Prior to Digital marketing, Companies were spending millions of dollars on Offline Marketing techniques like print, TV, Paper, Hoardings and radio advertisements. Now, Internet usage has changed everything. The access to world wide marketing opened up to startup brands as the cost of advertising significantly dropped throughout the years. The Financial Times defines digital marketing as “the marketing of products or services using digital channels to reach consumers.” Today, social media marketing is further expanding Internet marketing by making customer interaction easier.
A digital marketing strategy has one reason: to promote and market a brand through different types of Digital media channels. The most widely-used forms of digital marketing are SEO, social media, video marketing, Pay per click and Affiliate Marketing. Each has its advantages and disadvantages, limitations and proper methods of execution depending on the type of brand and Product. Most of digital marketing tools are cheaper than traditional marketing techniques like print and TV ads, these still involve costs in running ads or on the salary of people running your digital marketing campaign.
ROI (Return of Investment)
The easiest way of calculating your ROI is by dividing the Profit of an investment by the cost of such investment. The profit of an investment is derived from the gain from such investment less the cost. The ROI, which is in percentage or ratio, is the capability of an investment. This metric will guide you in deciding which investments to accelerate and which to give up.
Marketing and analytics
Basically, analytics captures, analyzes and interprets data. The efficiency of a promotional campaign on social media can be examined thoroughly with the help of analytics. The advantages of this tool cannot be downplayed as a business can save up to 50 percent of its marketing budget. It’s no wonder that about 30% of companies surveyed said they’re in urgent need of people with serious skills in data analysis.
How Digital Marketing Helps Startups Reach Their Goals
Once you have a clear idea of the ROI on your current marketing campaigns, offline or online, you can choose which to hold. Is revamping your old website worth the cost, or would you rather have your team develop a new app? Monitor the efficiency of your initiatives with analytics. This will empower you to identify your target audience, know their needs, and deliver content that matters to them. Stop shooting in the dark. Streamline your efforts.
Digital marketing trends: video Marketing
A new Nielsen survey suggests that 64 % of marketers expect an increase in video production and distribution in the near future. Video traffic is expected to make up 80 % of all consumer traffic in 2019. YouTube rules the video sharing market with more than one billion unique visitors every month. Recently, Facebook has introduced new video sharing and live streaming features. For 2017, invest in the production of video clips. The challenge is in delivering a compelling message and triggering action with a less-than-one-minute video.
Digital marketing trends: Mobile Marketing
Mobile marketing is the future. Cisco projects that traffic from wireless and mobile devices will account for 34 % of world wide Internet traffic by 2020. In addition, Smartphone traffic is expected to exceed Desktop and Laptop traffic in the next four years. If your Startup brand has not yet adapted its marketing initiatives to mobile platforms, you’re lagging behind in the competition. Make sure your website, campaign strategies, and online content are optimized for mobile users. Adopt a mobile-centric mindset from here on.
Digital marketing trends: social media marketing
Currently, there are 2.3 billion active social media users worldwide. The top social networks, Facebook, YouTube, Twitter and Google+, are most popular all over the world. How will you stand out from the millions of brands on social media? What content should you share to get the attention of your target audience? How will you engage your potential and existing customers to meaningful interactions? How do you improve customer experience with the help of social media channels?.
Fifteen years ago, no one could have imagined how the Internet would change our world. No one could have imagined that a social media platform can help topple dictatorships, change governments, and start revolutions. Technology, as we have witnessed, knows no boundaries.
We are moving ahead. Slowly, but forward, nonetheless. Your business, regardless of industry, should learn to adapt to changing trends. Digital marketing has been here for more than 15 years, but it’s only with the social media explosion that it’s gaining the attention it deserves. For 2017, revisit your marketing efforts, reassess your ROI, and ask yourself, “Where should I invest more in order to accelerate my growth?”