Would you like to make crores of revenue by using digital marketing? Yes, you like it, but do you know the law of marketing, marketing funnels, and skills require?
Every businessman wants to make crores of revenue in their business. But there is no proper system or we can say that the traditional style of business. Nowadays many businesses use digital marketing to reach potential customers.
I am not saying that traditional marketing is not good but nowadays most people using the internet and it is growing day by day. Because you see that in India there are approx. 50% of internet users and it is becoming more in the future.
So, we must have to change our way of marketing and shift our marketing mode traditional to digital. So, we need to understand more about marketing and the law of marketing, marketing funnels, and skills required. In some industries, we cannot use digital marketing, so we use traditional marketing there and it is also effective in that particular industry more than digital. Because its keep engages its customer.
Now, you have a question. What is marketing? and what are the fundamentals and principles of marketing? For your question’s answer read below.
What is marketing?
Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company. — Investopedia.com
Fundamentals and Principles of marketing.
Marketing is based on science, not on creativity. And we can say that marketing starts before creating products. Marketing is based on market patterns and also consumer behavior that we need to understand because it’s also about understanding your customer so well.
In marketing we need to care about so many things like keeping existing customers happy, sending the right message to the right person at the right time, and also built trust with a lot of people at the same time, and capture your position in consumers’ mind. Is it make sense?
There are 4Ps of marketing and that is product, price, place, and promotion. Marketing is a game of perception; the product is rooted in reality. And we also take care of product quality, never compromise with product quality. Don’t do the marketing of a cheap product or less quality product because by doing this you break the trust of your potential consumers and might be possible that they leave you.
And last, keep in mind that
“It’s better to be first in the mind than to be first in the market.”
Importance of communication skills in business
What do you think about communication skills is it require in marketing (both mode traditional and digital) or not that much needed?
Yes, you are right communication skill is required in business, marketing and also needed in to create a personal brand. But first of all, we must know about communication skills.
Communication skills are needed to speak appropriately with a wide variety of people whilst maintaining good eye contact, demonstrate a varied vocabulary and tailor your language to your audience, listen effectively, present your ideas appropriately, write clearly and concisely, and work well in a group.
This is proper meaning or we can say that definition of communication skills. But don’t worry we don’t want to remember the definition. Now listen carefully if your communication skills are weak then what you have to do is you need to improve it but how? That’s your question, am I right?
Here I’ll give you some basic tips.
The first place you need to improve your daily reading, read more to gain your vocabulary, and read in English because it’s the language which is used in business everywhere.
Think in English and train your mind to think in English.
Practice speaking in English.
And repeat it
Read and gain your vocabulary, think in English, and speak in English so slowly your language will be improved.
Don’t speak hard English or hard words, speak in a simple way use word that understands everybody. (Read more at thevadi.com)
Digital marketing v/s traditional marketing
Now we need to understand what is the difference between digital marketing and traditional marketing.
What is digital marketing?
digital marketing refers to advertising delivered through digital channels such as search engines, websites, social media (Facebook, Instagram, LinkedIn, etc.), email, and mobile apps. Using these online media channels. — marketo.com
What is traditional marketing?
Traditional marketing relies on offline strategies, including direct sales, direct mail (postcards, brochures, letters, fliers), tradeshows, print advertising (magazines, newspapers, coupon books, billboards), referral (also known as word-of-mouth marketing), radio, and television. — Quora.com
Now I believe that you understand the difference between digital and traditional marketing. You can see that traditional marketing is probably costly than digital marketing, and also in most cases, the goal of traditional marketing is to create brand awareness. But throw digital marketing you do anything you spread awareness, you generate leads, you convert the lead everything, and it's only on one time spent.
I am not saying that traditional marketing is not needed. Look, in some cases, you must do traditional marketing for example government’s tender they give advertise in the newspaper, or if any bank wants to buy software for their accounts or anything, they don’t buy inline they go throw several meetings with software companies and then make a decision. So marketing is based on the product, which kind of product you have, and also based on industry. In some industry traditional marketing works and, in some industries, both work traditional and digital.
In short, nowadays you can’t run any business without marketing. Are you agree with this?
Now you want to funnel that creates sales for your business and gives you a result of marketing that’s why we have a funnel of marketing called CATT marketing funnel.
The CATT marketing funnel and framework
Wealth = n ^ CATT
Here ’n’ means niche. First of all, you have to clear that what is your niche and niche is a combination of passion, talent, and market. You must need to combine these three otherwise you will no longer survive in the market. Your success and wealth depend on the niche you choose.
C — content: Create useful content that attracts people from your niche. Give value to content because without good content people would not attract to your niche. In short, content is the king. Publish your content on a blog post, videos, webinars, websites, etc.
A — Attention: Drive attention or traffic to your content using paid ads, SEO, social media (Facebook, Instagram, Linked In, Pinterest, etc.), and referrals. Because without traffic where you will find your final consumers. So, use all mediums to drive traffic.
T — Trust: Once you drive attention (traffic) then you need to build trust. So built trust with your audience by marketing automation and retargeting. Without building trust you cannot go ahead and get them to buy. You can use deep marketing methods to build trust with your audience. Do deep marketing and personalize communication and built trust.
T — Transaction: After building trust you cannot leave it at that. The most important part is getting the transaction done. Convert your leads into the customer with a natural sales method. Natural sales mean that you have a target audience who is already trusting you and looking for your product. You don’t need to push your product. Because they already trust you and naturally sales happen. But at the same time, you need to have sales webinars, sales calls or emails, a sales page, video sales letter. Without sales, you cannot convert your leads into your customer.
Integrated digital marketing
You see that lot of people SEO and expect sales but nothing happens which means you can’t get a result by doing only SEO, only Social media marketing, only content marketing, or only email marketing. Isn’t it?
But when you try to integrate all this component in such a way it became a machine that instead of using paid advertising try to sell and convert people directly. What people can do that run paid advertising for the free content they have.
Keep it in mind that never run direct advertise your product or services that you provide. Go ahead and run advertise for free content and get people in your email list. And first, ask for attention rather than asking for payment.
When you publish new content then send it to your entire email list. You will get traffic from there. Then you have social media share content on your social media then new people will come to the content. If those people like your content they share it on their social media.
Then you will get your content listed on the search engines and people might come from your site using the search. That’s call SEO. After that, you run paid ads to boost your content. That’s how the CATT funnel works. And people will end up building trust with you.
Thus, don’t use only single components like only SEO, only content marketing, only social media, or only email marketing. Integrate them and use them like a Machin.
A personal brand is very important in business. If you have a skill than you do marketing yourself tell people that I have this or that skill. If people don’t know that you have skills then how they are reaching out to you. So, if you have skills then create your personal brand because the best known will always beat the best.
For example, Elon Musk has a bigger following than SpaceX and tesla.
Many CEOs have a bigger following than their company that they have created.
The downside of a personal brand is that you cannot be sold or you cannot be invested in.
But there is upside also that a personal brand can give rise to many brands from his/her influence. you can create a new brand and your personal brand influence that brand. And you will get the benefit from it because you are the brand ambassador of your company. You can sell that brand because it’s not you.
Evolution of a personal brand
Now you have a question that how to create a personal brand. There are some simple steps that you have to follow for evolving yourself as a personal brand. And the first step is that.
Learn: Learn new skills through concepts and facts, and practice that skills so that you can improve them.
Work: what you learn put that on work that’s how you understand the better that skills. And implement in the real world. Like, do a job or freelancing or your own project.
Blog: Right about what you have learned by doing, what is your experience that’s how you remember better and you also improve your work. And you will also have to build a personal brand.
Consult: Now you have learned and created your personal brand through your blog then go ahead and consult other businesses instead of working for them. It will increase your experience. And also make your personal brand.
Mentor: Mentor others who want to become like you that’s how you can improve your skill better and also building your own community. Became a digital mentor.
Startup: start your own services and start your own startup. Create your own story that what you do in past, how you reach this stage. because it’s inspired others and they join you that’s how you build community, your personal brand, and business.
It is a cycle that never ends. Learn, work, write, consult, mentor, use in your startup and again repeat it like learn new things and go on.
A personal brand defines who you are and what type of person you want to be. And most important thing is that your business will be stronger. By personal brand, many things happen which you don’t know.
How to generate crores of revenue? and Economics
Now, you have questioned how we generate crores of revenue? but first of all, you need to understand global economics also because without understanding your people how can you sale product. And that’s covers in economics part.
Look there are three types of India, India 1, India 2, and India 3. In India 1 people are living in good condition they effort internet and all the things which they want to buy. You can say that whose income is more than 6 to 8 lakh per annum that people live in India 1. In India approx. 33 million people’s workforces which are 6% of total household. And the total number of households is approx. 110 million who are living in India 1. It is similar to Mexico in GDP, per head income, and all that.
In India 2 people who came from the middle class, which means they have a mobile phone and also able to buy necessary things, etc. or you can say that whose income is 1.5 to 5–6 lakh per annum that type of people live in India 2. In India approx. 29 million people’s workforces which are 5.5% of total household. And the total number of households is approx. 104 million who are living in India 2. It is similar to the Philippines in GDP, per head income, and all that.
In India, 3 people who are below the poverty line who are not able to buy the necessary things and all that and their income is below 1.5 lakh per annum that type of people lived in India 3. In India approx. 460 million people’s workforces which are 88% of total household. And the total number of households is approx. 1126 million who are living in India 3. It is similar to Sub-Saharan Africa excluding South Africa in GDP, per head income, and all that.
Why do you need to understand this? Because you really want to know that your product is suitable for which India. And which India pay for your product. Are they able to consume your product? That’s why you need to understand economics.
Now your waiting is over.
Hear the blueprint of how to make a crore revenue.
Make a product worth Rs. 99 or 100 and sell it to 100,000 people you will make one crore. After that make product worth Rs. 1000 and sell it to 10,000 people which is 10% of 100,000 people who already buy our 100 rupees product and make another crore. Again, make a product worth Rs. 10,000 and sell it to 1000 people which is 10% of 10,000 people who already buy our 1000 rupees product and make a crore again. And after that make product worth Rs. 100,000 and sell it to 100 people which is 10% of 1000 people who already buy our 10,000 rupees product. And make a crore again.
You see that the last 100 people is only 0.1% of our first 100,000 consumers. But first of all, you will take care of all the things which we discuss before content, marketing, and integrated marketing, and all the things.
And remember one thing that never compromises with product quality otherwise you lose people’s trust. Give them more value than they pay. That’s how they trust in you and become your permanent C.
In the last what’s to take away from here.
Must keep in mind that we are doing business to survive and make money out of it. Never do cheap work or sell a cheap quality product, always give best and excellence should be insisted upon and you must ready to pay for this Then you will get best. You understand the fundamentals and principles of marketing follow them. Improve your communication skills read books to improve yourself.
Marketing is based on science so your first experiment and learn. If you failed then try another method but experiment. Always think that you give something new in this field.
Follow the CATT funnel and choose your niche wisely because it will drive you in the future. Without a niche, you cannot do anything. Talent, market, and passion-based on these three you choose a niche that is perfect in one of these three is missing then you will not survive longer.
Make product valuable and also make actionable plan to make your first one crore. I know that it will drive you out of your comfort zone and you will be a little bit scared but it's ok. Go and grab the opportunity and find yourself at a new level.
Tell me what do you think about this article and the strategy given in this article in the comment below and also apply this in your business and tell me is it useful for you or not? And what do you think about it? What’s your opinion on this article?
Article by Sagar vadi. it is part of digitaldeepak.com internship program.
follow me on social media @isagarvadi