Fundamentals of Marketing – Modern day approach

I am writing this article to summarise my understanding and knowledge about marketing till now.

Once we hear this term ‘marketing’ what flows in front of you?

For me its TV ads, hoardings, the salesperson in a suit trying to convince to try their products, office seminars of vendors, etc.

But when I went deep into the concept I realised, “am I not too a marketer?”

When my brother plans to purchase a new mobile phone, I always recommend him to wait for a few months but this time buy apple only.

I also recommend my friends to invest into mutual funds using specific apps.

Affiliate Booster 728x90 Banner

I always recommend other things too to family and friends here and there. Am I not marketing for the products without any return?

You might also be marketing for shirts or car brands, food outlet to your friends and family, are you not a marketer too?

I developed interest into Digital Marketing recently just after COVID-19. In lockdown all businesses shut down but digital marketing was booming.

I think marketing has always been and will always be here because the world is going to have problems and somebody is going to come up with a product to address the problem and the product would require marketing to reach a large population.

In my quest to learn more about marketing and see if marketing can help me achieve the goals, I started my research on the topic.

In my journey to understand this field, I came across a well known digital marketing mentor, DigitalDeepak.

Mr. Deepak Kanakraju is offering a free internship program known as Digital Deepak Internship Program with a unique concept of getting paid for completing assignment.

You can read a detailed review of the internship program here.

I joined his batch immediately as what could be better than learning and earning your fees back and this article is a part of Week 2 assignment.

Henceforth, whatever you are going to read in this article is more from my understanding of the subject from the program and other resources.

The fundamentals of marketing

“The aim of marketing is to know and understand the customer so well that product or service fits him and sells itself.

The aim of marketing is to make selling superfluous.”

– Peter Drucker

Marketing is just not about the ads and hordings but it’s more of understanding customer and developing product/ solution keeping customer at the center.

Marketing is more about the right message, right person and right time.

Keeping existing customer happy by continuously communicating with them so they remain a customer for life.

Develop #MassTrust.

Build a brand and capture a position in the minds of customer.

And marketing should never take importance over product.

Advertising, copywriting and sales is a component of marketing.

A great product converts customer into brand ambassadors. Customers themselves become best channel of marketing.

Marketing just helps discover product and have a good perception of the product.

Why learn and invest in marketing

Marketing has been here for years and will be till humans exist on this planet.

Because humans will always have some or the other problems, someone will come up with the solution and that solution needs to be reached to masses, and that needs marketing.

Therefore, marketing has a large self life as it is rooted in human psychology and understanding.

If you have a solution or product for a problem, then marketing is the most valuable investment in your business as it gives direct result.

If you are a founder of business and know to market and sell, you have a safe secret.

Marketing will make you more aware of the customer and you will make better decisions.

Traditional Vs Digital marketing

The CATT marketing funnel

The way to create wealth goes through CATT marketing funnel.

The formula to wealth is WEALTH = n^CATT where,

[n] Niche: Your success and wealth depend directly on the niche.

[C] Content: Create useful content that attracts people.

[A] Attention: Drive attention to your content using SEO, Social media, Paid ads, and Referrals.

[T] Trust: Build trust with Audience with automation and re-targeting.

[T] Transaction: Convert leads into customers with natural sales method.

How to choose right Niche?

Choosing a right niche is half battle won.

Niche is the combination of Talent, Market and Passion.

You can find your niche by finding an answer to the below

Passion:

What interest’s you. What you can work on without getting bored.

Talent:

What skills you possess. Skills you have acquired after years of experience.

Market:

Is there a market for your passion and talent? Are their customers who will pay for your products and services?

Once you saturate in a niche, you can get to other niche and use the same formula.

Integrated digital marketing

Time has come when we cannot go ahead treating different methods of digital marketing separately.

You cannot expect to get sales just by concentrating on content marketing, SEO or paid advertising only.

You need to integrate all marketing methods into one machine which works together.

Have content at the centre and then you drive attention through paid advertisement, SEO and social media, you build trust using email marketing and finally transact through sales and conversion.

Power of Personal Branding

The best known will always beat the best.

People want to hear from people, not from brands.

Elon Musk has a bigger following than SpaceX and Tesla.

DigitalDeepak is a bigger brand today than many digital marketing companies because its personal and deep.

Personal brand can give rise to many brands from its influence.

Personal brand becomes an influencer and a brand ambassador for the companies they run.

Evolution of a Personal Brand

Learn: Learn new skill through concepts, facts and procedures.

Understand the concepts, remember the facts and practice the procedure.

Work: Put your new found skill to work.

Blog: Write about what you have learned and experienced through your work.

Consult: Start consulting other businesses instead of working for them.

Mentor: Mentor others who want to become like you.

Mentoring will help you scale your understanding to a whole new level.

Startup: Startup your own product or service business with the understanding that you have developed about the market.

Conclusion

Marketing is to stay here, it’s just that medium of marketing would change.

Core to marketing will always be how well you understand your customer.

The fundamentals of marketing will always be relevant and if you want to make a career in digital marketing, then it’s very important to know this basics clearly.

Advantage of digital marketing is that you can target your customer, track and analyse in real time.

Choosing the right niche and CATT marketing funnel is the key to creating immense wealth.

CATT marketing funnel and Integrated digital marketing framework are the two important methods to market online.

Personal branding is the new age marketing technique. Personal brands creates #MassTrust.

Personal brand evolves through MassTrust Blueprint of learning, working, blogging, consulting, mentoring and startup offering your own products and services.

This was my understanding of modern day marketing. Will come with more articles as I progress in the Internship. Do comment and let me know your view.

Finally, start learning and blogging.

Leave a Comment