What did I learn today? From Digital Marketing Internship by Digital Deepak

Finding the gold:

Everyone of us is a treasure hunter who is in search of finding something that is valuable to us. Deciding where to compete is half your success.

The famous management guru Peter Drucker said that, “Design great product or service that doesn’t require marketing”. But in the real life, creating a flawless solution (product or service) that caters to all your needs may not be possible all the time. One need to take the help of marketing to make sure the best fit product or service reaches the market segment that needs it.

The ever-expanding market:

Human needs are unlimited. In the process of creating solutions (products or services) to the needs, new products and services are getting generated which in turn leads to generation of more dependent products and services. For example: Mobiles lead to creation of mobile cases industry which is not there prior to mobiles. Therefore, market needs always expand and hence the solutions for those needs.

Niche markets

The needs lead to creation of creation of products or services which can be used only by a small segment of market. Such market segment can be called as niche market. For example: A store which sells vegan products.

Communication:

It is the foundational skill for any type of wealth creation. It is a skill which involves not only communication what is there in one’s mind but also listening and conveying what the other person wants.

The core skill is about what to communicate and whom to communicate. This understanding will help to identify the needs of the people which in turn can lead to creation of solutions which provides more value to the people and can help to create more wealth.

Digital marketing:

Digital marketing is more about marketing than digital. The medium through which the communication happens is not that important and it is bound to change. In order to be a digital marketing expert, the core skill is marketing and then follows to focus on digital. Unfortunately, the people are falling into the trap of digital techniques. They are focusing more on how to communicate rather than what to communicate. For example: A digital marketing expert who works for a B2B business is posting ads on social media. Therefore, it is necessary to improve communication skills to become a better communicator which leads to become a better digital marketer.

What is the future of digital marketing?

Marketing is there from centuries. Digital marketing is a better way of marketing. Digital marketing can die if and only if marketing dies. The world is moving towards digital and people stopped looking at the fellow persons while they are walking and are consumed more into the mobile screens or with earphones in their ears listening to content. As a result, the traditional ways to communication may not be effective in this case. The marketers are slowly moving from traditional ways of marketing and adopting the digital ways of marketing. Therefore, the need for digital marketers will be increasing.

Integrated Digital marketing

It starts with content marketing which is the foundation of everything on internet. Without content, we cannot move forward. The traditional flow doesn’t work anymore due to n number of products in the market.

Once the content to be marketed is ready, go ahead and share it on social media. The people who consume the content leaves footprint for the Search Engines which in turn will drive the traffic to the content. The email list can be built based on the traffic by using lead magnet. With the help of email list, any new content can be shred to them which will increase the traffic to the content and SEO picks it up and the cycle goes on. This can lead to sell & convert through which paid marketing can be taken up and the machine runs automatically. Hence the key factor here is the content.

How to select a Niche?

‘If you are everything to everyone then you are nothing to no one. ‘

Selecting niche is a combination of talent, passion and market opportunity. For example: If a person is a good volleyball player and both talent and passion in the sport but he/she cannot create a niche out of it since there is not much target audience for it.

Market positioning is an important aspect for any product or service. Niches keep expanding and more and more niches will evolve in the market. Position your solution to a niche and become number one in that niche (because people forget the number 2). The riches are in niches.

The people in the niche are experts and niche will get drill down to an unimaginable extent. For example: Digital marketing, SEO, SEO for eCommerce. When an eCommerce company want to recruit a digital marketer, it looks for a specialist in SEO eCommerce rather than a person who knows digital marketing. These experts are highly paid as compared to generic people because experts are considered to be more valuable. When people are drilling down to niche, don’t consider they are losing out on the generic market. They are serving a very small set of market, but their margins will be more. For example: Android has a market share of around 70%. But the margins is less whereas apple has less market size but serves the premium segment hence can have greater margins.

How to find if there is an opportunity in the market?

There can be many ways to find the market opportunity viz market research, surveys, secondary research etc. Finding out your own problems in one of the top ways to find out the market opportunity. Scratch your own itch. Try to create a business out of your own needs.

Keyword research

In this technique, find out what people are searching for in internet. This gives an idea of what people an looking for. Eg: Adworks keyword, Ubersuggest, Ahrefs, SEmrush etc. None of the tools gives accurate data. Therefore, use multiple tools to reject the null hypothesis.

The market opportunity can be identified based on high purchase intent keywords. One can ignore the research-based searches. For example, if a person is searching for pollution, then he/she is trying to gain information on that. If the person searches for air purifier, then it has purchase intent.

Long tail keywords- The people will serach based on long sentences rather than just keyword. For example: Cheap Hotels in Goa. It is irrelevant to show hotel ads in Bangalore when they are searching for Goa. Therefore, it is better to get traffic based on the long tail keyword.

Competitor research

This technique can be used to find out what keywords are searching the traffic to your competitor website. If there is a particular keyword related to your competitor product which is bringing more traffic, then consider there is more demand for that demand and try to consider building a better solution for the need.

Google trends

It can be used mainly for finding out what topics are trending, how competitors brand names are close to you and find topics across countries.

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