Do you know personal branding could boost your business growth?
In this article, I am going to talk about how personal branding is going to help with a solid start for your digital marketing businesses. There will be many challenges a startup could face in the initial stage. Isn’t it amazing if the business gets benefited from personal branding during the difficult phase.?
We will also talk about marketing laws and what is the difference between digital and traditional marketing and tips for selecting the right marketing model which would help you with personal branding This article will be useful for those, who want to learn about digital marketing.
The fundamental of Marketing
Law of Marketing
What is marketing? What are the laws related to Marketing? It is about researching the market to find out what people want and creating and delivering the product at the right prices.
Marketing involves sending the right messages to the right people, at the right time. Marketing is not just selling a product.
Marketing is science, not creativity. Marketing could start long before a product is created. it also involves taking feedback from the customer on whether the product /service satisfied their requirement. A quality product that fits the user requirement, doesn’t need much marketing efforts. For example, Companies like Apple, whey won’t spend money advertising its products in the entire product cycle.
The other objectives of marketing are building trust, building brand, and capture position in people’s minds. Mass Trust nothing but building trust with a lot of people.
WHich is the best tool for trust-building in digital marking?. Its email. Personalized email help to build customer trust. The Drip email sends at regular intervals to build trust that helps you to move a prospect to purchase.
Why do we need to learn Marketing?
This a million-dollar question. Everybody needs to be a marketer in this world to be successful. For example. a candidate who attends an interview needs to market him well to ensure a job.
Since marketing is Rooted in human psychology and involves understanding the market, changing perception, it can be only handled by humans, not by a robot. These things can not be automated easily either due to the dynamic nature of the market and customer perception.
Unlike other functions, The marketing dept in a company gives a direct return for its investment.and it provides immediate ROI.
Marketing is the most critical function and works as the backbone of a company, The marketing activities can not be outsourced. You can find the founders of many companies are a good marketer too.
Digital marketing vs. Traditional marketing
How digital marketing is different from traditional marketing? The fundamental difference is the media through which the audience sees the marketing messages. Traditional marketing uses magazines billboards and print media for advertising products, digital marketing uses social media or websites.
Until the development of the internet in the 1990s, traditional marketing was the only marketing available. Think about Sachin Tendulkar or Virat Kohli in Coca Cola TV commercials during a Cricket session which we all had enjoyed a lot.
Now things have changed over time and people started spending more time on the internet. According to ClickZ, “Internet users now make up 57% of the global population. On average, people spend 6 hours and 42 minutes online each day. By 2021, a projected 73% of all e-commerce sales will come from mobile ”.
Traditional Marketing has still played a big role in many areas due to the physiological impact it had created.
The key to a great marketing campaign is to find the right balance between traditional and digital. Both play an important role in a marketing strategy.
Impactful and easy to understand- A billboard or TV commercial is a normal part of day to day living, it’s easy to digest and entertaining
Printed marketing materials are more permanent- Traditional ads stay longer compared to digital ads.
More memorable-A billboards or TV commercials will stay a longer time in memory compared to Facebook or Instagram ads.
More difficult to measure campaigns- sophisticated tools available to measure marketing campaigns in digital marketing.
Often expensive-Digital marketing is cheaper as compared to traditional ads cost.
No direct interaction with the consumer-Unlike social media marketing, there is less or no audience interaction in traditional marketing.
More options for engagement- social media give more options to respond to ads
Easy to measure your campaigns-Easy and in-depth tracking is possible
Makes clever targeting -you can use a Tailored campaign to target a specific set of people.
Digital ads are annoying things -Digital ads are sometimes annoying
Less Permanent -Digital marketing efforts like Google ads, banners, promo emails, or social media ads are intangible and can be easily ignored.
Constantly evolving -To get the most out of your digital marketing efforts, there is a lot to learn.
Find which one works for you
Ultimately both types of marketing have their benefits and downfalls which marketing model is suited for your business is determined by the specific need, your ad budget, and Targeted Audience.
Importance of Communication in Marketing
Communication is an art of transferring your thinking to your audience. It can be done in many ways and depend upon the model /technology used to communicate the message.
A good marketer needs to be a good communicator too. He/She needs to interact with the audience to understand the requirements, build trust with the prospect, taking feedback from the customer on the performance of the produce and future requirement.
Here are tips for better communication
1 Write as you talk Write as you taking your audience, in a simple English
2 Join an existing conversation To understand the problem, we need to join an existing conversion to understand what they want
3 Listen to your customer. You need to listen to the customer to understand them better, to understand their requirement and concern.
4 Write daily. Writing gives more clarity in thinking and good for your nervous system. it makes you a better speaker.
My experience in Marketing /sale /branding In my 20 years of experience, I never handle any Marketing or Sales Role. Currently, I am learning digital marketing from Digital Deepak. I find the course is interesting, and they took the unique adopted to teach others on digital Marketing.
Economics The Way I understand It
Business decisions should be based on Economics. Before starting any company, you need to research the economic condition of the country where starts the business.
Business growth depends on the younger population of that country the section of the population who do purchase. Economics growth is related to the purchasing power of the people.
A developing country where the younger population is very high and cheap resource availability makes India a hot destination for investor /business
Does debt create money? yes. When you deposit money in the bank. most of the deposited money blended out by bank based on CRR, This will create cashflow
For Example,10 lac can create 1 crore cash flow keeping the CRR is 10%
During the recession, Govt tends to decrease the interest rate so that people can avail of a loan which leads to better money flow.
The government depreciates current value to attract more foreign money which also helps companies to export produce /service. The downside of this is the brain drain.
Recession creates a strong company and removes weaker ones.
India is one of the major developing market economies in the world, 5th largest economic power based on GDP and 3rd largest in purchasing power. Indian Economy can be categorized into three based on annual income.
India 1 people with an annual income of 5 Lakh
India 2 annual income between 1-2 Lakh
India 3 Up to 70 thousand
Here, the Purchasing power is determined by India 1, they can speak English and own a car and Laptop. They make international trips and live in 10 major cities in the country.
Business usually targets India 1 for making money and then target India 2. India 1 has a 23 million household with 110 million people.
CATT Marketing Funnel
The formula for Wealth =n^ CATT. N-Niche which decide the success and how much wealth going to be created
CATT framework can be applied to any type of digital marketing businesses, be it content marketing or affiliate marketing
C- Content, can be a blog or social media post or video to capture the audience’s attention. it’s the center of all digital marketing. it helps to create trust and attract your audience to the solution you have for their problem.
A -Attention, you need to drive your audience to the lead magnet which is the content, could be a blog or video or email. Audience consume the contents and become leads by sharing their contact /email ids
T- Trust is need be created before they transact, People only buy from the people they trust the trust is created by email marketing or retargeted ads
T-Transact -this is the last and most important phase of the CATT framework. You make an offer to the lead in this phase, you can use lead profiling and scoring to determine the offer time
Niche selection -A niche is the area of your expertise where you know what to specialize in. Niche selection is very important to start a profitable business. Most online companies select a broad niche and then focus on a narrow niche.
You can follow the below steps for selecting a suitable niche for your business.
- Identify your passion and interest, you should have worked in this area before.
- Identify the problem you can solve
- Research on the competition
- Determine the profitability of your niche
- Test your idea
Brand Building – People remember the number in a product category and purchase from the number one . if you can not be number in a category, try to be a leader in a subcategory. Enter in a competitive market with a unique angle, which is never tested by your competitors.
Personal Branding: MassTrust Blueprint
Personal branding is very important in the initial stage of any business. it would boost your business growth as more trust is created
Best known will beat the best
People want to hear from people not from brand/company and they will remember it for a longer time.
For Example. Elon Musk has a bigger follower than his companies as more people are listening to him.
Evolution of personal brand
Learn – Acquiring a new skill is the first step in brand building. e g. You can learn digital Marketing from Digital Deepak by attending the Video resources.
Work – Work with a company where you get the right experience or as a freelancer, to understand more about the newly acquired skill through working.
Blog – After you got enough experience, you can start writing a blog. Identify your Niche and start to write a blog around your Niche. You can improve your skill over time.
Consult – Once you gather enough experience from Blog and your work, you can start to provide consultancy service to your customer. It’s one to one interaction.
Mentor – in this stage, you can work as a Mentor to others who want to pursue a carrier in digital Marketing. It will be one too many interactions
Startup – in this stage, Put all your experiment and knowledge to start your own business. you can still continue blogging /consulting /Mentoring.
Ther are many benefits and falls associated with personal branding. The downside is it is not either be sold or invested. The upside is he can rise his influence and become the brand ambassador.
In the initial phase, the personal band is bigger than the company, but later the company brand would become bigger.
Since I am more experienced in computer networking, I want to select it as my niche. Since its a broad niche and many players already selected it, I will be focusing more on a narrow niche initially and will target a revenue of the 1 crore over 3 years period, I feel it is the reasonable target considering the dynamic nature of the marketing. I might select paid ads to generate traffic initially for lead generation.
Integrated Digital Marketing
Digital marketing contains many components say content marketing, email marketing, social media, SEO, Paid Ads, etc
If you use them separately there won’t be enough sales they should work as an engine. To get maximum benefit we need to use them holistically.
|Integrated Digital Marketing Modules|
The integrated modules work as an engine and provide a better result as compared to the individual modules. It helps you to integrate all the modules of digital marketing effectively.
Contest marketing is the most important module and could be used for lead generation, branding, and sales channels. And the IDM makes content marketing to the next level so IDM is also called Content Marketing Version.2.
Hope this article was informative for you. If you have any questions/suggestions, please leave a comment below.