Is your Digital Marketing foundation strong? here is why you are facing the problems. I had a lot of misconception about digital marketing. I will go on and share with you. but if you are a beginner in this Digital Marketing field, you must go through with me in a journey for next 10 minutes and I am sure you will have a lot of new thoughts in your mind. the only problem is if you won’t clear these misconceptions you can not have a deeper understanding of Digital Marketing.
here it goes:
1. Fundamentals of Digital Marketing
We know the term Digital Marketing has two words. one is ‘digital’ and another is ‘marketing’. As a beginner, I thought it is more about the digital but later I figured out that all the digital parts are managed by software.
It is the remaining part ‘marketing’. that is what the real thing is! we human are more emotional and software can’t connect people emotionally. they can’t feel us. they can’t understand our pain. So there are no way we can do marketing with AI.
Now, as far as technical part is concern, anyone can do it, it just take a little understanding. the important part is how you present your thoughts to your customer! when you present! how you gain the attention of your customer and how you nurture them? those things matter more than anything.
here comes the understanding of human psychology.
2. marketing is a science
It is certain that convincing people through words is an art but understanding human psychology is a part of science. understanding the number game is a science.
it is important to understand how to convert the people but it is also important to understand opportunity, competativeness, ideal customer, volume of the customer, where you find them more etc. those can be done by the calculations. you have to understand the market before creating the product. we also have to understand how many people you can serve and how to scale the product.
In marketing that is called ‘targeting’. If you are targeting wrong customers, no matter how good your sales pitch or email is, but the customer will not convert. It may be like selling pencil to a farmer.
Do you think getting the product ready and targeting the right customer is enough? here comes the product quality
3. product has to be genuine
Now, if you want to be an entrepreneur then make sure that the product is amazing. the whole marketing is to promote and to reach a larger audience only but not sell. this can’t have more priority than the product. but if you have a genuine product it will promote itself. people who are using it will promote it.
For example take DDIP,
- everyone knows how important Digital Marketing is. and they have come up with an internship program.
- this is not a course but an internship, which has completion rate higher.
- you not only learn but also forced to implement.
- the chosen topics are not directionless like Random YouTube videos but well organized.
- Everyone gets to learn but don’t have a guide, but here you have the guidance.
- In other courses, you learn them alone but here you have a huge community who is learning with you.
- you have the opportunity to consult with fellow interns.
- you will get your cash backs after submitting the assignments.
- you will get a bonus if you do well enough.
- lots of career opportunities.
still, if a person is not joining the program what could you give more? someone who really wants to learn can’t resist this deal. everything that a student could want is covered in this. that is why I say,
“make a product that nobody can resist even if they try.”swapneswar barik
To make a good product you always need to invest more. Unless you invest in making a good product how can you generate more revenue. right! but I was scared about the term debt. I have seen in movies that they come to road in the process of becoming an entrepreneur. now do you also think debt is something scary ? here is the solution for it.
4. debt is wrong
I always used to think that, when ever I will create a company in the future, i will never take loan from bank. but what I realized after understanding about the economics is, it is important for the health of the country.
still I would never want to go for loans in the beginning. but here is the thing, first I can start with my own capital and try the products in market. now once I saw that my products are working and it has the scaling capabilities then I will go for taking the loan and scaling my business.
Definitely you can go for loan in the beginning but one thing I am worried about is, what if your product is not ready for the market, or the market is not ready for your product. If you have figured it out all then, you can certainly do it.
“RISK HAI TO ISHQ HAI“,harshad mehta, Scam 1992, amazon prime
I can understand but that risk has to calculated one. and all those person who succeed by taking huge risk, had a lot of calculations and numerous sleepless night experiences. they understand this game, it is not just throwing dart in dark.
This debt that you are taking, helps the money flow, and unless and until the flow of money going on, the economy of the country is healthy. here by taking the loan you are helping your economics to work properly and simultaneously you are helping yourself grow in business. is not is a win-win situation?
But what about the investments ? Incase of loans you have to pay the interest but when you sell some stocks you don’t need to pay anything is not it ? But if it is a personal brand, invester don’t like to invest! So should we have a personal brand then ?
5. personal brand
Yes! ofcourse you should have. building a personal brand reduces the marketing. Apart form your personal brand whatever the company you are creating, will have the trust of your personal brand.
for example: tesla never market their cars. it is the brand value of elon musk who do it all.
Here is the scariest part. There would be more giant in your fiend and it can be difficult for you to compete with them. here is what you can do. find a sub category and compete within that. place yourself as no1 or the only one. ‘only one’ always works because ‘no1’ can be replaced sometimes.
here are some example:
XYZ college is the no1 college in Odisha
MNO college is the only college having branches all over the Odisha
PQB is the highest rank producer in Odisha
STV is only college having the 100% placement guarantee.
They are all marketing and placing themselves as a best in somecategory. but the brand wins who wins the trust of their customer. Here is the funnel for that.
6. CATT theory
This theory tells us about nurturing the customer, giving them value before asking for payments. this goes in a sequence manner. If you go straight away to the customer and ask them, whether they would buy or not, you will get the obvious answer. here is the logic behind the CATT theory.
CONTENT: this is the first thing that you offer from your side to your customer. we humans love taking things for free, so it will work 100% but there is a small problem in this strategy. if you are not placing it well, then the percentage will reduce. there are a lot of people giving the same thing already for free, so what is that one thing you are giving them that matters more. just make sure your placement is right.
ATTENTION: in this part you get their attention by asking the small details in return. their email and name. often people give them by thinking “it is not a big deal “. So If you place well then geting leads are not that difficult. It is apart that probability comes in to picture. these are the most important asset for your business.
TRUST: in this phase you send some series of helpful content to their inbox which creates a difference in their life and mind as well. if they are reading your emails then they are the customers who are converting slowly. they will have faith and trust on you that your product contains value and most importantly the change happen in their mind towards you and your product.
TRANSATION: This is the state where you have to convert your customers. even if your audience is in hot category still you have to pitch them, still you have to do a sales call, sales email, sales webinar. now it is certain that after coming from this funnel the person is more likely to buy. that is how it works.
the conversion is proportional to CATT funnel.
But how long can you do marketing for your product ? Imagine what if you do marketing once and later whatever the product make it sell automatically! As we talked earlier this is possible in personal branding and I never know how to create it until Digital Deepak Internship Program . Here is what I learnt about creating a strong personal brand.
7. personal brand evolution
It is the most important thing in this digital era. once you have a good personal image you don’t need to market things anymore, you just founding a new company people will buy from it easily may be the product or the stocks. because the trust will remain intact no matter where you go.
now the personal brand does not created at once. it goes in a process. here is the process.
- you have to learn one skill, take time but go depth into it. and also learn what are the branches of this niche is.
- practice them again and again, unless you practice them you can’t be best in them if you think something works try that out on yourself and see what you are getting as outcomes. if your prediction was true then bravo.
- do some consultation, but the question is where you will find the people who want your consultant. here comes the most important thing, that is your blog. start blogging share your content on social media. you will find a client within a month if you are doing it amazingly. here is the thing do free consultant for few people and when you see your clients are getting the result you can now charge them for money.
- next part is mentorship. in this phase initially you find few people and go on teaching them from basic and make them get the result. once you succeed in that you are now ready for mass mentorship. but just after learning and mentoring does not work properly
people need at least something to confirm that you are the authority in this subject and that is what you need to do. you build the trust by offering them free content in blogs or in YouTube videos and there you will gain the trust and win over your audiences.
Everything we talked but not the money part without understanding the money theory it is always incomplete. Because at the end we want something in return. Right?
8. Not 1Cr but 4 Cr Rupees
See, this is a simple logic that If you have to earn 1 cr then sell ₹100 product to 100k people. or sell ₹1k product to 10k people or sell ₹10k product to 1k people or sell 100k product to 100 people. But this is not done.
This is not the calculation to reach 1cr but a funnel to generate 1 cr at each level. Yes! First create a product worth ₹100k, cool ? and now see what you can give in ₹10k, then see what you can give in ₹1k, then see what you can give in ₹100?
Now, you have ready with your product. Next find 100k people to buy the ₹100 product and put them in a funnel and sell the next ₹1000 product to all of them. out of 100k people, if only 10% people purchase that you will get another 1cr. next sell ₹10k product to those 10k people, if 10% out of them buy, you will get another 1cr. till now you have got 3cr. and now the last level is remaining. you go on selling your ₹100k product to those 1k people and if you can convert only 10% still you will get 1cr.
calculate that you will earn 1cr in each level and that is nothing but the 4cr. the only thing is your product should worth ₹100k or you have a strong personal brand.
is not it amazing? absolutely! one thing I always love is delivering more than people expect. this makes me feel good and that is why I gave you more than I promised which can help you avoid misconceptions and grow in your digital marketing journey. here are the Two such more points that you should know.
Traditional Vs Digital marketing
I thought, I will do digital marketing only, then why should I even understand and waste my time in learning about traditional marketing. here are the reason.
when it comes to reach, there is no comparision of traditional marketing. facts are:
- 197 million people have tvs in their homes. that is nothing but 800 millions to 1billion people.
- 65% of Indian population listen to radio. (source: Finantial express)
- 465 million people read news paper. (source: business standard)
Digital marketing is effective when it comes to particular kind of audiences. if it is about the reach then traditional marketing has no alternative.
Integrated Digital Marketing
I used to think that after running ads I will definitely convert people. not many but few. and definitely i will get back the money i have invested and along with it a little profit. this model broke that misconception of mine.
people like me think only to run paid ads, SEO, SMO, content marketing , email marketing . but it does not work that way rather it is a whole frame work.
use all of them simultaniously. use SEO, SMO to drive traffic to contents and get the leads , again fo content marketing. now from content or from email you can go gor selling or converting your customers.
here paid ads is just catalyst.it boosts the entire system. but just having the paid ads and not having such a good system. whole thing will not work.
The above-cited were the most important things to understand when you are going deep into digital marketing.
- marketing is more important than digital
- marketing is not only an art but it also includes scientific calculations and understanding human behaviours
- The genuine product doesn’t need promotion.
- Understanding economics create current opportunities and future possibilities.
- position your brand as only one.
- CATT funnel is important for better customer.
- personal brand takes time, go slow it will be effective.
Now ask yourself what are the thoughts provoked in your mind, consider sharing them with us in the comment section below. And if you find this important then subscribe to our newsletter to get regular updates on your digital marketing knowledge.
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PS: This is a part of DDIP assignment.
PS: Digital marketing you can do anywhere from the earth.