Digital marketing is basically a set of strategies used in promotion of brands, products, and services through one or more forms of electronic media. This brand new marketing concept is significantly different from conventional marketing as the marketers have a better grip on the process by analyzing campaigns closely to identify which works and which doesn’t.
Digital marketers analyze the measures of what are being viewed, how often and how long it is viewed, conversions through each campaign, relevance of content based on consumer responses etc. When digital marketing is mentioned, internet is the single biggest platform. However, there are few allied avenues also as mobile instant messaging, wireless text messaging, podcasting, mobile apps, electronic billboards, digital TV etc.
Importance of digital marketing at the current time
Unlike the conventional media channels, digital media is very pervasive as the users have access to any information they seek for any time, at any place without any restriction. Gone are those days when the marketing messages reached to people only from you and only consisting contents you wanted them to know.
So, consumers no more make decisions based on what you have to say about your product or services, but rather what the media, friends, peers, relatives, and general public tell them about it. People want brands which they can trust, and products based on their exact requirement. Personalized communications is what they need to take a decision.
Major reasons why a digital marketing strategy is needed:
You are directionless without it
In this highly competitive online market scenario, we can say that companies without a digital marketing strategy don’t have any strategic goals. Digital marketing has a very far and wide outreach than conventional marketing to reap more benefits.
Your competitors or even start-ups may gain more market share
If you are not devoted to digital marketing by allocating enough resources and having a well-tailored strategy, it is easy for your competitors or even the newcomers to eat out your prospects.
You will not have a solid online value proposition
Adequate online customer value proposition can make your products/services stand out by encouraging the existing customers and helping to bring new customers. It can also make your customers stay loyal to you.
You become disintegrated
Digital marketing is one such channel that now integrates all your traditional marketing and media promotional efforts. So, without having a grip on this thread, you may easily get disintegrated in your marketing efforts and lose control.
Digital is far economical
You can easily manage digital marketing when compared to the cost, time, and effort you have to spend for traditional marketing and promotions. What is required more in digital marketing are expertise and strategies to use the right avenue at the right time.
It has global reach
Unlike traditional marketing channels, digital marketing becomes essential if you are planning to expand your business beyond the geographical boundaries.
All in all, digital marketing is now acting as the backbone of all the marketing efforts you may take to promote your brand, products, and services.
How to go about digital marketing?
This is no simple deal. Digital marketing success requires expert planning and perfect execution. There is no gimmick to give you instant benefits, but a persistent and quality approach to digital marketing will surely yield you the desired results overtime.
So, don’t fall pray to the ‘too good to be true’ offers put forth by some digital marketing consultants who claim to show wonders overnight. Here are some realistic tips on how to go about digital marketing:
Know exactly what you want
No one else than yourself as a businessman knows what is best for you to do in terms of promoting your products and services. While thinking of digital marketing, the first thing you need to do is to nail your mission by defining the objectives and marketing goals clearly. A digital marketing strategy should fit perfectly into this plan.
Analyze your past and learn from mistakes
Planning for digital marketing should not be done blindly. Analyze your past strategies to identify what went wrong, and focus on setting the best possible KPIs for your line of business. Choose the valuation period in the past as the same as the duration you set for your new digital strategy to have a realistic evaluation. There are many such analytical tools available online to do this effectively.
Define your target group and speak their language
Don’t let the strategies go out of track for the target people you try to reach. Once you define your target audience, you can put them as the heart of your strategy and cater not just to their language and behavior, but to even their emotions to devise your digital marketing campaigns accordingly.
Identify your means
The three basic components to rightly identify your means are:
Your digital marketing channels
The team (your people)
So, take a stock at the first point itself to identify your resources in hand to decide what you might do while into action.
Create a digital marketing calendar
It is important to keep a track of your digital timeline to ensure its degree of success or failure. Prepare a digital marketing calendar with specified milestones and share it with your team members.
Review the strategy and incorporate changes if needed
You can prepare a monitoring plan fitting to your KPIs and do a review analysis from time to time. You should check the success rate of each element during these review meetings. If something is not found to be working, revisit the strategy in terms of budget and resources or incorporate a new element as a corrective measure.
Above all these, the new-age digital marketers face more challenges in terms of proliferation of digital channels and intensified competition. The key to success here is to well manage the complex customer relationships across a variety of prospective channels by keeping a fine balance between digital and traditional marketing efforts.