What Every Business Owner Must Know About Digital Marketing
Digital Marketing / Internet Marketing / Online Marketing are one of the most used terms of the industry today. However, it is sadly just a bunch of jargon for most of the people who hear it and use it to convey their mind. What exactly is digital marketing and what part of it is essential for today's business person? We're here to break it down for you in the simplest words possible.
Online Marketing is simply marketing of your product or service onto digital platforms so as to hold onto your loyal consumers as well as increase your reach to new potential target audience swiftly.
That is it. That is what Online marketing is. There are some other questions that need attention to solve your confusion; such as:
Is digital marketing the same as social media marketing?
The answer is yes. Digital / Internet marketing is a wider concept as compared to social media marketing in the sense that, all social media platforms are available digitally ie via the internet. However, there are other platforms that come under digital marketing other than social media marketing.
What are the concepts and platforms of digital marketing?
The search engines that we use to search our questions and requirements are in themselves a humongous platform for online marketing. This concept is called "Search Engine Marketing" or SEM.
Search Engine Marketing is marketing of your product on search engines such as Google and Bing by Yahoo. This platform is of utmost importance for businesses that are into a B2B industry.
Another concept that comes under the wing of digital marketing is "Search Engine Optimization" or SEO. Search Engine Optimization is a way of developing your website's content in a way that allows the search engine's algorithm to crawl and test your website efficiently. It is a way to get higher rankings in the search results on the search engine; helping us to have a better hand at SEM.
SEO is a primary necessity of any and every website owner as it helps you stand out among the sea of websites we see today.
Social Media Marketing is a concept that enterprises of campaigns designed to market your product or service on social media platforms such as Facebook, Twitter, YouTube, LinkedIn, etc. SMM is a great tool when it comes to products that have a B2C segment.
There is an interesting concept called Re-marketing in Internet marketing which enables us to reach out to the potential consumer base multiple times. It can be seen as following your consumer on various platforms, websites and showing your personalized ad copy to them so as to keep reminding them about their visit to your website.
This also enables us to work on another factor called Consumer Lifetime Value wherein we can increase our reach to existing customers and improve our ROI from these consumers through various practices such as Email Marketing, Re-marketing, Paid Ad campaigns, RSS Feeds etc.
However, for a great digital / Internet marketing experience, a campaign needs to be developed using all the above mentioned platforms.
How is digital marketing different from traditional marketing?
Digital Marketing is cost effective in terms of better reach and results.
Internet Marketing lets you target specific audience based upon demographics, interest and devices.
Internet Marketing gives us factual data that can be statistically analyzed. For instance, if a hoarding is marketing your product, you have no clue how many people saw the hoarding, read the content and actually became customers because of that hoarding. However, in Digital marketing, say we run a campaign marketing the same product, we can analyze the data produced by different marketing platforms that can show us how many people saw the product, how many actually became consumers and which consumers came through which of the used platforms. This allows us to find glitches in our campaign and work on it to make it even more action driven.
But then should traditional marketing be stopped completely?
Of course not! Traditional marketing, in fact, paired with digital marketing can give results superior than just traditional or digital marketing.
However, one thing that people mistake about digital marketing is that that it can be done for free. It is true to an extent; however, to get the best results, digital marketing needs to have an independent budget. Money must be set aside to be able to exploit all the opportunities that digital marketing has to offer to your business and its glorious future.