Do you want to know about What are the fundamentals of marketing and how the marketing funnel work for generating lead and transaction?
What to expect:
- What are the fundamentals of marketing?
- The Marketing Mix
- Traditional Marketing Vs Digital Marketing
- CATT Marketing Funnel
- Integrated Digital Marketing
- What is personal branding?
What are the Fundamentals of Marketing?
Marketing is also an enigma in the sense that while some people see it as a force for good, others see it as a force for evil. As with most things, it may be either or both depending on the uses to which people put marketing ideas and practices.
There are many misconceptions about marketing. These misconceptions are :
- Marketing is a modern or ‘new’ approach to business.
- That is essentially a functional activity;
- That is concerned with principally with advertising and high-pressure selling;
- and that this is largely irrelevant.
Such a misunderstanding about marketing is because, like an iceberg, the most part represents only a very small proportion of the total marketing efforts.
Information about a product for sale is everywhere – on display in retail outlets, through advertising on television and radio, in print and in posters, and, increasingly in social media.
But, as research shows, it only when buyers experience an unfilled need or want that catches sight of the tip of the iceberg and become aware of sellers who claim to have the answer to their need.
To be in that happy position you will have to have identified a marketing opportunity and designed a product or services to satisfy it.
In a word of AMA Board of Director
“Marketing is the activity, set of institutions, and processes of creating, communicating, delivering, and exchanging offerings that have value for the customer, clients, partners, and society at large.”
The concept of marketing is essentially a concept of customer orientation. For a long time, it has been preached by all, including Mahatma Gandhi, the customer is king. What this implies is that products/services are bought not merely because of their quality, packaging, or brand name, but because they satisfy a specific need of a customer. It also implies that you have to provide services to their customer and that too without any obligations.
In other words, Marketing means understanding and responding to customer needs.
You can learn marketing lesson from Hindustan Lever Limited:
Hindustan Lever Limited (HLL) has been at the forefront in the fast-moving consumer goods (FMCG) market. The company’s business ranges from personal and home care products to foods and beverages and industrials and agricultural products.
Why is HLL among the top companies in India?
There are several factor top 7 factor are:
- Strong brand equity and wide distribution network
- Technological Innovations
- Consistency in Quality
- Ensuring relevance
- Strong dependence of marketing research
- Social Consciousness
- Eyes on the future
In a few words HLL’s message to marketers is loud and clear, viz be innovative, customer-oriented, leapfrog others and be nearer to the marketplace.
The Marketing Mix
In simple words, the marketing mix is the combination of things that you decide to try to persuade people to buy a product.
The first known mention of a mix in marketing has been attributed to a professor of Marketing at Harvard University, Prof. James Culliton. In 1948, Culliton published an article entitled, “The Management of Marketing Costs.” Later 4 P’s, in its modern form, was first proposed in 1960 by E. Jerome McCarthy. He wrote the idea of four P’s of marketing in 1960 in the “Basic Marketing: A Managerial Approach.”
The Traditional 4 Ps of Marketing:
- Product: What type and range of products or services should we provide?
- Price: What price should be set for each product or service?
- Promotion: How do we best communicate with our target customers and persuade them to buy our offer?
- Place: What Channels of distribution and what levels of services are appropriate?
Traditional Marketing Vs Digital Marketing
For those who think that marketing is the same thing as advertising nothing could be further from the truth. Advertising is one part of a marketing plan.
Here are the clear concept of Traditional & Digital Marketing :
- Traditional Marketing: The marketing strategies that can be used without the internet include conventional marketing. These are the techniques that have been used for decades and are generally used less often now.
Common Traditional Marketing methods includes:
1. Direct Mails, Postcards
3. TV Ads
5. Meetups and Workshops
6. Guerilla Campaigns
8. Referral Campaigns
9. Cold Calling
10. Newspapers and magazine Ads
- Digital Marketing: It is the use of the internet, mobile devices, and other digital media to promote products and services. Digital Marketing involves 5D’s of digital which are:
- Digital Devices
- Digital Platforms
- Digital Media
- Digital Data
- Digital Technology
All the 5D’s for consumers to interact with brands and businesses to reach and learn from their audience.
- Inbound Marketing: It is the process of helping customers find your company. This frequently happens before the customer is ready to make a purchase.
Inbound marketing strategy includes – content marketing, blogs, events, Search Engine Optimization ( SEO), social media to create brand awareness and attract customers.
- Blogging: Better content will push traffic to a blog by 2,000 percent. When done right, blogging and other types of content marketing. It can drive traffic through SEO, direct hits to the web, social media shares, and direct person-to-person sharing.
- Search Engine Marketing: Search Engine Marketing (SEM) includes all activities to get your website to appear on the first page of the Search Engine Result Page (SERP). SEM includes two types of marketing; SEO (Search Engine Optimization) and PPC (Pay Per Click).
- SEO (Search Engine Optimization) uses practices to help a business make it to the first page of the Search Engine Result Page (SERP).
- PPC (Pay Per Click): PPC is the most popular form of SEM. With PPC, the marketer only pays for the ad when a user clicks on the links.
4. Content Marketing: Content Marketing is the key to Digital Marketing. It is the process of creating and sharing valuable content to attract buyer persona and convert them into a customer.
There are different ways to get started with content marketing. It includes blogging, ebooks, templates, videos, podcasts, webinars, emails, and attractive landing pages to help and understand your product or service to your buyer persona.
5. Social Media Marketing: Social Media Marketing (SMM) is any type of marketing that takes place on social media platforms.
The most popular Social Media platforms include Facebook, Instagram, Youtube, Whatsapp, Pinterest, Linkedin, Snapchat, Twitter, Reddit, and many more.
There are many marketing methods in Digital Marketing like Email marketing, Video Marketing, Informative Marketing, Event Marketing, Relationship Marketing, Affiliate Marketing Influencer Marketing.
You will decide what works best for your future customers, niche, budget, and then you create your Marketing Plan.
CATT Marketing Funnel
CATT is a marketing funnel that will help you to build the mass trust of your customers with the help of digital marketing. Content, Attention, Trust, and Transaction is the complete form of CATT.
Content: Content is the core of digital marketing. The content uses blogs, podcasts, videos, social media sites. When your site has content, people have a reason to visit, learn from it, and become new customers.
how content helps you to get a new customer:
1. Content inform your buyer persona or audience
2. Content ranks in google SERP
3. Content earns links from other sites.
4. Content is shareable on social media.
5. Content earns conversions.
6. Content makes you an industry authority
7. Content is the foundation of every digital marketing strategy.
It is important to bring the attention of your target customer to your attention.
There are different ways to get attention on your content like SEO, Social Media Marketing, Search Engine Marketing, Affiliate Marketing, Viral Marketing, Youtube, E-mail Marketing and any other digital way can also be used to bring the attention of your customer avatar.
After generating a large amount of traffic and attention of your future customer on your content.
You can build trust by generating leads from traffic. You can create an Email for repetitive engagement. Social proof of result is another way to build trust in your customer avatar.
When you build trust with your customer and build an Email list of your buyer persona.
You can offer a service or product to your future customer that is your leads and convert them to a transaction with the help of following the funnel system.
Integrated Digital Marketing Process
Integrated digital marketing is a system of engaging buyer persona and prospects with your business or brand using all methods of marketing communications to work together and assist the customer along their journey of awareness to commitment and support.
Integrated Digital Marketing includes direct marketing, social media, sales promotion, public relation, advertising, and customer relationship management.
there are some common digital marketing method:
- Content Marketing
- Search Engine Marketing
- Social Media Marketing
- Email Marketing
- Digital Display Marketing
Content is the backbone of Integrated Digital Marketing. When visitors engage with your content, they become aware of your brand.
Then they start admiring your content on different digital channels – Search Engine Result Page (SERP), Social Media (Facebook, Instagram, Linkedin, Twitter & more), Google Ads, Social Media Ads & more.
They sign up for your Email list & become for your business as a lead through various lead magnet & digital channels. With the help of integrated marketing and a series of email leads become your customer.
Integrated Digital Marketing gets website traffic, generating more leads, create more customers, and increasing sales revenue.
The unique integrated digital marketing brings in better results for your business and gives you more profit on your market.
What is personal branding ?
“Your brand is what say about you when you’re not in room”Jeff Bezos, The Founder of Amazon.
Personal branding is a unique combination of skills and experience that make you who you are. It is how you present yourself to the world. It also boosts your reputation and motivates others to want to do business with you. It is an essential collaboration of expertise, proficiency, and disposition that you want others to recognize.
Personal Branding Image
You can not develop your personal brand just by publishing a designing website or selling the most popular or fashionable product. Developing a personal brand takes time and work, It is not going to happen overnight. But once you do it, the benefits are endless.
Examples of Personal Branding Master:
- Elon Mask – The Founder of, CEO & CTO of SpaceX, Tesla
- Narendra Modi – Prime Minister of India
- Richard Branson– Founder of the Virgin Group
- Gary Vaynerchuk – Chairman of VynerX and Vyner Media
- Deepak Kankaraju – Mentor, Author & Founder of PixelTrack Digital
Benefits of building a personal brand:
- It builds trust in your audience.
- A strong personal brand gives you more lead and opportunities in entrepreneurship, Job seeking, building your network, and promotion.
- It helps you to achieve your personal and professional goals.
- It helps you to show apart from other people.
- Creating your personal brand makes you special and definite about your profession.
- It is easy for you when you are seeking a new job.
Professionals who are constructing a personal brand can become the largest brand in their niche. Constructing an authentic personal brand will help you to become recognized in your specialization.
Can you drop a reply and tell me a few words about this? How is it?