Feb, 2021 - By CMI
‘Digital is the backbone of everything in marketing today - from 'physical marketing' to ‘advanced marketing’. With nearly 100% increase in online sales in India, businesses and entrepreneurs are now realizing that this change may be faster and longer lasting than they thought.
Digital marketing include all marketing efforts using an electronic or internet channel. Businesses use digital channels such as search engines, email, social media, and other websites to communicate with current and future customers. Using these online media channels such as Facebook, twitter, and others, digital marketing is the way for companies to support their products, goods and services. Nowadays consumers rely on Google to know any details about product digitally. For instance, according to the Google's marketing data, about 48% of consumers start searching for search engines, while 33% search for brand websites, and 26% search about products details within mobile applications.
While today's digital marketing is a large system of advertising channels for which retailers have to show their products, online advertising is much more complex. To achieve the real power of digital marketing, marketers need to break into today’s sophisticated world to find strategies that offer consistent marketing. Engagement marketing is a way to build a proper interactions with potential and returning customers based on the product information they collect over time. By engaging customers in a digital look, company create product awareness, advertising, and put their business first where the customer is ready to buy.
Forbes also predicts that social media will grow the conversion in the B2B space, video content will be targeted to search engine optimization (SEO), and email marketing will be personalized.
· Role of Digital Marketing
While traditional marketing is present in printed ads, telecommunications, or physical marketing, digital marketing can be possible electronically and online, which indicates that there are many product opportunities which can be reach to the customers through email, video, social media, and search engines.
Currently, digital marketing is important in raising awareness about any business and products. Digital content and marketing are so common that consumers nowadays rely on it as a way to learn about products, as digital marketing has various options and strategies. With digital marketing, company can also use tools such as analytics dashboards to monitor the success and ROI (Return of Investment) of their campaigns.
· Types of Digital Marketing
Ø Search Engine Optimization (SEO)
Ø Content Marketing
Ø Social Media Marketing
Ø Pay Per Click (PPC)
Ø Affiliate Marketing
Ø Native Advertising
Ø Marketing Automation
Ø Email Marketing
Ø Online PR
Ø Inbound Marketing
Ø Sponsored Content
· Benefits of Digital Marketing
Digital marketing helps company to reach a larger audience than company would like in traditional ways, and identify potential prospects for their product or service. In addition, it is often more expensive than traditional advertising, and it allows company to rate daily success with a pivot as company see fit.
There are few benefits of digital marketing that include:
1. Company can only direct opportunities to buy their product or service.
When company place an ad on a TV, magazine, or billboard, company have limited control over who sees the ad. Moreover, company can measure a certain number of people - including a regular magazine reader or a newspaper reader.
Digital marketing, on the other hand, allows company to target and target specific audiences, and then send those personalized audiences, high conversion messages.
Ultimately, digital marketing enables company to do the research needed to identify their customer, and allows company to improve their marketing strategy over time to ensure company meet potential buying prospects. Additionally, digital marketing helps company market to smaller groups within their larger target audience.
2. More expensive than traditional marketing methods.
Digital Marketing allows company to track daily campaigns and reduce the amount of money company spend on a particular channel if it does not show a high ROI.
Also, with digital marketing, company have complete control over where company choose to spend their money. Maybe instead of paying for PPC campaigns, company choose to spend money on software building to create the most transformative Instagram content. Generally, digital marketing is a cost-effective solution.
3. Digital Marketing allows company to surpass the biggest players in their industry.
If company work for a small business, it may be difficult for company to compete with the biggest brands in their industry, many of which have millions of dollars to invest in television commercials or national campaigns. Fortunately, there are many opportunities to outperform major players with digital marketing programs.
Additionally, social media enables company to reach new audiences through influential advertising. For this reason, any company can reach to a large number of consumers and expand their business as well.
4. Digital Marketing Measurement.
Digital marketing provides company a complete overview of all the important metrics in their company- including impressions, stocks, views, clicks, and time on the page. This is one of the biggest benefits of digital marketing.
Unlike many offline marketing efforts, digital marketing allows marketers to see accurate results in real time. If company have ever placed an ad in a newspaper, company will know how difficult it is to estimate how many people have searched that page and paid attention to their ad. There is no surefire way to know if that ad was targeted at any sale.
On the other hand, with digital marketing, company can measure the ROI of any aspect of their marketing efforts.
· Trends in Digital Marketing
Throughout human history, little has been known about the economic consequences of this epidemic.
The COVID-19 outbreak has a profound effect on the world and is considered to be long lasting. Never before in human history have people been more aware of the economic consequences than of this disease. But while the global economy has had a negative impact, many businesses have shut down while many more are digitizing their business in terms of value.
The future is now, and digital. The foundation in the 'new normal' playing field while identifying demand, growth, and new business models should focus on the growth and development of digital skills. As the change in consumer shopping behavior has shifted to online mode, a nearly 100 percent increase in online sales in India has made leaders, and entrepreneurs see this change as alarming and long-lasting!
· The height of the digital planet
The future is now, and digital. Increasing number of people prefer to buy everyday necessities and luxury items online. From food to laundry and clothing to washing machines, the need for physical visits to the shop will continue to disappear. Also, as consumer behavior changes, so do traditional sales styles. With that in mind, here are some of the ways in which one can expect to see digital marketing.
1. The most integrated approach Digital marketing cannot work in isolation
Experts suggest an increase in integrated marketing where brands are aware of changing needs and consumer behavior.
When it comes to the digital market, such styles are outdated. The consumer in this case may not even know the product while opening the internet. Carefully placed ads on social media or related searches on commercial sites are used to arouse their interest. Online reviews and specifications are some of the key factors that drive customer interest and final purchases. In this case, following a traditional product model that starts with consistent behavior for consumers would be a bad idea. Therefore, the demand for new tools and styles of digital marketing is increasing.
2. Focus on ROI
This massive market shift caused by the influx of online consumers could clearly mean that brands will have to increase their investment in building their presence and marketing their products online. All highly productive tools in Return on Investment (ROI) and digital channels, including SEO, program advertising, and chat marketing, will witness significant increase in investment during and after COVID-19.
3. Digital Marketing as a Career
The demand of the current situation have led market researchers and economists to comment on how the procurement process could change the stadium as stores and restaurants turn to information and entertainment. In 2017, a study found that the demand for digital retailers was 56 percent. On the other hand, those who could meet the needs and demands of the market were only 24 percent. By this time next year, the need for digital entrepreneurs will have tripled. This will no doubt lead to the creation of a new widely used digital marketing platform. Many entrepreneurs will see an opportunity in the changing needs of the digital market and move to take it as a career.
4. Most of the work is exported to India
A large part of this rapidly changing market is likely to move to India soon. As Indian entrepreneurs demonstrate expertise in good digital use and the country is full of untapped talent, the display of affordable digital skills here is inevitable. Indian entrepreneurs and digital retailers are likely to see an influx of applications from products around the world as they embark on their journey to the real world. It is a moment of reckoning, digital retailers and developers in India are ready to embrace it.
5. Small and medium company products are merging together
As products are changing digitally in the future, many businesses will need to consider communication where they can interact with other company products. This will lead to many benefits, especially for small and medium enterprises who are facing major problems due to Covid-19. If company work together and share costs, more money can be invested in market. Building a larger business can also mean being able to reach more consumers with special needs, a small or medium product that company can meet on their own. The consumer is better off going back to an online store that sells everything from pin to cupboard even if it comes from different brands, because it means not visiting the smallest websites in every need.
Digital marketing research and development is advancing with the advancement of technology. Advances in technology increase many opportunities and at the same time bring challenges that advertisers have never encountered. Marketers use the Digital Portfolio as a platform to promote the brand name by defining the product in a way that adds credibility. Research highlights that B2B consumers do not like cold emails and calls, therefore, Digital marketing allows more flexibility in finding the right people with their compatible search engine. These days, consumers are expecting information that provides a solution to problems related to their product. The strong visibility of an organization or product through digital marketing allows consumers to develop visual information about the product. The proliferation of word of mouth and getting recommendations on their communication helps users make informed purchasing decisions.