Be a Marketer First then a Digital Marketer
I will cover what is Marketing,Customer Lifetime Value (CLV), how to make 1Crore?, Marketing funnel,Direct Response Marketing, how debt creates money?,Traditional vs Digital Marketing, Integrated Digital Marketing & Personal branding..
What is Marketing ? Its very important to understand Marketing. Many startup companies fail because they do not understand Marketing and they outsource Marketing agency to market their products and services which is totally wrong thing and they fail. Marketing Starts before creating the products. It starts with understanding the customer and customer's needs that leads to creating a product that fits. Marketing is not just about selling. It is also about keeping an existing customer happy by communicating with them so that they can remain a customer for lifetime and company gets Customer Lifetime Value(CLV).
What is Customer Lifeime Value ? Let me explain about CLV as this is an important aspect of Marketing. CLV is sum of economic benefits that can be achieved by building a long term relationship with the customer and always need to remember that scepticism does not go on to make a healthy relationship and never be extremely judgemental hence its very important to be a marketer first.
As per Peter Drucker - "The aim of Marketing is to know and understand the customer so well the product or service fits him and sells itself...the aim of marketing is to make selling superfluous"
How to make 1 CR? Marketing is a game of perceptions. Never let marketing become more important than the product. A great product sells itself. A great product converts your customers into brand ambassadors.Word of Mouth marketing is the best channel of marketing ever. I believe - do not be the No.1 ..be the only one.. Build a strong brand. Here niche selection and audience building play an important role. I am giving you an example of how to make CR? Its not too tough only you need product that fits the requirements of your customers and you need to keep product pricing very competitive with value add-on then people will buy it for sure. For an example if your product/service price is Rs.100 and if you have 1 lac customers purchased then you will earn Rs. 1 CR and you will get good revenue out of it depending on your niche. So first is niche selection and then build up audience is our main target to earn 1 CR. Similarly if your product price is Rs. 1000 and if you have 10,000 customers purchased then you will earn Rs. 1 CR. I hope this is clear.
CATT Marketing Funnel? We should know the wealth creation formula i.e. n^CATT. Here n for niche and now what is CATT. This is a marketing funnel we should use and this is very powerful for inbound marketing. C stands for content as we all know content of your product /service is very important to make a purchase decision for buyers and then A will come. A stands for Attention - drive attention(traffic) to your content using SEO,paid ads, Social Media and referrals. Then T for trust, if you keep attention to your audience then only you can build trust. Here I will say MASS TRUST is very important for bulk sell. Then Transaction (T)...This is the customers buying process. So, value first and sale second -we should follow this rather than sale first. Here most of the companies fail as they try to implement Sales first.
Direct Response Marketing? Now I should write about Direct response Marketing. Direct response marketing is a type of sales technique designed to evoke n on-the-spot response and encourage a perspective customer to take action by opting in the advertisers offer. Unlike other marketing types, the direct response requires little or no time waiting to see measurable results. I am giving an example to understand it better like n ad in the newspaper with a phone number to call or a late night infomercial with a phone number to call and order.
How Debt Creates Money? First we need to understand that there are 2 types of debt. Purchasing stuff using a credit card or owning a home and Investing in a Business or Real Estate as an investment.Let’s first understand that using a credit card to purchase something you can not pay for with money you have at hand, increases your debt. You get nothing of great value except the power to purchase using bank funds.When you own your own home, you are in debt to the bank until you pay it off. Yes, you have some money in your home known as your equity however equity makes you no money in return for keeping it lockup. If you use money, your own, your friends, or the bank and you invest it in a business that makes money selling a product or service. You are leveraging your money to make money. As long as the business is profitable you will make a return on your investment. The other side of debt is using money to purchase real estate properties so that you can rent them out. Sure you have debt but that debt is just to purchase the property and the property makes money as it’s rented. Because there is an income from the property, you are leveraging your money to make more money.
Traditional vs Digital Marketing? The main difference between digital and traditional marketing is the medium through which an audience encounters a marketing message. Marketer uses traditional marketing style like placing ad in Magazine,newspapers,television ads, bill boards to interact offline with audience where as digital marketing is the best medium to reach the affluent English speaking population.
Integerated Digital Marketing ?Integrated Digital Marketing is, as it sounds, the integration of multiple marketing strategies to form a cohesive online approach for your business. Hers is what it typically entails : 1. Search Engine Optimization & Search Engine Marketing. 2. Content Marketing. 3. Social Media Marketing. 4. Local listings. 5. paid advertising (pay per lick) campaign. Integrate all the components to get higher traffic in business.
Power of Personal Branding? Personal brands help establish credibility, increase your online influence, secure work and grow your career, generate sales, attract potential partnership conversations, attract employment opportunities and expand your professional network. We all know about Digital Deepak (Mr Deepak Kanakaraju), he himself is a strong personal brand in the field of Digital Marketing and Number 1 trainer in Asia.
Conclusion : If we follow all the steps as mentioned, I am sure, we will get RETURN and can transform one's life forever. Re -wire,re-invent & Adapt - need of the hour. Be an influencer in your area.
Readers.. i want you all to implement.