Digital marketing, online marketing or internet advertising whatever you call it. Marketing your company online is a big deal these days. You know what internet usage has doubled over the past decade. This shift has massively affected how people purchase products and the internet with businesses.
So the question arises that what is digital marketing? Digital marketing is like any other type of marketing.
It is actually a way to connect with and influence your potential customers. The actual difference is that here you connect with and influence those customers online.
What is Digital Marketing?
Basically digital marketing refers to any online marketing efforts or assets. Email marketing, pay-per-click advertising, social media marketing, and even blogging all are great examples of digital marketing. They help introduce people to your company and convince them to buy.
Here are some of the most common digital marketing assets and strategies businesses which are used to reach people online:
Digital Marketing Assets
Almost anything can be a digital marketing asset. It simply needs to be a marketing tool you use online. Well, many people don’t realize how many digital marketing assets they have at their disposal.
Here are just a few examples:
1) Your website
2) Branded assets(logos, icons, and acronyms)
3) Video content(video ads and product demos)
4) Images(infographics, product shots, and company photos)
5) Written content(blog posts, eBooks, product descriptions and testimonials)
6) Online products or tools(SaaS calculators and interactive content)
8) Social Media pages
As you can probably imagine, this list just scratches the surface. Most assets will fall into one of these categories.
But nowadays clever marketers are constantly coming up with new ways to reach customers online so the list keeps growing!
Digital Marketing Strategies
The list of digital marketing strategies is also constantly evolving. But there are some of the strategies most businesses are using:
1) Pay-per-click Advertising
Pay-per-click Advertising is actually a broad term. It covers any type of digital marketing where you pay for every user who clicks on an ad.
Google AdWords is a form of pay-per-click advertising. This is also known as paid search advertising. Facebook Ads are another form of pay-per-click advertising. This is called paid social media advertising.
2) Paid Search Advertising
Google, Bing, and Yahoo all allow you to run text ads on their Search Engine Result Pages.
Paid search advertising is one of the best ways to target potential customers. They are actively searching for a product or service like yours.
You can also use SEO to try and rank pages or blog posts on your site organically. It is when you don’t want to pay to show up in the Search Engine Results Pages.
You don’t have to pay directly for every click but getting a page to rank usually takes quite a bit of time and effort.
4) Paid Social Media Advertising
Most social media platforms like Facebook, Instagram, Twitter, LinkedIn, Pinterest and Snapchat will allow you to run ads on their site.
Paid social media advertising is great for building awareness with audiences. They might not be aware that your business, product or service exists.
5) Social Media Marketing
Like SEO, social media marketing is a free and organic way to use social media platforms like Facebook or Twitter to market your business.
It is just like SEO. Organically marketing your business on social media takes a lot more time and effort. But actually, in the long run, it can deliver much cheaper results.
6) Conversion Rate Optimization(CRO)
Conversion Rate Optimization(CRO) is the art and science of improving your online user experience. Most of the time, businesses use CRO to get more conversions.
It includes leads, chats, calls and sales which is out of their existing website traffic.
7) Content Marketing
Content marketing is another fairly broad digital marketing term.
It covers any digital marketing effort that uses content assets. It includes blog posts, infographics, eBooks and videos to build brand awareness or drive clicks, leads or sales.
8) Native Advertising
Have you ever get to the bottom of an article and see a list of suggested articles? That is called native advertising.
Most native advertising falls under content marketing because it uses content to attract clicks. Often native advertising can be a bit hard to spot. It is usually mixed in with non-paid content recommendations.
9) Email Marketing
Email marketing is the oldest form of online marketing and it is still going strong.
Most digital marketers use email marketing to advertise special deals, highlight content. It is often as part of content marketing or promotes an event.
10) Affiliate Marketing
Affiliate marketing is essentially paying someone else. It can be a person or a business to promote your products and services on their website.
Therefore, there are a lot of different ways to market your business online. This is why many businesses hire an agency or in-house marketing team.
The agency is hired in order to manage their digital marketing efforts.
The in-house marketing team is hired to pay the marketing automation software to cover their marketing needs.
Does Digital Marketing really work?
Digital marketing is a great option for any business. It is used to help all kinds of businesses. It can be small shops or internationally recognized universities and companies.
That is the beauty of advertising online.
If you know who you want to target then you can use digital marketing to target anyone and anywhere.
However certain types of businesses will benefit more from certain types of digital advertising.
Let’s have a quick overview of this. Have a look at these strategies which tend to work best for business-to-customer companies and business-to-business companies.
1) Business-to-customer companies
Generally, Business-to-customer companies have much lower price points than their business-to-business counterparts. The good thing is these companies are not also trying to sell incredibly expensive products or services.
They actually don’t need big sales teams or complicated marketing funnels. All they have to do is get their products or services in front of the right audience with the right messaging.
The goal of Business-to-customers companies
The primary goal of these companies is to get people into and through their marketing funnel.
These companies often see great results from higher-funnel marketing channels. These include channels like social media marketing or paid social advertising.
The channels do a great job of getting your business in front of potential customers. They include the customers who might not otherwise know that you exist.
Supplementing with other digital marketing strategies SEO is always a good idea. Paid social advertising or social media marketing are great options for business-to-customer companies.
2) Business-to-business Companies
Paid search is great for these companies. Most business-to-business companies have very specific niche audiences. It can be very hard to target using social media.
These companies have a much longer and more involved sales cycle than business-to-customer companies.
Not every strategy is right for every business but with a little trial and error, you should be able to identify the most profitable approach for your company.
How to start Digital Marketing?
Starting Digital Marketing is quite easy. Most online advertising platforms make it easy to sign up and create your first campaign. The core of every successful digital marketing campaign.
Regardless of which strategies you choose to use, here are 4 questions that arise before you start digital marketing:
1) How much do you need to make?
You should first figure out what you need to spend on digital marketing.
First, clarify what your goals are. Your goals may be to drive clicks, conversions or leads, sales, revenue or a certain return-on-investment.
Clicks and even conversions are great goals. But your company doesn’t make money from clicks or conversions. It makes money from sales.
2) Who are you marketing to?
You need to identify who you are marketing to. It is a must to know how much money you want to make from digital marketing. Different buyer personas require different marketing tactics. More importantly, different buyer personas turn into different types of buyers.
3) What are your customers worth?
People look at buyer personas as a good way to craft an effective marketing strategy. Buyer personas are great for this marketing strategy. But they are also an important part of putting together an effective digital marketing plan.
In this situation, you are probably targeting 3 different buyer personas:
i) small business
ii) mid-market business
iii) enterprise business
4) How much do you need to spend to reach your goals?
At this point, things are pretty simple. Average purchase order value and an average number of purchases and plug them into this calculator.
This approach is not a perfect estimate of what it will take to hit your revenue goals. This calculator is only as accurate as of the information you can give it.
Digital marketing is the marketing of the future. You can also track the results of your digital marketing efforts with incredible accuracy.
It is easy to see which strategies are producing profitable results and which ones need some work.
Hope this article has answered all your queries about digital marketing!
Let me know in the comment box if you have any queries. I will love to help you regarding your all businesses’ growth with digital marketing.