Digital Marketing is Performance Marketing….
“Half the Money I spend on advertising is wasted; the trouble is I do not know which half” is a classic statement on advertising spend by John Wanamaker. Traditional Marketing suffers from many disadvantages, among them “Measurement” has always been a challenge among traditional marketers. End of the day, a Marketer has to justify his spend for Marketing activities.
A highly circulating newspaper charges few lakhs of dollars for print media advertising, but the shelf life of newspaper is just 24 hours. Traditional Marketing lacks Persuasion, for example newspaper advertisement can persuade a prospect for 24 hours, not beyond.
Internet being a massive media where global population spend half of their day in some way or the other is a spectacular arena to target audiences on varied internet enabled platforms like social media, mobile platforms and other virtual world of internet.
The global smartphone audience surpassed the 1 billion mark in 2012 and will total 1.75 billion in 2014. emarketer expects smartphone adoption to continue on fast-paced trajectory through 2017. Courtesy – eMarketer .
“Half of the world’s population connected to the mobile internet by 2020” According to new GSMA figures – Courtesy www. gsma.com
Global internet usage statistics is a sure signal for small, medium and even for big business to go for Digital.
Traditional Marketing just ignores the very human tendency of Pre and Post Purchase Decision Making Life Cycle. A prospect goes through following stages of purchase decision making process :
- Problem Recognition (Need Recognition)
- Information Search – Interaction with Search Engines
- Evaluation of Alternative – Search and Social Platforms
- Purchase Decision Making – online Peer references : forums : blogs :reviews : email marketing
- Purchase : E commerce – Online Purchase convenience and Economical Advantages
- Post Purchase Evaluation – Sharing Reviews , Online Forums, Social Media Platforms
As mentioned above traditional marketing channels inherently suffer from shortcomings i.e Unable to measure performance, on other hand in ability to penetrate into subliminal of prospect.
As shown above Digital Marketing has continuous influence on Prospect’s subliminal with one way or the other, and continuous connection between marketing and prospect.
Digital Marketing Success – Collaboration among Marketing Process –People – Technology
Digital Marketing will never be a successful, if you fail to identify and establish a Process required for its execution. Business models differ from each other, in other words each business model is unique in its own way. Hence, a process established tested, tried and successfully implemented has no guarantee to deliver similar outcomes.
Interestingly, different channels of digital marketing like SEO, PPC, Social Media and Content Marketing etc., need a different set of Process, in line with ‘Business Model, Business Objectives and Goals.
The success of digital marketing is attributed to the extent to which processes are collaborated as depicted in following diagram:
The universally accepted above process, can be tweaked to any extent and adopt to any Business Model and implementation of digital marketing channels .
The Process focused on Objective and Goal is surely deliver the success, if it is coupled with right People and Technology.
According to me, an interesting and challenging process of Digital Marketing is identifying Objectives and Goals and mapping them to Key Performance Indicators and in turn establishing a meaningful and measurable Metrics.
As in other domain, Digital Marketing needs the right people for different channels of Digital Marketing. It is always been a challenging task to identify right talent for different channels of digital marketing.
Why finding right talent is always a challenging task?
Marketing ideas generate from mind set of a person. If you give a product or service to a group of marketer each marketer articulates his own strategy to market the product.
Apart from Education and Experience, I opine that the Psychology or behavioral attributes of a person plays a very important role in deciding right resource for different marketing channels . I would like to mention couple of instances, according to my experience :
1.A person with good socializing quality will be a better prospect for delivering good results in Social Media.
2.A person with an attitude of ‘Zero Investment, 100% Profit’ is better prospect for Search Engine Optimization’.
3.A person with an attitude of optimal results with minimal marketing budget with strategic skill sets, would be better prospect for ‘Pay Per Click’.
“Collaboration among People with different mindsets towards Marketing is another key for Digital Marketing success.“
If each channel is an opportunity to drive relevant traffic to digital business tool, then we need pool of talent to handle individual digital marketing channels.
Internet is back bone of ‘Digital Marketing’. Majority of marketing tools are cloud based computing and available for Free, Fremium and Premium subscriptions.
All digital marketing channels use internet as media for reaching target audience. The following is the obvious list of Digital Marketing, which exclusively use internet as media
SEO – All major search engines
PPC / Adwords – Google, Linkedin, Adroll, Chitika and other Cloud based search and display advertising
Social Media Marketing – All major Social Media platforms like facebook, twitter, Instagram etc.,
Affiliate Marketing : cj.com
Video Marketing – youtube.com, wistia.com
All above channels are just an introductory list of digital marketing channels and their respective cloud based software applications. Below are different channels of digital marketing, where as list is not exhaustive. Because, digital marketing is in its evolution stage, also every day a new digital marketing channel takes birth due to dynamics of different business models.
We can identify more than 40 Digital Marketing channels, in practice today successfully driving various business models :
- Search Engine Optimization – SEO
- Pay Per Click – PPC
- Social Media Marketing – SMM
- Affiliate Marketing
- Facebook Advertising
- Facebook Page
- Twitter Account
- Twitter Advertising
- LinkedIn Advertisements
- LinkedIn Company Profile
- LinkedIn Group
- Desktop App
- Digital Banners and Signage
- Display Advertising
- Images and Infographics
- Loyalty Card
- PR Stunts
- Press Release
- QR Codes
- Product Listing Advertising
- Mobile App
- Web Chat
- SMS Marketing
- Referral Marketing
- Video Marketing
- Viral Marketing
- Blog Marketing
- Content Marketing
- Mobile Marketing
- E Mail Marketing
- In game advertising
- Near Field Communications
- Relationship Marketing.
All digital marketing channels are not equally applicable to all business models. Digital Marketers, have an intelligent task of selecting suitable channel based on type of target audience, product, services and very importantly ROI expectations. Digital Marketer has to decide different combination of channels either based on his experience or based on his Digital Marketing IQ.
What so ever your combination of digital marketing channels, your success lays in how well you integrate them together to chalk out your Integrated Digital Marketing Platform tailored to your business model.
So, what is the best Integrated Digital Marketing Platform?
There are tons of Digital Marketing Cloud based tools are available from key industry players like Adobe, IBM, Google. But, following is my dream Integrated Digital Marketing Frame work, does some where exist in this world?