Marketing is a core ingredient of any Business, whether it’s a small shop or big enterprise. It’s an old word with a great presence for selling things and making money. Marketing rules are applied in markets from generations.
For example, you have surely, visited the market and seen the huge crowds and decorated market in the festive occasions in India. Shops and Markets are decorated to attract customers, shopkeepers decorate their shops with eye-catching decorations and keep their most vague and in-demands products in front of the shops to attract the customer’s eyes. These old styles of marketing are followed by generations.
But, in today’s era as everything gets digitalized these basic laws of marketing also transformed without losing their basic meaning. Marketing is also digitalizing and finding new ways to compete.
Here is the list of some influential laws of marketing listed below:
- Master in Marketing
- Marketing as a science
- Communication skills in marketing
- Global economic and Marketing
- Digital vs Traditional Marketing
- Direct Response Marketing
- CATT Marketing Funnel
- Integrated digital marketing
- Personal Branding
Let’s understand these laws in more detail:
Marketing’ is defined as a strategy or technique applied for selling and promoting things effectively and profitably.
How to be a master in Marketing?
If anyone wants to be master in anything obviously, he/she has to invest their crucial time and energy. But learning marketing is beneficial in the long run because Marketing is not just a subject or not just a language or software which can go outdated.
It is a subject which teaches strategies, people behavior about things, selling, promoting things. How you can influence people’s minds for selling your things? so learning these things can never be outdated.
Marketing is an art that is affecting customer mindsets and practicing these things can never go out of fashion just tools can be replaced but theory and learning cannot be replaced.
Theory of Understanding the markets, customers are running and popular from the dawn of civilization because marketing provides you direct benefits than any other field. It has an immediate return on investment.
It is a game of mind and it can’t be outsourced. The founder of any business should know their markets, customers should know how to market and sell their products for successfully running a business.
The three main key terms for running any business:
- Market
- Sell
- Analysis
Marketing is a Science:
Marketing is not just art is a science of understanding people’s behavior, observing and analyzing their likes or dislikes, and then taking actions and making strategies according to their previous customer behavior for successfully promoting, selling products, and influencing people’s mindsets.
Communication skills in Marketing:
Good marketing is all about good communication. Good communication means relating to your customer comfortably. It’s not about just speaking English only. If your target customer understands in local then you can talk to them locally just like in banks, tele-callers, the agencies recruit local if they have to target rural people because communication is very important for selling and marketing and English is just one language.
We have to just ask our client or customer whether I can convey my thoughts properly and effectively to you. We have to observe whether we can join the conversion in people’s minds. For marketing and good communication, we should understand our target audience well.
How you can improve Communication?
So, some effective way of improving communication skills is to write a lot and speak. Writing slows down your thinking process and this gives you a clear vision in your mind.
We should write at least 200-400 words per day for improving the thought process and if we want to be confident in English speaking we should start thinking in English and this is a must for improving your skills and communication in English.
Marketing through Economics
The country’s economy is a vital part of any trade or any business because business is all about making customers. Our business decisions should be based on the country’s economy. If we want to do business in developing countries then we have to think for people of developing countries and if we are working in developed countries then we have to take decisions according to the developed countries people and their lifestyle. For example, India is a youth country and here most of the population is working-age people, so, for India, we have to think according to that for doing any business.
We have to learn some concepts of economics if we want to successfully trade in any country. We have to get familiar with some economic terms like Loans, debits, credits, Cash reserve ratio (CRR), demand and supply chain, how people’s behavior change according to the demand and supply curve in the economy. If we understand these terms we can even forecast profitable ideas for the business.
Traditional Vs Digital Marketing
Digital marketing is trending today but that does not mean that traditional marketing has gone off trend. Traditional ways of marketing like TV commercial ads, radio ads, Newspapers ads are still used in huge demand for marketing purposes. There is a total of 197 million of 298 million homes have TVs so TV ads have a huge capacity of attracting customer eyes as people sitting and watching in their homes. Newspaper and radio ads are still in demand because they have a long reach to different corners of the country where other modes have not reached yet. Radio has a market of almost 65% of the Indian Population and newspapers will reach up to 465 million people in India.
Digital Marketing
Digital Marketing has become a new buzzword in today’s modern internet world. The whole world is transforming into a small digital global world where anyone can reach anyone easily. Digital marketing has given platforms to many people for thinking and starting their business and making wealth. It is endorsing and advertising your products, setting your business through digital channels such as blogs, social media, and websites.
Types of Digital Marketing
Direct Response Marketing
Direct response marketing is a new scientific ad type emerging and these ads are more beneficial than the normal type of ads that are running. People run ads but they don’t know whether their ads work or not but in marketing direct response ads work by direct execution of these types of ads. Direct response marketing is a type of marketing ad designed to elicit an instant response by encouraging prospects to take a precise call to action. These ads trigger immediate actions and generate leads for the business immediately. These types of ads are even better for the customer because here customer agrees to give their credentials into it.
CATT Marketing Funnel
CATT is a new marketing framework in marketing trends that can successfully create customers and following this framework we can lead to successful wealth creation for our business.
C = Customer
A = Attentions
T = Trust
T = Transactions
n = Niche
Wealth = n^CATT
C – Customer – Customer is the main element in marketing as making more customers is all about marketing fundamentals.
A = Attentions – Different methodologies and different types of successful criteria we adopt to attract the attention of our customer
T = Trust – Customer trust is a vital part of marketing so that customer will repeatedly come and remains your customer for long term.
T = Transactions – if we follow the above three we will ultimately generate transactions and money.
Niche – Selecting a specific niche will ultimately lead to successful customers so niche clarity is very important for selected targeted customers and successful business
Wealth – These above rules will ultimately lead to wealth creation for the business and this is the basic fundamental of marketing.
CATT * N framework is a great and successful methodology for marketing and business and it will create trustworthy and long-term customers.
Power of Personal Branding
A Personal brand can never be sold and cannot be invested. A successful personal brand can become a great influencer and brand ambassador. Personal branding means you are making efforts to invest in yourself. You are becoming popular; you are role models for many ones.
In today’s modern scenario people want to hear from people not from brands. They want to become like your they want to know about your journey about your mindset; about your ideas and this is the power of personal branding people have trust in you so they will get products, engage in your business because they want to create a trustworthy relationship, strong bond with your brand; They have trust on you which is beneficial for your business and these are some strategies for becoming a successful digital marketer.
How to evolve a personal brand
- Learning
- Working
- Blogging
- Consulting
- Mentoring
- Start-ups
There is a Mass Blueprint methodology for evolving your Personal brand.
- Learning: Learning new skills, concepts, facts, and understanding those concepts in clarity.
- Working: after learnings working, doing a job, making projects having proficiency in that skill
- Blogging: Writing about who you are, who are your customers; your niche, your work, and your experiences, after writing, you are connecting with your customer and start making a personal brand.
- Consulting: after creating a personal brand, learning, working, blogging, start consulting for others for their business.
- Mentoring: Teaching others is the best to connect with your audience. Mentoring can scale up your level. Create eBooks, audio-books.
- Status: Create start-ups are proof of the learning which you provide to your customers. Create your products, become a problem solver for people.
These are some effective and essential fundamentals of marketing and personal branding methodologies which we all have to follow for becoming a successful digital marketer.
I am following the Digital Deepak mentoring Program and his digital marketing guides. These are some of his wonderful marketing lessons explained and applied in real-time scenarios of digital marketing.
References: Digital Deepak Mentorship Program – Laws of Marketing Session
Leave a Reply