Digital Marketing- Innovation in Traditional Marketing
If you are searching something at your nearby market and you may be unable to find it but you can definitely get it online. Today, the Internet is such a place where you can find everything you need to buy. The number of people using the internet is increasing day by day. According to reports, India will have nearly 700 million internet users by 2022 and the number may reach 974 million by 2025. The massive rise in the use of the internet has also brought the demand of the online market, now India has the 2nd largest online market in the world after China. Surprisingly, it has also changed the customer’s purchasing behaviour. Now customers have become very smart, many customers often prefer to visit online platforms like Flipkart, Amazon before going to physical shopping.
“Marketing” covers the various activities done by any company to promote the sale of its product or service through Advertising, Planning, Selling, Purchasing etc. The famous concept of marketing i.e. Marketing Mix covers the 4Ps that are Product, Prise, Place and Promotion. Although, all Ps are important as far marketing of any product or services is concerned, the right promotion strategy always facilitates a company to reach maximum audience in a short duration.
For better promotion of any product, a company has to promote the product where the maximum audience is occupied. And in today’s context, you need to meet your audience where they are already busy, definitely on the internet. This is what we call, Digital Marketing, the new age Marketing.
What is Digital Marketing ?
Digital Marketing means all promotional efforts that one company does to reach maximum audiences through electronic devices/ media on the internet. For that, companies use various digital channels like search engine optimization (SEO), social media, email marketing, e-commerce website etc. for the promotion of their products or services.
How Digital Marketing is Important for Business ?
In traditional marketing methods, one can reach a limited audience at a time. On the other hand, in Digital Marketing you have more probability to reach a larger audience in a short time who will be even more interested in buying your product or service. The promotional means of Digital Marketing are often more cost-effective than traditional marketing mediums. Additionally, it also enables you to measure the success of advertisements regularly that facilitates companies to change their strategy whenever they feel like.
What are the benefits of Digital marketing ?
As the market of online selling is increasing day by day the use of digital marketing has also increased simultaneously. One of the biggest benefits of Digital Marketing is that it makes promotion processes easy for companies. The other benefits are as
- Through digital marketing, you can plan your marketing strategy according to your customer set or audience. On the other side, you have less control over the audience in traditional marketing methods
- You can customize your marketing campaign according to a specific set of the audience or you can categorise the audience on various parameters like gander, age, occupation etc. In traditional marketing, you don't have that leverage to allow only a specific audience because whatever campaign you plan it will reach to whole audience
- In digital marketing, you have various tools and technologies like SEO, PPC etc. that can be used to bring more audience on your website who’ve shown interest in your product or similar product
- Through Digital Marketing, You are able to generate the real time data of your marketing campaign. You can use that data for analysis and refine your marketing strategy over time. It will also help to analyse the ROI on particular marketing assignment
- Many companies have multiple products or services for different customers. In that case, it is very difficult to design different marketing campaigns at the same time. In digital marketing, you have multiple options to plan your promotion campaigns at minimal cost. It also gives multiple options to customer for selection of best product
- Digital marketing helps you to track the promotional campaigns on a daily basis. In case, your marketing campaign is consuming a big amount with less ROI, you can decrease the amount of money you're spending on a particular promotional campaign. You can also launch new marketing strategy with lessor money
- The tools and techniques of digital marketing can be used according to the needs or capacity of a particular company. For instance, if it is a small comany you may plan your promotion campaign on social media. But if you are a big company, you can plan your promotion campaign on websites, blogs, youtube or other websites etc.
- In the age of competition it is very difficult for small companies to survive in the market with low budget promotional strategies. But through digital marketing one can plan large promotional campaigns even on a small budget
- In digital marketing, you can review the performance of your marketing campaign through likes, dislikes, views, shares, clicks etc. It gives you an idea about how people are reacting towards your campaign. This is one of the biggest benefits of digital marketing.
Important Terminology in Digital Marketing
There are various jargons, terminologies are being used in designing Digital Marketing Campaigns likewise
Website Traffic means the number of people visiting your website in a particular time. Digital Marketing enables you to see the exact number of people who have viewed your website's homepage in real time by using various software. You can also see the detailed history of various searches on your website. The application helps you to prioritize which marketing channels to spend more or less attention on based on the number of people lending to your website. Accordingly, you can change, upgrade or degrade SEO content of a website. Similar to traditional methods, it’s very difficult to assess the mind set of the audience for your product before purchasing it.
If you have developed some publication material for the promotion of your product and you want to distribute to all your possible audience through traditional methods. It will take months to reach all your audience. But on the other hand, in a digital marketing method you can reach hundreds of people in a very small time with your complete agenda. You can also calculate the number of people who have downloaded your publication and how many people are engaging with your content. It will also help you to generate the required leads for SEO.
Attribution Modelling gives you an detaited idea of interest of your audience or customers. It is an opportunity for companies to identify trends of particular search or interest of people. It helps you to make your marketing strategy more refined and what kind of changes it requires according to the needs of the customer. Attribute Marketing technique really help in transferring the important traffic to your website ultimately
Role of Digital Marketing for the Growth of Business
Every company needs profit and growth for sustained profit it needs to maintain its presence in the regular purchasing of customers. For that, every company makes a number of efforts to make a strong image in the marketing world. The traditional marketing strategy with print ads, telephonic communication is a slow process and requires a huge amount of investment. On the other hand, Digital Marketing through email, video, social media, websites, search engines have more possibility to reach maximum customers electronically. Therefore, digital marketing is a more viable solution for companies to get rid of traditional marketing ways. The various tools and techniques associated with digital marketing provide you different options to get creative and experiment with a variety of market tactics on a budget. The companies can also assess the performance of their marketing campaign in between the promotion of a product.
Common digital marketing tools and techniques
Search Engine Optimization (SEO)
SEO is the process through which your website comes on top whenever someone searches you on a search engine like Google. It also helps to increase the free traffic on your website. There are various channels that benefit SEO like websites content, blogs, info-graphics, posts etc. The traffic on websites can also be generated through advertisement on social media handles.
Content Marketing defines the written literature that is used for the promotion of your product or service by the company. It is promoted on digital platforms in forms of blogs, posts, stories, brochures, e-books, infographics etc.
Social Media Marketing
Various social media platforms like Facebook, Twitter, LinkedIn, Instagram etc. helps companies in promotion of their brand and content. It helps to increase the awareness of the audience regarding brand, product, services, and also to generate leads on websites.
Pay Per Click (PPC)
It is one of the most used tools by the e-commerce companies today. Whenever a customer clicks on a particular product or article, it brings the customer directly to the website. It helps in driving the traffic to your website. You have to pay for every time your ad is clicked by a customer or viewer to a service provider company. Some of the examples of PPC are Google Ads, Facebook ads, Twitter Ads, LinkedIn sponsored ads etc.
Some companies only promote products or services of other companies and get commission in lieu. This is called Affiliate Marketing and also known as Performance-based advertising. It's the easiest way to generate leads and make your solid presence on social media.
Email Marketing has become a common tool of Companies today. Companies use email marketing as a medium to be connected with their delighted customers or audiences. Email is also used to promote content, inform about the latest offer, discounts and events and bring people to the website.
It is a unique tool in which companies get promotion of their product through digital publications. Digital Publications like blogs, articles also help in generating revenue from content. It is more like selling companies' magazines on book stalls.
Sponsored Content/ Content of other Company
There are many companies that cannot afford the expanses of website development. So they provide their content to other websites for promotion of their product on their behalf. In some cases, many companies need a platform to make their presence so they do their content promotion on other websites.
Check out the Digital Marketing with Analytics Program @ Fingertips
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Ashpreet Kaur - Jul 2, 2021
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