The Why When and How of Digital Marketing
Digital Marketing is a relatively new age phenomenon and is changing very rapidly in the technological arena. You would notice that businesses are doing everything they can to stay ahead of the curve in this fast changing scenario. Existing and conventional marketing initiatives are being valued added with digital initiatives to capture a bigger audience base and expand the scope of business through the highly lucrative online marketing initiatives. But some cardinal questions come to the fray, for example, why do you need digital marketing? When cam you decide that the time is ripe for some digital marketing and how do you need to fashion your digital marketing initiatives. Here are some key pointers.
The Why of Digital Marketing
The fundamental fact that you need to address is why you need digital marketing. Is it only because you see several others following it or is it because you need to further your business. Never be shy of either asking you this fundamental question or your peer group. As Simon Sinek suggests in his famous TED Talk, addressing â€˜Why You Need Digital Marketingâ€™ is a crucial step to take you forward in this aspect. By asking why one doesnâ€™t just voice an obvious need but also helps fuel the need to probe deeper to get to the core of the matter and accomplish the ultimate purpose in a more balanced fashion. You need to encourage and inspire your team to ask why because this is what will help take your business forward digitally in a meaningful way.
Here is a brief outline of some of the fundamental â€˜whyâ€™ of digital marketing that we have compiled:
- Digital Marketing helps you achieve higher conversion rates. In fact statistics indicate a sharp 24% increase in conversion rate opening the doorway to better success and greater profitability
- Digital Marketing can also result in a cost efficient way of conducting business. Especially for small and medium businesses, there has been a record 40% savings in expenses as a result of digital marketing initiatives.
- Digital Marketing could also result in better and wider reach. Studies indicate that in the US alone nearly 91% of citizens keep their mobiles close to them all the time and digital marketing is the one unique way in which they can better reach this huge user base a lot more simply.
The When of Digital Marketing
The next important aspect of digital marketing is deciding when you need it. Scheduling the right time and place can always help optimize the impact of your initiative. Like Matt Cutts reveals in his TED Talks, it is never too late to make a beginning. The best ways to decide when you need digital marketing is by trying out the new idea for say 30 days and take call eventually. Trying out an initiative is helpful not just in determining the right time for it but also the extent of the operation is clearly borne out.
Here is a comprehensive compilation of some of the â€˜whenâ€™ that a small or a medium business like yours can take as indicative timelines to start your digital marketing initiatives:
- When the time comes for your business to start an aggressive competition with large corporate, digital marketing could often be the perfect response to make the maximum impact within minimum means that is most times a reality for most small and medium businesses.
- When you need that competitive edge against your peers, digital marketing could be that sure solution that enables not just a better grip on marketing and promotional initiatives.
- According to the Gartner report, the year 2020 will see an estimated 26 billion gadgets ranging from smartphones to wearable gadgets to shoes and many other forms that would prepare you for the internet of things. Therefore deciding on digital marketing today will enable you to be better prepared to take on the challenges of tomorrow.
The How of Digital Marketing
In the world of digital marketing, as Derek Sivers mentions in his famous TED Talk on How to Start a Movement, that the core idea driving most digital marketing initiative is influence someoneâ€™s decision. Chances are you would need digital marketing for a range of action from driving traffic to a specific website to generating subscription for a blog. But whatever you might aim to achieve, it is important to talk and communicate about your idea and initiative and gradually introduce the idea to consumers whose decision will ultimately fashion your business growth.
To successfully conduct these talks, it is important to include key insights in your digital marketing strategy. These insights will throw better light on various aspects including what worked and what did not and ways to optimise the highly lucrative digital marketing channels. Here are some key examples of the same:
- By creating how the fashion preferences of 30 plus women professionals changed, digital marketing played a pivotal role in both developing and further a chic business involving office clothing for women in that age bracket.
- By looking for insights on how audience respond to a specific content Vs peers, app developers can use digital marketing initiatives to not just boost business but also boost future profitability.
- By monitoring the various sentiment and brand mentions on social network, digital marketing can easily help you develop know-how on the target audience and make course correction with a lot more ease for better gains.
A point-wise analysis of the various elements of the why when and how of digital marketing clearly brings forth the inherent concept and thought to drive this new age marketing approach. One of the core fact that emerges from the many TED Talks on the issue is the need to be flexible, adaptive and innovative to bring in maximum gains. Moreover digital marketing can almost be considered an evolving art form that is perpetually going through various phases of development in sync with the technological advances seen all around us.