In the simplest sense, Marketing bridges the gap between having a product or a service and informing your target audience about it. It is the act of communicating what your offering is all about – in such a way that it convinces a potential customer to become a repeat consumer.
Needless to say, with the rise in competition and the need for constant change, improvement and innovation have become paramount. And this explains why marketing, as we know it today, is so different from what it was a decade ago. Nowadays, companies are moving away from traditional marketing and embracing the digital medium because they see, very clearly, the benefits of doing so.
In Digital Marketing there’s an array of services available. The gamut of services a typical digital marketing agency would offer would include search engine marketing, search engine optimization, paid search advertising, social media marketing, blogging, email marketing, web designing and development and web content writing and strategizing.
Now, why is it that there is such an evident shift toward digital marketing? Let’s look at the rationale behind it.
If you own business, there’s a high chance that numbers matter to you. Everything, at the end of the day, boils down to how your financial books look, and a great indicator of your business’s health is its ROI (Return on Investment). Imagine a hoarding you have put up on the busiest national highway in the country and try to assess what your returns on it are. How do you calculate how many people saw it, how many got convinced to buy your product and how much business it got you? You can’t. That accuracy – which lies at the center of future planning in any business – is what digital marketing gives you. You can track and analyze the metrics and numbers and tweak your strategy as often as required.
With Digital Marketing, your business is not only so much closer to the end user, but it is also more targeted regarding the conversations you have with your audience. You can segment your target groups on numerous bases – gender, age, social behavior, hobbies, and interests. And that leads to minor spillage (or wastage of invested capital) when compared to any form of digital marketing, which makes your message much more relevant and contextual.
Since there are too many digital channels present in the Indian market, companies don’t have such resources to cover all the numerous channels. So they look towards digital agencies to take up the task of focusing on the main channels through which their business can grow. Their objective is to prioritize which channels to focus on. The motto of the companies in today’s cut-throat competition is – be the predator or the prey. Digital media agencies cater to this motto very diligently and help companies to become predators.
Finally, when compared to the humungous costs of buying media space – be it newspapers, magazines, television or radio – digital media is so much more cost effective with relatively negligible media buying costs involved.
Thus, given the advantages of this medium and its ever increasing popularity in the corporate world, one thing is for sure: Digital marketing is here to stay and the sooner you embrace it, the quicker you will reap the benefits.