Do You Think The Law Of Marketing Help To Boost Your Business?

Introduction:

Do You Think The Law Of Marketing Help To Boost Your Business? Before we go towards this question, I want to share something with you.

As we know today, India is one of the biggest startup hubs in the world. At the same time, the government takes the right policies to empower our young entrepreneurs.

But the question is how to become a successful entrepreneur.

The idea is straightforward learn, implement it, teach what you know, and apply it to your business.

It looks so simple, but the reality is complicated. If you are on the right path and consistently try to achieve your goal, it’s straightforward.

To become a successful entrepreneur in a particular field, you learn it theoretically and practically.

Try to teach others what you learn to get depth knowledge in that field. Somewhere it will help you to build your Brand.

Always try to create a new belief system in your people’s minds.

The best example is Elon musk; until he launches his satellite into space, nobody believes that way; everyone thinks that authoritarian governments only do it.

Now today, he is a role model for all entrepreneurs.

Similarly, you always set a financial goal and create a plan to achieve it.

If possible, take a printout of it and stick it on your wall. I am not saying it will help you achieve your desired life, but it will enlighten you to do more time by time.

The most fundamental part of a successful business is choosing fields or selecting a niche.

If you are very clear in your niche, you can easily earn 1cr per year.

Imagine if your product or service charge is shallow and the customer is very high, then you are ideal.

Because your product cost is meager and you spent some money on advertising, customers showing interest in your product are automatically very high if the price is low.

If your product or service is not up to the mark, you have to invest more money in marketing to attract your customers.

So there is no significant difference between your profit and your investment. 

If your product is very authoritative and informative, you can hike your price, and people come forward and purchase your product or services.

Because today people go with quality, not price.

If your product/service quality is good, people don’t think about the price they directly go for the Transaction.

The best example is the Apple iPhone.

In this scenario, you don’t need more customers; if you get 100 customers who understand your services or products, you can easily reach 1cr per annum.

Now I am going to the Law of marketing?

What is the Law of marketing?

Marketing is based on science, not creativity.

Nowadays, most people comment like “what a creative mind, That’s why he/she is very successful in their business.”

But I don’t think they are right. Today in the whole universe, only one person is a creative mind, God.

Yes, God is only a creative person who creates this entire universe, species, Humans, and all.

But as humans, we sometimes copy others’ ideas and change them a little bit and present them. most of the time, it’s happened in history.

Marketing always starts before the product is created.

It starts with understanding customers, and based on that; you create a product that fits the particular customer.

Marketing is nothing but sending the right message to the right person at the right time.

According to Vince Lombardi

“It takes a month to find a customer…seconds to lose one.”

That means marketing is not just selling your products or services apart from building a relationship with them communicating with them.

So that they remain a customer for life.

It’s very hard to find the right customer but very easy to lose the customer.

“Trust takes a year to build and seconds to break.”

As a marketer, your main goal is to build trust, which we call mass Trust so that people can trust you. Here you build Trust in strangers.

“Products is made in the factory, but brands are created in the mind”

-Walter Lander.

The primary purpose of marketing is to build a brand and capture a position in your customer’s mind.

According to Peter Drucker, “Marketing aims to know and understand the customers so well the product or services fits him and sell itself. Marketing aims to make selling superfluous.”

Marketing is a tricky thing to learn.

We see most people sell their low-quality products in day-to-day life in unethical ways.

If your product is high quality and authenticated, it sells itself, and your customers go and refer to your products.

If your product is not good, then whatever you do in marketing is a waste of money and time.

So always focus on your product or services; once you get momentum, then you don’t need too much effort on marketing.

“The secret to marketing success is no secret at all: word of mouth is all that matters.”

-Seth Godin, founder and CEO Do You Zoom.

Word of mouth is one of the best channels of marketing.

People always trust others’ opinions about the product. So word of mouth is one of the powerful mediums in marketing.

“Stopping advertising to save money is like stopping your watch to save time”

-Henry Ford

Advertising is another essential component of marketing. It’s a positive impact on your product or services.

“The written word is the strongest source of power in the entire universe”

-Gary Halbert

Exactly copywriting is one of the most vital powers in marketing. If your copywriting is good, no one can beat you in marketing.

Finally, marketing does not just help you to reach your product/services to the entire world, but it also allows you to build a good perception of your products.

How to create a personal brand?

Don’t try for no-1, but instead, be the only one.

First, choose a suitable category that fits you and become a leader in that category.

For example, When you talk about search engines, the first thing that comes to your mind is Google. Because in the search engine category, Google is the Brand.

If you think about video conferences, then Zoom is always coming first in your mind. Zoom is a branded company for video conferences.

Similarly, if you want to build your brand, choose the right category and become a leader.

Marketing is one of the powerful channels to build your brand.

If you want to brand in the broad category, you start a minimal type that we call a micro-niche.

There you occupy the leadership position, expanding it to the next.

Why is marketing important in a demand-driven economy?

Marketing has a long shelf life.

Because it helps to understand human psychology and also the market.

Marketing is about communication, understanding economics, and human psychology.

In another way, marketing is nothing but creating perceptions about your product or services.

In any business, production, manufacturing, employees, and the Account section are all expensive, they don’t give you an immediate return of investment, but marketing is the one that gives you a quick ROI.

Understanding marketing is nothing but understanding the business.

So if you are the owner of any business, first understand the marketing. If you know how to market and sell, your career is much safer.

What is the importance of communication skills?

“Communication is the soul of all relationships, more than any other skills, it’s the heartbeat of success in sales, marketing, business, friendship communities, and beyond.” -Susan C Young

Good marketing is all about good communication skills.

I don’t say your communication skill should be sophisticated, but your communication will help you effectively transfer your thoughts to your customer.

If you want to improve your communication skills, you write as you talk and join the conversation with people.

Try to keep your communication skills as simple as possible because it will help you convince your audience about your thoughts.

What is business economics?

If you are a business owner, you should understand the economics basics. It will help you to make decisions in your business.

If the country’s economy goes up, then the country’s average age goes up.

There is a very young average age in developing countries like India and China.so it’s a good opportunity for startups to concentrate on developing countries instead of developed countries.

What are the characteristics of the Indian economy?

The Indian economy is divided into three categories, India-1, India-2, India-3.

In the India-1 category, 31 million people are active workers concentrated in 23 million households. The total population in this category is 110 million, and the per capita income of the India-1 type is $8800.

It’s very much similar to Mexico’s country.

In the India-2 category, 29 million people are active workers who are concentrated in 22 million households. The total population in this category is 104 million and the per capita income of the India-1 category is $3000.

This category people serving India-1 category peoples.

It’s very much similar to the Philippines.

In the India-1 category, 46 million people are active workers concentrated in 235 million households. The total population in this category is 1126 million, and the per capita income of the India-1 type is $1200.

These village peoples work on agricultural land for daily wages and consider them below the poverty line.

It’s very much similar to sub-Saharan Africa, excluding South Africa.

According to the above figure and facts, one thing is to clarify that total wealth is fully concentrated on the India-1 Category.

What is the difference between traditional marketing and digital marketing?

As with digital marketing, traditional marketing has its importance.

If your product is very generic with very wide targeting, TV ads can reach millions of customers at low costs.

Out of 298 million homes, 197 million homes have a TV in India.

So according to a survey TV has reached of 800 million to 1 billion people.

Similarly, Radio has reached about 65% of the Indian population.

The newspaper has a reach of 465 million people.

Compared to this, digital marketing is nowhere.

But digital marketing is the best medium to reach a fluent English-speaking population in India, with a spending power of about 110 million users.

The main disadvantage of traditional marketing is that you can not personalize the communication; you cannot track your customers.

You are not able to do deep marketing in traditional marketing.

Direct Response Marketing:

Direct response marketing is nothing but encouraging prospects to take a specific action.

For example, if you are running ads on social media platforms, you ask prospects to fill out the form to download the ebook.

From this, you create an engagement with prospects and understand the behavior of your chances.

The CATT Marketing funnel:

Wealth=n^CATT

Here n: ‘n’ is nothing but a niche. Your digital journey begins with selecting a Niche. Most people choose a Niche but don’t take any action. 

C: ‘C’ means content; once you succeed in selecting a niche, you have to create authentication content for that niche. 

If you want to know depth about content marketing, then click here.

A: ‘A’ means attention, now your responsibility is to take traffic to your content using social media campaigns or SEO.

T: ‘T’ means Trust. Here you are building Trust in your prospect’s mind. For this, you can use automation.

T: ‘T’ means Transaction; it’s the last part of the funnel. Here you convert your leads into customers. This means they are ready to buy your product or services.

How to choose the right niche?

Choosing the right niche is not simple work. It’s a complicated task if you are a newbie.

If you want to choose a niche, remember three terms while selecting a Niche.

The first one is Talent; know in which field you feel talented. It may be reading books, writing articles, technology, health, or anything.

Just try to understand it.

The second one is passion; you understand how passionate you are about that field.

The third one is the market. Here you research how the market reacts to it.

Based on this, you choose your specific niche.

Make sure your niche should be somewhere fit for those three terms.

What is the meaning of Integrated digital marketing?

In digital marketing, there are many segments present.

Someone is running paid ads for leads, but if the sales did not happen, that’s the total loss.

Someone is doing content marketing; if the sales do not happen, it’s the loss.

Instead, what if we integrate all those segments and make it like a machine.

This process we call integrated digital marketing.

Personal Brand impact:

“Personal brand is what people say about you when you are not in the room”

-Jeff Bezos

Founder of amazon

In my opinion, a personal brand is nothing but putting your image in a prospect’s mind when it comes to a specific category or your niche.

The main drawback of a personal brand is that you can not sell it or be invested in it.

How to develop your Brand?

If you want to develop your Brand, first you learn new skills. Understand the concepts, facts, and procedure.

Now you put your skills into your work. Implement whatever you learn—implementing those skills in the real world to understand better.

Now your next step is to write blogs on your skills. Instead of reading while writing, you get depth knowledge. So it’s another critical step for developing your brand.

Now you start consulting other businesses. You are a personal brand through your blog; you have enough work experience, so you have to provide consulting services to other companies.

Now it’s time to teach others through mentoring. In mentorship, your level will be expanded to another level.

Now you start your startup. Now you understand the market well; you give them better solutions through your startup.

It’s part of the digitaldeepak.com internship program, if you want to know more about the internship program visit his website.

Conclusion:

In this article, you understand how marketing fundamentals play a vital role in traditional and digital marketing. Here you know the difference between digital marketing and traditional marketing. At the same time, you understand how marketing funnels work and how you build your Brand in marketing. 

I love to know your viewpoint about this article. Let me know in the comments.

Thank you 

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