Any strategy proves to be effective only when it can be optimally utilized to achieve the objectives set out while drafting the same. One of the most complex decisions taken by the top management of a company in this era is regarding its marketing strategy due to its direct impact on the brand and profitability.
Why is marketing important?
- Rise in revenue by increasing the volume of sales.
- To increase awareness about the product and its features in the market.
- Brand building, Management and Communication.
- Expanding Market Share.
Without strong marketing and advertising, it is almost impossible for a company to operate such competitive markets where everyone is making the best use of available resources. Over the last decade, businesses have realized the significance of having an overall marketing strategy. However, to prove their allegiance to the theory, huge expenditure has been made. One such iconic change was brought upon by the Digital Marketing,
“The use digital channels and various forms of digital media for marketing of products and promote brands.”
The advantages of technology are manifold and widespread, to apply these to forward a company’s marketing goals is the new industry trend. Digital Marketing is more than the use of internet as it also includes channels which do not need the use of inner web such as pull and push message/notification technology. Successful applications of digital marketing can be found in Social Media Marketing, Email Marketing, and Display Marketing etc.
The Common Advantages of Digital Marketing Include
- Low cost
- Finding easy access to a large audience
- Breaking geographical barriers.
- Establishing strong personal relationships with the audience
- Direct contact with potential customers
There are approximately more than 354 million users of internet and mobile in India which makes for the largest set of audience that can be reached through the use of a single medium. It can be argued that other mediums can touch the same amount of prospects but the real question is about the COST EFFECTIVENESS!
Digital Media is the most reasonable medium companies can rely on, especially in the age of “Smart Phone” when it is difficult to get people off their phones. The availability of multiple channels and approaches assists in not just reaching numbers but also the maximum strength belonging to the target universe. Another gain from the choice of this form of marketing is the chance it provides to increase curiosity about the products, yes you heard it right, it is human nature to pursue what we can’t understand, use of digital media and channels helps to disseminate just enough information which leads to more search about the product and its details.
However, it is a common belief that digital marketing helps only online ventures which have been proven by the recent trend. Even local businesses have benefited from the use of digital marketing for increasing the traffic at their local offices or shops. The youth these days prefer to do their homework on the internet before taking decisions regarding shopping outlets, vendors, restaurants etc.
Therefore it is only fitting to say that Digital Marketing is the best way to shed light on the products or services ensuring that the brand gets attention and at the same time work towards the long-term growth and customer retention by increasing subscribers and footfalls.