Digital marketing encompasses all marketing efforts that use the internet.
Where should you start if you want to develop your digital marketing strategy? More importantly, why do you need one?
Whether you look at India or globally, there has been a huge shift in marketing and advertising. Consumers are aided in their decision-making process with their smartphones, influencers, content, social media, and other customers. Brands are also dealing with an immense amount of change – varying attention spans, competition, changing preferences, economic challenges, and rising costs.
We’re here to address your queries and help you grow. For brands in this day and age, reaching modern audiences comes with its own opportunities and complexities. In this technology-driven era, leveraging digital technologies and channels is imperative to achieving marketing objectives.
- Why is Digital Marketing Important?
- What are the Advantages of Digital Marketing?
- Boost your Brand with Digital Marketing
- Why Do You Need a Digital Marketing Plan?
- What are the Best Digital Marketing Strategies for 2020?
- What are the Digital Marketing Trends to Look Out For in 2020?
Why is Digital Marketing Important? What are the Advantages of Digital Marketing?
Digital Marketing is more cost-effective than traditional marketing
Since digital marketing is measurable for varying objectives, brands can optimize their spends and have a better ROI. According to a study by Gartner, 40% of respondents claimed to gain considerable savings by using digital marketing methods. Digital marketing levels the field for small and big businesses alike, where even limited resources can go a long way.
Digital Marketing Helps You Engage With Targeted Audiences
Digital marketing helps you interact with mobile consumers ( the fastest-growing subset of the overall audience ) and precisely target them based on their demographics, attributes, and preferences. This increases marketing efficiency, improves retention rates, and increases customer satisfaction.
Digital Marketing Builds Trust and Reputation
Digital marketing leverages social media, reviews, testimonials, and the power of sharing to build a brand’s reputation. Easily-searchable and brands with a great presence on the internet tend to be trusted more by customers as well. Digital marketing opens doors to new customers through word-of-mouth and established credibility.
Read More: How can Startups Initiate with Social Media for Better Brand Awareness and Building Loyal Customers?
Digital Marketing Prepares You For The Future
You can’t compete or get ahead in this day and age without a digital presence or digital marketing. Businesses that adapt to the changing business environment have a better chance of success. According to Google, companies using digital marketing strategies have 2.8x better revenue growth expectancy.
Boost your Brand with Digital Marketing
A well-structured digital marketing plan can help you achieve the following for your brand:
Effective Social Media Presence
An effective social media presence means increased customer retention, new avenues for discoverability, and improved customer service. Social media encourages a dialogue between brands and their consumers and is one of the most proactive and real-time ways of building an audience.
Also Read: How Can Social Media be Used as a Lead Generation Channel?
Acquire New Customers and Retain Existing Ones
All marketing efforts, traditional and modern, aim to acquire new customers and improve retention. Among the many benefits of digital marketing, this is the most important – Digital marketing can help you reach the right audience, with precision, offer personalised attention, and bring in more business.
A well-thought-out content strategy with a multi-channel approach serves to engage existing and potential customers alike. A brand strategy with a unique and uniform design identity also creates a distinctive imprint on customers – you’d recognise a Coke or an Adidas logo anywhere and in all formats. Creating and disbursing content for consumption will build your brand identity and tell your story to potential customers.
Shareable content such as blogs, memes, videos, infographics, podcasts have the potential to go viral and rapidly spread through the internet. This introduces new consumers to your brand and stories, helping you seek new leads and attract new customers.
We’ve talked about a brand’s reputation and building trust before. Digital marketing truly helps your brand build a profile on the internet, be it through a website, an offline address in a local directory or social media. All of this information impacts SEO, brand searchability, and page rankings – customers actively seek out a brand’s profile and trust those brands with established credibility, reviews, and a strong history.
Why Do You Need a Digital Marketing Plan?
Failing to plan is planning to fail. In digital marketing strategy, the adage is even truer – every brand needs a well-defined strategy to create awareness, get leads, and convert them into customers.
Defines your Goals and Objectives
A well-defined digital marketing strategy will set objectives and goals first – what does your brand value the most – revenue? profit? engagement? sales? leads? Building a plan of action can help you get from where you are to where you want to be by outlining the answers to crucial questions such as target audience, budgets, frequency, direction etc.
Helps You Get to the Digital Consumer
We’re not just shopping online more – we’re spending time, energy, and much of our resources digitally. Purchase decisions are increasingly influenced by social media and search engines. A well-defined digital marketing strategy keeps the digital consumer and his/her habits at the centre and defines a path to driving awareness and engagement.
The beauty of digital marketing is its measurability, you can measure the results from your campaigns, including visitors, sales, time spent, conversions, growth rates and much, much more. With a solid digital marketing strategy in place, you can track your current results, optimise your efforts or change strategy and direction to achieve success.
With so many digital channels available such as email, social media marketing, podcasts, videos, affiliate marketing, and blogs – you can truly take your content experience to the next level. You can offer your customers the content they want, personalise it, and tell interactive stories. A great digital marketing strategy also includes a dialogue with your customers, encouraging user-generated content, feedback, reviews, and community-building.
Increased Reach and Visibility
With a well-built digital marketing plan, you can strategically increase your reach and visibility, and leave your competitors behind. You can reach your target audience, explore newer segments, and run A/B tests in different markets through a digital medium. It is easier than ever to move beyond a local audience and go national or even global.
Businesses must define their goals, KPIs, and tactics through multiple digital channels and execute their strategy consistently and effectively.
What are the Best Digital Marketing Strategies for 2020? What are the Trends to Look Out For?
Investing in Digital Marketing can no longer be ignored. According to eMarketer, “worldwide digital ad spend is set to reach $375 billion by 2021”. Take a look at the trends you should watch out for when you’re drawing up your digital marketing strategy for 2020:
Also Read: Digital Marketing Trends and Statistics to Leverage Digital Marketing in 2019-20
Modern Technologies That Are Enhancing Digital Marketing
- Automation in marketing is the next phase of digital marketing evolution. With vast quantities of data available, there is an increased focus on personalisation and automation
- Technology and marketing go hand-in-hand – the future is here, especially with artificial intelligence. Marketing insights, customer experience, and technology is the answer to providing a holistic experience to the customer.
- Digital innovations such as AR, VR, and voice will help marketers provide better service to consumers. Tech giants such as Facebook are rolling out interactive experiences such as AR ads in order to drive conversion.
- Customers prefer omnichannel retail as opposed to just online or offline-only businesses. Businesses with offline presence are investing in measuring technologies for footfalls and online campaign results
Digital Marketing Channels to Focus On in 2020
- Google and Facebook aren’t the biggest digital ad players anymore – Amazon ads have entered the fray and are taking off.
- Huge changes are expected in Google Shopping – ready your brand to be shopping-heavy. Google has already started rolling out shopping tabs through organic searches.
- With the advent of voice assistants such as Alexa, Siri and Google Home, voice search and voice advertising is on the rise. This marks a big change in search patterns and SEO as well.
- Changes in search algorithms mean that Search engine optimization will continue to get refined. This will result in new opportunities as well as changes in existing rankings.
- Video remains king and consumption is at an all-time high – video production, content creation and native advertising in video are all opportunities to be explored in 2020.
Improving Customer Experience With Digital Marketing
- Chatbots will continue to be popular. They save costs by answering questions on your behalf. Consumers love the unbiased, personalised attention of software programs that interact with website visitors and customers.
- Private messaging apps such as Whatsapp, Wechat and Viber are gaining popularity with brands – for shopping, for chatting, and for communication. The huge reach of these is still untapped and they are expected to grow as a mass reach marketing channel.
- As social media channels continue to evolve and add new features, social media remains an important channel to spend your time on. It is a great way to showcase your creativity and storytelling and create a brand connect.
Must Read: 26 Best Digital Marketing Tools You Should Consider In 2019
Planning your digital marketing strategy for 2020 can be a daunting task. How should you allocate your budget to achieve the greatest return on investment? What new technology and trends should you plan for? What is best for your brand?
We understand the coming and current digital trends and recommend that you build a digital marketing plan keeping in mind your customer and the most effective way to reach him/her. You can be exceptional at digital marketing in 2020 – determine your goals and objectives, build an appropriate plan, experiment, measure, implement, and revise. Personalised communication, a focus on holistic experience, and newer, updated digital channels and technologies are coming in 2020 – are you ready?