Marketing is the action or business of promoting and selling products or services including market research and advertising. It also includes the business process of creating relationships with and satisfying customers, simply put; it is the act of creating awareness for your business. Marketing used to be limited, and reaching out to broader potential customers seemed impossible but the introduction of technology has changed all that. Things are much simpler, easier and advanced, all thanks to digital marketing.
Digital Marketing is the marketing of products or services using digital technologies, mainly on the internet, but also including mobile phones, display advertising, and any other digital medium. It includes email marketing, search engine marketing (SEM), social media marketing, and mobile advertising. One can market from the comfort of their homes, it’s incredible, but there are questions that need to be answered to properly plan and execute an excellent marketing strategy. These questions include;
*Who is your target audience?
*Who are your competitors, and what are their strengths and weaknesses?
*What is the buying power of your market audience?
*What is the quality of your product and can it compete favorably with your competitors?
*What is the Government policy on your product?
When you answer these questions you are one step ahead to understanding your market, your brand and not taking unnecessary business risk.
BENEFITS OF DIGITAL MARKETING
Cost: the low costs of electronic communication reduce the cost of displaying online advertisements compared to offline ads. Online advertising, and in particular social media, provides a low cost means for advertisers to engage with large established communities.
Measurability: online advertisers can collect data on their ads’ effectiveness, such as the size of the potential audience or actual audience response, how a visitor reached their advertisement, whether the advertisement resulted in a sale, and whether an ad actually loaded within a visitor’s view. This helps online advertisers improve their ad campaigns over time.
Formatting: advertisers have a wide variety of ways presenting their promotional messages, including the ability to covey images, video, audio, and links unlike many offline ads, online ads also can be interactive.
Targeting: publishers can offer advertisers the ability to reach customizable and narrow market segments for targeted advertising. Online advertising may use geo-targeting to display relevant advertisements to the user’s geography. Advertisers can customize each individual ad to a particular user based on the user’s previous preferences. Advertisers can also track whether a visitor has already seen a particular ad in order to reduce unwanted repetitious exposures and provide adequate time gaps between exposures.
Coverage: online advertising can reach nearly every global market, and online advertising influences offline sales.
Speed: once ad design is complete, online ads can be deployed immediately. The delivery of online ads does not need to be linked to the publisher’s publication schedule. Furthermore, online advertisers can modify or replace ad copy more rapidly than their offline counterparts.
Remember, you might have a fantastic product that people need but the lack of marketing would make it impossible for your product to grow, or even be seen. Social media marketing such as Twitter, facebook, instagram, whatsapp and emails are one of the many resources that can be explored to market your business. People are moving with the trend, you should too.