media.
(b) Getting People from Social media and brings traffic to the blog
© Collecting the email address through the blog and sending them a quality email.
(d) Running Ads campaign and driving traffic and connect with the like-minded user.
(e) Doing SEO of a blog to show the presence over the web. It also helps in building the authorities of the website.
(f) Finally, making a profit by making a sale through premium product, affiliate, and services.
Personal Branding: MassTrust BluePrint
What is Personal Branding?
Personal Branding is all about how you promote yourself. It is a combination of personality, experience, skill that you want the world to see you. For example — by the name of Baba Ramdev, I didn’t need to tell you who is he. I can say that a Personal brand becomes an influencer and the brand ambassador for the company they run.
The Evauation of Personal Branding : MassTrust BluePrint
Learn:- Learn a new skill through concept, facts, and Procedure.
Work:- Put your newfound skills to work. Go from practice to implementation. You will get a better understanding if you will practice in the real world.
Blog:- Write about what you have learned and experienced through your work. You will understand it better when you will write. It will also help in building your brand.
Consult:- Now that you have a personal brand through your blog, then you can start consulting other businesses.
Mentor:- Mentor others who wants to become like you. Mentoring will help you to scale your understanding to a new level.
Start:- When you will put the consistent effort into building your brand through consulting, mentorship, consistent work then now you can set up your startup.
In the end, I will say that Marketing is all about how well you understand your customer. You must dedicate to one niche, however, in beginning, you can experiment by working on multiple niches. And keep on learning new skills and new books through. Never stop learning. Follow the path and don’t look back, ultimately you will become a success.
To start your marketing journey, you can also visit here.