CONTENT Marketing Ideas

Principles Of Digital Marketing

December 23, 2019|Digital Marketing, Paid Media

Did you know that 42% of companies fail because they don’t identify a market for their product or service? That usually means one of two things: Either they were unable to create a product or service that people wanted or, they created the right product and never found the right customers.

The methods companies use to gain new customers has changed radically over the last several years. While companies used to rely on traditional media like newspapers, radio, and television, these are very limited in their ability to target specific audiences. You can't target particular viewers or readers who may be more likely to purchase what you have to offer.

Fortunately, the rise of digital media has created several new, highly effective options that are perfect for businesses looking to reach new customers. Through the power of the internet, digital media advertising offers several characteristics that differentiate it from traditional media. It is more personal, catering to more specific audiences in a way that makes advertising much more relevant to those viewing it. It also has the bonus of being considerably more timely. Traditional media often takes days, weeks, or months, to produce and place. Digital media advertising can be launched often in minutes and can be adjusted on the fly. Perhaps most importantly, it is far less expensive.

Digital Marketing is based on three pillars: it is data-driven, customer-focused, and builds brand equity.

Data-Driven

When dealing with traditional media, you are limited to working with very broad data. Yes, you can read market reports on readership and ratings. However, that is nothing like the data we have access to with digital media. We can now see how many people are seeing, interacting, engaging, clicking, and even buying. We can view all this data together to have an overview of how our campaigns are working and how we can make them work better. We can run experiments, see the results, and quickly scale our advertising when we are ready.

Customer Focused

With traditional media, it is nearly impossible to focus on our potential customers. We pay for our ads and hope for the best. With digital media, we can learn about our customers. We can watch how they interact with our content and products and observe their buying habits. We can also solicit and review customer feedback to get an even clearer view of how we can serve them better.

Brand Equity

Digital marketing builds brand recognition and reputation. Driven by data and focused on customers, digital marketing is about more than just getting short-term sales. It is about building the power of your brand. This is done by building your community and using every opportunity to increase awareness, credibility, and trust.

A Whole New Way To Look At Marketing

While digital marketing is still based on some of the traditional practices of marketing, in some ways, it is a brand new approach. The growth of the internet and social media has radically changed the marketing landscape. Digital marketing is a response to that change and is now how companies of all sizes and in all sectors grow.