7 things to learn about Digital Marketing.
Hello friend, how are you?
I hope you are healthy and safe at home during this pandemic😊
Today I have something really interesting for you. But before I start let me ask you something; have you ever heard about Digital Marketing? Do you also want to know how you can grow any business with help of DM? What are the key skills required for the effective application of marketing strategy?
Well, friends let’s have a look at some basic concepts of Digital Marketing.
Digital marketing is the use of the Internet, mobile devices, social media, search engines, and other channels to reach consumers. Some marketing experts consider digital marketing an entirely new endeavour that requires a new way of approaching customers and new ways of understanding how customers behaviour. Digital marketing targets a specific segment of the customers and is personalized to some extent and interactive. Digital marketing is different from internet marketing.
I. Traditional Marketing and Digital Marketing
The very basic difference between the two is the medium of communication.
Traditional marketing uses offline marketing platforms such as,
- Outdoor (billboards, bus/taxi wraps, posters, etc.)
- Broadcasting (TV, radio, etc.)
- Printed (newspaper, magazine)
- Telemarketing(Phone, text message)
- Display window, etc.
Whereas in Digital Marketing we have online platforms such as,
- Social media (Facebook, Instagram, etc.)
- Content marketing
- Email marketing
- Affiliate marketing
- Search engine marketing (SEM)
Traditional marketing is simple, easy to understand, memorable, applicable to a wider range of customers, but also it is more expensive, results are non-measurable and non-interactive with customers. On the other hand, Digital Marketing is cheaper, easy to measure, personalized and more engaging. But sometimes the ads can be annoying; it is less permanent and a bit complex.
Both forms of marketing are important and have their own benefits. We must select the right type of marketing technique based on their effectiveness and our area of application.
II. Fundamentals of Digital Marketing
a) Understanding Market
Marketing strategies are beneficial only if we successfully place the right product at the right place at right time. After understanding the customers’ demand, we must create a product that fits in the market so easily, that the product can sell itself. So marketing becomes easy for such products.
b) Knowing your customer
Knowing about your customers’ likes, dislikes, expectations, thoughts, beliefs, feelings and sentiments can help you plan a good marketing strategy, because “Marketing is based on science and not on creativity.” It is more about understanding human psychology than the ability to please others.
c) Understanding analytics
A businessman or a marketer needs to understand analytics very well. Because using analytics we can get an insight about any business, know about product performance and also predict future demand and sale, which can help grow the business e.g. Google analytics.
d) Targeting customers
Targeting your potential customers is a must. For example, luxury car brand companies do not advertise on TV ads because they know one who can afford this is not sitting in front of the IDIOT box. Studies have shown that marketing strategies planned on targeted customers were more successful than others. It saves our time, energy and obviously the amount spent on ads campaign.
e) Building trust and good relations
A company/brand should build the trust of customers by fulfilling their expectations and providing the best possible services and assistance to their customers while the deal is going on and even after the purchase has been done. This will build trust and lead to good relations with customers, which eventually return more profits indirectly.
III. Importance of communication skills
Marketing is all about good communication. To make an ad campaign successful or to do efficient marketing, it is highly important to communicate well. We must be capable of communicating our ideas and our vision to our customers. Communication acts as a bridge between the minds of marketer and customers. Therefore it’s highly important to focus on communication. Good communication doesn't mean good English which has heavy vocabulary and has complex sentences rather we must communicate in a simple and user understandable language. While writing for a marketing campaign we must write like we are talking to our customers, we must join the conversation in peoples mind and grab their attention. If you are successful in doing this, then you are a good marketer.
IV. Global economics
Global economics can majorly affect any local or global business. Hence it becomes necessary that we have a check on global economics along with our personal growth. The economy of any country goes up as the average age group of the country goes up (e.g. India). Hence it is always profitable to invest in a developing country. Also, to earn large profits we must focus more on targeting tier1 and tier2 cities because people leaving in these cities have high average income and hence more spending power than the others.
V. CATT marketing funnel
CATT marketing funnel is an important aspect of marketing skill. The CATT formula is given as;
Wealth = n^CATT where;
N = Niche
C = Content.
A = Attention
T = Trust
T = Transaction
Any business starts with a niche selection. Then we create content based on our niche selected. Then we grab the attention of customers by advertising and marketing. We build trust by retargeting and e-mail marketing. The customer purchases something and a transaction is completed. This process is recurring and it keeps on repeating.
VI. Integrated digital marketing
Integrated digital marketing is a holistic representation of various parts of DM. It clearly shows that all the fields of DM are interconnected. Hence we must not focus on a single aspect, rather we must consider it as a single system. Each section of DM is equally important and we must have an integrated approach to plan marketing strategies accordingly.
VII. Personal branding
There is a famous saying in Hindi “JO DIKHTA HAI VAHI BIKTA HAI” which means the famous one gets more attention and eventually gets more sales. Personal branding is very important when it comes to sales. If you have created your brand you can sell your product/service easily or do affiliate marketing or become an influencer as well.
Let’s learn how to create a personal brand….
Learn: Start learning a new skill. There are three steps of learning i.e. understanding the concepts, remembering the facts and practising the procedures.
Work: Implement what you have learned in the real world and gain extra knowledge (e.g. freelancing, job).
Blog: Write about what you have learned. When we write, we understand things better. While writing, assume that you are teaching someone, this will give you a deep understanding of the subject.
Consult: After you have gained knowledge and experience you can now start consulting others.
Mentor: Start mentoring others you want to become like you. Mentoring takes your understanding of a subject to a new level. Mentoring is nothing but an integrated version of consulting.
Startup: Now when you have a deep understanding of the skill, you can start a business/startup and sell your ideas.
Thank you for keeping patience and reaching to here, I hope you liked it. Today we have seen various aspects of digital marketing. We’ve learned what is digital marketing, the basic difference between traditional & digital marketing, some fundamental concepts of marketing, the importance of communication skills, global economics, CATT marketing funnel, integrated digital marketing and personal branding.
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So, guys, this was all from my side for now. Do let me know your reviews in the comments section. I hope we meet soon in my next article. Till then……