As you see the title itself clear what we are going to discuss in this article.
Many of us think digital marketing is different and marketing fundamentals can’t be applied here.
So let’s start and recap with Marketing fundamentals and then we come to our article “Can We Use Fundamentals of Marketing in Digital Marketing?”
What is Marketing?
Here are a few definitions of Marketing to understand what is marketing?
“The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.” – Dr. Philip Kotler
“Marketing creates integrated campaigns to generate leads that positively influence sales, brand, value and vision.” – Jayme Soulati
Marketing is based on science, not on creativity. Marketing starts before creating the product. It starts with understanding the customer than creating a product that fits.
In simple words, marketing is all about identifying and meeting the customer needs profitably. Marketing is not just about selling, it’s also about keeping an existing customer happy by communicating with them so they can retain customers for life.
The Fundamentals of Marketing:
Marketing delivers the right message or services or product to the right person at the right time.
Marketing revolves around 4P’s. Let’s discuss what those 4P’s are:
The product is either a goods or services that seems to meet a specific customer need and demand. When thinking about the product consider the key features, benefits, and the needs of customers.
It is key to understand those problems the product will solve.
Price is the actual amount the buyer or end user is going to pay for the goods or services. To finalise the price of any goods or services you need some research on how much the buyer or customer can pay for the product. You may also check your competitor prices to get an idea.
Place refers to whether the product or service of the business is made available, seen and distributed to customers.
It is important to consider how easily products are available to the end user or customer.
Promotion comes under the marketing communication strategy and techniques. It may include advertising, sales promotions, offers, discount and PR activities.
It is important to differentiate between marketing and promotion. Promotion just the communication aspect of the entire marketing function.
Important points to be consider for marketing:
1. Marketing is just not about selling products, but it is also about keeping the existing customers happy by communicating with them; so that they remain consumers for life.
2. Marketing starts before creating the production. It starts with understanding the consumer and consumer needs that lead to creating a product that fits him/her.
3. Marketing is a game of perception. The product is rooted in reality, so never let marketing become more important than the product.
4. The purpose of marketing is to build a brand and capture a position in the minds of the consumers.
So now we have revised the few basic fundamentals of Marketing. Now lets understand Traditional Marketing vs. Digital Marketing.
Traditional Marketing Vs Digital Marketing
Traditional marketing is a type of marketing that includes the traditional ads we encounter on a daily basis. In traditional marketing promotions are done offline and these are the common offline marketing tactics used:
1. Print (Newspapers, Magazines, etc.)
3. Outdoor (Fliers)
4. Broadcast (TV, Radio, etc)
5. Direct Mail (Catalogues, Postcards, etc)
Digital marketing or online marketing refers to the market-related work that a business does through the Internet or an electronic device such as a mobile phone or computer.
Any business (regardless of its size) can leverage digital marketing to reach out to their target market, connect with prospects, and convert more of them into customers/clients.
Digital marketing is quite similar to traditional marketing but just uses digital devices. One can start promoting business through social media marketing.
|S.No.||Techniques / Description||Traditional Marketing||Digital Marketing|
|1.||Marketing Approach||More of Personal Approach||Physical Presence not required|
|2.||Consumer Interaction||Very Less Interaction as promotional mediums are not flexible enough||Promotional mediums are vital. So medium of interaction with customer are enough.|
|3.||Marketing Cost||Expensive||Less costly|
|4.||Target Audience||Reaching local audience easy||Reaching to global / local audiences is easy as targeting the audience is possible digitally.|
|5.||Marketing Analysis||Company must wait for week and month to get result||Gives quick results and also real time results.|
|6||Communication||One way communication||Both way communication|
Conclusion : Both digital and traditional marketing can work for you, as long as you know who your audience is and how you can reach your audience to fulfill their needs.
What is CATT Marketing Funnel?
CATT stands for Content-Attention-Trust-Transaction.
CATT is a sales funnel that will help you to build the mass trust of your customers with the help of Digital Marketing.
Wealth = n^CATT
n is your niche.
Whatever your niche is the CATT framework will help you multiply the power of your niche.
[C] – CONTENT:
Content is the king and its core of digital marketing. Content can be anything whether it is a blog, YouTube Videos, Posters, landing pages, and many more.
If your content is natural and helps visitors solve their problems, they buy from you.
If you have a great piece of content then you don’t have to struggle to spend much for marketing. It will itself bring you organic traffic depending on the quality of the content.
[A] – ATTENTION:
It is important to grab the attention of your target customer to your content after creating it specially on digital platforms as there is lots of content online.
You have to spend a little amount of money to bring the attention of the content in a huge amount but it’s worth it depending upon the Return on Investment.
There are different ways to bring attention to your content, some of them are:
- SEO helps to bring organic traffic by improving the rankings of your page. Investment is not required in SEO.
- Paid Ads like Google Ads, Bing Ads, Facebook Ads, LinkedIn Ads, and many more.
- By Sending Emails
[T] – Trust :
Without building trust with your audience, you can not get sales. Building trust with your audience is very important. Once you get the attention, you have to build trust with your audience using marketing automation, retargeting, providing values to them. Your product must be genuine.
Trust can be built by repetitive engagements, hook the user, and social proof.
[T] – Transaction :
Even if the target customers trust your business, they might not buy your product or service. You have to offer something, which is related to your niche and then this might lead to transactions. You can persuade them through different channels like a sales page, webinars, a sales video, etc.
if you complete the entire funnel, it will create wealth for you,
A niche is not something you can select over-night. It takes a lot of thought and some practice to find out what you like and what you are good at. It takes time and introspection.
How to Find your Niche-
- Find your Passion and interests
- Identify the problems you can solve in the market needs.
- Research what problems or questions they have, find out from Quora, FB group, What’s App Group, Forums.
What Is Integrated Digital Marketing?
“Integrated Marketing is an approach to creating a unified and seamless experience for consumers to interact with the brand/enterprise; it attempts to meld all aspects of marketing communication such as advertising, sales promotion, public relations, direct marketing, and social media, through their respective mix of tactics, methods, channels, media, and activities, so that all work together as a unified force. It is a process designed to ensure that all messaging and communications strategies are consistent across all channels and are centered on the customer.” – Data & Marketing Association
Many successful digital marketers are using an INTEGRATED DIGITAL MARKETING strategy. That’s the reason they can build trust and get a good conversion.
The integration of multiple marketing strategies to form a cohesive online approach for your business. Here’s what it typically entails:
- Content Marketing
- Social Media Marketing
- Paid advertising (or pay-per-click advertising) campaigns
- Web development and design
- Search engine optimization (SEO) and search engine marketing (SEM)
- Local listings management
The idea behind integrated digital marketing is that, while each individual strategy doesn’t have a huge impact on its own, when used in conjunction, you can create a more influential online presence.
If you think you can get results using only E-mail marketing or only using SEO or Social Media. Then you are wrong.
This entire structure works together.
Personal Branding (Mass Trust Blueprint)
Personal Branding involves finding your uniqueness and building your reputation on things you want to be known for and allowing yourself to be known for them.
It is an intrinsic human need to connect with others. But before you arrive at the stage of paying for a product or service, you need to be able to trust the person or brand.
So how can you earn this mass trust?
The Mass Trust Blueprint captures the cycle of stages you can go through to do so.
Begin with learning a new skill set.
Put it to practice by working in the real world, as an employee or freelancer. Putting your learning to practice leads to a practical understanding.
Blog about your experiences, give value and show your knowledge. Writing solidifies your learning and will help you to build your personal brand.
Based on your experiences and knowledge, provide consultation in your field, and be paid to advise.
Mentor others who are on a similar path as you. Teaching makes you delve deeper and scale your understanding.
Build your own startup company.
In the Last –
In this article we have discussed the fundamentals of marketing, learned how digital marketing works, How to build a personal brand and the importance of the CATT funnel, and integrated digital marketing strategies to build a successful business.
I hope the article gave you ample clarity that in digital marketing the fundamentals of marketing to be applied. Please share your thoughts about the same and if you have any queries, you may comment here.