Did you ever wonder why marketing has a huge scope?
Don’t you know why Marketing people earn so high?
Want to know the secret behind it?
If you are interested to know the reasons behind it, read the article till the end. I have shared an idea of Worth “1 Crore” in the article. Hope you don’t miss it.
Let’s First Understand the Concepts of Marketing.
- Need for Marketing
- Role of Communication in Marketing
- Traditional Marketing VS Digital Marketing
- Digital Marketing – The New Way of Money Generation
- Personal Branding – You as a Brand
Marketing carries different meanings when found in different places.
Wikipedia says, “Marketing is profitably using the results of studying short term and long term needs of those who can pay for a one-time, or in most cases, a steady flow of service or product placement“.
To make it easy for you, I would like to define marketing in ways that I understood.
“Marketing is reaching the potential customers of your product at the exact time when they felt the requirement of it”.
Need for Marketing
Marketing has remained the base for businesses to grow. You cannot achieve growth in business if you are not doing any marketing for it. Marketing for business is similar to Food for humans. Every field’s companies require marketing to reach people and make themselves stand as a brand. So, you need to learn marketing if you want to grow as a brand.
Role of Communication in Marketing
Yes, Communication plays a huge role in Marketing. Without communicating, you cannot do marketing.
But, but, but……
Don’t confuse communication with Language skills. If you don’t know English, that doesn’t mean you don’t know how to communicate. Communication is the way to express your thinking and feelings in a way that others understand.
But yes, English has become the official language for businesses to communicate. So what if you are not able to talk in better English? You can start the same today. Want to know how? Okay, I’ll tell you. It is very simple.
Think in English. Yes, you read it right. Think about your daily habits in English. Thinking of drinking water, try for the sentence in English in your head. Like this, you will start to communicate better. And do this daily. Remember, “Experience comes with implementation”.
Traditional Marketing VS Digital Marketing
The World has seen a drastic change in the 21st century after the arrival of the Internet. Today, almost every household has access to the Internet. And this access had also made Marketing possibilities extended towards people through the means of the Internet, known as Digital Marketing. But then also, Traditional Marketing methods are not yet outdated as many people today, go more for traditional ways of getting information like TV, newspapers, and Radio. Digital Marketing can only accessible by those who speak affluent English. For India, this population is around 100 Million.
Learn about the benefits of Online Advertising by visiting the blog of Soniya Rohra.
Learn More about Digital Marketing strategies by reading this blog of Vinayak Warke.
Know More on Marketing Techniques by Snehal Jadhav.
Learn how to boost your sales through Dynamic Search Ads.
Digital Marketing - The New Way of Money Generation
Digital Marketing starts with a very basic idea, The Niche. Choosing the right Niche is based on 3 main factors:
The niche must be something that you found interesting to work for and with this, it should be the need in the Market to generate revenue from it, i.e., it should be profitable. Selecting a profitable niche and converting it into your business models will make you achieve money for it.
“Don’t be Number One, Be the Only One”.
The CATT Marketing Funnel
Now, the selection of Niche has been done. It’s time to make your Niche work for you. But how?
That’s what is explained in the CATT Marketing Funnel.
The First Step of this Funnel has been discussed above, i.e., selecting a Niche.
Now comes, the main 4 components of the CATT Marketing Funnel:
- Content: After selecting your niche, create useful content about what you know in that niche. Make videos, audios, blogs, courses, etc. that are needed to show that you know about the niche. Check this: 7 hacks on how to build Content and increase traffic on your site.
- Attention: After creating useful content, drive traffic towards your content using Digital Marketing Services (SEO, SEM, SMM, Referrals, etc.). This will make people know about your presence and the talent & passion that you have. And through this, your audience will remain engaged with you. Learn how to Rank Your Blog on Google’s First Page.
- Trust: Now it’s time to build trust with your audience. Keep your audience connected with you by using other services like Email Marketing, Marketing Automation, Retargeting, etc. This will help you to grow and maintain trust with your audience. You can check this blogpost on how trust converts into sales.
- Transaction: This is the most important step of the CATT funnel. Use the leads from the audience you gained and convert them into your customers using the natural sales methods. “Don’t ask for payment, ask for attention. The payment will automatically be done”. Check this blog on Do You Want to Sell Your Product.
And in the last step, use the money earned in the transaction again to invest in your niche. This is how the CATT Marketing Funnel works. And with this, Wealth is defined as “n^CATT” i.e., n to the power CATT, where n stands for niche.
Integrated Digital Marketing
Integrated Digital Marketing implies that “Content is the need and Content is the king”. Without content, all your marketing strategies will fail. Nothing can be achieved in Digital Marketing if you don’t have great content for it. Only content will help to generate revenue from all other sources of Marketing.
“This article is a part of an assignment of the Digital Deepak Internship Program. If you want to apply for the Internship of Digital Deepak, you can apply by Clicking Here.”
“So you came till here, reading this article on Marketing. It shows that you are a keen reader and also want to know about Marketing. There is a gift below for you, i.e., how you can make 1 Crore in revenue. If you have any queries regarding any topic discussed in this article, you can mention them below in the Comments Section. I would surely answer your query. And in case, you want to seek any help from me, then please go for the Contact Page. I would be happy to help you.”
You can explore more by checking the awesome blog of Bhavik Singh Minhas on Marketing.
Ankur Jeswani, the teenage Digital Marketer, has also written an awesome blog on “The Ultimate Guide to Marketing Fundamentals.”
Personal Branding - You as a Brand
The concept of Personal Branding is as simple as being a Political Leader. But the ways are different. In politics, You have to earn people’s trust first and then you can work for them if they voted for you. But, in Personal Branding, you first have to trust yourself, build yourself, and work on yourself. Then you will be trusted by the audience around you. People should know what you have for them, then only they will reach you.
Personal Branding is needed because people love to hear more from a person than from a brand. They want a face whom they can remember while recalling the ideas, and not a logo. “No one will have ever remembered anything said by Microsoft, but the ideas and methodology of Bill Gates are always remembered and praised by people”.
You can check this blog of a small-town boy becoming a successful entrepreneur.
Cons of a Personal Brand
- A personal brand cannot be invested in & cannot be sold. (Well!! No one would like to sell his own personal brand for sure.)
Pros of a Personal Brand
- A personal brand can become an influencer and a brand ambassador for the companies he/she runs.
- A personal brand can give rise to many other brands from his/her influence.
How to Evolve as a Personal Brand
This Blueprint is one that can help you evolve as a brand. Let’s discuss them one by one.
- Learn: It works in the given format:-
- Understand Concepts
- Remember Facts
- Practice Procedures
- Work: Implement all the skills learned in the real world. This will provide you a strong understanding of the concepts, facts, and procedures. Here are some tips on how you can be productive in your work as an entrepreneur.
- Blog: Tell people what you learned and experienced through your words in the form of a blog.
- Consult: Reach to people for Work or find people who want you to work for them.
- Mentor: Mentor others who want to learn from you and become like you.
- Startup: Start your own product or services’ business with the understanding that you have developed.
Bonus Tip: How to Make 1 Crore in Revenue
This is the most amazing formula I have come across to make 1 crore. If you follow all the above marketing strategies, then you can start with this formula of making 1 crore.
If you have a product/service that cost ₹100, you have to find 1,00,000 potential customers who are willing to buy it. Remember, “The lesser the amount, the more the customers”.
If you increase your product/service price to ₹1000, you need to find only 10,000 customers. So similarly, as the price increases, the number of customers will decrease.
But Remember, Your Product should be worth the price. It should impact your customer and the customer should feel satisfied after buying your product.
In this way, you will make a revenue of ₹1,00,00,000. And now, you have a customer base of at least 10,000 people, who have come into your funnel. You can promote your more valuable products and many of them will be interested in your products as they have bought something from you before and have built trust in you.
You can check this guide for building an empire through laws of marketing.
This was a tip provided to me by my mentor Digital Deepak and I am sharing the same with you today. Because I believe in “Promoting Knowledge rather than just grasping.”
“This article is a part of an assignment of the Digital Deepak Internship Program. If this article made any sense to you and if it will help you create any better opportunity for you, then let me know in the comments below. If you want to apply for the Internship of Digital Deepak, you can apply by Clicking Here.”