Reaching Out to Targeted Audience with Unique Digital Marketing Strategies
Seeing the large number of youth population in India and rising tech savvy youth generation, consumers are now exposed not just to what company says about their brand, but what the media, friends, relatives, peers, etc., are saying as well. Consumer want brands they can trust, companies that know, communications that are personalized and relevant, and offers tailored to their needs and preferences. Therefore, content will be of paramount significance in digital marketing, it should be relatable and relevant to an individual at the same time having affinity with larger population.
A PWC report estimated that while internet advertising in India is expected to grow at a CAGR of 20 percent over 2014-2018 to an impressive USD 862 million, TV advertising (growing at 12.8 percent and slated to hit USD 5 billion) is 6x as big. Newspaper advertising in India too is expected to grow 7.7 percent to USD 3.6 billion, 4x more than digital.
Corporates will be more than happy to engage the target audience to spread their product and/or services among them via digital media.
Digital marketing utilizes multiple channels such as content marketing, influencer marketing, SEO (Search Engine Optimization), social media and online advertising, campaign marketing, and e-commerce marketing, social media marketing, social media optimization, e-mail direct marketing, display advertising, e–books, are becoming more and more common in our advancing technology. In fact, this extends to Internet channels that provide digital media, brands connect with customers and uncover performance of marketing programs in real-time.
Advantages and Limitations
Due to the vast reach of digital marketing to potential consumers at one time, the idea of digital marketing is a very important aspect in the overall communication between consumer and organisation.
Direct exposure of brand and the product to consumers with anytime anywhere access.
However, with digital marketing there are some limitations as Digital marketing is highly dependent on the internet and it may not be accessible in certain areas or consumers may have poor internet connection.
A disadvantage of digital advertising is the large amount of competing goods and services that are also using the same digital marketing strategies.
Another disadvantage is that even an individual or small group of people can harm the image of an established brand. For example, DOPPLEGANGER (German words Doppel (double) and Ganger (walker), thus it means double walker). It is a term that is used to disapprove an image about a certain brand that is spread by anti-brand activists, bloggers, and opinion leaders.
Generally brand creates images for itself to emotionally appeal to their customers. However some would disagree with this image and make alterations to this image and present in funny or cynical way, hence distorting the brand image, hence creating a Doppelganger image, blog or content
Two other practical limitations can be seen in the case of digital marketing. One, digital marketing is useful for specific categories of products, meaning only consumer goods can be propagated through digital channels. Secondly, digital marketing disseminates only the information to the prospects most of whom do not have the purchasing authority/power. And hence the reflection of digital marketing into real sales volume is doubtful.
There is however disadvantages that are not commonly looked into due to how much a business relies on it. It is important for marketers to take into consideration both advantages and disadvantages of digital marketing when considering their marketing strategy and business goals.
With the increase of digital marketing by organizations to reach their target customers; digital marketing has become a beneficial career option as well. Companies has started hiring individuals familiar in implementing digital marketing strategies and this has led the stream to become a preferred choice amongst individuals inspiring institutes to come up and offer professional courses in Digital Marketing.
Challenges Facing Digital Marketers
• Consumers use multiple digital channels and a variety of mobile devices with different specifications – and they interact with those devices in different ways and for different purposes.
• Digital channels are relatively cheap, compared to traditional channels, making them within reach of practically every business of every size.
• Big Data - Consumers leave behind a huge trail of data in digital channels. It’s extremely difficult to get a handle on all that data, as well as find the right data within exploding data volumes that can help you make the right decisions.
Three Keys to Digital Marketing Success
So, what does it take to do digital marketing right? Here are three keys to digital marketing success:
1. Manage complex customer relationships across a variety of channels – both digital and traditional.
2.Respond to and initiate dynamic customer interactions.
3.Extract value from big data to make better decisions faster.
Clearly the world of technology, digital marketing and social media is having a significant impact on how we behave socially, act as consumers and how we do business so it could be fair to say that any business that does not adapt to the new era of marketing and communications is in danger of losing out.