Digital marketing is a new and evolving way of marketing your company’s brand, products or services. Online marketing channels include display advertising, search engine advertising, mobile, search engine marketing, social media marketing, email marketing and lots more. However, digital marketing can also include SMS/ text marketing, outdoor digital display, banner advertising, digital point of sale display, etc. A company that offers digital strategy, planning and/or implementation can be referred to as a digital marketing company.
The opportunities created by new technologies have led to the growth of the new digital sector within marketing. When digital was just getting started, the various pieces of the digital puzzle would have been served up as stand-alone offerings. However, these days, digital marketing companies often offer all the services that you will require to put in place your entire digital strategy and implement it. The growth of digital marketing can be attributed to some of the unique benefits that it presents and the lower cost of entry associated with certain elements of digital marketing.
Here are 5 of the things that digital marketing does really well and often much better than other marketing channels.
1. Cost Online marketing is inexpensive in comparison to traditional channels such as TV, radio, print, outdoor, etc. Firstly, the economic barriers to entry are far less significant than is the case with traditional channels. Secondly, digital offers pricing structures that are not available offline, such as cost per click or cost per acquisition, both of which are associated with better control of investment and in many cases, better return.
2. Measurability Digital marketing is fully measurable. You can track your investment by using metrics such as views, clicks, time viewing, actions performed, conversions, etc. And you don’t have to wait around to see these results; one of the most attractive aspects of investing in digital marketing is that you can see results in almost real time, which helps you to know when to push harder and when to pull back.
3. Speed Companies can activate digital marketing campaigns in a matter of hours; giving them the opportunity to put in place offers or increase sales during times of low business. In most cases you will never have to deal or negotiate with 3rd party suppliers.
4. Targeting. In the majority of cases, digital marketing allows you to target by country, searches, social media preferences, people who have clicked on an advert before (cookie laws are changing) and now by use of geo location or smart phone targeting. This allows marketers to target their ideal audiences like never before and thus, minimize costs associated with customer acquisition, which means better margins and celebrations all around.
5. Ability to engage. No other medium has allowed for the level of engagement that digital marketing channels provide. Not alone can companies target audiences cheaply, quickly and measurably, they can also offer consumers an opportunity to engage with that company or brand. Since the rise of web 2.0 consumer have changed a one was communication into a two-way conversion.
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