Why my mom was right about marketing
A mother has a special place in everyone heart & my MUM shared an amazing idea about marketing & sales, which will smoothen your way towards generating a lot of sales and ultimately making a lot of money.
We know that sales makes a lot of money & sales need marketing, either digital or traditional, the ultimate aim of marketing is always SALES.
So what’s your target — 1crore,2 or 3 or more, what should be your plan of action to achieve that target, to take your business to that height.
This is what you will be learning in this article
“A complete plan of action to achieve your first crore target”
Now if that makes you an eager beaver, you should stick to the end to learn what consists of your plan of action:-
- Product/Service creation
- Marketing
- Understanding Economics or understanding your target audience
- n^CATT
- Personal Branding
And, finally the secret sauce my mom unknowingly shared with me ( may be not that of a secret, may be you already know it, may be you’ve heard it but I’ll share it in a way that you’ll finally understand it).
Note:- Mum isn’t a marketing a genius.
How to make 1 crore?
You can see the image above, four ways of achieving your first crore target, which one would you prefer?
Most would choose, the second or the third one — sell ₹1000 product to 10k customers or ₹10k product to 1k customers & WALLAH you’re a Crorepati.😂
But, this would also include the cost of manufacturing the product, marketing, management, shipping also if it’s a physical product. And the biggest of all how would you reach a l00k, 10k or even 1k customers.
The solution to this is FUNNELLLZZZZ!! or simply marketing funnels 😊
The best strategy would be to create a loyal customer base by acquiring each customer for a low ticket ₹100 product, let’s assume you can get 30k to 40k customers and the cost per customer acquisition is around ₹60–70₹. You don’t make much profit but now you have over 30k+ customers ready to receive emails & updates from you.
Tip : Providing value to your existing customers in form of freebies or valuable information would make them love your product or service and become loyal and build trust. (CATT funnel- will explain later in this article)
Once trust is built, you can move from step one to step two or skip and jump directly to third or the fourth depending upon how much value you can provide to make customers trust you even more and sell products worth rupees more than 10k as well.
You must would have seen a lot of online gurus using this funnel, by selling their courses or live workshop for as low as ₹99, ₹299 or ₹499 and upsell their mentorships later in a webinar ranging between ₹10k & up to ₹20-₹30k.
Build a customer base, provide them value and upsell them with a high ticket offer
This is what CATT basically is, but there’s also an ’n’ before CATT remember?
n stands for niche!
your success & wealth depends on the niche you chose, so let’s first understand niche selection.
Niche selection is quite simple,
It consists of your talent, your passion and the demand of the market.
where all these 3 things meet, that’s where your niche is
Find out what talent do you have & are you really passionate about it? is there a need in market for that talent? are you able to monetize it?
Ding! Ding! you found your niche.
But But But!
You cannot go and start working on creating a search engine to compete against google or some new E-com site against amazon or start off with fitness niche, E-com niche, relationship everything all at once.
The better way to start is by selecting a sub niche, if you still want to create a search engine, then go deeper into that like creating a search engine for businesses only or maybe more deeper like a search engine for lawyers only or something like that…. you get the idea 😉
or dive into a niche where no one else is working on-
Don’t try to be the #1
Be the only one
CATT : Content · Attention · Trust · Transaction
Content is King, no doubt in that
suppose your niche is Health & Fitness & you create content around losing weight which is widely searched keyword that can bring evergreen traffic to your blog or videos.
You need to drive traffic now!
or else how would people know about the wonderful content you have created that can help them in their weight loss journey 😉
Traffic brings Attention to your content and great content gets you loyal followers.
Attention & Content are like chuddy-buddies for building your base.
Next Step to build TRUST by getting customers thirsty for content using tripwires, nurturing email leads to ultimately get them to buy your service or product naturally.
Naturally means you do not have to push your target audience with sales call or things similar to that, instead your leads, your followers are loyal to you and will be happier to buy your product as they’ve seen the value you are providing and trust that your product will be awesome.
Personal Branding can help 100x times more in making the last step of Transaction successful with more sales then before. We will talk about that later in this article.
Marketing Basics & understanding of funnels are all done, now comes the product creation part, you might be wondering why product creation came after marketing and funnels.
The answer is you need to understand the market before you create your product, you need to understand if your product solves the problem or needed in the market, you must create a Problem Solving Product (PSP) to win.
“marketing starts even before you create your product”
Knowing your customers and their needs will lead to creation of a PSP & a major advantage of PSP is that product will market itself. For instance, if you find a great product that solves your problem and is quite affordable too, you’ll more likely talk to your friends about it and this is called “word of mouth” which is known to be the strongest form of marketing.
Economy also plays a major role in determining the success of your product.
Let’s talk about Indian economy, suppose you want to launch a product in India then you should know who will and who won’t buy your products, how big is your market audience — this is called audience research & targeting.
Below you can see Indian economy has been divided in to 3 categories where it shows the total population of different categories and how much per capita income and GDP is generated by that particular category.
Hence, giving you an idea of the target audience you have.
For example :- If your product falls in to a category where the customer needs to have a credit card to subscribe or purchase your product or service then you can see the image below that says, only 37 million out of 110 million population of Indian economy category 1 own credit cards, similarly with cars, iPhone and travelling internationally. So now you have the data of estimate number of your target customers & data is crucial in marketing, hope you know that already.
The nature of the product will also determine which type of marketing will prove to be more effective for selling out your products.
Digital or Traditional
The fundamentals of marketing however remains the same whether marketing is digital or traditional only the medium changes.
Traditional marketing is a broad way of approach and mostly used for generic products to reach as much audience as possible, costs a ton of money and quite effective in branding of your product, like TV ads, newspaper ads, bill boards, radio etc…. Traditional marketing has great reach.
Digital marketing is the best medium to reach the first category of Indian economy, to reach the affluent English speaking population and with better spending power than other two categories.
Digital marketing is better for new business to reach out to there potential customers via digital medium at cheaper cost then buying TV ads or using Traditional marketing, since it will be unnecessary to reach a million people unintrested in your business than reaching to narrow targeted potential customers.
New business or startups can use integrated digital marketing to make the customer pullout their cards to make a purchase. Rather than just using paid ads, or just using SEO or any other marketing channel individually or without integrating them all together
The best way would be to create content, run Ads — get your customers to consume your content, build trust and then make a transaction (CATT funnel)
Refer to the above image to better understand how integrated digital marketing works where you focus on creating quality content and focus all other marketing channels around your content this way you can get one visitor into an email lead, into a website visitor, a social follower or the best a loyal customer. This is how you get most out of 1 visitor alone by using integrated digital marketing.
Personal branding is an important aspect of digital marketing field & quite in trend nowadays where everyone is trying to get followers and build a brand of themselves on Instagram.
I too had an account (inactive now) on Instagram @digital.vicky where I used to post daily content about Instagram, money & marketing. I had sold a few courses of mine from that account without ever creating any landing page or running ads for my course, this is what personal branding means. ( The account is still up on Instagram btw… you can take a look )
People know you & trust you because of the value you are providing them, because of the presence you are making in your particular field.
A similar and more powerful example of this is a recent video posted by Rahul Bhatnagar, another name in digital marketing and personal branding. He recently posted an IGTV about how he made over 56 lakhs+ in just 28 days with a new venture of his without running any ads or even creating any website for their high ticket venture (price is around 40k)
All by just promoting it on their IG handle, that’s it. Just by posting about it on Instagram they’re able to sell their high ticket offer without any ads and made over 56 lakh rupees in just 28 days. Isn’t that crazy awesome.
Best way to make a presence is by starting out in a particular niche rather than competing with a dozen other people and connect with your audience, show your face, make a connection with your follower or subscribers.
( don’t be insecure about your looks nobody cares unless you provide massive value😛 )
To evolve as a personal brand, you must understand the MassTrust Blueprint cycle of — learn, Work, Blog, Consult, Mentor, Startup
Without learning a skill you cannot build a personal brand. Learn a new skill in a specific niche and master it by practicing the procedure (niche selection is already explained above).
Implementing the skill to work is next major step towards building your personal brand, whatever you learned you must implement in to the real world, by getting a job in that selected niche of yours or freelancing or implementing the skills in your own business.
Blogging about your work experience & skill is important because without writing you cannot build a personal brand, nobody will know that you know something even if you’re really good at it.
Writing without implementation of that skill in your own life is not recommended as the quality of your content will be far more better, if you write after you have implemented that particular skill in your own life/work or business.
You can then add your own case studies to give the readers inspiration and ideas about “how it’s done in the real world”. You can combine your skill and work experience to provide massive value and create a unique content to stand out from the crowd, make a noise & make a unique identity for yourself aka Personal Brand.
Fourth Step, when you have a blog you can reach out to people or most likely people will reach out to you & you can start consulting clients instead of working for them as a freelancer and working on their projects. You can consult them on how it’s done.
Once you have a blog with unique content you gain the authority and trust from your followers or blog readers. By blogging you position yourself in such a authority that people will be eager to learn from you and get consultation from you & you can move from working on their projects to consulting them on their projects, being a consultant you create an authority for yourself because you’re not just a freelancer now, who works for the client instead clients are now eager to listen to your consultation to do better in their business, making a name in the market, building you personal brand more and more strong.
Blogging and Consulting gives you more clarity about your own skills then there is Mentorship that gives you a whole different level of clarity because it’s not writing about your work & skills, It’s not consulting clients one on one. It takes a lot of effort to mentor because mentorship is about teaching a group of people who want to become like you, it’s more like consulting not a single client at a time but a group of them altogether.
You cannot directly learn a skill and start mentoring others, you’ll mostly likely fail this way, you have to go through the proper steps of — LEARN, WORK, CONSULT & MENTOR
As it takes a lot of effort in creating content, consulting a bunch of people and also answering to their questions and helping them solve their problems.
This is another step towards building your personal brand, not everyone can become a mentor, but if you can, in your specific niche you’ll be getting a lot of traction from people who’re interested in that niche
for example if you start a mentorship program to teach common people to lose weight, gain a healthy and confident lifestyle, you’ll be known by other people who are already in that niche or interested in what you have to offer.
Startup : This should be the last step after you’ve built your personal brand, a name in your particular niche which is known by your target audience widely. Once you go through the MassTrust Blueprint of Learn, Work, Consult, Mentor and finally when you’ve mentored and done consulting for a lot of people it will be easier for you to get clients for your startup.
Also, it is necessary to go through the process step by step in order to create a product/service that will sell. Creating a startup requires understanding of what works and what not that you have developed about the market going through the different steps of MassTrust Blueprint, by understanding the most common problems and requirements of the people in your niche.
This should be your plan of action for making a lot of money from learning to finally understanding the market and creating a successful startup.
Building a personal brand is the final step before creating a startup and hitting your first crore target
For instance : Elon Musk is the CEO of Tesla & SpaceX, but he’s a personal brand as well, his personal account has more follower on twitter than Tesla or SpaceX. He’s so famous that he doesn’t need much marketing to sell his products, if he decides to build a new business along with the existing ones, he’s more likely to succeed in it because people trust and follow him, so they’ll trust his business and more likely consume it’s products.
“This is called MassTrust”
Now, finally that secret sauce my MUM taught me to generate huge revenue in your business is
KAR BHALA TO HO BHALA
you are most probably thinking that this sounds more like a KARMA thing, you’re not wrong, it really is about KARMA
But I’m a business minded person so everything I hear I see it from the business perspective of mine.
Moreover, she said these when we were having a conversation about a relative of our who had a good successful business in real state, but the inside story was that he’s more like con man. Fools people with bad deals and low quality materials. Eventually he got bankrupt & had to flee from his house as many people and police was chasing him for good.
So, as this conversation came to an end, my MUM said those lines which are related to KARMA but I interpreted them in my own way & came to a conclusion that money can be made only when you add value to people’s life, you cannot make a lot of money with intention to squeeze cash out of every one by selling them some poor quality product or service.
Let’s look at big brands for example like —
Amazon- Makes shopping easier for people
Google- Every information is at your finger tips
Earning money is a by product of adding value to peoples life
This is how you should understood that quote KAR BHALA TO HO BHALA. How it has a meaning in business life as well which my mother unknowingly helped to understand.
You most probably knew this but there’s a big difference between knowing & understanding things.
Comment down if you understood the meaning & agree with my MUM or shall I complain to her about you 😠
So Remember, you need to go through proper process of
Understanding the market, creating FUNNELLZZZ
Creating a Product and finally implementing the MassTrust Blueprint to make your first crore.
Personal branding is the key to long-term success, your business or startup might fail or succeed but your personal brand will always be there with you. Your power to influence your audience is the key to making any business successful.
Note:- You’ll probably hit your first crore target even before you reach the last step of the blueprint.
It’s over a 3000 words article & If you have made this far
Congratulations!
My content is good 😂
And you now have a complete plan of action for becoming a CROREPATI, Wallah. 🔥
Show me that you’re an action taker by leaving a valuable comment down, you can share your own action plan to help fellow readers.
