What is Digital Marketing?
To understand Digital marketing, let’s try and understand what is “Marketing”. Marketing is a broader term inclusive of activities including on promotion, advertisement and all aspects of sales.
Because of gradual changes in technology, everything around us has changed (for good). As a result, businesses, as well as day to day scenario of how products/services are marketed, has completely changed.
Today, every aspect of marketing includes A Digital Platform powered by the internet. Be it email, social media promotion or search engine marketing.
We are dependent on our digital devices (fuelled by internet) to help us market our products/services effectively.
The simplest definition of what is digital marketing is, it is a new form of marketing which is driven by marketing and powered by electronic media based devices (digital) on internet is digital marketing.
My Teething Troubles with Digital Marketing
Initially, when the big clunky piece of machine which suddenly become a part of your desk a few years back, we cringed. Our good old pen and paper were replaced.
We were confused and afraid that this small TV screen attached to what they refer to as keyboard will make us lose our jobs and we started opposing it.
The biggest opposition was from political groups like CPI and CPM (those were the time when the reds blamed everything which had “automation” written next to it. I don’t blame them. Our ideologies have never been the same 😊 )
Till a year ago, digital marketing was also sailing in the same boat.
We were busy making cold calls, advertising in yellow pages, TV, Newspapers and then one fine day, a young lad with unkempt hair, loose T-shirt and jeans hanging nowhere around the waistline walks into our office.
The boss introduces him as “Digital marketer”. I along with my colleagues with little or no knowledge of Digital marketing got wary of the new kid.
We had no clue about Digital marketing and this kid was talking things like SEO, SMO, Email Marketing.
Our lives were going to change for good.
Impact of Digital Marketing on Marketing:
Every marketer today is taking help of digital marketing tools to promote their products or services.
The impact has been visible in the new verticals of businesses formed because of Digital marking.
Today, the business world has started introducing positions in “Digital Marketing” for their organizations.
Something, I find difficult to fathom (I am old school and have always relied on old conventional methods of marketing).
But when I realized, the world of marketing is changing. I jumped on the bandwagon and joined the new breed of internet marketers who live & breathe Digital marketing.
If someone as old school as me is willing to come out of my comfort zone and learn the functioning of this new talk of the town, I can write with my eyes blindfolded “Digital marketing has arrived”.
Impact of Digital Marketing on Marketing on Businesses:
Business models have been changed because of this growing trend.
For example, every telecom service provider today talks about data. Earlier the only language they spoke was “talk time”. The paradigm shift from “talk time” to “data” did not happen overnight.
It is the usage of internet which has made the businesses stand up and take notice. (did you know the number of internet users today amount to almost 51% of world’s population?).
To reach these users, you require forms of marketing which can tap the population on internet.
Internet my friends is tapped by something called as digital marketing.
As such, there is no difference between digital marketing and online marketing (as they say, don’t go into the technicalities of the words, always run after the gist).
Digital Marketing in India
Source: Internet Live Stats, Social Beat, The Boston Consulting Group, Octane Research
So what makes Digital Marketing such a popular topic. Why is it everyone is talking about digital marketing?
Here is my sincere attempt to list the benefits of Digital marketing:
Digital Marketing helps us reach the end user or target segment through campaigns which are tailor-made.
It is the only form of marketing where campaigns can be drilled down to the last level of segregation of target audience.
For ex, you can run PPC campaigns based on age, gender, area, interest and then spend your money wisely.
This Correct information or data is quite helpful to grow a business.
You can always use it as a productive marketing tool to spend your money wisely.
Cost effective medium of advertising:
There is a saying “Every penny saved is a penny earned”.
This theory aptly applies to digital marketing.
It’s a cost-effective medium of advertising where Result oriented budgeted campaign is set up to reach the target audience.
Most important aspect of running a Marketing Campaign is flexibility. Advertisement and marketing campaigns are unpredictable.
What works today might not work tomorrow but can we stop the campaign mid-way and fine tune it to re-run with more effectiveness?
That’s something traditional methods of marketing cannot do because they are bulky. They run on old-fashioned methods where once the horse is out of stable, it does not stop until and unless it has crossed the finish line.
Digital marketing by virtue of being on internet allows us the Flexibility in selection of tools, content, timings to approach target customers, target oriented etc even after publishing the Advertisement.
All these aspects are next to impossible in other media like print, Outdoor advertising etc.
It gets you Higher ROI (Return on Investment), which means fewer expenses and high earning in the form of leads, sales, brand promotion or any of the end goal you had in mind before starting a campaign.
We recently ran a campaign which costs us USD 200 and got us an ample number of leads. Since I am from the old school marketing era, I can write with confidence the same method would have cost me a bomb on any of our old conventional methods of marketing.
Also, the rate of conversions is high in digital or online marketing.
From the customer point of view, a customer gets all details variations and info about the products online as he/she is looking for it.
Digital marketing provides you economical tools and methods to get higher ROI.
Furthermore, the results are easy to understand and measurable in digital marketing.
You have reports which give you perfect insights into where the end customer dropped or converted.
With the help of different tools like google analytics, you can find the smallest of detail about your customer and design a strategy accordingly.
Wider reach and power to Compete with Global Brands:
Digital marketing helps you compete with the Global Brands who have wide pockets when it comes to promoting on conventional methods but on internet, they are competing with you. There are very high chances your viral content can beat them in the game of marketing.
The concept is simple, Digital marketing brings a bad full of information to your end customer in the form of market development, trends, creations, taste of the customers etc.
If your content is better than your competitor, you can strategically convert the prospective customer to a paying client.
Trust me, brands do get an upper hand because of their offline marketing push but new brands do get a look from clients if they are able to produce viral content.
And Digital marketing gives you a wider reach to reach end user as soon as possible.
I earlier thought the advent of Technology is making human life complex. But with time, I realized I am panicking.
The simplest and easiest way to handle this complexity is to change yourself with the time.
I am a learning digital marketing today. And the more I learn, the better I understand “how the latest development in technology is for our good”.
Digital Marketing is one of the simplest and easiest methods to handle the complexity of the business.
Benefits, Importance, Merits, Advantages, and Significance of Digital Marketing has more or less same meaning and moreover compliment each other. It defines perspectives of digital marketing in our personal as well as professional life.