Why companies need to focus on Digital Marketing
In this globalised and liberalised world economy, it is very difficult to keep off the name of ‘internet’, ’on-line’, ’digital’ and ‘dot com’ from a business. Almost every aspect of the process has been transcended to online. That was the day when we used to buy an FMCG (Fast Moving Consumer Goods) product from the retail outlet or nodal branch or offline stores. But nowadays, from consumer durables to electronics and from apparels to health care products and services, we can get easily without any hassle.
In the previous days, companies used to promote its brand, goods and services over various traditional media especially referral marketing (word of mouth). Those kinds of promotional and advertisement pedagogies were not cost effective and time-consuming. Companies were able to generate revenue from the old promotional methodologies. Reaching out to the right demographic profile (audiences) was almost less feasible at that time. But after the “.com” revolution everything was changed forever. Digital magic water sprinkled everywhere!
Digital marketing is now the in the different limb of any organisation or company. Before explaining “how it helps”, we need to define and understand what is the actual significance of digital marketing?
Different channels of digital marketing
Promotion and positioning of individual, brand, products and services using online channel- is called ‘Digital marketing’. It consists of the following categories; such as:
- SMM (Social Media Marketing)
- E-mail marketing and retention
- SEO link building
- PPC (Pay Per Click) marketing
- On-line/web presence
Mobile commerce, improved data processing and the internet have revolutionized the trade. Now customers have been empowered. They can share information with anyone with the help of electronic devices at one finger click. Their preferences for services, products and brand are changing day by day. As per this changing scenarios, companies are now becoming much more competitive and agile than before. Changing economic policies and global political agendas are also coming to the downstream to affect the entire corporate operations. As per the IDC, Kantar IMRB & Moody’s analytics statistics, India is one of the 2nd largest internet user base (450 million- 40% of the entire population) across the world immediately after China (650 million-48% of the entire population) with growing demand of E-commerce businesses and start-ups.
Benefits of Digital Marketing
By using Social Media marketing tools companies can now better target the appropriate demographic audiences over the internet. Once they pitch any product or services over social media, then it is boosted to different regions of the world with affordable prices. With the help of analytics tools companies are now better measuring the ROI (Return On Investment), engagement, Click Through Rate (CTR) and impressions generated from the ad campaign (display and social campaigns). At the end of the campaign, you can work on the presentation of data and analysis by means of various software such as power point and Prezi.
Now remote areas and urban areas people both can better target by any company to better reach their services. The livelihood of all citizens is becoming better due to the introduction of e-commerce or e-retail business. E-commerce and mobile digital wallet are the best examples of the digital marketing application. Website planning and website building are becoming trending to show off what you have. Blogs, content (audio, video and image), reputation management (brand recognition and brand protection), AI-based soft wares (like Google bot and auto bot smart assistant) to improve user experiences.
With the help of less or high competitive keywords, the search engine ranking of different companies is improving their search results which improve not only the chances of getting engaged with their customers but also enhances the better productivity. Google webmaster and analytical tools are having a great importance which can’t be deniable.
Digital Marketing and Artificial Intelligence – Conclusion
With the growing use Internet and recent advancements, AI has gained popularity and are the first choice for large companies. This is very much seen and applicable to digital marketing too!
Recent accomplishments of AI are
- Google DeepMind’s AI software AlphaGo bested world Go champion Lee Sedol. More recently, AlphaGo won against Ke Jie, widely considered to be the number-one ranked player in the world.
- At Tufts University, scientists and biologists reportedly programmed an AI that’s capable of developing a new scientific theory and discovered how the regeneration process of the flatworm works.
- IBM Watson defeated humans on Jeopardy
And AI is providing real business breakthroughs.
- Facebook is using deep learning, graph analysis and indexing to analyze, classify and serve up its users’ billions of photos via Photo Search.
- Google Search is using AI to learn and provide users with much better results. These can vary from person to person depending on their search history and internet activity.
- Amazon uses AI to predict product demand, power search rankings, detect fraud and much more.
By considering these points it wouldn’t be wrong to say that in future big data and AI will go hand in hand or will be counterparts of each other. There is a on-going battle between the companies to get hold of more and more data to provide them more information about the users.
Acquisition channels such as Search funnel, Social funnel, E-mail and PPC funnel are playinga vital role in getting user’s retentions and improve the conversion rate. Digital marketing helps in building end to end customer relationship with real time solution. Blogs are such type of section which familiarises the users about the type, nature ofthe business and what actually they do.
Everybody in this world wants to see any type of business/company over the internet or online. Customer life cycle has been changed from traditional media to online. Now customers can search products online and buy it from different retail outlet stores. Therefore, the digital marketing does not only comprise of online techniques rather the mix of all media channels such as mass media, online and offline modes. Without the integration of these 3 channels ,it is very hard to achieve success in this aggressive market where innovations are happening with high acceleration.