Digital Marketing is coming. Are you prepared?
Are you curious or interested to know about Digital marketing?
Then let me tell you, you are in the right place.
So what is Marketing?
First, let’s look at an example-
McDonald’s started as a small restaurant with only nine items on the menu. Today, McDonald’s has the largest market share in the fast-food industry. Since its Happy meal toys focus on advertising towards children -including their toys, it results in 20% of their sales. The kids talk about how they enjoy getting a toy with their meals. The way they use toys and other children-friendly products is a part of marketing their brand, one might say that it’s simple yet so brilliant. People don’t care about how their burgers are, instead they focus on how amazing the experience that comes with it. McDonald’s markets towards family and children and presents itself as a fun place to go with your family. Staff is encouraged to be friendly and provide service with a smile. These things are all part of their marketing.
This trick is called marketing.
“Good marketing makes the company look smart. Great marketing makes the customer feel smart.” — Joe Chernov
In a simple way Marketing is a specific strategy to get potential customers or clients interested in your products.
It is a process or a chain of activity in a definite sequence. Each link in this chain is equally important.
Let’s learn more about these links or stages in marketing-
- Pre-production Planning — Right from the question of whether there is demand for such a product, from whom, where, at what price, etc., to find out similar competitive products, the manufacturer finds the relevant data through market research.
- Production & Packaging — Once pre-production Planning is done, the stage is set for going into production. Even packaging is finalized in this stage. Production is taken on to conform to the planning in terms of product quantity in different pack sizes, colors, shades, flavors, etc. as per the type of the particular product.
- Distribution — If the market for a product is limited, then the manufacturer can sell directly to the customer with the help of a salesforce or even in its absence through general or direct mail advertising. But when the product is a consumer-oriented one, the channels of distributors are usually wholesalers, sub-wholesalers, and retailers, depending on the type of the product.
- Transportation — Once the distribution is completed, the next stage is the transportation of the product to the various links right up to the retailers.
- Advertising — Once the product is with the retailers or the distributors from whom it will go directly to the customers, the next immediate stage is advertising, without which a customer will not know, in case of a new product that such and such product is available at such and such price. All the principles of advertising are applied according to the need of the product and the campaign is launched to result in sales.
- Sales — Once the product is advertised and advertising is persuasive enough, it will result in the customers purchasing the product,
- Consumer Reaction — The manufacturers must gauge the reaction of the customers so that should there be any cause for dissatisfaction, the same must be rectified immediately without much loss of reputation or sales.
- Product Development — Most of the fields in manufacturing are today highly competitive, more so because of advertising. Under the circumstances, the manufacturer will always have to be on his toes to see what the competition is doing, what incentives or better benefits it is offering, etc.
The stage of product development is very similar to that of the pre-production planning, and this chain of marketing activity is virtually a circle.
TRADITIONAL VS DIGITAL MARKETING
TRADITIONAL MARKETING -
Traditional marketing is a conventional marketing strategy that uses various offline promotional and advertising methods to reach customers. We come across different forms of traditional marketing every day, such as newspaper ads and billboards.
The major categories of traditional marketing are –
- Print ads in newspapers, magazines, books, leaflets, pamphlets, brochures, etc.
- Outdoor ads such as billboards and flyers
- Broadcast ads on TV and radio.
Advantages of Traditional Marketing
- An engaging TV commercial or a colorful billboard ad is easy to understand and remains in the customer’s mind for a long time.
- Putting ads in local newspapers, FM radio stations, and flyers or pamphlets are very effective for attracting local customers.
Disadvantages of traditional marketing
- No direct customer interaction with the masses. You won’t be sure as to how the customer will react to your ads or campaigns.
- Posting ads on TV, newspapers, billboards, and magazines are often expensive.
DIGITAL MARKETING -
Digital marketing refers to all the marketing strategies that are executed online on various electronic devices. As the internet is perhaps the most common form of technology used by people, digital marketing can be used to connect to millions of potential customers worldwide.
The major types of digital marketing are as follows –
- Social Media Marketing
- Content Marketing such as blogs and videos
- Pay per click advertising
- Email marketing
- Affiliate marketing
Advantages of Digital Marketing
- The interaction with your customers is high. If you launch an ad campaign on a social media platform, you can see what everyone thinks about your brand through their comments, shares, likes, etc.
- You can easily measure the effectiveness of your campaigns through tools like Google Analytics.
- It is cheaper than print ads and TV commercials.
Disadvantages of digital marketing
- Digital ads, emails and social media ads are not permanent. They can be ignored and the user does not have any copy of them. If you fail to grab their attention, they will scroll away to something else
- Some ads may seem annoying to customers and they may deliberately ignore it, hide it or remove it
- Creating, launching, and managing online campaigns is a time-consuming job. Plus, your entire marketing strategy is dependent on the internet
CATT Marketing Funnel and Framework
- Wealth = n^ CATT
- [n] Niche = Your success and wealth depend on the niche you choose.
Your niche = Talent + Market + Passion
[C] — CONTENT — Only creative, new, and useful content attracts people.
These are the various channels where we can publish content-
- Social media like Twitter, Facebook, Instagram, etc.
[A] — ATTENTION — You can drive traffic to your content by using -
- Social media
- Paid ads
[T] — TRUST — Building trust is the most important and difficult part. Trust builds with repetitive engagement.
[T] — TRANSACTION — This is the most important part because profit comes from the only transaction.
People will not buy from you because only they trust you. You must have a good Offer + Need Combination.
So, that’s how this framework works, once you got Transaction then you can invest profits back into content creation and make more and more sales in the future.
INTEGRATED DIGITAL MARKETING
Integrated means two or more things combined to become more effective. Integrated digital marketing is using many different strategies at the same time.
The means of communication are:
“Products are made in a factory,
but brands are created in the mind.”-Walter Landor
- Your brand gets an identity.
- You recall your business value
- You reach a new audience.
- You can create trust within the marketplace.
So let’s recall the McDonald’s example, coca-cola is their drink supplier. It leveraged the expansion of its audience through co-branding its techniques with coca-cola.
The evolution of a personal brand
- Learn: Learn a new skill through concepts, facts, and procedures. Understand the concepts, remember the facts and practice the procedures.
- Work: Start implementing what you have learned. Implementing it in the real world will give you a better understanding.
- Blog: Writing about what you have learned and experienced through your work, will help you to understand better and it will also start building your brand.
- Consult: Now that you have a brand through your blog, you have learned fundamentals and you also have work experience, now you can start consulting other businesses.
- Mentor: Mentor and motivate others who want to become like you. Mentoring will help you scale your understanding to a whole new level.
- Startup: Now that you have skills, you have worked and consulted, and have experience, you can start your own business.
HOW COMMUNICATION SKILLS HELP IN MARKETING!
- Communications are important to promote business.
- It helps to build and maintain relationships with customers and clients.
- It helps to convey your ideas to your clients.
These all will help you to build your brand. After you have a brand you will have many clients and customers.
“People relate to people, and if your brand feels like people, they’ll relate to you, too.” -Laura Busche
Every day we use products from advertising: from clothes to soaps. Marketing forms consumers buying decisions. Frequently we do everything following marketing trends: where to go for coffee, what to buy for dinner, what model of phone or snickers to buy, etc.
With the help of marketing, people become more informed about everything. It helps us to figure out what and where we can buy something. Also, with marketing people gain the opportunity to choose from a huge variety of products. Almost everyone can decide what exactly he/she wants to buy. Marketing has made it easier for us in our day-to-day lives.
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