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Digital Marketing Zero-to-Hero

Digital Marketing Fundamentals - An Overview of "What is Digital Marketing?"

We are living in a world where we are mostly surrounded by digital technology. People spend a significant portion of their time, approximately around 40% of their waking hours, on screens (almost 8 hours a day). We are almost surrounded digitally today, and here comes the beauty of expanding brands with this significant amount of time people spend on screen. And here, the revolutionized way of marketing a product gets success in the business.

In this series and upcoming blogs, we are going to discuss the fundamentals of the digital marketing world from the basics. We will be taking a deeper look at why things are important. In the upcoming series, we will be learning some tools and techniques to grow your brands and business to success.

🔵What is digital marketing?

Marketing products and services to consumers with the help of digital channels is called digital marketing. This type of marketing uses channels such as websites, socialmedia, mobile apps and similar ones. With the rise of the internet in the 1990s, it became much more popular when personal computers gained popularity and digital marketing started with email campaigns.

🔵The need for digital marketing

Today, customers are not standing in front of a shop or mall with a banner of 50% SALE. Todays customers are laying on beds, actively looking at their screens most of the time. Digital marketing helps target customers easily by

Changing consumer behavior: As consumers can easily turn to online sources for information about products and purchases,.
Cost-effective: There is no need to burn the money to pile up the stock, raise hoardings and banners, or blow up the speakers to market, as traditional markets do.
Targeted marketing is targeted at specific consumers based on the products or services.
Data-driven Decisions: It allows precise targeting, which helps out in expansion of the product and services more easily with data-driven decisions.
Real-time Engagement: Businesses and brands can easily connect and engage with their audience in real-time and have better customer relations.

🔵Importance of Digital Marketing

Digital marketing has the golden significance of better reaching out to a vast variety of customers seeking exact products and services, which improves sales. It is helpful in connecting with mobile consumers, as most customers are online, with the advantage of tracking and taking appropriate actions.

Digital marketing has the capability to allow small-scale enterprises and businesses to increase their brand awareness and compete with large-scale enterprises in targeting ideal customers. It upholds the brand's reputation and gives it a lead over competitors. It can take businesses on an international platform and is highly affordable with a good return on investment. Digital marketing is faster and more cost-effective.

🔵Myths about Digital Marketing

There are lots of misconceptions around marketing digitally, such as that digital marketing is only for big companies. It doesn’t need to be a priority because you need a lot of content regardless of quality, and there is too broad an audience online to market effectively.

But the fact is, all businesses can use digital marketing, irrespective of their size. And in today's world, digital marketing is a critical component in helping your business grow. Good-quality content can help you yield better results than more and more low-quality content, and with digital marketing, you can precisely target people who will be interested in your product or service.

🔵Benefits of Digital Marketing

Whether you have a small, midsize, or large business, the benefits are similar for all types of businesses. Let’s see some of the benefits you will have if you choose the digital medium for marketing your products and services.

When you are a small business, it will be:

Cost-Effective
Targeted Reach
Quick Results
Data-Driven Insights
Enhanced Visibility

Once you reach a mid-level position in your business with better gains, digital marketing will be helpful in:

Scalability
Brand Building
Competitive Advantage
Customer Engagement
Lead Generation

And after establishing a well-known brand, it can be beneficial for:

Global Reach
Data Utilization
Multi-Channel Campaigns
Customer Retention
Innovation (using AI)

Well, all the benefits are for all types of businesses; its just the use case for how you can use it effectively.

🔵How does digital marketing work?

Before knowing how digital marketing works, let’s see how marketing works because digital marketing is none other than just marketing in the digital world.

Marketing is the activity that a company uses to promote its products and services and to improve its market share. And to be successful, it requires a combination of advertisement savvy, sales, and the ability to deliver goods to end-users. Professionals known as marketers take on these tasks internally at companies or externally at marketing firms.
These operations are performed for the target audience online on the internet and on digital screens with the help of advanced marketing tools, which we are going to learn about soon in future series.

Digital Marketing follows the same pattern of implementation, with various steps in repetition

🔷Holistic Research

➡️Strategizing

➡️Presenting Plans

➡️Launching Campaigns

➡️Campaign Management

➡️ Results and repeat with updated research

🔵5D's, 4P's, and 4C's of Digital Marketing

To simplify digital marketing, keep in mind these PCDs in digital marketing, which are frameworks of digital marketing. These PCDs you have to keep in mind before juggling in the digital market are:

4P's: product, price, place, and promotion.

4C's: customer, cost, convenience, and communication.

5D's: digital devices, digital platforms, digital media, digital data, and digital technology.

🔷4Ps:

🔹Product: The product represents the goods or services you offer; you need to ensure that your product is well-defined and meets the needs and preferences of your target audience.

🔹Price: how much your products or services cost in the online marketplace, which includes setting competitive prices, offering discounts or promotions, and determining the overall value for your customers.

🔹Place: Focus on the distribution channels and platforms you use to reach your audience. Selecting the right online platforms, websites, and social media channels to promote and sell your products or services.

🔹Promotion: tactics and strategies you use to promote products or services to your target audience. Various digital marketing channels, such as social media marketing, email marketing, content marketing, and more.

🔷4Cs

🔹Customer: Targeting customers based on their pain points and fulfilling their needs and wants is necessary for a successful marketing strategy.

🔹Cost: Getting into the buyer's shoes will let you decide the appropriate price for your product or service to sell. This includes the overall cost of building your product or service.

🔹Convenience: making it easy for customers to purchase your product or services.

🔹Communication: Effective customer interaction through different channels to provide support and assistance will be helpful in building a strong connection with your target audience.

🔷5Ds

🔹Digital Service: variety of devices that consumers use to access digital content, including smartphones, laptops, desktop computers, and even smart TVs.

🔹Digital Platform: This encompasses the online platforms and channels where digital marketing efforts take place. This includes websites, social media networks (e.g., Facebook, Twitter, and Instagram), search engines (e.g., Google), email marketing, mobile apps, and more.

🔹Digital Media: Various forms of digital content and advertising are used to engage with the audience. This includes display ads, video ads, social media posts, blog articles, infographics, and more.

🔹Digital Data: In the digital realm, data is king. Marketers collect and analyze data to gain insights into consumer behavior, preferences, and demographics.

🔹Digital Technology: Technology is at the core of digital marketing. This includes tools, software, and platforms used for campaign management, analytics, automation, and more.

🔵Digital Transformation in Marketing

Digital transformation is not just a buzzword but a strategic imperative. Digital transformation is the integration of digital technologies into all aspects of your business, fundamentally changing its operation and deliverable value to customers. It is a profound way of business connecting with their audience for product or service promotion.

There are 5 significant aspects of digital transformation, which are:

Enhanced Customer Experience: By placing customers at center of business operations and leveraging data and digital technologies, organisations can gain better insights into customer behaviour.
Operational Efficiency: Streamlining internal processes and workflow with the use of automation, AI, and data analytics optimizes tasks, reduces man-hours, and further enhances productivity.
Data-Driven Decision Making: Data enables organizations to make informed decisions by collecting, analyzing, and interpreting it. Businesses can identify trends, spot new opportunities, and address challenges properly.
Agility and Adaptability: Agility is a competitive advantage, and digital transformation equips companies with tools and strategies to adapt to market shifts, customer demands, and emerging technologies with innovation and responsiveness.
Global Reach: Through online channels and e-commerce platforms, businesses can expand their reach to global market, opening up new opportunities for growth and diversification.

There are 7 critical digital transformation drivers:

New Business Models
Superior Customer Experience
Modernized IT Infrastructure
Operational Efficiency
Optimized Employee Skillset
External Partner Collaboration
Data-driven decision-making

🔵Digital Marketing Strategy

A comprehensive plan that will leverage the digital channels, platforms, and technologies of an organisation to achieve their marketing and business objectives. It is a structured approach to reach and engage with target audience, driving website traffic, generating leads, and converting into new customers.

6 steps to a good digital marketing strategy:

Defining the objective
Identifying target audience
Choosing digital channels
Develop content strategy
Setting up budget
Tracking and measuring success

Tips for a successful digital marketing strategy.

Start by defining specific, measurable goals for digital marketing efforts.
Conduct research to understand the demographics, preferences, and behaviors of the target audience.
Identify most relevant digital marketing channel based on research to target and reach specific audience
Develop high-quality, relevant and valuable content that resonates with audience.
Implement analytics tools to track the performance of campaigns, KPIs, traffic, conversions, CTRs, and engagement, and regularly analyze data to identify trends, successes, and areas for improvement.

This was just a little overview of the fundamentals, further in this series we are going to dig deep into the knowledge of digital marketing. And also we will talk about the digital marketing in India.

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Last Updated: Aug 20, 2024