Law of marketing

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Do you know the law of marketing?

It is really important to be aware of the law of marketing before getting into deep marketing.

In this blog, you get to know about the fundamentals and the law of marketing. We will be covering the following topics:

  1. Why it is important to learn fundamentals and laws of marketing
  2. Traditional vs digital marketing
  3. Importance of communication skills
  4. Why personal branding is important
  5. Mass trust
  6. Integrated digital marketing
  7. CATT funnel

– Marketing starts before creating the product. Most of the entrepreneurs make the product and then hire marketing agencies to push their product even if it is not made according to the customer’s needs.

– it is all about sending the right message to the right person at the right time.

– Marketing is not about selling the product but keeping the existing customers happy so that they can remain your customers for life.

– Marketing aims to know and understand the customer so well that the product or the service fits him/her and sells itself.

– Never let marketing become more important than the product, a great product sells itself. Word of mouth is the best channel of marketing.

Why it is important to learn the fundamentals and law of marketing?

  • Marketingeducation has a long shelf life because it is rooted in human psychology and understanding the market.
  • The professions like doctor, lawyer, cook, etc. has the possibility to be taken by the robots as the technology grows but marketing can only be understood by human psychology.
  • Marketing is the most valuable investment in a business as it gives us direct returns, every thing else like production, management, accounting, HR, manufacturing is an expense that doesn’t give you immediate ROI.
  • Marketing cannot be outsourced to a marketing agency completely.

Traditional vs digital marketing

Traditional marketing

  •  If a product is generic with a wide range of targeting then TV ads can reach millions at very low cost.
  • TV ads has a reach of 800 million to 1 billion people
  • Radio has a reach of 65% of the Indian population.
  • Newspaper has a reach of 465 million people

Digital marketing

  • Digital marketing uses digital medium like social media and websites.
  • it the best medium to reach the affluent English speaking audience -100 million.
  • Traditional marketing does not allow you to track or target or audience but digital marketing does allow.
  • You can have a two way communication.

Importance of communication skills

  • Good marketing is all about good communication.
  • Good communication doesn’t mean sophisticated English. it doesn’t care about vocabulary or grammar, you just need to transfer your thoughts effectively.
  • You can improve your communication skills. Here are some tips to increase your communication skills:
  1. Write a lot. The more you write the better you can write or speak.
  2. Think in English or the language you want to communicate in.
  3. Listen well
  4. Body language is also important.
  5. Take time to respond. (Think and speak)

Why personal branding is important

  • It is not important to be the no.1 but to be the only one.
  • If you cannot be a leader in a specific category then be a leader in a sub-category example BMW is know for their driving experience, Volvo is known for its build quality and Mercedes is known for its interior and comfort.
  • The best known will always beat the best.
  • People want to hear from people not brands.
  • DOWNSIDE- a personal brand cannot be invested in and cannot be sold.
  • UPSIDE- a personal brand cannot give birth to many brands through his/her influence.

Mass trust  

Building mass trust is evolving your brand.

Do you want to know how you can build mass trust? Here it is –

  1. Learn– learn new skills through concepts, facts and procedures. Understand the concepts remember the procedure and practice.
  • Work– put your new skills to work, from practice to implementation. Implementing it in real world will make you better and you experience<job/ freelancing>.
  • Blog– write about what you have learned and experienced through your work
  • Consult– now when you have your personal brand through your blog, have work experience and have learned the fundamentals, start consulting other businesses instead of working from them.
  • Mentor– mentor other who want to become like you, mentoring others will help you scale your understanding to a whole new level.

CATT funnel

You want to earn wealth in your carrier

Wealth = n^CATT

[N] Niche: your success and wealth depend on the niche you chose.

[C] Content: the content should be useful that can attract people from your niche blog, posts, videos, lead management, lead magnets, etc.

[A] Attention: Drive attention <traffic> through your SEO, social media, paid ads, and referrals.

[T] Trust: build trust with your audience with tripwires, marketing automation, remarketing.

[T] Transaction: convert leads into customers with natural sales method.

Integrated digital marketing

Most people marketing their products only focus on one platform like either they will focus marketing on only social media or only SEO, but the truth is you cannot get leads until you make a framework and interconnect on the niches of digital marketing to work together.

Here is an integrated digital marketing framework

conclusion

Before getting into digital marketing you need to get clear with the fundamentals and basics of marketing.

The other fields like doctor, chef, or lawyer can be taken by robots in the future as the technology grows but marketing cannot as marketing is rooted in human psychology and can only be understood by humans.

Good communication plays a very important role in marketing but good communication does not mean sophisticated English, you just need to be clear in explaining and transferring your thoughts effectively.

You don’t need to be the no.1 but the only one and for that personal branding is really important.

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