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The first step to embracing Digital Marketing as a means for promoting your products and services for achieving higher sales and profits is in understanding what Digital Marketing is and how you can fit it into your plans.
One of the most popular definitions of Digital Marketing is:
“The promotion of products or brands via one or more forms of electronic media. For example, advertising mediums that might be used as part of the digital marketing strategy of a business could include promotional efforts made via the Internet, social media, mobile phones and electronic billboards, as well as via digital and television and radio channels.”
Some sources define Digital Marketing as an umbrella term wherein the promoter uses all or any of the electronic media – television, internet, mobiles phones and electronic billboards for the purpose of achieving sales or building a brand image that benefits businesses.
It is not uncommon for businesses these days to incorporate Digital Marketing in their marketing plan. The reasons for embracing it in the marketing mix are varied from a user’s perspective.
Chiefly the reasons are:
It is effective in getting ideas across to the customers in the digital world that is expanding exponentially. It is effective because customers are more than just willing to embrace technology to keep themselves engaged in a competitive world.
The competition is already there and you cannot afford to ignore it. Digital Marketing for the present is future-proof though not in its entirety until a different technology comes into use. Further it is a trending feature where you will necessarily to be present.
There is little limitation on geographies a business can access with Digital Marketing as compared to the print media. It is thus cost effective even as it is able to reach across a bigger section of consumers. With bigger sales come larger profits and more profits means more investments in research and development and hence more market share.
The unit cost of spreading a message is far lesser compared to other media and there is more variety to it – email, social media and one-on-one engagement are some of what businesses can think in favour of Digital based marketing.
Protect brand reputation more ferociously. Brand image is what drives businesses worldwide. With a concerted Digital Marketing effort, businesses can counter criticism and prevent bad publicity. The advantage for businesses they are able to engage the consumer directly in social media and put forth their defense in an organized manner.
There is vast information on how businesses have been able to use Digital Marketing to grow. With this, launch times get shorter and it is even possible to sell online even without the customers touching or feeling your products.
Of all reasons, the best can be attributed to the multi-media capable mobile phones and internet growth. Putting the power to order goods and services virtually on the hands has had its own dramatic efforts.
It is worth noting that no less than 50% of all online sales takes place in the digital space with trends indicating that this figure is likely to go up in just a few short years. If that happens as it seems likely, then the future of business will have digital too signalling the demise of physical stores. Businesses know this and that is the reason why there is a beeline towards adopting Digital Marketing as the primary force multiplier.