The Concept of digital marketing
Concept of digital marketing – The world is changing with rapid speed. So, the ways of marketing have also changed drastically. This is because of the internet and technology. Digital marketing and social media are having a significant impact on marketing. Therefore, understanding of basic digital marketing has become vital for all.
Let’s understand the basic of digital marketing here.
Here’s the breakdown on the concept of digital marketing:
Online marketing concept
- Search engine optimization (SEO)
- Search engine marketing (SEM)
- Content marketing
- Social Media Marketing (SMM)
- Pay-per-click advertising (PPC)
- Affiliate marketing
- Email marketing
Offline marketing concept
- Enhanced offline marketing
- Electronic billboards
- Digital product demos
- Digital product samples
- Radio marketing
- Radio commercials
- Show sponsoring
- TV marketing
- TV commercials
- Super Bowl commercials
- Phone marketing
- Cold calling
- Text message marketing (giveaways, coupons, loyalty programs)
- QR codes
What is marketing?
Marketing can be defined as the process of management through which goods, as well as services, move from a concept to the customers. It is the combination of 4 P’s associated with marketing.
4 P’s associated with marketing.
- Product- Identification, selection, and development
- Price- Determination of value of the product
- Place- Selection of a process of distribution of item at the customer’s place
- Promotion- Development of promotional strategy as per the requirement to sell the product
Marketing is all about the thinking of business according to the customer perspective. There is a difference between marketing and selling. Selling involves the exchange of money of people with the product of a proprietor.
It is not related to the values of the exchange. It also does not matter about the whole process. But in the case of marketing, the whole process is kept in mind.
It is a combined effort of the different departments starting from promotion to reaching customer satisfaction. In other words, it can be said that marketing has no relation to the price, but with the fulfilment of customer needs.
What Is Advertising?
Advertising is the literal method of creating a product and repair acknowledged to AN audience. It is the outline wont to gift the merchandise, plan or service to the planet. This generally entails advertising campaigns in the media. A crusade uses artistic positioning within the media. Advertising should be timely and employed in a specific strategic method.
What Are the Similarities Between Marketing and Advertising?
First of all, it’s important to note that advertising is a component of marketing. Marketing refers to getting ready a product for the marketplace. Advertising is creating your product and repair famed to AN audience or marketplace. Advertising is a specific step in marketing. Advertising uses the info and analysis collected by promoting methods to best communicate the complete.
Marketing could be a lot of controlled and wider-reaching method, whereas advertising is restricted to complete communication. In a way, promoting is each analysis and observe, whereas advertising is straight observed. Marketing involves client behaviour and research, whereas advertising involves artistic endeavours like style and transmission production.
Commercial marketing meaning
Commercial marketing is pitching of goods to individuals or companies. The aim of commercial marketing is to develop a sound relationship with corporate or individual clients and the product. The relationship here is by creating and achieving brand identity which is easily related to the consumer.
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Modes of Traditional Marketing
What is digital marketing?
Digital marketing can be defined as the promotion of products with the usage of electronic media. There is a slight difference between digital marketing and traditional marketing because digital marketing involves the usage channels and methods that are used by organizations to analyze the marketing campaign and get an idea of the working and non-working parts of the marketing.
Understanding the concept of digital marketing
The digital marketing process follows 6 steps to be successfully implemented. The 6 steps are-
- Developing digital marketing strategy: In order to develop an effective digital marketing process, a person needs to identify the goals, recognize the goals, understand the target demographic, defining and measuring the success related to ultimate ROI.
- Create and maintain an effective website platform: A website is the primary necessity for any sort of online marketing or generating of leads. But the website should not only be simple to navigate but should also exhibit professional appearance. Smartphone compatible and appealing search engines should be present.
- Boosting of inbound traffics: It is evident that stronger inbound traffics will help to equate to higher qualified prospect and improved conversion rates. In order to maintain a healthy traffic, a website can be integrated with blogs, social media integration, on-site and off-site search engine optimization, pay per click campaigns.
- Generation of leads: Attractive as well as relevant offers will help to generate leads.
- Conversion of leads: Once your good leads, now you can offer them your services and products to buy. However; always keep in mind that don’t push them to buy what you want to sell, sell them what they want to buy.
- Measurement and reviewing: Some of the metrics needed to be reviewed in order to improve and maintain the website. These metrics include SEO success, pay per click costs and rates, blogging effectiveness, social media audience size and email subscribers.
Why does digital marketing win over traditional marketing?
It is evident that with the advancement in the cyber world, digital marketing and social media is playing a very important role in the life of people when it comes to promotion and gaining popularity. Following are the 10 advantages of digital marketing over traditional marketing-
- Level playing field: The competition between the competitors is healthy because in the case of digital marketing smaller business personnel have the capability to compete with a more efficient businessman. But in case o traditional marketing, a smaller businessman will struggle to thrive when competing with a more popular and healthy businessman.
- Reduction in cost: The business has the capability of developing an online marketing strategy for a much lower cost and can potentially replace the costs of advertising pages.
- Easy to measure: It is easy to get the real-time counts of the functional segments of the business. Even with the help of Google analytics, the exact number of visitors to the website will be easily available. But in the case of traditional marketing, these features are very difficult to get.
- Real-time results: There is no waiting time as there is no requirement of fax and other forms to be returned to get the idea of the marketing. The entire conversion rate, trading times, visits, and many more features will be readily available with the click of a button.
- Refinement of strategy: The customer journey can be reported or honed for greater success at a fraction of the cost of traditional marketing. It helps to avoid dealing and debate with the customers.
- Brand development: With the help of the contents of the website, it is easy to maintain the brand name of the website.
- Greater exposure: with the development of the website, the exposure increases by a great deal. It becomes easy for the businessman top to reach to different people right at their doorstep. The people can visit their websites to get an idea of what is available at the website.
- Viral: It is not easy to spread sales fliers with the help of customers. But with the introduction of digital marketing, the spread of popularity can be done with the help of social media.
- Non-intrusive: Digital marketing is non-intrusive in nature. People can easily opt-out from the mailing system of digital marketing.
- Greater engagement: With the help of digital marketing, it easier to reach a wider variety of customers. It becomes easier for the customers and clients to read the contents of the business firms.
A strategical defined and well planned Digital Marketing can give you significant visibility that finally helps you to turn your perspective into the loyal customers. These all can happen in a fraction of time.
Exchange definition in marketing
A marketing exchange is a process exchanging goods or services, which is between two or more people. In marketing theory, every exchange should result to produce something, which is “utility,” this means that the value you receive from the trade is more than the value you receive from that trade. Of course, all the exchanges of goods and services are much more complex in the real world.
How Marketing Exchanges Works
Marketing theorists think about the exchange to be the central construct while not that there would be no such factor as selling. For Associate in Nursing exchange to happen, each party have to be compelled to have one thing valuable for every alternative. For instance, a person visiting a cafe may need enough cash to shop for a cup of low whereas the restaurant has the low. Both parties must be able to communicate with each other, and both must want to exchange something and be able to do so. If the customer in the coffee shop can’t make himself understood, or if he decides he doesn’t want a cup of coffee, or if he turns out not to have quite enough cash, then there will be no exchange. If all of the required conditions square measure met, there’ll be Associate in Nursing exchange of cash for low.
What is digital visibility in the concept of digital marketing?
Drawing attention while standing in the crowd means visibility in digital marketing. With the implementation of a few steps to increase the performance of digital marketing, the visibility of the business increases.
Ways to increase digital visibility
The different types of operations that are used to increase the visibility are
- Blog- Blogs are very essential marketing tools. The blogs will showcase the specialization of the business
- Learn SEO basics-There is no requirement of being an SEO expert to increase online visibility. With the proper contents of the website and using appropriate on-page search engine optimization, it becomes quite easy to make it to the top of the search engines.
- Curate content-There is no requirement to generate something new and unique in order to generate the page. Sharing of contents can also get the job done.
- Obtain customer reviews-On of the most effective way to increase the visibility is to obtain customer reviews. A satisfied customer will not care to post feedback. But am unsatisfied customer will post reviews. These reviews will help to improve the contents.
- Become an active social member-Interacting with users over social media will help to boost the business. So, you can need to optimize your social media pages.
Visibility helps you in visitor engagements. That builds a beautiful relation between you and your customers.
What is visitor engagement?
Visitor engagement is the ability to engage the audience of the website to interact about the website. In this stage of the marketing, perspective asks you about something or they might show you interest in your product. Your website, blog or social media pages can be good tools of engagement of the customers. Sometimes, they can mail you or call you to know more about your services and products.
Why is visitor engagement necessary?
Visitor engagement is necessary so that the owner of the website or business can get an idea of what the users are expecting and the areas where he needs to improve.
To increase visibility and engagement, one needs to increase its inbound and outbound targeted traffics. It can be done through Outbound Marketing and Inbound Marketing.
Let’s understand what are these concept of digital marketing:
What is Outbound Marketing?
Outbound marketing is also known as interruption marketing, and for a long time, it was the primary form of marketing for most businesses. Think of it like this; the business using outbound marketing is going out and trying to find people it can convince to come visit their storefront. It’s aggressive, it’s disruptive, and it’s unsolicited.
Key Stats Concept of digital marketing
44% of all direct mail is never opened, making it a waste of postal service worker time, a waste of postage money, and a waste of paper.
86% of people skip TV commercials in some way or another. This number is higher than ever since the innovation of recorded television allowing commercial skips or skips of 10-30 seconds at a time.
84% of young users, ages 25-34, report having left a website or closed a browser tab because of an irrelevant or intrusive advertisement.
What is Inbound Marketing?
Inbound marketing is marketing to a captive, interested audience. Blogs, for one thing, are one of the most common forms. YouTube videos, all forms of SEO, RSS feeds, eBooks, landing pages, highly targeted ads; these are all forms of inbound marketing. Simply, inbound marketing means spreading the information or trying to educate your traffic about your product and its benefits.
Difference Between Inbound and Outbound Marketing
The difference between outbound and inbound is that inbound marketing is a conversation with interested parties. When someone calls your office and is already interested in your product, you pass them off to a salesman, who then makes their pitch and tries to close the deal. That’s inbound marketing; the customer knows about you and came in for the marketing.
Inbound and Outbound marketing
The key difference between inbound and outbound is that inbound is also called Permission Marketing. In other words, the users are implicitly giving you permission to market to them. When they sign up for your mailing list, that’s permission. When they follow you on social media, that’s permission. When they express interest in your products over an email or phone call, that’s permission.
Once customers engage with you or product that you offer, now it’s your ability that how you keep them engaged or how you retain them.
What is Customer Retention?
The Concept of digital marketing explains customer retention as an activity that a selling organization undertakes in order to reduce customer defections. Successful customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship.
Why is customer retention important?
Customer retention is important so the requirements of the users could be understood by the company. This will help to improve the contents of the digital market.
What are the types of customer retention techniques?
There are three types of customer retention techniques. They are-
- Redefinition of how to measure customer value
- Make an investment in data-driven technologies
- Reprioritize and restructure the priorities.
Your presence on different digital marketing properties matters more than ever, it’s a good idea to take time out of your schedule to regularly evaluate how well your strategy is performing.
Why is it important to evaluate the performance of marketing?
Evaluation of marketing is important because it helps to improve and enhance brand awareness among the customers. It also helps to measure the financial condition of marketing. The performance and the result of marketing also allows a company to get proper feedback on the subject so that they can the company can review its marketing budget. They can then increase it or decrease it.