This article is truly about understanding what digital marketing is.
Have you ever considered the difference between traditional marketing and digital marketing? Understanding the features and value system of digital marketing is key to implementing a successful marketing strategy on the digital media landscape.
Difference between Traditional Marketing and Digital Marketing
In traditional marketing, which comprises of TV, radio, billboard and print, it would be quite difficult to track how many people have seen the advertisement and even more difficult to track any form of conversions. The conventional method would be to engage a market research company to a do tracking study by using sampling techniques. This would usually take months and periodical studies to have some form of accurate results.
With digital marketing, it changes all that. In digital marketing we have already arrived. The data is harvested very much more quickly and and technology shortens the lead time required for collecting these data. Digital marketing technology offers an unparallel medium for data to be harvested and presented almost immediately.
Take the case of Paid Search and Search Engine Optimization (SEO) for Google, data is harvested on live feed and takes less than one hour lead time to present dissectible information on their respective analytics platform.
What exactly is Digital Marketing?
According to Wikipedia, Digital Marketing is defined as the use of internet-connected devices such as computers, tablets, smartphones and game consoles to engage consumers with online advertising.
Building upon Wiki’s definition, here are key features of Digital Marketing:
Internet is the central pillar for digital marketing. It provides the media for which companies and people are able to push or pull visitors to their website.
Prompt Data Harvesting
As data is collected within days if not hours (if not minutes), a reporting system can be attached to the digital marketing campaign to capture the data real-time and process it into useful information. With a good report system that analyses the collected data, it can provide quick access to information on time span of the campaign, number of views and amount of clicks that has been clicked in the campaign.
Data Driven Approach for Marketing
As digital marketing is data base driven, this data can be mined via data analytic tool (e.g. Google Analytics – a free tool) and developed into high quality information. Depending on the request, the information can either be used to identify market opportunities or for producing excellent targeted marketing collateral.
In summary, digital marketing is data driven, utilising online distribution channels to reach consumers in a timely, relevant and cost efficient manner.
4 Cs of Digital Marketing
Recall the 4Ps Principle of Marketing? This was the theory of the ideal “marketing mix” popularized by marketing author Neil H. Boreden in 1964.
In digital marketing we have the 4Cs:
In order for your business to marketing digitally and successfully, one needs to put consumer in the centre of the business and to stay true to their desires. A highly relevant service or product will win your consumer’s heart and allow them to share their great experience with your business online via online platforms.
Instead of place, start thinking of convenience of how internet users can access your ad or company. This includes the selection of internet properties for you to broadcast your ads and the user-friendliness in guiding users to your website. On your website, you would also need to consider how easy it would be for users to surf around your pages or to make an online purchase.
Digital marketing amplifies the ability for businesses to communicate with consumers in an ongoing conversation. Be it on your corporate blog or Facebook comments, Keep them engaged!
The great thing about digital marketing is that it allows you to see the cost, incurred impressions, clicks and click-through rates. Try to use cost per click and measure it with the various conversion rates. This will help you to manage your financials and to fine tune your digital marketing strategy.
With this knowledge of digital marketing, its definition and its basic principles, you are well ready to position your organisation in the digital world!