In 2012, 67% of marketers were not using digital platforms, according to a survey by SmartInsights. It is quite encouraging to see that this percentage dropped to only 44% in 2016. This demonstrates that marketers are becoming more aware of the relevance of digital marketing and are taking measures to capitalize on the enormous potential it has.
On the other hand, the unfortunate reality is that the vast majority of these digital enterprises advertise without a plan. According to the survey, just 35% of digital marketers have incorporated a digital marketing plan into their entire marketing strategy. Another 18% have digital marketing plans, but these strategies do not form a part of the broader marketing strategy; rather, they operate independently. The remaining 47% have absolutely nothing in place for their digital marketing plan.
What is digital marketing?
The term "digital marketing," which is synonymous with "online marketing," describes all of the marketing operations on the internet. When it comes to connecting with existing consumers and those who may become customers in the future, businesses use digital channels such as search engines, social media, email, and other websites. This also covers communication done via text messaging or other multimedia.
There are subtle distinctions between inbound marketing and digital marketing, even though an experienced inbound marketer would declare that the two are nearly identical. And via talks with company owners and marketers in the United States, the United Kingdom, Asia, Australia, and New Zealand, I've learnt a lot about how those seemingly little distinctions are being recognized in different parts of the globe.
How does a business define digital marketing?
At this point, digital marketing is very necessary for the success of both your company and your brand. It would seem that every other company has its website. And even if they don't, they at least have a presence on social media or some digital advertising approach. Customers have come to anticipate and depend on digital information and marketing to be informed about businesses since it has become so widespread. You are free to exercise your imagination and try out a wide range of marketing ideas while staying within your financial means, thanks to the various alternatives and approaches linked with digital marketing.
The term "digital marketing" refers to using a wide variety of digital strategies and channels to engage with clients where they spend the majority of their time, namely online. The most effective digital marketers have a crystal clear image of how each digital marketing campaign contributes to the larger objectives they have set for themselves. Additionally, depending on the marketing plan's objectives, marketers can support a broader campaign by using both the free and paid channels at their disposal.
Why is it vital to promote through digital marketing?
You can target customers who are more likely to purchase your product or service with digital marketing, which allows you to reach a broader audience than you might with conventional advertising approaches. In addition to this, it is often more cost-effective than conventional forms of promotion, and it allows you to assess your progress daily and adjust your strategy accordingly.
The following are some of the most significant advantages of using digital marketing:
1. You can direct your efforts only at the potential customers who are the most likely to purchase your goods or service.
2. Compared to other outbound marketing approaches, it has a lower cost per customer.
3. Competing with larger businesses is much easier to do with the help of digital marketing, which levels the playing field within your sector.
4. The effectiveness of digital marketing can be measured.
5. It is much simpler to make adjustments and modifications to a digital marketing approach.
6. Using digital marketing may boost the conversion rate of your website and the quality of the leads you get.
7. Digital marketing enables you to engage people at every step of the process.
Important Digital marketing strategy:
A digital marketing plan may be beneficial in many different ways, including the following:
• A plan will point you on the right route.
Many businesses that do not use digital marketing strategies have not articulated strategic objectives. Because of this, it is difficult to provide enough resources to particular marketing efforts, and it is much more difficult to assess, via analytics, whether you are meeting your goals
• You will have a better understanding of your market share due to using it.
It makes no difference whether you have a certificate or degree in digital marketing. If you do not have a well-defined plan, there is a good chance that you will underestimate the demand for your digital services. In addition, it is quite possible that you will not have a complete understanding of the dynamics of the online marketplace, such as the behaviours of customers, the profiles of rivals, and the types of customers.
• It assists you in the formulation of an efficient value proposal
The internet industry is home to a lot of fierce competition. To be successful, you need to separate yourself from others and take a commanding position amid the competition. You won't be successful in this endeavour without a digital marketing plan that has been well considered.
• You'll have a deeper appreciation for your patrons as a result.
To understand your digital consumers, you need to go beyond traditional analytics. It would be best if you used additional kinds of website feedback tools to locate and address your areas of improvement.
• Stay away from unnecessary duplication, which wastes both time and resources.
When attempting to do comparable marketing duties, it is not uncommon for various divisions within a marketing department to acquire unique marketing tools or work with unique marketing firms. Using an efficient digital marketing approach will allow you to avoid duplicating time-consuming and expensive tasks.
• Steer clear of the dangers associated with disintegration.
A tragedy that is just waiting to happen is marketing carried out in compartments, such as when the digital marketer works in the information technology department. Integration of digital marketing with more conventional forms of media and response channels results in the greatest productivity gains.
Reasons why you may need a digital marketing strategy?
If you can't persuade yourself or your coworkers to invest, then your company's future is in peril. Thus it's crucial to be able to make the business case for investing more in digital marketing. If you can't do this, your company's future is in jeopardy. It's not complicated; you won't be able to remain competitive and attract new clients in the future.
Incredibly, I first proposed these ten reasons to invest in digital marketing twenty years ago; yet, they continue to be relevant, and as a result, I have continued to evolve techniques to produce digital strategies that are in line with the most recent developments in digital marketing.
1. You're directionless
My research has shown that businesses that do not have a digital strategy and many that do not have a clear strategic goal for what they want to achieve online to gain new customers or build deeper relationships with existing ones. This is true even for many businesses that do have a digital strategy.
And suppose you don't have goals with SMART digital marketing objectives. In that case, you probably won't spend enough resources toward reaching those goals, and you won't analyze via analytics whether or not you're succeeding in reaching those goals.
2. You won't be able to determine the size of your internet audience or your market share
If you haven't done the necessary study on this topic, you can underestimate the demand from customers for online services. It's possible that, more significantly, you won't have an understanding of your internet market. The dynamics will be different from conventional channels, with various kinds of customers, their behaviors and profiles, competitors, proposals, and possibilities for marketing communications.
Included in our templates is a guide and template for developing client personas, which will assist you in creating personas that are more realistic and thorough and map messaging and content needs across the customer journey.
3. Competitors, both established and newcomers will increase their market share by perfecting their always-on marketing strategies.
Your rivals will eat your digital lunch if you do not allocate enough resources to digital or if you take an ad-hoc strategy that does not have well-defined strategies. As customers conduct product research and selection activities online, these are essential for ensuring continued exposure and supporting conversion and customer retention.
4. You do not have a compelling value proposition shown on your website.
When taking a strategic approach to digital marketing, it is useful to think about how digital experiences might boost the attractiveness of your brand. This can be done as part of defining the scope of the opportunity. Improving online services, interactive technologies, and digital audience engagements are necessary steps to achieve this goal of better customer service.
You may distinguish your online service by developing a well defined digital value proposition targeted to your various target customer personas. This will encourage both your current and new consumers to interact with your service initially and remain loyal to your brand.
5. You don't have a good enough understanding of your internet consumers
It is sometimes said that digital is the "most quantifiable media ever." However, Google Analytics and other services of a similar kind will only provide you with information on the number of visits, not the attitude of visitors or what they think. You need to identify your areas of weakness by using methods for user feedback on your website and other types of research, and then you need to work to improve those areas.
6. You are not integrated into society
It is much too usual for digital operations to be carried out in isolation, whether by a specialized digital marketer working in IT or by a separate digital agency. It is simpler to bundle 'digital' into a manageable portion when done in this manner. However, the effectiveness is reduced. It is generally agreed upon that conventional media and response channels provide the greatest results when combined with digital media.
Because of this, we strongly advise building an integrated plan for digital marketing so that your digital marketing may be as effective as possible for you. Once you have your integrated strategy in place, digital will become an integral component of your marketing activities and part of your everyday operations.
7. Despite the significance of digital, there are not enough personnel or funding allocated.
E-marketing strategy development and implementation will get an insufficient amount of resources. Because there is probably a shortage of certain professional e-marketing capabilities, it will be difficult to react to competitive threats effectively.
8. Because of your repeated efforts, you squandered both time and money.
Even if you do have enough resources, you still risk wasting them. This is especially true in bigger firms, when various areas of the marketing organization may buy separate products or use multiple agencies to do online marketing duties comparable to one another.
Because of this, you should invest in a marketing strategy that is effective for both you and your team so that you can plan, manage, and improve your digital channels and platforms. Get the marketing outcomes you need to fulfil your company goals while simultaneously increasing your marketing efforts' return on investment (ROI).
9. You lack the talent to either get up to speed or maintain your lead.
Look at the most successful online businesses, such as Amazon, Booking.com, Dell, Google, and Zappos. You'll see that they're all evolving and testing out new strategies to attract and retain their respective online audiences.
Our ninety-day RACE Growth system method will assist you in developing a procedure that is similar to this to enhance your performance.
10. You're not optimizing
Analytics is something that every business that has a website has to have. However, many top managers do not prioritize ensuring that their employees produce these plans or have the time necessary to evaluate them and put them into action. As soon as your digital channel strategy makes it possible for you to master the fundamentals, you will be able to move on to the next step, which is the ongoing enhancement of the most important facets, such as the development of your brand, the quality of the user experience on your website, and the cultivation of leads.
How to integrate digital into the overall marketing strategy
1. Obtain a better understanding of the role that marketing plays inside the firm.
2. Make a problem statement and decide what you want to achieve with your marketing.
3. Determine which of the available marketing avenues are the best to invest in.
4. Determine the primary goals for each of the marketing channels that were determined in step 4 above
5. Develop a coordinated workflow approach for all of your marketing endeavors.
6. Perform an in-depth analysis of the findings, reevaluate the situation, and either increase or redistribute the resources as required.
Organizations are increasingly on the lookout for top talent to assist them in meeting their digital objectives, partly because they are aware of how complicated the integration process can be. This helps explain, at least in part, why earning a degree in digital marketing is such a huge deal in the modern world. The need for graduates with expertise in digital marketing will continue to increase as many businesses recognize the significance of implementing a digital marketing strategy.