As a batch 3 internship member, I had our first class. These are the following things I learned:-
1. Finding your goal.
Your main goal is to improve your communication and sales skills. Having these skills will help you sell better and improve your product.
And also have one side goal. For eg – Blogger, video maker, affiliate marketer, agency owner, grow your business, start a movement, or get a job.
My goal is to improve my brand image by producing great content. Then it will help me get more clients in eCommerce or get a high paying job and make more money.
2. Few words about the economy.
The market needs always expand because the new solution gives rise to new problems.
So, there are many niches available to choose from.
When the average age in a country is between 25-50 years, many start spending money, get jobs, make family, etc. So, average spending in the economy increases, and the economy develops.
But if the average age in a country goes above 50 years, household spending goes down and the economy goes into recession.
Therefore, we will have 100 billionaires from southeast Asian countries, and china where the average age is between 25-50 years.
And therefore, Japan is slowly going under recession as their average age is 48 years.
Debt creates money. Because when someone takes a loan from a bank, they deposit in another bank. So, the cash circulation goes up, and then the economy goes up.
The economy goes down when people start repaying their debt. Because cash circulation starts shrinking. So, the recession with deflation happens.
Never worry about recession as long as you can give value.
Big companies survive and small companies fail in recession.
Read books like economics 101, Currency war, Raghuram Rajan, Paul Krugman, and Adam Smith – the wealth of nation, to understand economics.
3. Few awesome things I learned from economics 101 after reading 25% of the book.
Economic theory assumes that “nothing else changes”, and people are inherently rational and selfish. True altruism doesn’t exist.
Everything you do has an opportunity cost and comparative advantage.
And this is the best one.
The currency like the US Dollar, Indian Rupees, Japanese Yen, etc., are all inconvertible fiat.
This means that we use them as money because our government SAYS so and we all AGREE on it. So, our money circulation is dependent on a FAITH of value that a single piece of paper holds. MIND-BLOWN!
That’s why we have institutions like RBI to control the printing and flow of money. Otherwise, if we overprint our money, the currency loses its value.
For eg – When countries like Zimbabwe overprinted their money, their inflation sky-rocketed.
So, don’t get too attached to the money. It’s just a single piece of paper dependant on faith. Focus on providing long-lasting value. The money will flow accordingly.
4. Communication skill is important.
It helps in content creation, sales, and becoming a successful professional or entrepreneur.
There are ways you can improve your communication skills.
Start with reading 30 minutes a day.
For eg- During my 11th and 12th standards, I used to read English newspapers daily, which I got from school. And while reading it, I used to search every difficult word in the dictionary. And that’s how I improve my English.
Then start thinking everything in English (yes, everything).
Listen to an English podcast, 30 minutes a day. Check “Google Podcasts”.
Write a lot. The more you write the better you get. Aim for at least 500 words a day.
Watch English sitcoms like breaking bad, Friends, office, big bang, etc.
You will learn about their culture and local slang. This will help you talk to people and make more meaningful connections.
5. About digital marketing.
Digital marketing will never die because marketing will never die
As needs and the products go up, we will always need better ways to market them.
The world is moving towards digital. Consumer behavior is changing.
Digital marketing is nothing but marketing with added technology. It’s just a better way of doing marketing.
You start by building some content, which attracts some people to form a tribe.
Then you do SEO to get some traffic.
Then you do social media marketing to engage with your tribe.
Then you use email marketing to nurture your leads.
And then finally you do PAID ads to amplify every step.
6. Selecting your niche.
Your niche is a combination of your passion, talent, and market opportunity.
Have passion, enjoy doing it, get better at it, and enjoy doing it even more.
The 3 major niches are health, wealth, and relationship (+fashion).
In the end, your goal is to get 1,000 customers, who will pay 10,000 rupees, to earn you 1 crore rupees.
7. Finding market demand.
You can gauge the market demand by typing your keyword in Google auto-suggest or answerthepuble.com.
You can also read amazon review or google my business reviews to know your customer pain points.
Read comments on famous blogs related to your niche.
You can even search conference or online course on your favorite niche. Having an online course or conference would means that people are ready to pay to learn about that niche.
You can select your niche in Pre/post products/services also.
For eg- For getting a girlfriend – what would someone need to do before getting a girlfriend (PRE).
Or what would someone need to do to keep the relationship strong (POST)?
You can also scratch your own itch. Do this by identifying your needs. Then confirm whether other people also have that need or not.
Or talk to customers by going directly into the market.
8. Build a personal brand.
The best known will always beat the best.
Do not have the fear of standing out or putting content out. Stop trying to fit in.
Show your character and personality on social media freely.
Publish in different forms. Eg – video, audio, blog post, images, etc.
As you produce more content, you get to own more of the internet.
Then more people will get to know you.
And in the end, you get more potential customers or clients.
9. Benefits of a personal brand.
You get your own style and tribe.
People always want to hear from people not from brands. And the personal brand is a perfect solution for that.
You can get a job, close a client, or build your own consulting/training business.
It’s cool to be known by other people.
Build your own fame within a community.
So, write, publish videos, do public speaking,etc., to do personal branding.
10. Marketing funnel- the most basic thing you need to sell effectively.
Move the free line. Start with giving free content then charge a little bit for paid content.
Build trust through the funnel while making it automated.
Even build relationships on automation.
Get 1,000,000 people at the top of the funnel to get your 1,000 leads at the bottom of the funnel.
And achieve your goal of earning 1 crore rupees.
Build a brand ambassador by over-delivering. (like Digital Deepak’s first batch of interns are his brand ambassador).
Example of a basic funnel:-
When a visitor visits your website and bounced back without buying anything, the visitor enters your funnel. This is the AWARENESS stage because your visitor gets some awareness about your product.
You then use Facebook Pixel or Google analytics to tag the visitor and show them relevant ads everywhere. This is based on what product they visited on your website.
This is the DESIRE stage of the funnel because you are trying to get purchase desire from your visitor.
In the end, if the visitor buys from you by clicking on any of the ads, then it’s the ACTION stage of the funnel. Because the visitor has taken your desired action.
You can see this in action while visiting amazon.in. When you visit a particular product page in Amazon, you might see the ad of that product.
This happens on every subsequent website you will visit. They even show ads on all your favorite mobile apps too. Because they are trying to get purchase desire from you.
Now, of course, you can make the funnel more complex by adding more stages. Usually, you use social media posts to do that.
In the end, your aim is to build more trust by showing them relevant content, your potential customer desires.
In the post COVID world, skepticism will be an all-time high.
So, great marketers around the world are changing their marketing strategies to nurture their leads. They are doing this by giving them high-quality education-based content for free. This will help build more trust in their potential customer to buy.
For eg – Hubspot, a well-known marketing software, did a webinar on “Marketing in post-COVID” to give tips on postCovid marketing.
This will help marketers from all around the world to build more trust in Hubspot. And ultimately, a few markets might try the Hubspot software.
Conclusion.
In the first class, I learned a lot. I am excited to learn more in subsequent classes.
Thank you Digital Deepak for organizing this.
