DIGITAL MARKETING: Details You Should Know In 2020
Digital Marketing isn’t about the things that you create, but it’s about the stories you convey to others to make them interested.
So, now what if I tell you how Digital marketing can make your life to be more interesting and knowledgeable in fun ways that you can’t comprehend. Therefore, now am gonna show you how it’s done and what things you will learn further on.
Here are the topics we gonna learn and understand today:
- What is Marketing?
- What is Digital Marketing?
- How to get engage in Digital marketing?
- What strategies you should use?
- What benefits do you get from getting into Digital Marketing?
Before we get started there’s a saying “Design things like you are right, then optimize things like you were wrong from the start.” So, keeping this in mind lets start the adventure on Digital Marketing.
Do u know the term Marketing? What is Marketing, if not then don’t worry we got you covered in this topic as we are going to discuss it now.
What is Marketing?
Marketing is the main part to show the brand in front of the right customers and to this whole world. If this scenario is true then it could be challenging for countries, companies, entrepreneurs, normal people to grow their reach and help in designing and bringing new things in the world to learn and explore.
Marketing is all about how you can make your audience or customer engage in the design you are providing at the right place and at the right time.
Now, as we know about marketing the next important thing is the process, how is the process of the marketing done. Steps are as follows:
- Probe: Probe means to research things, a design where it can make your product known.
- Strategy: Making a plan for executing and publishing the product with success.
- Build: Start building the design you researched for completion and publishment.
- Optimization: the act of getting an efficient or most effective manner of using a situation or resource.
- Publish: advertising your design product to the world so they know about it.
- Promote: Make your design product known through other platforms like on Social Media.
- Track: Checking the progress made by advertising the product.
- Refining: The profit made by selling the product.
Now, we get what is Marketing. So onto the main topic of this article i.e, DIGITAL MARKETING.
Digital Marketing Definition?
Digital Marketing has a similar concept like Marketing but with a little twist to it which makes it interesting. So, let’s start.
Digital Marketing is a concept or an idea that came into existence by word marketing. What it does is that it promotes, sells design products and services by leveraging the tactics of online marketing such as by using Social Media Marketing, Content Marketing, and Email Marketing.
Digital Marketing can be used in both online and offline forms. And, both kinds are important for getting a proper and efficient digital marketing strategy.
Here are a few of the most used digital marketing assets business companies use to reach people online:
- A personal website that you build.
- Have a branded assets like logos, icons, etc.
- Making video content like video ads, products, etc.
- Capture Images such as product shots, company images, etc.
- Have written content as eBooks, product descriptions, blogs, etc.
So, now we have an idea what is Digital marketing, therefore we will now discuss how one can get himself/herself started in Digital Marketing.
How to Get Engage in Digital Marketing? Digital Marketing Types
Well, if you have reached till here with me then you are one step closer to start your career in Digital marketing. So, the good news is, starting with digital marketing is very easy. Most online advertising platforms helps in making the signup easy and create your campaign.
Now, we will discuss what beginner guides can be used for digital marketing. These are some topics to beginner guides for different digital marketing strategies:
- Paid Search advertising.
- Search Engine Optimization (SEO).
- Paid Social Media Advertising.
- Social Media Marketing.
- Conversion rate Optimization.
- Content Marketing.
- Email Marketing.
The start of every successful marketing campaign, however, isn’t a guide even if you chose any strategies. Here you have to answer 4 questions before you get started with digital marketing.
How much you need to make?
To find out what are you required to spend on your marketing campaign, first you need to clarify what are your goals?. How you will approach digital marketing can vary depending on different matters depending on how your final goal is to drive clicks, sales, revenue, or a return on investment (ROI).
After you are finalized in your goal the ultimate choice of you should be ROI because if your digital marketing spends isn’t getting a profitable revenue for your business, there’s no reason for you to market online.
With that information now, the important thing you need to decide before your digital marketing budget is to decide how much revenue you want to get.
Track Your Audience Behaviour?
Once decided how much money you want to make from the digital world, you need to find out the targeted audience. This is important because different buyers personas (motive, requirements) require different tactics for marketing.
So you need to be good with words and smart if you aren’t able to understand your buyer personas, you wouldn’t be able to create an effective digital marketing strategy.
This information will give you a lot of insight into your marketing process that you can use to improve both performances of your advertising and decide the budget.
The worth of Your Customers, are they Worth it?
Usually, people plan an effective marketing strategy according to the buyer’s personas. Buyer personas are better for this, but its also an important part of combining an effective digital marketing plan.
Example: Let’s say you are advertising for SaaS Company Business known as SaaS-D that has the following price structure:
In a situation like this, we will probably target 3 different buyers persons:
- Small Company Business – A
- Mid Market Business Company – B
- Enterprise Business Company – C
Small Business Company – A has smaller and simple business needs than B and C, so A will choose starter package, B will go for Profession package and C will go for Enterprise package
Let’s just say A, B, and C stay around for 14 months – A, 4 years – B, 9 years – C and buys 5, 20, and 100 licenses respectively, here’s the lifetime value of each of those personas.
- A: $1,750
- B: $72,000
- C: $1,590,000
These numbers look exciting, but not all of that money is profit.
A normal SaaS company pays around 22% for completion, 9% to sales and it has around 40% overhead that is, it only has about 29% of the lifetime value of each client to have fun with. So to make it even, SaaS- D will spend less than the following for acquiring a customer from Facebook.
Maximum Acquisition Cost
- A: $507.50
- B: $20,880
- C: $461,100
If SaaS-D can maintain the acquisition cost below this threshold, they will make money. If more then they will lose money.
This is the reason why the buyer persona is very important to know about.
Then if SaaS-D is willing to spend 0.18$ on marketing to produce 1$ in lifetime value. SaaS-D will be able to pay for the following for each buyer personas:
Customer Acquisition Cost (CAC)
- A: $315
- B: $12,960
- C: $286,200
So, if SaaS-D digital marketing efforts are at the moment producing buyers from each persona at these CAC, SaaS-D will use that information to calculate their marketing budget.
How Much you need to spend on achieving your Goals?
At this point, things are simple. Just take your CAC, average purchase order value, and an average number of purchases and plug them into this calculator! Now, as you imagine, this way isn’t a full-proof estimate of what it’s going to take for hitting your revenue mark. But, it’s better than picking your monthly out of nowhere and thinking that digital marketing will give you the results that you need.
I know this can be exhaustive, but if you know this firsthand the risk of you going in loss is less because you know how to engage. So cheer up and let’s move on to the next topic where you can get to know the strategies of using digital marketing.
Strategies in Digital Marketing?
The list of digital marketing strategies is evolving at a constant rate, so here are some strategies most businesses are using:
It’s a concept that helps any type of digital marketing where you pay for each person clicking on an ad. For example let’s say, Google AdWords is a form of PPCA called “paid search advertising.”
Paid Search Advertising (PSA)
Google, Yahoo, etc all allow you to run text ads on their Search Engine Results Pages (SERPs). PSA is one of the best paths to target potential clients who are actively searching for product design or services like yours.
Search Engine Optimization (SEO)
Search Engine Optimisation is the best technique to make your brand popular in the market. Suppose you don’t want to pay to show your website or web-pages on SERPs, then you can use SEO to rank pages or blog posts on Google. Hence, no need for paying directly for each click which is made. But this technique takes lots of time and effort to rank on Google pages. For this, one can take the best SEO services from the experts.
Paid Social Media Advertising (PSMA)
Paid Social Media Advertising is a part of Social Media Marketing. Social media platforms like Facebook, Instagram, Twitter, Whatsapp, and Snapchat will allow you to run ads on their site. PSMA is great for building awareness amongst audiences at a very low price. Through social media, companies can advertise their brand to those who are not aware of their business, product, or service exists.
It’s the oldest form of online marketing and is still strong. A high per cent of digital marketers work with email marketing to advertise their special deals, for highlighting content or to promote an event. SMS marketing somehow acts the same as an email marketing but gives your more reach and fast response. But Email marketing is a more professional way to follow.
As we are now done with knowing the strategies of Email marketing, we are nearing the finish of the topic. Completion of knowing the email marketing helps you to generate the leads faster.
Do remember one thing “Patience is a Virtue”. Therefore the next topic we are gonna discuss is what benefits do you get in starting this career. Interesting right! Let’s start.
Benefits by getting into Digital Marketing?
After learning so many things you must be wondering what else can I get from Digital Marketing. So, for knowing benefits lets read the following:
- Global Reach:
The website permits you to find new markets and trade globally for a small investment which is more convenient and efficient.
- Improved Conversion Rate:
Let’s say you have a website, therefore the customers I have are only a few clicks away from buying the product. Whereas for other media they require people to wake up in the morning and make a phone call or go by a shop.
- Social Currency:
Digital Marketing helps you produce an engaging campaign using tactics of content marketing. This content will earn social currency being passed from one user to another user and becoming viral.
- Trackable, measurable results:
By measuring online marketing with web analytics (WA) and other online metric tools it’s easier to know how effective and efficient your campaign is.
- Lower cost:
A well-executed plan and well-targeted digital campaign can aim for higher right customers at a much lower cost than the methods of the traditional market.
Digital Marketing Summary
So, now we have done with knowing what Digital Marketing and how you can start your career. Therefore we get to the conclusion that “By giving the conveying message to the right person at the proper time you first need to gain the right information to the right holder at the right time”.
This can help your revenue go high if you get engaged in any form of a path towards Digital Marketing.