A DEEP OVERVIEW OF DIGITAL MARKETING- BOON OR BANE, TYPES, STRATEGY!
The world has now turned into one that is active digitally, and everything around us evolves to work in a digitalized manner. From paying at various places digitally to making relationships and bonds as well, everything has turned into the marketing of digital world.
Let us discuss this new digitalized world and whether it is a blessing or a curse.
WHAT IS DIGITAL MARKETING?
Digital marketing, in simple words, is known as online marketing. It can be defined as the new step that any business has taken to establish and portray themselves in front of their customers through online platforms. Virtual marketing means the art of selling and portraying products to their prospect buyers through various online platforms such as email, videos, affiliation, email, and so on. Traditional formulas for running businesses, when combined with the new and advanced Online formulas, can do wonders and help the business grow and prosper.
Online marketing has now turned into an important part of any business as it is a vital component of brand and product awareness. Almost every brand has either a website or some other kind of Virtal presence. Digital marketing is now a new mode for consumers to learn about and explore brands and businesses.
WHO IS THE FATHER OF DIGITAL MARKETING?
Philip Kotler, an American professor is referred to as the father of digital marketing. He founded marketing and all its other branches as a subject of discipline to be taught to learners. He has published over 60+ books on the topic of marketing. In the decade of 1990s, the term Online marketing was first coined with the introduction of Internet and web platforms. He made sure to broaden the field of marketing in a manner that it does not remain limited for the commercial purpose only but can be used by everyone for their betterment and up-liftmen.
TYPES OF DIGITAL MARKETING:-
Digital marketing can be defined by numerous virtual tactics and channels. There are various modes and channels through which the entrepreneurs connect with their purchasers. A few of these channels are discussed below: –
- WEBSITE MARKETING: This kind of marketing is the most commonly used tactic for any business that has taken a step into the world of internet marketing. Companies and businesses tend to launch and create a website for their business that can make the shopping experience extremely wonderful for the customers. Another advantage of having a website simultaneously with the launch of the business is that there are zero or 0.01 percent chances of fraud taking place.
- SEARCH ENGINE OPTIMISATION (SEO): In order to optimise the rank of any individual website, SEO is the process of optimisation, thus resulting in the increment of organic traffic. There are generally three types of SEO, namely:
- On-page SEO
- Off-page SEO
- Technical SEO
- EMAIL MARKETING: Email marketing refers to the process of communicating with customers via email. The main agenda of this process is the promotion of the business or any events that are going to take place in the near future.
- SMS MARKETING: Businesses and organisations might choose the age-old method of sending SMS to the public to spread the word of any new business ventures taking place and so on.
- VIDEO MARKETING: Attributes that soothe the eyes tend to have a longer and greater impact on individuals. Therefore, video marketing is one such form of marketing that allows the business to reach almost billions of people within a very short time span by simply making interesting and attractive videos of the business that will attract the customers.
- PAY PER CLICK ADVERTISING: It is the process of showcasing the business through the paid ad services that are provided by various social platforms such as Twitter, Facebook, Instagram, and so on. Banner ads are one of the most common examples of pay-per-click advertising. The publisher of such an ad is always paid whenever an individual clicks on it.
- CONTENT MARKETING: It may be referred to as a way of connecting with the customers through the process of creating any content on the topic on which the business deals. This is also considered an excellent way to promote business.
- AFFILIATE MARKETING: It is the process by which companies and businesses hire influencers and public figures to promote their business on various digital platforms, such as YouTube and many more. The influencers charge some commission or fees to promote the business.
- SOCIAL MEDIA MARKETING: Almost every age group now considers social media to be their favourite pastime. Many people consider social media sites as their new source from which they can gather all the relevant news and information about the incidents and happenings around the entire globe. Thus, social media marketing is one of the most effective channels of digital marketing and is also one of the most successful modes as well.
QUICK FACTS ABOUT DIGITAL MARKETING:
| In a recent survey, it was seen that 85% of the consumers do ample online research before actual purchase. |
| 45% of consumers rely on social media while buying a product. |
| Pinterest pins are worth 63 cents each. |
| 70% of content makers are creating more content than they did twelve months ago. |
| 95% of the adult population uses social media regularly. |
| Almost every online experience begins with a search engine. |
| Social responsibility is more important for content marketers in today’s daily lives. |
| Video marketing increases brand awareness, leads, and sales. |
| Google handles almost 69% of the queries. |
| Using a good workstation improves productivity, |
IMPORTANCE OF VIRTUAL MARKETING
Digital marketing has turned out to be an important aspect in today’s time. It helps the sellers advertise their products and services through an online platform that reaches people globally and locally as well. Digital marketing helps assist brands in targeting the right audience at the most appropriate time, irrespective of the geographical boundaries and time zone. Digital marketing has become more and more important than before as it is affordable, flexible and engages people all around the globe which was not possible earlier during the era of traditional approach.
EXAMPLES OF DIGITAL MARKETING:
There are various ways and platforms through which digital marketing operates. Most of the platforms and techniques are paving their ways for a brighter and self-radiant future as well during a short time span.
Few of the examples of digital marketing as follows:
- Social media profiles.
- Blogs post and e-books.
- Websites.
- Image and video content.
- Reviews and customer testimonials.
- Icons, images or branded logos.
- Display advertisements.
- Search engine marketing.
CHALLENGES FACED BY ONLINE MARKETING
Online marketing comes with numerous challenges as well. These challenges can at times ruin the entire business or put it at stake as well. A few of the challenges faced while doing digital marketing are as follows:
- Time-Consuming: Online or online marketing is a time-consuming process as, to stay on top and in the market, the creation of regular content is required, which is a time-consuming process.
- Competitive: Digital marketers incur a lot of competition due to the entire business being available to all. As a result, rival companies copy the product, increasing the level of competition.
- Data Privacy: While uploading and portraying the entire business online, the seller should always be aware of the online thieves that are very common in today’s time. Every business must follow the data privacy laws and regulations made for the benefits of such Virtual marketers.
- Technology: While making websites, business handlers need to keep in mind that these websites should be operated from all electronic devices, such as tablets and mobile phones. It should not be limited to the screen of a PC only. Crashing of websites and server issues are also matters of concern, and businesses may incur some losses due to technical problems.
BENEFITS OF DIGITAL MARKETING:
Every coin has two sides, and so does digital marketing, which also comes with both challenges and advantages. A few of the advantages of digital marketing are as follows:
Global and local reach, cost effectiveness, customised channels, and targeting a specific audience are a few of the benefits of digital marketing. Digital marketing tends to group all the various types of businesses and potential buyers together.
B2B VS B2C
| BASIS | B2B | B2C |
| Example | Payroll processing companies | Restaurants chains |
| Size | The size of the order will be large. | The size of the order will be relatively smaller. |
| Function | The firm sells its products and services to other firms. | The firm sells the products and services to individual consumers. |
| Focus | The main focus is to build long and strong business relationships. | Focuses on building a strong consumer base. |
| Aim | To provide other businesses and firms with their own products and services. | Providing products and services for the final consumption of the consumers |
| Offerings | Raw materials, manufactured materials, and so on | Final goods or consumer products |
| End user | Other businesses and companies buy offerings for their work-related activities. | Individuals buy the products to satisfy their individual wants. |
| Definition | B2B means the transactions and business operations taking place within two or more businesses or firms. | B2C refers to transactions occurring between businesses and customers. |
INBOUND MARKETING VS DIGITAL MARKETING:
The main point of difference between inbound marketing and Online marketing is that Online marketing does not make any kind of differentiation between inbound methods and outbound methods. Digital marketing is used as the home for all the different kinds of marketing that include digitalization.
Inbound marketing keeps its main focus on customers through online platforms. It uses its methodology of digital marketing to attract marketing assets and delight customers online. Inbound marketing is a shorter term, whereas digital marketing is a much bigger concept.
PILLARS OF DIGITAL MARKETING:-
The pillars of digital marketing are mentioned below:
- Plan: The first and foremost important step is to plan and organise all the essential ideas and steps that are to be taken.
- Reach: To increase the awareness of the product or business to the maximum number of people.
- Act: The next step is to create a good image of the business and interact with the customers and other businesses.
- Convert: To convert and increase online and offline sales of the product.
- Engage: Regularly work on improving customer loyalty and building relations.
- Success: In the end, with all the hard work and efforts put together, success is sure to be achieved.
HOW TO LEARN DIGITAL MARKETING?
There are numerous ways in which one can learn digital marketing. As Internet marketing is a trending topic in today’s time there are ample ways to study and explore this field. An individual can learn and study Internet marketing all by themselves as well. A few of them are mentioned below:
- Start your own blog.
- Enrol in paid Internet marketing courses.
- Read digital marketing books and blogs.
- Doing an internship or practical training as Online marketer.
- Watching YouTube videos and webinars.
- Listening and following up on regular podcasts.
- Following social media influencers.
- Doing an MBA in Virtual marketing.
- Pursuing a course by Google digital unlock.
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FREQUENTLY ASKED QUESTIONS:-
Local reach, lower cost, effective targeting, global reach, and so on are the few benefits of digital marketing.
Product, price, place, and promotion are the four principles of digital marketing.
The different channels of digital marketing are SEO, email marketing, video marketing, SMS marketing, and so on.
SEO, artificial intelligence, and data analytics are the future of digital marketing.
Philip Kotler, an American professor is referred to as the father of digital marketing.
Affiliate marketing, content marketing, social media marketing, and influencer marketing, and so on are a few examples of digital marketing.
