Introduction (Law of Marketing)
What is the Law of Marketing? Is the law different for Digital Marketing? What is the difference between Traditional and Digital Marketing? Did the law change due to Digital Marketing?
If you know the answers, then share them in the comments below. I would love to read 🙂
Well, these answers are quite interesting to know because, for the past few centuries, marketing methodologies are practised and evolved and completely changed the way of advertising.
We all know that in this digital era, every business wants to transform to digital and use the latest methods to reach their new target customers.
Different techniques are used to get the audience but the reality is the law of marketing never changes. It remains the same.
Now, you might wonder why the law of marketing never changes?
Well, the answer is due to “Human Psychology”.
Marketing is not about methods on how to advertise through different mediums, it is actually based on the Psychology of the Human.
So, if we compare it with previous centuries (past) and coming centuries (future), human psychology has never changed and is not going to change in the future as well.
Overall, the law doesn’t change irrespective of any methods that are developed past, present or future like (Traditional and Digital).
So, till now we have understood about the Law of Marketing. Now we will try to understand the real difference between Traditional and Digital Marketing.
Traditional vs Digital Marketing (What is the main difference?)
As we discussed earlier that the techniques have changed concerning time.
Previously, Traditional Marketing was used to reach new customers via radio, TV, magazines, newspapers, banners, etc.
But, in the present digital era, due to the high usage of the internet, people started using it to promote their products and services to reach out to new customers.
The methods that they use in Digital Marketing are,
- Email Marketing
- Affiliate Marketing
- Content Marketing
- SEO (Search Engine Optimization)
- SEM (Search Engine Marketing) like PPC, Google ads, Facebook ads, etc
- Lead generation
Click the button below if you want to read about the different types of Digital Marketing in detail.
Now, let us understand the difference in detail.
|Factors||Traditional Marketing||Digital Marketing|
|Medium||Physical and digital||Purely Digital|
|Type of Buisiness||Local Businesses||Local and International Businesses|
|Use of Internet||Don’t use the Internet.||Uses Internet.|
|Examples||TV, radio, newspaper, banner, poster, etc.||SEO, SEM, Affiliate Marketing, etc.|
Even though Traditional Marketing is quite popular and still in use and is suitable for local businesses which sells commodity in that country only whereas Digital Marketing is good for both Domestic and International business.
Now, let understand in dept about Digital Marketing and its statistics to approach a new customer.
Digital Marketing is a dynamic field in which the tactics keep changing, it is not fixed like the traditional ones.
As I said earlier, even if tactics change in the field of marketing (traditional and digital), the basic fundamental doesn’t change because it is rooted with human psychology which never changes.
“Digital Marketing is more about marketing than about digital”.– Deepak Kanakaraju
Now let us know more about the tactics in Digital Marketing which is quite popular.
The CATT Marketing Funnel
The CATT Marketing Funnel is a framework used to acquire a target audience of their niche (topic). It contains 4 steps that we are going to learn in detail.
So, the 4 steps in this framework includes,
- (C) Content
- (A) Attention
- (T) Trust
- (T) Transaction
Content: The first step of this framework is to create content to attract the audience of your niche. There are various mediums which we can provide content like blogs, videos, lead magnets, live webinars, etc.
Attention: The second step is to get attention from the audience. We can use SEO, paid advertisement (like Google ads, Facebook’s ads, etc), social media and referrals.
Trust: Build trust in the audience is the third step in the framework. You can build trust by providing regular quality content, being active in social media, interacting with the audience, marketing automation and retargeting.
You can also build trust by building personal branding of your company or as a person. We will discuss about that later.
Transaction: This is the last step of the framework in which leads will be converted to customers naturally.
This framework uses a formula that decides the success of the company of their niche.
It is calculated mathematically as,
Wealth = n ^ CATT
Where, n = niche.
C = Content
A = Attention
T = Trust
T = Transcation
Note: Your success depends on the niche (n) you choose.
You can refer to the below image about niche selection.
For selecting any niche, make sure that you should have all the three elements like talent, market and passion.
Integrated Digital Marketing
What is Integrated Digital Marketing?
Integrated Digital Marketing is a combination of all the methods which comes under a framework in which every element is systematically connected to the process.
Usually, today’s marketers only select a method and try to get results from it, but unfortunately, it doesn’t work as expected because they are not properly utilized.
The effective approach is to utilize the methods in a systematic (step by step) way and needs to cover all the methods (not only one).
We can see in the above picture, that the methods are interlinked with each other.
One of the effective ways is to run a paid advertisement to your content and convert the visited to subscribers to the email list and then slowly nurture and promote to them the product and service that we want to offer.
So, instead of directly selling the product or service, you can use this framework.
You can use another approach by using SEO, where you will write the content and rank it on search engines and get organic traffic.
If the people liked the content you wrote, they are going to share it on Social Media, which again brings traffic to your blog.
So, this is all about Integrated Digital Marketing.
Previously, we have discussed that trust can be gained by building personal branding. Here we are going to understand in-depth about it.
Personal Branding is very important and also has many advantages. So, building a personal brand is one of the important factors especially in terms of human psychology.
Because people tend to buy a product which has more popularity and demand of a particular niche.
Even though if the competition is high, you can easily win the audience. This is a major advantage.
So, if you want to build a personal brand, then you need to follow a few steps which are mentioned below.
The Mass Trust Blueprint
This blueprint has 6 major steps. Those are,
Learn: Learn by understanding the concepts, remembering the facts and implementing the procedures.
Work: If you want to enhance your learning, then implementing and working on it is the better way. You can work to gain knowledge as well as experience. You can do the project as well.
Work = job / freelancing/ projects
Blog: Writing a blog is the best way to remember the topics that you have read. The main benefit of writing a blog is that you can share your learnings with the entire world.
Consult: Now at this point, you have good knowledge and experience in it. So, you can reach out to the companies and consult them. You can implement the facts practically that you have learnt earlier.
Mentor: After consulting, you can start teaching other people as a mentor. So, mentoring helps you to gain exposure to the audience by teaching and providing valuable and resourceful information.
Startup: At this point, you will be an expert in this field and can do startup by creating any product or service. You can even create useful software for businesses. So you can have B2B and B2C business models to prepare.
So, this is the blueprint that helps you to build personal branding.
Summary: (The Law of Marketing)
- Marketing is not about the way to promote through different mediums or techniques, it all about Human Psychology.
- Methods may change, but Human Psychology remains the same.
- The law never changes and it is independent of the methodology.
- Traditional marketing has been practising for the past few centuries and Digital Marketing has come recently which uses the internet as a common resource.
- Integrated Digital Marketing is a procedural framework that helps us to succeed with Digital Marketing effectively.
- Personal branding is one of the laws of marketing and has many advantages of having it.
If you enjoyed reading “The Law of Marketing”, then make sure you share this post and don’t forget to ask any doubts in the comments. Thank You 🙂