Digital media consumption growing everywhere and as the world is online, people spend more time online. Even marketers are spending more of their time and money focusing on digital media too.
What will happen in the nearest future? Over the past ten years, digital media has been changing the face of all media consumption.
So what will happen in the next few years?
- Modern digital TV networks will continue to thrive
- Access Providers will continue to thrive.
- Traditional TV networks will go through decades of consolidation.
Why Marketing is multiplex?
As it comprises tons of different disciplines, strategies, and tactics, it results in developing a basic understanding of how it works can be difficult. Learning the trade can take years of dedication and honing your craft, oftentimes in a handful of specific areas like strategy, copy-writing, or analytics.
Like a lot of things, though, future success starts with solid fundamentals.
And if you’re looking to learn, you’ve come to the right place.
This post will cover everything you need to get started on your marketing journey. Think of it like the ultimate guide to Digital Marketing, packed full of actionable advice.
It’s also laid out to be easy to understand, turning complicated concepts into easily digestible chunks of information.
Bookmark this page, then get down to learning.
Lets’ begin. What Digital Marketing is all about?
Before we explore and understand what is digital marketing, let’s start with the basic concept of marketing.
Marketing is a broad term that encompasses every activity related to promoting the services of a business or selling products to the customers. For instance, the door-to-door approach to selling is a type of marketing. Pamphlets and Newspaper Ads are also a type of marketing. Business exhibitions or a stall in an expo is also a type of marketing.
Marketing is the basic fundamental of science which runs on human psychology. Marketing starts with an idea of new product by knowing the needs and demand of customers which makes their life gracious and comfortable.
Marketing is about reaching the right customer at the right moment and keeping a long term relation, which will enhance a quality out-turn. Building a brand and capturing the customer mind will boost up the selling.
Advertising is a method of promoting the product or service. The purpose of advertising is to reach people who are willing to pay to buy your product and service. An effective advertising strategy gives you maximum return on investment. Therefore, it is necessary to choose the right advertising strategy to promote the product and service.
Branding is vital for businesses because it drives public perception and is one of the most critical factors behind purchasing decisions. Branding helps differentiate your business from other companies in a similar market. Good branding will increase brand awareness.
In short, Marketing + Digital Platform = Digital Marketing
Digital marketing is using digital channels to reach out to more number of audience and build a customer base wider than before. Due to the easy availability of a huge customer base, internet marketing helps the business pitch more customers than traditional sources.
Further, if you are wondering what is online marketing or what is internet market, these are the synonyms of what is digital marketing.
Why Direct response marketing ?
It is a type of sales technique designed to evoke an on-the-spot response and encourage a prospective customer to take action by opting in the advertiser’s offer. Unlike other marketing types, the direct response requires little or no time waiting to see measurable results. Advertisers are able to access performance from the moment the campaign is launched. Direct response marketing facilitates the delivery of a “call to action” via direct or online interaction.
Direct response marketing could be found nearly in all forms of advertising, including TV Commercials, print marketing (magazines, newspapers, etc.), radio spots, websites, and online ads. By creating an irresistible offer, advertisers push prospects through all marketing channels and generate leads. Lead generation is a process of converting strangers and passers-by into paying customers. The desired response massively depends on the goals of a specific ad. For instance, in exchange for the free offer the advertiser may ask a prospect to sign up, share contacts, register on a website, and so on.
Benefits of Direct response marketing
Generating immediate ROI (return on investment), Traceable performance, Measurable outcomes, Targeting specific audiences, Precise segmentation.
Why learning and master marketing, Indispensable?
Marketing not only deliver value to customers, but also that value translates into the value of the firm as it develops a reliable customer base and increases its sales and profitability. Marketing benefits society in general by improving people’s lives in facilitating trades. Marketing improves the quality of life is based on the value delivery function of marketing, but in a broader sense.
Marketing is the interface between producers and consumers. In other words, it is the one function in the organization in which the entire business comes — together. Being responsible for both making money for your company and delivering satisfaction to your customers makes marketing a great career.
Marketing is not without its critics. We already mentioned that one reason to study marketing is because it is costly, and business leaders need to understand the cost/benefit ratio of marketing in order to make wise investments. Another criticism is that marketing creates wants among consumers for products and services that aren’t really needed.
How good communication enhances the productivity?
An effective communication builds and maintains relationship. As a professional marketer, you must create emotional connections with your clients.You have to make your potential customers feel valued and comfortable when telling them about your company’s goods and services.
A good communication facilitates innovation in marketing. When marketing your company’s goods and services, you must be creative. If you have effective communication skills, you will be able to come up with innovative ideas when interacting with your potential clients.
To maintain transparency in the organization, marketer need to communicate regularly with your employees and customers. Transparency relationship convinces the worldwide customer to trust the brand, which will bring growth and development to the business.
Confidence and motivation are two crucial features that effective communication brings to a professional marketer.
The ability to express your ideas perfectly will play a significant role in boosting motivation and morale when speaking to your audiences about your brand.
Economic Factors That Affect Marketing
It would be great if the success of the marketing plan depended solely on our own creativity and effort, but the harsh truth is, other factors get in the way.
Inflation, demand and supply, interest rates, taxes and recession all influence how much money people have to spend as well as the price of the product. These factors have a direct impact on the market as well as your customers. Marketing is more important than ever, especially since the global economic crisis. No country in the world has escaped the effects.
Inflation is one of the primary economic marketing aspects that affect customers’ purchasing power.
The changes in disposable income impact customer spending. For example, if unemployment rates increase, the demand for goods and services will drop.
A recession is a slowdown in economic activity that lasts for more than six months. It affects employment rates, income and real GDP, leading to a decrease in customer demand.
High-end goods, such as jewelry and cars, are often purchased on credit. If interest rates increase, these products become more expensive for customers who can’t afford to pay cash.
Ecological concerns, such as air and water pollution, have grown over the past decades. Organizations need to be aware of these issues and adjust their business strategy accordingly.
Technological advances are a strong economy marketing factor that organizations can’t afford to ignore. Social media, data-driven marketing, artificial intelligence, machine learning and other trends are disrupting the business landscape. They have the power to shape customer behavior and buying preferences while creating new market opportunities.
Do you know why most Start-up fails?
Do you know why sales is major problem in few small scale companies?
Do you know the fundamentals and frame work behind the marketing?
The answer to the above questions is failing in building proper market strategy. So in order to enhance the business we are going to follow a marketing funnel & framework, called CATT marketing funnel.
Who Really Uses CATT Marketing Funnel and why is it important?
CATT marketing funnel is used by business who use it to analyze the product and check the productivity to enhance the customer satisfaction. This marketing funnel helps to drive the business in a positive manner and build a self brand by attaining the below required fundamentals. Funnel describes how to select a product from initial Stage (Idea) to marketing and sales .
To generate wealth one have to follow the formula :n ^ CATT
Here n^CATT defines as
n = Niche: Niche is the deciding factor in growth and development of the business
In digital marketing, a niche is a focused targeting area to whom you are going to serve well. The niche should be specific and known to you, let us talk about how to find your niche in digital marketing.
Knowing Digital marketing and marketing strategies is not just going to be enough to bring success to a business. You need to know about that business, whatever it is. So it is important to select a niche you can make money from.
Success and wealth depends in the niche you choose
How to find a profitable niche?
The perfect niche necessitates marketability, knowledge and passion for the particular niche. If one has all the three traits then, he/she will thrive bigger and the business revamps to sky-high.
C= Content: Content can help educate your audience, ensuring that they’re making smart purchasing decisions.Strong pieces of content can help you become more visible online, both on search engines and in social media. Quality content can be linked to all over the web, increasing traffic to your website and building authority with search engines.
A= Attention: Attention marketing is a category of online marketing that aims to engage and acquire new customers through non-invasive means, often via social media marketing, Paid ads SEO email marketing, Blog.
T= Trust: Building an emotional connection with customers is one of the most powerful strategies to build trust among your customers. These are the services through which one can build trust are having immediate action on customer’s queries, deliver better customer services, make use of social media to connect with customers, produce the authentic content and use social proof on your website.
T= Transaction: After building trust, Audience become customer and if he is ready then transaction can be made and we can have our profit by selling the product or service.
Why Digital Marketing uses integrated frame work?
In today’s digital era, audience become your customers through different channels. They might become aware of your brand through engagement on your social media page, then start admiring your content through search engine results.
Content is the backbone of integrated digital marketing. Acting as a team leader, it makes the best use of all the channels through the combined marketing campaign. It leads to increasing sales revenue, generating more leads, increasing website traffic, improving lead quality, improving brand awareness, and thereby generating revenue for further expansion.
The integrated frame works starts with content involving social media, email marketing, Paid advertising, SEO then sell and convert to make the product a sequential order to minimize the effort and attain maximum productivity.
Personal brand: Mass Trust Blueprint
Evolution of personal brand includes the following steps
Learn: Learn a new skill through concepts, facts & procedures. Understand the concepts, remember the facts and practice the procedures.
Work: Put your new found skills to work. Go from practice to implementation. Implementing it in the real world will give you better understanding. (Work= job/freelancing/own projects)
Blog: Write about what you have learned and experienced through your work. When you write, you understand it better, but you will also start building your personal brand.
Consult: Now that you have a personal brand through your blog, have work experience and have learned the fundamentals, start consulting other businesses instead of working for them.
Mentor: Mentor others who want to become like you. It will help you scale your understanding to a whole new level.
Startups: Start your own product or service business with the understanding that you have developed about the market, the problem and your own skills.
Digital marketing is a dream business project for digital marketers. If you want to get success in the digital marketplace, you should have sound knowledge about the benefits and limitations of digital marketing. It is a growing field if business. Digital marketing and marketing department is not different from each other. The aforementioned information will help the digital marketers to understand the strengths and weaknesses of Digital Marketing.
However, the conclusion of digital marketing is a useful term because digital marketing requires nothing but certain skills to utilize the digital technology. After acquiring the above knowledge, you may take the risk to invest in the digital marketplace. This is a growing field of business. So, do not neglect the opportunity that digital marketing offers to you.
Digital marketing may fulfill all your cherished dreams within the short span of your life. Digital marketing is a place where anybody can make his or her career. Only you should have to keep patience to get your desired goals.
Like me, you can opt for the Digital Deepak’s Internship Program (DDIP), which changed my perspective towards Digital Marketing. I was late to grab the opportunity but you don’t forfeit such opportunity to invest in yourself.
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