Digital marketing comprises the marketing of products or services using a digital medium such as the Internet, mobile phones, digital ads, and so on. The sharp surge in the use of digital devices for shopping and business is a sure sign that digital marketing is required to remain in the race.
Digital marketing activities include:
- Search engine optimization (SEO)
- Search engine marketing (SEM)
- Campaign marketing
- Content marketing
- Social media marketing
- E-commerce marketing
- E-mail marketing
- Display advertising
Why is it so important?
Digital marketing is the future of marketing as the digital media is replacing many traditional media like newspapers, books, magazines and hoardings. Digital marketing offers speed, affordability, flexibility, versatility, scalability and much more.
Digital marketing offers the added advantage of easy tracking and monitoring. Customer responses and feedback can be viewed quickly and the results of digital marketing are immediately visible.
Traditional Marketing – Advantages and Disadvantages
Traditional marketing has proved to be very costly as compared to digital marketing. In addition, it has a far lesser reach and very low interactivity. The results cannot be easily measured either.
Financial aspects of Digital Marketing
ROI and LCV
The ROI of digital marketing is simply calculated as Average Revenue per Sale (or Average Sale Value). You can calculate your average sale value by dividing your revenue by the number of transactions you made.
To calculate your profit, you can use a formula as Revenue – Expenses = Profit
The lifetime value of a customer can be calculated by finding out how much each customer typically spends with your company over a period of time.
Lifetime Transactions x Lifetime Revenue – Lifetime Expenses = Lifetime Value of a Customer
Working with a budget
- Make your objectives clear
- Analyze past efforts you have made
- Allocate money to different online strategies
- Study the trends
Risk is part and parcel of all business transactions but the upside of digital marketing is that you can advertise online at the fraction of the cost of traditional marketing and reach out to a global audience in no time.
Risks can be avoided by:
- Focusing on quality of content and advertisements rather than quantity
- Improving your website
- Targeting relevant blogs to link to
- Focus on customers and build loyalty
- Creating brand awareness
Components of Digital Marketing
Your website is a vital aspect of digital marketing mix and should be designed optimally. A website must be responsive and user-friendly to keep a user coming back. The content should be reliable and up-to-date. Product-specific landing pages will help create better leads and generate traffic.
A good email strategy can help a great deal since email is a highly effective marketing tool online. Emails can help bring traffic to your website, educate buyers, build credibility and retain customers. Emails can be customized and targeted to a particular segment, making it a very useful marketing tool.
Content on a website, in emails, on social media or even tweets says a lot about a company. Converting a visitor to a buyer requires good content that will help them make a decision. Share content across all social media channels to get a wider audience. Interactivity and originality are sure winners where content is concerned.
The right keywords and phrases will get the audience to reach your website or page. Appearing in the search results of major search engines is crucial for your business as it the first step towards getting noticed online.
Customers make use of various social media channels to express their opinions, learn about new products and give feedback. Social media will help you get better customer awareness and also a good idea of your brand image.
An investment in paid ads gives you enhanced visibility. Paid advertisements through Google Adwords or display ads can give your product a great exposure in search results.
Webinars are a good way to create a good image for your company and educate consumers.
Results Driven Digital marketing that means business! If you’re searching for a firm that offers digital marketing services that help you grow your brand online, take control of your marketing efforts, and improve your conversions, you’ve come to the right place. Bonzer Technologies Pvt. Ltd. is a full-service digital marketing company that provides online marketing campaigns that perfectly fit your company’s unique needs and goals.