So, What is Digital Marketing?
Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
In simplistic terms, digital marketing is the promotion of products or brands via one or more forms of electronic media. Digital marketing differs from traditional marketing in that it involves the use of channels and methods that enable an organization to analyze marketing campaigns and understand what is working and what isn’t – typically in real time. Digital marketers monitor things like what is being viewed, how often and for how long, sales conversions, what content works and doesn’t work, etc. While the Internet is, perhaps, the channel most closely associated with digital marketing, others include wireless text messaging, mobile instant messaging, mobile apps, podcasts, electronic billboards, digital television and radio channels, etc.
Why is digital marketing so important?
Because it is not only a rapidly growing force in the current marketing playing field, it is set to be the future of marketing, and it seems likely that digital media will soon replace more traditional forms altogether.
Digital marketing is infinitely more affordable than traditional offline marketing methods. An email or social media campaign, for example, can transmit a marketing message to consumers for the merest fraction of the cost of a TV ad or print campaign, and potentially reach a wider audience.
But one of the main benefits of conducting your marketing digitally is the ease with which results can be tracked and monitored. Rather than conducting expensive customer research, you can quickly view customer response rates and measure the success of your marketing campaign in real-time, enabling you to plan more effectively for the next one.
The facts are that digital methods of communication and marketing are faster, more versatile, practical and streamlined, so it is perhaps unsurprising that once the technology became available we began quickly moving into the digital age. The good news is that digital offers just as much potential to marketers as it does to consumers.
The bottom line is, the digital age is here, and those businesses that fail to adapt to the new marketing climate are at great risk of going extinct sooner rather than later.