How simple is it to earn 1 Crore rupees?
(Write your perspective in a paper about how simple it is to earn 1 Cr., before reading this article.)
In this article, I am going to talk about some tips to earn 1 Cr. We will talk about various techniques and skills required to earn it. This article is useful for Students, freelancers, employers, businessmen, entrepreneurs ,and mentors.
So let’s begin with our Tip no. 1:
- This is a basic tip but valuable. If you want to remember something better, learn it and teach it.
- In our firm digigroww we connect with you not only by heart but also with knowledge.
- When we learn something we should apply it and teach it to others, others can be anyone, they might be your family, friends, relatives ,etc.
- This will help us to organize our thoughts and force us to understand the concept from the root or base.
- So collect all information, apply it and teach it.
- We can also create a community where we can practice this tip.
- In digigroww we learn, we apply and we teach our secretes
2. Set a goal
- Set a financial goal and create a plan to achieve it.
- It’s a crucial thing to have a clear goal or vision
- Disintegrate the goal into various baby steps.
- “If you don’t know where you are going, you will probably end up somewhere else.” –Lawrence J. Peter
- The above figure shows how to make 1 Cr. If we have a product of 100 Rs. if we sell this product to 1,00,000 customers we can get 1,00,00,000 Rs. The Same applies to other charts. It’s our choice which niche we have to select.
- If we acquire 1,00,000 customers to buy our product at 100 Rs, from this 1,00,000 customers we can get 10,000 customers who will buy our product at 1000 Rs. and from this 10,000 customers, we can get 1000 customers who will buy our product at the price of 10000 Rs.
3. Law of Marketing:
- The first thing to understand is marketing is based on science, not on creativity.
- Marketing starts before creating the product.
- Marketing has a long shelf life because it is rooted in human psychology.
- It is the most valuable investment in a business as it gives a direct return.
- Create a product or strategy by understanding marketing.
- If we create a product as per the needs of the customer, it will be sold automatically.
- Send the right message to the right person at the right time.
- If we know how to get traffic, sell and market we can run the business safely.
- Work on customer’s positive why?
- Build trust with customers so they will be our customers for life.
- Imagine if we stop building trust with our customers we will not get 10000 customers who can buy our product at 1000 Rs.(Refer chart of tip 2)
- Marketing is not just selling. It is also about keeping an existing customer happy by communicating with them.
- Focus on quality of product
- If we have a product which is as per consumer’s need and has a good quality, our customers will become brand ambassadors and will sell our products.
- This will lead you to create a brand name then you don’t need to do marketing
- For Ex:- What comes to mind when you hear about search engines?
- “The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.”- Peter Drucker.
4. Building a strong brand.
- Building a strong brand is crucial to reach our goals.
- To build a brand we have to choose a category, work hard, and be a leader of that category.
- For Ex:- Google, Xerox and, zoom are the brands that have become verbs.
- If we cannot be a leader in a category be a leader in a sub-category
- For Ex:- if we say smartphones there are various categories of smartphones but when we say exclusive, luxurious, and executive smartphone the only name that stood up is Apple.
- We can also position a personal brand or face of a company.
- People want to hear from people, not from brands.
- Like Elon musk is a face or personal brand of SpaceX and Tesla, he has more followers than both spaceX and tesla.
- This results in a reduction of the cost of marketing as people will easily remember it.
5. Communication Skills:
- If we want to market or promote our product effectively, we must have good communication skills.
- If we have a good product, it will only be successfully marketed if we communicate with our customers effectively.
- There are many wrong perspectives about good communication like we have to speak in English with sophisticated words and we must require a British accent to communicate.
- Good communication doesn’t care about language, vocabulary or accent.
- It is a matter of transferring our thoughts to anyone/customer successfully or productively.
- To improve communication skills, write a lot and language doesn’t matter, we can write in any language.
- Try to connect with people’s thinking.
- We can watch movies, series, etc.
- We can listen to songs, read books, and write as we talk.
6. Global Economics & Marketing
- We are going to earn 1 Cr Rs. so we have to be aware of global economics, this helps us to make better business decisions.
- If the average age of a country is 28, it’s economy is likely to grow.
- Let’s understand with an example, let’s assume INDIA is a person whose age is 28 and Japan is another person whose age is 55, so at the age of 28 till the age of 55 INDIA will buy more than japan at the moment.
- INDIA who is 28 and doing a job, earning money, has more needs than japan at this point because japan started fulfilling his need since he was 28 and now he is 55 so japan will spend less compared to INDIA at this time.
- This means a country’s economy goes up as the average age of the country goes up.
- The next point in an economy to understand is Debt creates money.
- Let’s say, if we go to a bank to take a loan of 1 Crore rupees and we get the loan, this means that the flow of money will increase in the market which leads to inflation.
- So to control inflation, the central bank increases the interest rates on loans so that the number of loan applications will be reduced.
- This leads to the stoppage of liquidity in the market at this time inflation rate will be constant, but the people who have taken loans from the bank before they start repaying their debt which leads to the removal of cash from the market and the money supply shrinks which leads to contraction.
- So again to overcome this contraction, the central bank reduces the interest rate, so more and more people apply for loans and again the cycle continues.
- The same scenario with export, if the value of the dollar increases, people are likely to export their products for a better price.
7. Digital Marketing:
- Digital Marketing is the easiest and fastest way to achieve our goal.
- It will be at a boom in the next 2–3 years.
- We can reach our exact target audience around the globe and at a low cost.
- Digital Marketing is trackable with measurable results.
- It makes things easier to establish how effective our campaign has been.
- If our customer database is linked to our website, then whenever someone visits the site, we can greet them with targeted offers. The more they buy from us, the more we can refine our customer profile and market effectively to them.
- By getting involved with social media and managing it carefully, we can build customer loyalty and create a reputation for being easy to engage with.
- Digital marketing lets us create engaging campaigns using content marketing tactics. This content (images, videos, articles) can gain social currency — being passed from user to user and becoming viral.
- If we have a website, then our customers are only ever a few clicks away from making a purchase. Unlike other media which require people to get up and make a phone call, or go to a shop, digital marketing can be seamless and immediate.
8. Direct response marketing
- “Direct response is a type of marketing designed to elicit an instant response by encouraging prospects to take a specific action.”- MarketingEvolution.com
- We know that when we go for traditional marketing, we do not know that ads work or not.
- Even big marketing companies do not give us specific and measurable results, they just say that brand awareness has increased but it is not measurable.
- In a nutshell, it’s a type of marketing that requires an immediate response with the primary goal of getting a return on our investment as soon as possible.
- Direct response marketing is fueled by data, making the campaigns more targeted. The result is higher conversion rates.
- An ad leading to a landing page with a lead form is one of the examples of direct response marketing.
9. CATT Funnel.
- CATT funnel is valuable to achieve our goal of 1 crore rupees.
- If we have a marketing strategy we should have a funnel that helps us convert leads into customers by grabbing their attention to our content.
- The formula to create wealth using the CATT funnel is given below:-
- Wealth= n^CATT
- Here, n stands for Niche: Our success in achieving our goal depends upon selecting the right niche.
- From the above figure, for selecting a niche three factors Talent, market and passion are required.
- Talent helps us to improve our performance, Passion leads us to overall satisfaction. As a result, we should continue to work for a longer time. The market is a crucial parameter among all three. If we have talent and passion but there is no one to buy, we will not be able to achieve our goal.
- C stands for Content: We have to create content with regards to the niche we have selected.
- The creation of attractive content generates leads that can be further converted into our customers
- Content includes blogs, social media posts, videos, webinars etc.
- A stands for Attention: After creating content for our niche we have to grab their attention.
- Attention is grabbed using SEO, Social media, Paid Ads, Affiliation, and referrals.
- T stands for Trust: Building trust with customers will play a vital role.
- Trust helps us to generate repetitive sales of our product.
- We can build trust with tripwires, marketing automation, and retargeting.
- T stands for Transaction: This is the step where we get results.
- After building trust with the customers we can offer them our premium product or we can show them our next product.
- Since we have built the trust it will be easier to generate sales.
10. Integrated digital marketing.
- Integrated digital marketing is the integration of several marketing strategies to convert leads into customers.
- This technique works as an engine that is used to run a CATT funnel.
- The above figure shows the integration of several marketing strategies like Paid Advertising, Email marketing, Content marketing, SEO, Social media which helps us to sell our product.
- The benefit of this technique is that, while each strategy doesn’t have a huge impact on its own to the customers when they are integrated as one marketing strategy, we can see higher results.
In this article we have discussed 10 techniques or tips to earn 1 crore rupees which includes Learn, do and teach, set a goal, Law of marketing, building a strong brand, communication skill, Global economics & marketing, digital marketing, direct response marketing, CATT funnel, Integrated digital marketing.
By applying this technique we can earn 1 crore rupees.
In digigroww we apply above and more techniques to make your business professionally digital, we will be fulfilling your requirements and helps you to market your business to your targeted audience.
Contact us now