Digital marketing is an integral part of digital marketing which uses electronic and online-based digital technology like desktop computers, cell phones and various other digital media and interactive platforms to advertise products and services worldwide. It includes advertising and selling via e-mail, social networks, websites, video, instant messaging, blogs, RSS feeds, banner ads and websites. The Internet has become one of the biggest sources of information and one of the most popular ways of reaching out to prospective customers. This is possible since the Internet has become a platform through which people from different parts of the world can easily connect and share ideas. The Internet has also come to be a convenient way for businesses to improve their reach and improve profits.
There are two important types of digital marketing. One is pay-per-click (PPC), where a company can bid on keywords or key phrases that will represent their business or products and then bid on those keywords or key phrases to get exposure. Second is cost per impression (CPM) in which ads are displayed for a certain period of time on a website or blog. Both types of digital ads are measured by cost per click (CPC), cost per mile (CPM) and cost per thousand impressions (CPMs).
Digital channels in digital marketing works on the principle that consumers always want to have the latest in technology. So, if companies continuously add to their catalogue of products, consumers will keep on checking for the newest in the range of products. If consumers get the latest in the means of entertainment or the latest in the food chain, they will definitely want to have the latest in those products. Hence, digital channels of marketing are aimed at ensuring that consumers are constantly on the lookout for the latest and the best in their respective fields.
Digital marketing strategies are therefore aimed at ensuring that consumers keep abreast with the latest and the best. Apart from that, digital marketing also ensures that consumers remain engaged with the particular service or product, until such time that it is no longer useful to them. For instance, if consumers have a vast collection of magazines, books, and websites in which they can access information or buy products, but if they do not use any of these sites regularly, chances of them accessing these sites again, till they run out of the particular topic, is minimal. Hence, traditional marketing strategies are futile when it comes to reaching consumers using digital marketing methods.
It is a common misconception that when traditional marketing methods are replaced by digital marketing, there will be less money spent by the company. This is however not true because digital marketing does not mean you will spend less. There will always be costs involved in running a physical store. You will have to rent on the store, wages to pay to employees, utility bills, inventory costs and so on. On top of all this, you may have to invest in marketing and promotions as well. Hence, it will be safe to say that consumers will actually end up spending more than what they would have done if you had simply marketed through the conventional means.
The success of your business is dependent on how well you know your target customers. If you do not pay attention to who you are sending your promotional materials to, you will not be able to convert many leads into actual sales. Hence, it is important that you take time to identify your potential customers and study their preferences. With digital marketing works, you will be able to know the right questions to ask them to obtain the information you need to successfully close sales.
Another advantage of digital marketing strategies is that you will be able to tap into multitudes of buyers at one place. Traditional marketing methods generally require you to advertise to just a few target customers at a time. This is mainly because there is only so much a person’s attention span and no matter how many times you advertise, the person will soon get bored and look for a new supplier. However, with the help of digital channels, you can reach out to millions of buyers at once, which increases your chances of acquiring new customers.
The digital marketing strategy equates to more conversions because you will be able to fine tune your ads based on user behavior. This means that you will be able to change the tone and theme of the ad based on the responses from the target audience. Most traditional advertisers have a limited user journey and can fine tune their ads depending on the response they get from each audience. However, digital marketers have access to an unlimited number of users and a diverse user journey. This allows them to fine tune the ads to better respond to user behavior.