The Importance of Digital Marketing and its Core Components

Introduction

A business survives on a key component of driving constant sales. Money will be talking when you once own a business. Therefore, it would be an essential need to “market” the business to make better profits. Back in the day, people used to market their items via an ad in a daily newspaper. Fast track fifty years, it was a television commercial. However, nothing has hit this space as much as the digital revolution that happened a good two decades ago. The global village we live in today, thanks to the Internet, allows companies to buy a website for a cheap price, sprinkle in a few keywords and call it good! This phenomenon is evolving as we speak, as each day introduces new methods of marketing in the digital space. What is interesting is that this method reaches people in attractive and interesting ways.

What is marketing?

Marketing can be simply defined as an activity or a set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and the society at large.

What is digital marketing?

As explained above, this term was coined to refer to “online marketing”, which is essentially any form of marketing which happens on the Internet or the World Wide Web. As opposed to the traditional web (which existed a decade ago or so – sometimes referred to as “Web 1.0”), in today’s context, a company may have various online channels and social media channels which they could utilize to reach their potential customers by marketing the products, services, business or organization. This also includes passive marketing as well and in general includes the following:

  • Primarily, your website
  • Search engine marketing (SEM)
    • Search engine optimization (SEO)
  • Pay per click advertisement (PPC)
  • Remarketing
  • Marketing automation (including email marketing and messenger marketing)
  • Email marketing
  • Social media marketing
  • Content marketing
  • Video marketing

Digital marketing plays a major role in helping the product or the business to get found, get noticed, get leads, and then turn those leads into returning customers. In the digital sphere, if you get your brand across to your potential user-base, the chance of such leads converting to sales is naturally high due to the attractive nature of the web in itself. For example, if one searches for “handbags” on Google and stumbles upon your site, s/he will be naturally led into thinking that your store would be a “preferred” store for handbags. Under such an impression, the chances are that the customer will bookmark your site or share with friends, in turn generating multiplied leads.

The reason which makes digital marketing so influential is the fact that most customers are connected to the web due to widespread use of smartphones and tablets. It is said that online research is carried out by 81% of consumers before they make a purchase. A business which does not have a website would not even be considered by 30% of consumers.

Most important fundamental of marketing and advertising is to identify who and where your target audience is. As of now, your target audience is online!

Core components of digital marketing

  1. Your website

The website would be the best marketing asset of all online real estate. This helps to bring customers to you via company created content on your website. As per statistics, 75% of the people have judged a company’s credibility based on website design. Therefore the website should be,

  • fast because 53% consumers click the “back” button after three seconds.
  • secure and responsive – in today’s context, users are more aware of the data they submit to websites, and as such expect reputed brands to give due regard to their data with relevant security mechanisms implemented (such as having https)
  • mobile friendly – more users browse the web on their smartphones, and non-responsive sites will give a bad impression of your overall image
  • clean, professional and easy to navigate.
  • optimized for SEO
  • Search engine marketing (SEM)

93% of the people find the website via search engines like Google. SEM includes the techniques and marketing methods which make the company dominate the search engine results page for a particular set of phrases, questions and key words. This is done by:

  • Search engine optimization (SEO) – When customers searching online, the website would not be shown on first three pages of results if it is not properly optimized. 75% of the users would not scroll past the first page. Therefore, SEO needs keyword targeted content with proper title, headings, subheadings, tags, meta descriptions, image descriptions etc.
    • Pay per click advertisement (PPC) – This consumes a less time than SEO and immediately show up through paid ads. This allows to target certain keywords or key phrases to promote to your potential customers.
  • Remarketing

Some websites follow the users with their ads, and this is called remarketing.  This can be cited as a successful component in digital marketing as the visitors retargeted with ads are 70% more likely to convert on the website.  Many websites can be retargeted including social media, such as Twitter, LinkedIn, Facebook etc. As of recently newer formats introduced for social media users such as Facebook Groups and events allow this sort of remarketing.

  • Marketing automation

Marketing automation is used as an umbrella term which includes any form of messaging which is triggered automatically from email marketing to automated texts. A classic example for this is automated Messenger replies on Facebook and LinkedIn. In the recent past, advancements made in the field of artificial intelligence have paved way for “intelligent chatbots” to be integrated with your web platforms as well, and this serves as a “smart messenger” to customers giving them a unique user experience while reducing the burden on company overheads.

  • Email marketing

Email marketing paves the way to keep in touch with customers and to give them a description of products and services. This is effective in promoting specials and in getting customer feedback. Although many believe this to be an outdated form of marketing, 66% of business leaders check their emails in the morning while 61% of the consumers enjoy promotional emails. Email marketing has an average ROI of 4,400%.

  • Social media marketing

Marketing done via social media profiles and platforms are covered in this component. Currently, 17% of customers use social networks to look into information about businesses. For example, as we speak, in this Covid-19 lockdown period, almost all social media users are turning to their social networks to look for businesses and services providing their services during the lockdown. As of now, Facebook, LinkedIn, Twitter, Pinterest, Instagram are the top platforms for social media marketing. These help to build an online presence, engage your prospects and customers, as well as listen to customers. It allows learning in real time to understand hits and misses in the services businesses provide as well as understand the efficiency of the overall business practices.

  • Content marketing

High quality content is the most significant item to an effective marketing strategy which helps to increase brand awareness through website and social media by posting blog posts, videos or photos. Regular posting fresh optimized content helps to increase traffic to the site and can benefit the search engine position of the website.

  • Video marketing

Marketing is done in the shape of a video which is amazingly effective. According to the statistics a video is 50 times higher of getting organic page ranks in Google than plain text. People who watch videos stay two minutes longer in a site and are 64% more likely to make a purchase. Internet Service Providers around the world are making the bandwidth faster by the day, and it means that video will become the de facto mode of effective and fast communication in the recent future. At the moment, it is reported that an average US consumer watches up to 6 hours of digital videos per day.

  • Analytics

All above techniques would be rendered worthless if there was no way of really knowing which of your methods worked for you to get your customers. This is where analytics come in, which allow you to measure the marketing efforts and track their success. Analytics also come with the capability to analyze the efficacy of the campaigns, to adjust or to change based on the data. All online channels consist of analytics that can be utilized to deploy marketing strategies more effectively.

Conclusion

Finally, owning a website for a business simply conveys that there are many competitors. Without wasting time trying to increase the market share, it would be more effective if the company comes up with a solid digital marketing strategy in accordance with the business environment and its dynamics. As the old marketing efforts are not compatible in this new technological era, investing time on digital marketing would be precious.

“Ignoring online marketing is like opening a business but not telling anyone”

Spread the love!
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Kaushalya Wickramanayake

Related post