Question 1. Which person comes to your mind when I say the brand name Apple?
Question 2. Which person comes to your mind when I say the brand name Patanjali?
Answer 1:- Steve Jobs.
Answer 2:- Ramdev Baba.
The answers were kinda obvious. Steve Jobs & Ramdev Baba in my eyes are the best example of a Personal Brand. They have all the attributes of a GREAT BRAND. They have a sense of competitiveness, both are distinctive, they are passionate about what they do, they are consistent, and have great leadership quality.
Just the mention of these names and you start seeing the MASSIVE BRANDS which they have created. Apple is now $2 trillion, the most valuable company in the world. Patanjali group eyes to be Rs. 40,000-crore company in 2020. All of this started by creating Personal Brand, a Personal Brand that would transcend generations.
So what is the definition of a Personal Brand?
A personal brand is a widely-recognized and largely-uniform perception or impression of an individual based on their experience, expertise, competencies, actions and/or achievements within a community, industry, or the marketplace at large.source :- https://personalbrand.com/definition/
Now that is the simplest definition of what I can call a Personal Brand. A Personal Brand helps customers differentiate one commodity from the other. Essentially then Personal Branding is a conscious and intentional effort to create and influence public perception. Because in any marketplace there are thousands of similar people, products, and services. All of them essentially commodities, easily replaceable, and replicable.
A Personal Brand helps you cut the Clutter. Get the attention because is the biggest asset that potentially leads to a transaction. A Personal Brand helps creates trust.
Why do we need Trust? Because “Trust Translates To Transactions”
Your brand is what people say about you when you’re not in the room. – Jeff Bezos, founder of Amazon.
Trust Translates To Transactions.
Personal Branding is the new black and yellow (black and yellow only because they are my favorite colors.)
So why would you as a person want to create a personal brand? What kind of transactions are you aiming for?
On a personal level getting a job at with the first basic level transaction. Secondly, you might want to start a business of your own like Steve Jobs and Ramdev Baba. But Personal Branding is a very small piece of a larger pie calling Marketing.
Only if your Fundamentals of Marketing are in place then the probability of producing a perfect Personal Brand is more. My Digital Mentor has this beautiful term called MassTrust. If you can create MassTrust you can create MassTranscations. With MassTranscations multi-trillion-dollar businesses can be created. So if you want to develop a Personal Brand now you have a blueprint to follow.
Learn first in your domain of passion, work on those leanings and execute the learning to the T. Blog and if possible brag (in a positive way) about the success you got in your work. Once you can achieve reasonable success, Consult fellow dreamers/hustlers to achieve their dreams. Be a mentor to them. In the process give your 100% effort to start your venture. In short, LEARN, WORK, BLOG, CONSULT, MENTOR, STARTUP – REPEAT.
Beyond the MassTrust Blueprint, one must put an effort to understand the Science of Marketing. Because Great Marketing starts with questioning the status quo.
Why Understanding the Fundamentals of Marketing will Make you Question Everything.
Marketers are the rock stars of the business world. Yes, creativity, advertising, executing marketing campaigns are all part of marketing. But, it is not just about creativity. Marketing is based on science.
Marketing is a beautiful mix of sciences like Psychology, Statistics, Economics, more recently Behavioral Economics, the study of or at least the basic understanding of arts and music to create an impact. All this leads to creating a good marketer.
Many think That once you have the product all you have to do is run some ads and start selling. And that’s where real marketing comes into the picture. Marketing starts even before the 4P’s are thought of. What are the 4P’s?
Product, Price, Place, Promotion.
The function of an effective Marketer Begins even before the idea of a product is conceived. In-depth study of what the market requires and then designing the product. Is also a part of marketing.
Any founder must understand the concepts of marketing. Steve Jobs has been able to create the most valuable brand of all time only because he understood marketing better.
Before the product the thought of how to Market it was conceived by Steve Jobs. Steve Jobs questioned the status quo. When the world made mobile devices with keypads on them. He created a market where none existed.
And he communicated that message in the most beautiful way possible. It is never just about selling a product in marketing. Marketing is about telling Beautiful Stories. So that people are ready to exchange their wallets with your product. Their wallet for the story which you are selling.
The overarching purpose of any marketing and branding exercise is to help you build a Brand Or a Personal Brand. So that you are able to capture a particular position in the minds of the customer. When creating a story or a narrative for a particular brand, it is the duty of the marketing team to create a great perception of the product.
There are many aspects of Marketing. Advertising, Copy-writing, Sales, Budgeting, Creating a Marketing Strategy, Market research.
I use the example of Apple here again because it’s very easy to understand. It was because of the Marketing Genius of Steve Jobs, he was able to create a great product. But creating a great perception of the product is equally important. So overall if you start questioning everything, learning marketing is going to be a lifelong skill.
Increasingly these days there is a use of a lot of digital channels to do marketing. In the long run, there is always this debate between traditional marketing and digital marketing mediums.
Which marketing techniques should you use more? Should you rely on digital marketing or should you rely on traditional marketing mediums to fulfill your needs? The answer is Both, has pros and cons.
The Evolution of Demand Generation and Demand Fulfillment
Understanding the medium of communicating the message is the starting point of your journey towards an effective marketer.
The Medium is the Massage- Marshall Mcluhan
If you look at the way marketing has evolved from the early times of the Industrial Revolution to now. Marketing can be divided into broadly Five Era’s error a
- The Production Era.
- The Sales Era.
- The Marketing Era.
- The Societal Marketing Era.
- The Customer Relationships Era.
But in every era, the change in the messaging mediums had lead to the evolution of supply and demand. It was always about the message which was being communicated via the mediums that differentiate between traditional marketing and digital marketing.
So in terms of understanding traditional and digital marketing following is the list of marketing mediums.
Traditional Marketing Mediums.
- Direct Mail.
Digital Marketing Mediums.
- Search Engine Marketing.
- Pay Per Click Marketing.
- Email Marketing.
- Social Media Marketing.
- Mobile Marketing.
If you have created a new product or service, people do not know what the product or service is. Then you have to do demand generation. More or less traditional marketing mediums where a message is broadcast to a wide set of audience is more likely to Generate Demand. Say, for example, nobody knew about the iPhone or the existence of an iPhone. So how will somebody search for iPhone on Google?
Any digital medium will help you fulfill the demand very beautifully but to generate demand we will have to rely on traditional mediums.
Let’s take the same example of a generic product having a very wide range of targeting. TV ads, Radio ads, Billboards, or Out of Home Hoardings will reach millions of audience at a comparatively lower cost.
What happens when you want to fulfill that demand? Digital marketing is the best medium for demand fulfillment. To reach the affluent English-speaking population in India, with spending capacity Digital Marketing is the go-to place. So if an educated audience wants to buy something. The demand fulfillment will happen via the digital medium. There are always pros and cons to both the medium.
To somewhere overcome the limitations of not being able to connect with the audience direct response marketing evolved.
- A newspaper ad with the phone call number which connects you directly to the sales team?
- A direct link to the product you want to sell
Direct response marketing resulted from the sheer need to be able to measure marketing. Advertising agencies and big companies which are doing huge branding campaigns were not able to measure the increase in Brand Awareness.
An increase in brand awareness is not a very measurable metric. On the other hand, Direct Response Marketing will give you a measurable Return on Investment as a base metric.
Today in an increasingly over-connected world. Your target audience has an ever-decreasing attention span. You have to make an additional effort to market your message. Thus deliver your message via Multiple Mediums.
Why Integrated Digital Marketing is the Secret ingredient?
At the heart of this messaging is the Content You Create. Content that creates CONVERSATIONS. If your medium of choice is digital, even if your conversation with the customer begins via a traditional medium where the message is broad and overarching. Ultimately, your audience will come to a Digital Medium to have validation for the product or service which he wants to buy.
If your digital marketing medium is not centered on content and it is not integrated beautifully with the various other aspects of digital marketing like paid advertising email marketing social media and search engine optimization. Then you will fail to convey the message to your customer.
Eventually, if you are spending so much time, energy, and effort in learning in executing marketing and marketing campaigns. You will eventually create something called a funnel for closures.
If you are now thinking What is a Funnel and How to harness its power via the content you create?. Read on, we are just getting started.
Where The Marketing Funnel is Headed in the Next Five Years?
It is beyond doubt whosoever comes in contact with your message you want them to do certain “transactions”? You may want your customers to buy something, sign up or fill out a form. Ultimately when your customer does something you want them to do it is known as a transaction.
A Marketing Funnel is a set of steps that your audience needs to go through. Before they reach the transaction stage. As a part of a Digital Marketing Internship, I did with Digital Deepak as I mentioned earlier also. Digital Deepak introduced me to the CATT funnel. This is the framework which you should keep in mind if wealth creation and building your empire is your goal.
Wealth Creation = n ^ CATT
n = Niche:=> If you want to succeed and create wealth it all depends on the way let your niche. What is your niche? How to select your niece Is a topic of discussion for some other day?
C = Content:=> Creating useful content that connects with your customer, which is helpful to your customer will attract more people to your platform. You can continue to create content like a blog post, videos, live webinars, and even physical events to help your customers in a meaningful way.
A = Attention:=> The content you create, should be back by digital marketing tactics like Search Engine Optimization, Social Media, Paid Ads et. All of this effort will drive attention or bring traffic to you.
T = Trust:=> To build trust with your audience, consistent high-quality content must be delivered. You can use Marketing Automation and re-targeting strategies. Building trust is a game of consistency.
T = Transaction:=> Finally for the transaction you need to convert your now nurtured leads into paying customers using natural sales methods.
The above process which I explained effectively utilizes the resources which are available to you as a person to create a personal brand and potentially create an empire that will create wealth for you in the long run. Great Content Creation was, is, and always be the most effective way for branding lead generation and creating a marketing funnel.
When I look through the “Content Creation” lens at the way Steve Jobs or Ramdev Baba created their respective empires. It was because of the content they created and the fan following like funnel which automatically translated into SALES. In Steve Jobs’s case, it could be those epic product launch presentations which he gave. For Ramdev Baba, it can be the TV Channels where he gave his yoga sessions. Essentially, they are pieces of content.
So in conclusion harness the power of content. More power to you to create your personal and do share your thoughts by leaving a comment.