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Basics of Marketing to Achieve the Financial Goals

This article gives an overview of the fundamentals of marketing, significance of finding your niche and of good communication skills in marketing, why the content is at the core of marketing campaign and the benefits of digital marketing over traditional marketing. The article also gives information about CATT marketing funnel to create wealth, integration of various aspects of digital marketing and developing yourself as a personal brand to gain the ‘Mass Trust’.

It is worth a read for the beginners who have set their financial goals. It gives an insight into how to make use of marketing (especially digital marketing) to achieve those goals, skill sets required for that and guidance to acquiring those to ultimately reach the goal. The reader can further explore the tools discussed here to expand their knowledge and develop the required skills.

In order to achieve the financial goals, marketing is an excellent profession to be in.

Marketing is a science, based on understanding the customer, their needs and creating a product that fits that. Build your brand to capture position in the customer’s mind. With a great product, marketing helps people to discover it and gives a great perception about it. For this, you need to send the right message to the right people at the right time. It is important not just to get customers, but also keep them happy so as to retain them and they will become brand ambassadors of your product as they will publicize it through word of mouth.

Marketing involves understanding human psychology and so cannot be taken over by artificial intelligence and this is the profession which is here to stay and hence it is a wise decision to invest time and energy to learn and be a professional in the field of marketing, as it will prove to be beneficial for a long time.

Marketing is highly profitable for any company as it gives direct returns on investment compared to other departments like administration, accounts, manufacturing etc. and no company can outsource the marketing completely. The founder and directors of the company must know the basics of marketing, then only they can take the correct decision as to what product or service to offer that will sell (knowing the needs of the customer).

Once you have set your income related goals; the most important step to begin with is finding your niche. You need to be fully aware of what you are passionate about, what your exceptional talents are and how you can apply that to the market. Once you have created your niche successfully, build your brand strongly to beat the competition, position it differently than the competitors giving it a unique image. Then create meaningful content to gain attention and trust of your customers, eventually leading to the transaction and revenue generation!

The most significant aspect of marketing is the communication- both verbal and written. A good marketer must have excellent communication skills, both in writing and in conversing. Get into conversation with people, first listen and then join in depending on the topic that the other person is happy and comfortable talking about. You can have conversation with your audience through emails, meetings, events etc.

It is extremely important to create good written content, that people want to read. Find out what interests them, what your audience needs. Good content needs to be marketed well also. E-mail is the best channel of communication. First build a significant subscriber base, let them know about your newly published content, which is the best way to market your content and spread your brand. Always give them something of their interest, need to gain their trust. You get attention and trust from people, so then when you publish content, they want to read. The content marketing builds awareness and trust through the brand engagement and this trust can be leveraged to sell something, creating revenue and motivating you to generate more content.

With traditional marketing through newspapers, radio and television, you are not sure whether it is actually reaching your target audience and if it is creating any impact on them.

Digital marketing is very specific, target oriented, which could be through email, social media or SEO where you can build a personal rapport with your customers and therefore, it proves to be more profitable.

Wealth= n^ CATT is the basic equation.

’n’ — Niche is the most important factor, which has to be established first as explained earlier; keeping in mind your passion, talent and market (what is required by the customers).

C- Content

You need to create an effective content that will capture your audience. One can follow the four-step process to generate creative content that will help someone, will create value and give you positive feedback, instilling confidence in you to generate more creative content.

Step-1: Gain knowledge by reading books on different topics, historical events, science inventions and discoveries.

Step-2: Relate your experience from your memory of past and present work to this newfound knowledge. Content is perceived differently by everybody; you write in your context. It needs discipline and intelligence to execute this brilliantly.

Step-3: Take time out and be alone for some time, let new thoughts and ideas flow. This may not be an easy task. You will need to be away from social life and social media as well for this. Surprise yourself with what your mind can achieve, you will gain new life with original thoughts, you will know your passion and will see life in a different perspective.

Step-4: Do not hold onto these new ideas and insights in your mind. Manifest them into words, let your thoughts flow, start writing, keep writing. Edit it later to put in a format that is easy and understandable for others to read.

A-Attention

The content that you have uniquely created, if effective, will create an impact on your audience, grabbing their attention and they will want more from you.

T-Trust

Over a period of several well written articles that relate to the needs of your audience, they will connect with you and eventually build a trust in you.

T-Transaction

With this trust, then when you want to sell your product or service, they will buy from you. This will eventually generate revenue leading to the wealth creation!

The 5 main methods of doing effective marketing in a digital way can be all integrated to gain the best result.

At the center of this is the ‘Content Marketing’, one of the best ways to do the online marketing. People use the internet to find information, exchange information and do transactions. Finding information is a major part of it. Before making a buying decision, consumers collect data and information. It is much better to educate the customer about their needs, ignite their desires and then present the product or service in front of them when they naturally feel ready to buy and are convinced that you are the best one in the market. Such information can be given to the potential customers through the content marketing and the best approach is to integrate content marketing with email and social media marketing.

First get people in your email list. Then initially, just create content and send. Do not ask for payment, but seek their attention. Send signal to search engine that you have this content available. Social media can also direct to your content. You can run paid advertising campaign for your content to give it a boost and eventually customer gets converted to buy your product. This framework drives the CATT funnel.

It is very important to be known to the people.

You may be good in your work, creating content, digital marketing but people need to be aware of that. You need to promote yourself to become a personal brand.

Step 1- Learn a new skill by understanding concepts, remembering facts and practicing the procedures.

Step 2- Must put your new found skill to implementation. For better understanding, take up a job, be a freelancer or work on your own project.

Step 3- Start writing about your knowledge and experience. Create your own blog.

Step 4- People will develop trust in you through your blog posts and will come to you for advice, so you can begin paid consultation service. You can evolve into gaining ‘Mass Trust’ (courtesy-Digital Deepak)

Step 5- You can become a mentor, start teaching others.

Step 6- Can begin your own start up.

Synopsis:

In this article, the basics of marketing with respect to the significance of creating your niche, great communication skills, developing quality content, integrating it with other modes of digital marketing to drive the CATT funnel and developing yourself as the personal brand to generate wealth are elaborated.

In the next article, there will be a discussion of how the Indian economy can be subdivided into groups and which group should be targeted to create your niche audience to generate wealth and eventually reach your financial goals while working in India as a digital marketing professional.

This article is written with the help of valuable inputs received from Digital Deepak Internship Program.

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