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Are you among the people who want to make huge money, say a Crore?
Hi folks! Today I am going to shed some light on how to earn 1 Crore Rupees in the marketing field. But before that let’s learn basics like What is Marketing? Marketing is identifying & meeting human & social needs with some profit. The below figure shows the same profits & how a magic figure of 1 Crore can be attained.
As seen in graph above if you have 10,000 rupees product & have 100 customers then you can easily make that 1 Crore & hence so forth graph even shows with increased product price & decreased customer base. Let’s now jump to the process of making 1 Crore.
Process of making that Crore: It is good to be knowledgeable in all aspects of marketing. But, to be a leader you should have a NICHE or to go deeper a niche within a niche (sub-niche). Say, Lead Generation with Fb ads. First, you should learn, then apply your knowledge or practice it & then sell it as a service helping clients increasing their as well as your revenue.
Law of Marketing: People usually don’t agree with me but marketing is a science in which both your left brain & right brains work (Creativity & Analytical). It’s a game of reaching the prospect at the right moment with right (time/message/person).
Commonly people assume marketing is only they associate a salesman. But, marketing starts before the actual launch of the product or before the product is released in market & remain continuous so that customers become loyal customers for lifetime.
Marketing efforts decreases as brands grow. So, same effort won’t be required later. Marketing can even be used in unethical way. (Ex: Sending mails even if the leads haven’t opted for). So bulk email clients allow sending only subscribed mails so that process goes ethically. Even a domain is blacklisted if its spam score (Email reputation) is bad.
Actually, a very good & unique quality product doesn’t need that big marketing campaigns, they sell themselves. Word of mouth marketing is the best form of marketing ever. (Ex: Dropbox initially didn’t use Google Ads, but they added virality to their product).
If say; you want to become a Fb ads expert, then, you need to learn little bit of Copywriting & graphic design. Advertising & Copywriting are components of marketing.
Branding/Category Leadership: The word ‘Microsoft’ has entered Oxford’s Dictionary. Zoom is becoming a verb like Xerox & Google. People are saying, “let’s get on a Zoom call”. This is the signal of great branding & category leadership.
If you cannot be a leader in a category, be a leader in a sub-category, because, people at the most remember only No. 1 & No. 2 max. (Ex: If you ask people about top OTT Platforms in India, they will say Prime Video & Netflix, they then confuse themselves with Hotstar & call it as an app.
Hence to have unique angle in competitive market branding is necessary.
Marketing Education: Marketing education has a long shell life because Marketing was alive 1000’s of years ago & will be alive 1000 more & it is rooted in human psychology & understanding. But not its “Digital” part. Nobody knows when a new update comes.
A CEO should know marketing fundamentals to get direct ROI (Return on Investment) as he can’t hire a marketing team from day 1. Also, marketing cannot be outsourced completely.
Good Marketing is all about good communication. Here, communication doesn’t mean good English. Communication here refers to expressing thoughts in a fluent manner to customers. If you communicate well the product would sell itself. Write as you talk. Join a conversation in people’s minds.
Digital Marketing Vs Traditional Marketing: There is this famous Digital Marketer named Vaibhav Sisinty, he runs growth hacking courses, He believes that people, in order to glorify Digital Marketing, are actually de-glorifying Traditional Marketing. And, he shared an example of how a hoarding in front of a mall acted as a retargeting ad for a cab service business.
People underestimate the power of Traditional Marketing. The only difference I see is in Traditional Marketing you don’t get:
- Easily choosing TG (Target Audience).
- Better ROI due to specific Targeting.
Traditional Marketing is still not dead. Radio has a reach of 65% of Indian Population. Newspaper has a reach of 465 Million people (Source: Business – Standard).
Integrated Digital Marketing: Let’s assume you are planning a Digital Marketing strategy. Let’s say, you want leads & you have made a Landing Page & Setup an Email Sequence. Now, for bringing traffic to this you need to try ways such as
- Organic (With the help of SEO).
- Paid Advertising.
- Email Marketing.
- Social Media.
People try to get results using above ways by acting/working separately. But one need to integrate all above said ways/components for better outcome. This is Integrated Digital Marketing. Below is the working theme by famous Digital Marketer – Deepak Kanakraju
When we work integratedly we have following benefits:
- Here, continuous signal is been passed on to Search Engines.
- You meet customers at different stages of customer journey.
Power of Personal Branding: You can take examples of brands like MDH Masale & Patanjalli. There is one thing common in both brands. Here, the main promoter or CEO himself comes in their ads. Patanjalli, where people have more trust in Swamy Baba Ramdev & MDH where the CEO decided himself to act due to a late coming actor. Both are good examples of Personal Branding & are successful brands. Let’s look at some of the advantages & disadvantages of a Personal Brands.
- A personal brand cannot be sold.
- A personal brand can give rise to many brands from his/her influence.
- A Personal Brand becomes the influencer & person becomes Brand Ambassadors.
Evolution of Personal Brand: Let’s see step-wise as to how a Personal Brand evolves.
- Learn: First step is to learn a new skill through understanding the concepts, remembering the facts & practising the procedures.
- Work: The second step is to put your new skill to work or implement what you have learned.
- Blog: Third is write about what you have learned. This way, you remember well & can refer in case you forget.
- Mentor: Fourth is; be a mentor to all those who want to be like you. This is the stage your Personal Brand blooms.
- Startup: Fifth & final stage in this journey is starting your own product or service business.
These five stages can be clubbed together in a cycle like in image below, called as MassTrust Blueprint. Figure below shows such a cycle.
Trust Blueprint Digital Marketer Deepak Kanakraju found this so interesting that he purchased the domain name masstrust.com. This article is part of the assignment of his Digital Deepak Internship Program.