The Intermediate Guide to Law of Marketing

Last 6 months has been a huge learning period for me. I got introduced to some concepts that no one teaches in colleges but are necessary for career. These concepts and knowledge have the power to transform your life forever.

Knowledge is like love. The more you share the more you get. Sharing knowledge is the purest form of good karma. When you know the ‘L’ of LEARNING ,the rest will come to you automatically. You need not have to run for it. It will come to you. So, here I am sharing my FEW of those with you.

First, I need you to answer a few questions for me. The answers to these questions will tell you whether this knowledge is relevant for you.

I personally believe that it is a good idea to consume knowledge that might not be directly related to what you are doing currently.

Knowledge is a funny thing. You might find application for it in random situations. You might end up applying the knowledge without knowing that you actually used it. The more you learn ,the more you grow and the more you grow ,the more you earn…right?.

Let’s begin by answering a few questions.

Do you have a product that you want to market?

Do you find people constantly trying to market their products to you?

Do you sometimes end up buying products that you never really use?

Do you sometimes feel that there is a mismatch between your product and the audience that you are trying to reach?

Do you want to scale up your business?

Do you wish to learn what marketing is?

Do you wish to become a great marketer?

Do you want to earn one crore worth of sales and learn how to do it?

If you answered “yes” to any of the above questions, then this article is for you.

In this article I will help you discover a few things about yourself.

These are qualities that you already have.

You might know of some of these qualities. However, you might be unaware of some of the qualities that you have. These qualities are lying latent within you.

You need someone to tell you that you have this within you.

I am going to help dig out these qualities that are lying latent and dormant within you.

I will be sharing with you some amazing yet simple models that can help you scale your business to more than a crore.

This is going to sound so simple that you would regret not knowing this till date.

If you love this kind of information and if you wish to transform your life then you have to stay with me till then end.

Don’t worry if you don’t have a product yet. These concepts are powerful and deep.

You don’t always market products.

You sometimes also need to market your ideas and thoughts. You have to be a solopreneur at first for becoming an entrepreneur.

Get the fundamentals down and the level of everything you do will raise.

-Michael Jordan

Aren’t we always doing this as homemakers. We are constantly trying to convince other members of the family about how a certain idea might help them.

You have attracted this information into your life by thinking about it.

When you attract good things into your life, it is your duty to make the best use of it.

Some of you are still reading this. You are still with me.

Some of you have been successfully distracted by the noise around you and have left me.

This focus and attitude towards good information is what is going to make you stand out in the real world.

Now you have proven yourself to fall into the class of serious knowledge takers and I am sure that you will be able to extract a lot of benefit from this article.

I want you to find a quiet corner for the next fifteen minutes. I want complete attention. You can also keep a note pad and a pen ready to take quick notes. I usually do this. This helps me implement the steps after I am done reading the article.

Having said that, let me take you into a new world of marketing.

“Good marketing makes the company look smart. Great marketing makes the customer feel smart.”

Joe Chernov

However, it is important to have clarity about what is NOT Marketing before we step into the world of marketing.

The Fundamentals of Marketing

Many of us know about marketing in a vague sense. We do not know whether it is right or wrong. So let us discuss the fundamentals of marketing in depth.

Marketing is based on Science, not Creativity

Yes, you read it right. Generally, people have a notion that marketing is all about creative advertising. But let me tell you, no that is just a perception. You will get to know as you progress reading this blog. So after finishing this blog, think for a few minutes and let me know your opinion in the comment section, whether marketing is based on science or not.

Marketing starts before creating a product

You need to understand your customer and their needs before developing a product. Developing a product and devising a marketing strategy would not fetch you a good result as the market is full of competitors.

Marketing is about sending the right message to the right person at the right time

If this golden rule is not followed, then you might fail in your venture as conveying a wrong message to the wrong person at the wrong time could cost you dearly.

Communication skill

Marketing is like the engine to an organisation. It is the field or the department that is going to take any company forward.

More than anything, a good marketer has a safe career, a recession free career.

But hey, have you thought of something? We kept talking on how a company created a brand in your mind.

But, how did they do that?

Something that they said or showed has made a connect with you. It made you go and understand their offerings, made you show interest on their products and services.

This engagement that has ensured between you and the company to create a brand is called COMMUNICATION

Sales is not the same as marketing

It is very important that we understand the difference between sales and marketing. When you talk of sales, you are mainly talking about a transaction. Sales is a pure exchange of value. When you exchange money for a good or service that you need.

However, marketing is the process that takes place before the final sales actually happens. Marketing is about product planning, packaging, pricing, distributing and making your product reach the people who really want it.

It is very simple yet very important that we get clarity about the difference between sales and marketing.

Advertising is not the same as marketing

Advertising is only a small component of marketing. It is a paid form of communication that helps people discover the product or service. However, marketing is a much wider discipline and advertising is just a branch of marketing. It would be incorrect to use advertising and marketing as one and the same.

Copy writing is not the same as marketing

Content is a more direct form of marketing that aims to educate the end user about the product features and usage. Again content marketing is a component of marketing and not marketing.

We have now successfully established the fact that sales, advertising and copy writing are only components of marketing and not marketing.

Things that you need to know before you start to market your product

Marketing starts even before you make the product. The first step of marketing is to identify the customer and what the customer really needs.

Then you need to create a product that meets the needs of the customer.

You need to ask yourself a few questions.

Who needs this product?

Where can I find them?

How much are they willing to pay for the product?

How is the product going to help them?

Will they buy the product once or will they keep buying it again and again over a duration of one month, one year and so on?

Once you have clarity about these questions, half your work is done.

The core of marketing lies in understanding your customer and what the customer truly needs. If your product can help make the customer’s life easy, then the product will market itself.

Marketing is closely rooted in consumer psychology. This is why artificial intelligence can never replace marketing. Marketing requires a close understanding of what people want, the way they think and how the product can move them from their current state to their desired state.

Marketing is about sending the right message to the right person at the right time.Marketing is not a career skill,it’s life skill.Every human being have marketed something or other,it doesn’t matter whether it costs anything to us or not.

Once you have all your answers and an understanding of the fact that marketing is about understanding consumer psychology, you will move one step closer to your niche. However, there is a simple test to check if you have picked the correct niche.

What is the Niche and Niche Test?

Niche is a specific demographic where you might have several products or services that are beneficial for that particular group.

Niche marketing is a highly targeted form of advertisement. With niche marketing, businesses promote their products and services to a small, specific and well-defined audience.

The best way to find your niche is to know three things.

Do you have a talent or a skill?

Are you passionate about that skill?

Is there a market for the skill that you have.

If the answer to all your questions is yes, then that is a niche that you can monetize.

The picture below will help you understand this in one view

Put this image on your bulletin board.

I am going to introduce you to other image that you need to pin on your board. If you can just understand these images properly, then that’s all that you need to know about marketing. Make sure that you don’t quit reading before I have introduced all the images to you. If you do then you are going to really miss out on something very powerful.

I call it powerful because these images have the potential to change your life forever if implemented properly.

I am going to deviate a little and introduce you to this very useful presentation that is going to make one crore worth of sales revenue look very realistic and possible.

How do you read the above HISTOGRAM?

This means that if you have a product priced at 100 INR then you need to sell to 1,00,000 customers to make one crore worth of sales. If you have a product priced at 1,000 INR then you need to sell to 10,000 customers to make one crore and so on.

Start with identifying your product price and then set a goal to sell to the required number of customers in order to attain a desired sales number of one crore. Yes, it’s really this simple to make one crore. It seems very much achievable now. Doesn’t it?

We now have an understanding of the product, the product price, our customers and our target sales figure.

The next step is to build a relationship of trust with our customers.

Marketing is a life long process. It doesn’t end with sales. You have to constantly interact with your existing customers and build a relationship of trust with them.

Marketing is more about building a relationship with the customers than just selling a product to them.

Communicate with your customers like you genuinely care for them. Speak to them in simple language. Have a casual conversation with them. Tell them that you want to help them. Tell them that your product/service can help them move to a much better state.

Marketing is the art of effectively communicating to your customer with a genuine interest to help them. When you have a mindset to help your customers, nobody can stop you from being the best marketer. Your work becomes real simple. The product is going to market itself.

There are certain ideas that I would like to discuss with you. I recently got introduced to these ideas and I want to share them with you. You tend to remember the best by sharing the information that you have. I am sure you are going to love the information that is coming your way.

Traditional Marketing Vs. Digital Marketing

With the digital space growing there are many who believe that the traditional form of marketing is becoming obsolete. However, I don’t agree with this. Traditional marketing will always be there and will always be required to sell certain products. For instance, if the product is a generic product like Colgate, Vim Bar, Surf Excel, etc then TV ads can do wonders. TV ad can make the product reach millions at a low cost.

I want you to take a moment and think about a few generic products that we would probably choose to market through traditional marketing.

Now if I am selling a course on parenting for mothers, then a TV ad won’t make sense for me. It will be expensive and I am going to be showing my product to a lot of people who have no use for it. Hence, digital marketing would be the best way to sell online courses. This will help me track my cost per lead, cost per conversion and also help me sell directly to the end user.

For startups like Urban Company that is a market place for services a combination of both traditional marketing (TV ads, radio, newspaper, etc) and digital marketing (Facebook ads, Instagram ads, Google ads, etc) works the best.

Hence, the type of marketing depends a lot on the product that you are trying to sell. It would be wrong to call any form of marketing better than the other.

Pick your marketing style based on the product and the target audience that you plan to serve.

I am now going to share with you a model that always works irrespective of the marketing type you pick. This is true for both traditional as well as digital marketing.

This is called the CATT Marketing Funnel. This is the second image that will be going up on your bulletin board .

What is the CATT marketing funnel?

According to the CATT marketing funnel. W= n^CATT

where,

W= Wealth

n = Niche

C = Content

A = Attention

T = Trust

T = Transaction

I just love how beautiful and simple this formula is. Just try and memorize this right now. Stare at the image for a minute before you read ahead.

The logic is just simple. In order to create wealth is is important that you-

Know what your niche (n) is.

You must create relevant content © in the form of blogs, webinars, videos, etc to make your product visible to your niche.

You must bring attention (A) to your content using SEO, paid ads, social media, etc.

You must build a relationship of trust (T) with your niche

If you have done all of the above that’s when the real transaction (T) will happen.

If you focus on the CATT formula, then you will definitely make a lot of wealth. The more you focus on the CATT funnel the more wealth you make. It is really that simple.

“Content builds relationships. Relationships are built on trust. Trust drives revenue.”

Andrew Davis

The next concept that I want to introduce you to is called the Integrated Digital Marketing.

Integrated Digital Marketing Framework

As the name suggests integrated digital market means that we integrate the different components of marketing and do not use them in isolation.

“Integrated marketing is a method of engaging consumers with your company or brand that combines all parts of marketing communications to work together and assist the customer along their journey of awareness to loyalty and advocacy”.

– The Data & Marketing Association, the world’s largest trade association dedicated to advancing and protecting responsible data-driven marketing

For instance, writing a blog alone is not enough. Your blog has to be optimized for SEO. Writing quality content is not good enough. You have to run ads and make this content available to your niche. Making a product is not enough. You have to find the correct customers for the product and re-target them through emails. Hence, it is important we use the different tools and techniques in an integrated manner and not in isolation.

This image below will help you understand the concept even more clearly.

Integrated Digital Marketing

The CATT marketing funnel will tell you what are the different stages that you need to go through as a marketer. However, the Integrated Digital Marketing Framework will tell you how you must implement the different marketing tools and techniques.

If I put this simply, what this means is that –

CATT tells you WHAT to do.

Integrated Digital Marketing Framework tells you HOW to do it.

Hence, it is important that you pin up both these ideas on your bulletin board. That’s what I have done. You must look at it multiple times till the concepts become automatic to you.

I am sure that you are learning and absorbing most if it. If you are still with me, then you truly are amazing and I am sure that you are going to do something with the information that you just received.

The next powerful concept is the concept of building a personal brand. I personally feel that this is the best way to market anything under the sun. You build a brand with your name.

What is a personal brand?

Building a personal brand means that you have a skill set that inspires people.

Your information helps them. Your knowledge improves their over all life condition.

Having knowledge is not enough. You have to share the knowledge that you have. That’s when people will know of you and start to trust you.

You have to market yourself in order to built your own tribe, that trusts you and gets inspired by you.

It always easier to build a relationship of trust between two people rather than trying to build a relationship of trust between a brand and a person.

Don’t be No.1,be the only one.

The connection between two people is always more personal and emotional. Hence, it is so important to market the knowledge that you have and build a relationship of trust with your customers.

Build a story about yourself that will help people to remember you. What I like the most about building a personal brand is that you can branch out and try different things under your personal brand. This gives you more flexibility in terms of trying new things.

For example, we all know of Jeff Bezos, the founder of Amazon. I think if Jeff Bezos starts a completely new venture it would be very easy for him to market it because people trust him and that will automatically build trust for his products/ services.

Now having established the importance of building a personal brand, I would like to share the journey of building a personal brand. I am going to explain this using the Mass Trust Blueprint .This is the fourth and the final image that needs to go up on the board.

What do you need to build a personal brand?

You need to learn a skill.

You then need to use this skill in the real world and try to implement what you have learnt.

Once you have tried implementing the skill and gathered some real experience, you must share your learning with others in the form of a blog article.

You can slowly graduate upwards and use this skill to consult others.

Then you can become a mentor and consult groups of people instead of consulting just one person at a time.

The final step is to have your own start up where you could use your skills and experience to build a billion dollar company.

The graphical representation for the mass trust blueprint will help you remember this better.

Mass Trust Blueprint

Niche Clarity Blueprint, CATT Funnel, the Integrated Digital Marketing Framework and the Mass Trust Blueprint are four very powerful yet simple concepts that cover almost everything about marketing.

The beauty about anything that’s powerful is its simplicity.

When you put all the pieces together you become the best marketer.

When you stare at these four images you will be surprised to know that you already know a lot.

Don’t feel disappointed if there are things on the board that you don’t know yet.

“Do the right thing as marketers to build trust.”

Jon Dick

Now you at least know what you need to learn. Knowing what to learn is half your learning done.

CONCLUSION

I really hope that you had fun learning about marketing.

I truly was inspired when Digital Deepak introduced me to these concepts.

I had a great time learning from him. I have tried to share most of what I know.

However, in order to find your true potential as a marketer you need to look inside and not outside. You have to ask yourself do you truly believe in your product, do you truly have the attitude to help, do you truly care about your customers, do you really feel your product pricing is justified and do you really feel that you want to master these images.

I still have to connect and implement a lot of pieces. However, I am glad that I now know what is it that I have to do.

Learning never stops. I truly believe that if you stop learning then you not only stop growing but you stop living.

Make sure that you don’t die before death comes to you.

Learn something new today, tomorrow and everyday.

Have any comments? Leave the below.

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