Table of Contents
- How 9 things will change your approach to digital marketing-
- Affiliate Marketing
- Social Media
- Search Engine Optimization (SEO)
- Email Marketing
- Latest Content
- Data Analysis
- Campaigns for Marketing
- Use of Incentives and Records
- Key Takeaways
- FAQs on digital marketing.
Digital marketing is a new aspect of marketing. It is that component of marketing that promotes a business/brand using the internet and other forms of digital communication. The COVID 19 pandemic has brought the world closer to technology, and many conventional businesses had to rely upon the digital marketing approach to foster and grow their venture. In this digital era, the success of any business depends highly on what kind of digital marketing techniques and strategies they are using and how it presents itself on various digital media platforms.
Digital marketing can seem quite challenging since you have to manage many things and decide upon the right digital marketing approach according to your product type. Some common challenges faced by people are:
- Gathering your customer data
- Interpreting the customer data to learn about what your customer wants
- Creating engaging content
- Staying current with Google trends and optimising your content accordingly
This article will help you determine the right digital marketing approach for your needs.
9 Things that will Change the Way You Approach and Create a Digital Marketing Strategy
Choosing the correct online marketing approach to promote your business is very important since every product and business needs to be promoted in a customized manner. Therefore, it is essential to plan your digital marketing strategy for your product. We are listing out some of the best digital marketing strategies, which can help you choose the right method and optimize your plan for the best results.
1. Affiliate marketing
Affiliate marketing is a digital marketing approach in which businesses or merchants voluntarily do the marketing for other businesses/merchants. But you must be wondering why a business market for you? Well, even though a business voluntarily agrees to market for you, you have to pay some incentives in the form of commission.
Let’s take an example of a company XYZ who wants to do affiliate marketing as their digital marketing strategy on another company, ABC’s website. ABC company will paste a link of the website of XYZ on its website in the form of ads or popups. When a customer who is visiting the site of ABC clicks on the link of the site of XYZ and makes a purchase there, then some percentage of that sale amount will be given by XYZ to ABC as commission. So here, both XYZ and ABC are getting benefits. ABC is earning commission, and XYZ is increasing its sales amount. The prime examples of affiliate marketing are Amazon, eBay, etc.
2. Social media
According to a study by Datareportal, there are currently 4.55 billion social media users around the world, approximately 58% of the global population. This platform has seen rapid growth over the past few years due to its usage. Through a digital marketing approach, many companies are already marketing their products on this platform. Companies or brands either build their account with hundreds and thousands of followers, like Nike or hire social media influencers with a vast reach to thousands of users worldwide to market their products.
The advantage of social media is that one can make their product known to many people without any geographical constraints. This makes marketing per customer very low and the digital marketing strategy very effective. Infant businesses can also paste their link to the website on social media posts, where direct sales can occur. Again, this method is of great help to companies as their profit margin increases vastly.
3. Search Engine Optimization (SEO)
Search engines, being one of the best online marketing strategies, such as Google, Yahoo, etc., are the stairway to unlimited access to the internet. Any website, product, or company can be readily available by typing a few keywords in the search engine. However, if a business has many competitors, then the likelihood of that company’s site appearing in the top spots is very low. Also, customers do not have a lot of time and will usually click on the top sites available for any search. So, to increase their sales chances, businesses need to have their websites appear at the top of any search engine. This can be done by SEO.
In this digital marketing technique, a business conducts many activities keeping in mind a particular search engine to make their website appear on the top. This gives them more traffic to their site and consistently more sales.
4. Email marketing
Emails, even though they may seem obsolete, are still very effective. Even today, major companies use this email marketing strategy to increase their visibility. But what are the advantages of this online marketing strategy? By using email blasts, you can reach the maximum number of people quickly and cheaply. Emails are a straightforward way of communicating with your customers, so you should provide content that engages your target customers.
Also, emails effectively convey your message and future offers and incentives to the customers. Again, this digital marketing tactic helps you bring down the effective marketing cost per customer, as it is economically viable and reaches out to a wide range of customers. So don’t miss out on this digital marketing strategy, no matter how obsolete it may seem.
5. Latest content
A company’s website is the face of it, so it is crucial to keep your website updated with the latest news of your company and the latest offers, products, and services offered by your company. A website must be creatively made such that it is effective in transmitting its message clearly and effectively. Also, keeping a website updated makes it free of bugs and prevents it from crashing or hanging. Remember, your website makes the first impression of your company to the customer on a digital platform, and it is an integrated digital marketing approach to make a lasting and impressive first impression. So keep your website updated and creative.
6. Data analysis
This is a very important step in digital marketing and also helps in planning out the digital marketing strategy in an effective way. This step is nothing but analyzing how our potential customers behave, which sites they prefer, which products similar to ours they prefer, and their feedback on our products/services. The first step for this is to obtain a potential customer database. This can be done by analyzing the users who visit our website or the websites of our rivals. Then analyze the kind of products most of them buy or search for and the feedback received by users.
Also, analyze the percentage of conversion of leads to customers. Various database companies can provide the above analysis to you. This analysis is crucial as we now know what the customer wants, the potential customer, and how to improve our digital marketing to increase the business reach further. It also showcases our drawbacks and the improvement we need to bring to our products/services. Hence, intelligent investment in a data analysis company will be a fruitful digital marketing approach, provided the business uses this behavior analysis of the customers.
7. Campaigns for marketing
Campaigns have been in the marketing world for a long time, whether offline or online. But due to the digital boom, now campaigns have a worldwide reach, which makes it the most fitting online marketing strategy. Earlier, only big companies like Nike car afford to start a global campaign, like ‘Just Do It’. But due to social media and digital access to many people, even small companies can have their campaign and use it to their benefit.
Campaigns can be worldwide or regional. Another example of this digital marketing approach of a regional campaign is the Indian Cola giant Thumbs Up, which started the campaign or tagline of ‘Yeh Dil Maange More’, which translates to ‘This heart wants more. Today in India, this tagline has become synonymous with the brand and has greatly benefited the cola company. But having a great campaign can significantly benefit one company as it builds a brand image and trust among customers, so having a good campaign manager can substantially help you.
8. Use of incentives and rewards
Incentives or rewards are a great way to improve your business model and credibility. They also motivate the user to encourage other people to use your product/service and promote your product/service via word-of-mouth marketing. Also, incentives keep your customers loyal to your business. One example of incentive is Google Pay, which gives its users rewards in cash to incentivize more usage. These incentives in the form of cashback make the customer stay loyal to you and help in promotion.
Another popular digital marketing strategy is giving online discounts on certain days to increase sales volume. Many online retail stores apply these digital marketing tactics. Flipkart and Amazon both offer heavy discounts on certain days every year, and the sales volume for these online retail companies skyrocket. Hence, giving discounts, incentives, and rewards greatly improves your sales.
Exclusivity is a marketing strategy in which the brand or company makes a product seem exclusive to customers by making it scarce purposely. Because of the scarcity of the product, customers have a feeling of exclusivity when they buy it. One very common example of this digital marketing strategy is Nike’s Air Jordans. These sneakers were branded as limited edition, and exclusive hence were priced higher than other sneakers. Another example of this marketing strategy is Cadbury Dairy Milk Silk, a bar of chocolate branded as exclusive chocolate. However, this digital marketing tactic works for those companies who have already established a brand and can convince customers to buy their exclusive products at a higher price.
- Applying affiliate marketing can help improve your sales. In this digital marketing approach, brands or companies help each other by posting other brands’ links on their website. Whenever a customer visits that website and makes a purchase, the advertised brand pays a specific commission to the advertising brand. Many big online retail companies like Amazon, eBay, etc., are following this template.
- Use social media to boost your sales. More than half of the world population is using social media. This can be one of the best digital marketing strategies; you can create your own social media page or hire influencers to market for you. Social media provides a wide range of customers in every corner of the world. Social media marketing has made it possible to market globally at a meagre price. Some prominent social media platforms are Instagram, Facebook, Twitter, Youtube etc.
- Implement Searching engine optimisation to enhance your visibility on the search engines. By doing this, the chances of a customer visiting your website will increase and consequently, your sale will increase. The most prominent search engines are Google and Yahoo, and investing in SEO in these platforms will speed up your sales quickly and prove to be among the top digital marketing approaches.
- The use of emails to market is one of the best online marketing strategies to enhance your digital marketing. Emails can be sent in bulk and cheaply. They also give the users information about your brand’s latest offers and products. Many users also reply to emails, thereby opening a line of communication. Hence, using email blasts is a great way to educate and make the user aware of the developments in your company.
- Keep your website updated with the latest content. This makes the user believe that your company is a reputable one and trustworthy. Also, the customer can know all the latest updates about new products or discounts, and offers can be understood by the customer. By constantly updating your website, you also get rid of all bugs on the site, and the site runs smoothly, again making an excellent first impression and an excellent digital marketing tactic.
- Data analysis is an essential step in digital marketing as it helps you plan your further digital marketing strategies. By data analysis, you get the idea of your customer base and their spending capacity, likes and dislikes. This is a tremendous head start, as all your future marketing strategies will depend on this information. Hence invest in good data analysis software to improve your digital marketing.
- Exclusivity is another digital marketing approach applied by many big MNCs. Here, a product is purposely made scarce by a company and marketed so that when customers buy it, they get a feel of exclusivity. However, it is crucial to develop into an established brand before making your products exclusive, and only a branded company can generate trust among people.
- Give offers, discounts and incentives. Many big online retail stores give heavy discounts and incentives like cash back and no-cost EMI on certain days to attract customers. This digital marketing strategy certainly pays off as customers always appreciate discounts or rewards.
Digital marketing is a crucial aspect of every business today because it’s one of the most valuable ways to tap into your target market and make people aware of your business. So, choosing the right digital marketing tactics on how you will approach digital marketing for your business is very important. The right digital marketing strategy can help you optimize how you interact with your customers and also help you understand what your customer needs by analyzing their data patterns. These digital marketing Approaches can help you tap into the vast ocean of people who can benefit from your business and take your business to new heights altogether.
As mentioned in the article above, more than six billion people have access to smartphones, approximately 90% of the global population; and about 4.5 billion people use various social media platforms. This vast pool of users allows businesses to market to a bulk of people anywhere on the planet. This number of smartphone and social media users will only continue to rise. Hence, digital marketing is indeed the future of marketing.
As mentioned above, the vast number of smartphone and social media users gives businesses a huge advantage to market anywhere in the world to limitless customers. Also, due to the COVID-19 pandemic, the world is now even more dependent on technology. Hence investing in digital marketing through online marketing strategies is worthwhile in 2021 and the future.
As the world is recovering from a pandemic and our lives are even more dependent on technology and smartphones, virtually everything will be trending in the digital marketing world in 2021. Video marketing is one trend that is trending quite a lot in digital marketing as it is easy, convenient and can reach any person anywhere in the world. Also, it surpasses the conventional marketing reach.
2021 marketing is all about using the technology to your advantage. The pandemic has forced us to be closer to technology, and this technology gives us the platform to enable digital marketing, which will enhance our growth.
Yes, SEO is indeed an excellent online marketing strategy. By enabling this strategy, your visibility will improve manifolds, and the traffic on your website will also increase. This will directly lead to an increase in sales. Search engines are widely used, and there are an endless number of websites and competitors on them. Hence, applying SEO and making sure your website appears on the top of any webpage gives your business a massive boost.
Digital marketing is now the new norm in the marketing space. Conventional marketing has become obsolete, and more recent marketing methods are replacing it. These new digital marketing techniques require creativity as they are broadcast to a wide range of people all over the globe. They implement various creative methods mentioned above in the article like video content, social media influencing, data analysis tools, campaign managers, etc. Hence digital marketing is indeed a creative career where you require a correct blend of marketing insight and creativity.
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