Why Law of Marketing is the secret ingredient

As per the study conducted in the mid of 2016, it can be concluded that about 12% of the revenue of companies goes into marketing. Also, in 2018, about 630$ billion dollars was spent on marketing around the globe. This shows how marketing matters in every product-based company. We need to understand that ''Marketing is a battle of perceptions, not products or services''.  It is the most valuable investment because it gives direct sales. Most people consider marketing as some form of creativity. But it is based on science. The most important thing to remember is that marketing should not become more important than the product, if the product is good then it will sell itself. Therefore it is said that marketing is a game of perception and the product is rooted in reality.

Every project calls for points and processes to consider in order to a successful. 

1)    Research: As the first step of any project, research is vital for every marketing challenge. In order for an effective campaign, understanding your market competitors, audience, barriers, and support all play an important role in brand positioning. It starts with understanding the customer and customer needs that lead to creating a product that fits. Its main purpose is to build a brand and capture a position in the minds of the consumers so that they remain consumers for life.

2)    Creativity: Whether it's business-to-business, or business-to-consumer, you must always have your creativity at the peak.

3)    Evaluation: It is vital to continuously evaluate a marketing project. It’s helpful to set project benchmarks, timelines, and deadlines throughout a marketing campaign for guidance. Evaluation is key for not only your communication platform but for client relationships as well.

4)    Communication: Active communication is what marketing is all about. Good marketing is equal to good communication. It is the ability to transfer your thoughts effectively.

5)    Revision: Marketing requires continuous trial and error until you’ve effectively reached your target market and communicated a message they want to hear. Marketing is all about sending the right message, to the right person, at the right time.

6)    Delivery: This is where those timelines and deadlines come in handy. Once your marketing campaign is ready to rock n’ roll, the final elements must be delivered carefully. The last thing you need to worry about is a typo after all your hard work. When the campaign is all said and over, you are not done! Upon final delivery, it is important to assess the end results and see how you can apply new concepts and communication tactics for next time.

      Keeping all these fundamentals in mind you have to build a strong brand. You don’t have to be the No. 1 in the market but you have to be the only one. You can choose a category and become a leader in that for example  Xerox, goggle, Zoom are brand names that have become verbs. If cannot choose a category to be a leader in a subcategory, for example, BMW, Volvo, Mercedes. People remember only No.1 and for that, you have to enter a competitive world but with a unique angle. Marketing has never been the same as it is now and hence it is classified based on its during the course of time as Digital Marketing and Traditional Marketing.

Traditional Marketing is when the marketing activities are undertaken in a conventional fashion, i.e. by way of newspaper, television radio, and magazine.TV ads can reach millions at a low cost. In India, 197 million homes have TV out of 298 Million homes. Average is 4-5 member/household. Also, 65% of India's population uses Radio as well while the newspaper is used by 465 million people. But its disadvantages are that it cannot personalized communication, cannot do deep marketed and it cannot do natural sales

On the other side, digital marketing is the fundamental term that includes each and every online marketing effort. In digital marketing, companies make use of all the digital channels to reach existing and potential customers. The channels may include Google search, social media, email, websites, so on and so forth. Further, the most important technology, upon which digital marketing relies is the ‘Internet‘. Simply put, any kind of marketing which is carried out online comes under the periphery of digital marketing. Digital Marketing reaches the affluent English-speaking population.

After we did with categorizing marketing we need to our niche and for that, we use the CATT Marketing funnel. It is the technique/approach we can use to achieve our goals. It is the secret to boost and market in our niche by applying the CATT marketing funnel to create wealth.

 

According to CATT Marketing Funnel

Wealth=n^ CATT

n- Niche- Your success and wealth depend on your niche. The category/expertise/interest you are going to offer to your audiences.

C- Content- Create useful content that attracts people from your videos blog, webinars, etc.

A-Attention – Drive traffic using SEO, Social Media, and Ads Referrals.

T- Trust – Build trust with the audience, using Marketing automation, retargeting

T- Transaction- Convert leads into customers with natural sales method.

CATT funnel is how your audience will go through with you in the entire journey. The aspect that drives the CATT funnel is the INTEGRATED DIGITAL MARKETING. So Integrated digital marketing is basically a combination of all the modules

 If you individually work on either email or social media etc. you may drive the traffic based on the single area of marketing but if you come and integrate all the modules together the results may amaze you. For example, paid advertising boosts momentum whereas social media like Facebook may help you get new leads when people visit your pages or profile. Similarly, when once you get your email id and people visit your pages and blogs they can be converted into sales as well. This way Integrated Digital marketing is what a digital marketer will definitely have to be thorough with.

You are done considering all aspects of marketing but what if your brand is not that powerful to stand out in the market. That is when Personal Branding comes into the scene. The best known will always beat the best. Remember that people always want to hear from people and not from brands. Hence you may have also heard that Word of mouth is the best form of marketing channel. Consider that Elon Musk has a bigger following than Space X and Tesla. 

Personal Branding can give rise to many brands from influence but on the other side, it cannot be invested in and cannot be sold. You will have to build a Mass Trust for it to work. What does that mean?  Consider the Mass Trust Blueprint for it. There are a few aspects you have to consider for the same.

        1)    Learn- learn a new skill through concepts and facts, procedure

        2)    Work – Put your newly learned skills to work and go from practice to                                implementation.

        3)    Blog-Write about what you have learned and experienced through your work.

       4)    Consult-Start consulting other businesses instead of working for them.

        5)    Mentor- Mentor others who want to become like you

        6)    Startup- Start your own product or service business.

Putting all these aspects together we may say that you need to work very smartly in order to become a great player in digital marketing. Along with consistently working on markets skill, you will have to consider the economics, as well as the country’s economy, goes up with the average age of the country. You have to be constantly on your toes and keep going to achieve the market value you desire.