Wow! Word Of Wisdom
Understanding the dynamics of Digital marketing for ahy organization in order to be super successful in their Digital Marketing Pursuit
What is Digital Marketing Dynamics ?
There are two main approaches in Digital Marketing –
1. Active –
As many of you may be knowing active approach is something wherein you are tapping customers who are actively searching for your kind of products or services. Example – Making yourself known on Search Engines. When people search your kind of product or services, your website gets listed on the SERP list either through paid campaign or organically.
2. Passive –
You are tapping potential customer who are NOT actively looking for your kind of products or services. Usually these kind of approach is useful for branding purpose(not always).
In the normal discourse, active customers are supposed to be in the lower end of the sales funnel stage and Passive customers are supposed to be in higher end of the sales funnel stage. But in reality both active and passive customers are somewhere in the middle of the Sales funnel.
How different is digital marketing compared to conventional marketing ?
Unlike in Conventional marketing, in digital marketing you will be able to target specific audience while campaigning. You will be able to target people based on
- Parental Status
- Affinity audience – their interest category
- In Market audience – products or services they are researching online
- Users – website visitors
- Remarketing – create audience based on specific action they have taken on your website.
To quote an example, if you are into real estate business. The best available conventional marketing platform for you to advertise is Times properties supplement of Times of India print edition. A single edition front page may cost you upto 3 lakh rupees. This ad has a shell life of just one day. Even though the print edition may reach upto a million people, only a miniscule percentage of people are the potential audience for you. The percentage is so small to the extent of 0.05% yes that is 500/1000000 ratio who may be interested in your ad. Even in that miniscule interested audience, hardly 50 people may call for a site visit. That is .005%.
When you decide to do a similar campaign on social media platform like Facebook or Google display network, you will be able to target audience based on their Interest with in market segment targeting. When you target in market audience(that is people who are researching on properties online) on facebook or GDN, at least 80% of them will be interested in your products or service.
Doing a reverse workout to reach .005% of 100000, that is making 50 people call you, like in Times properties ad, you need to target and reach only 100000 in market audience with 0.5 % (CTR). The cost for which may not be more than 10000 Rupees. which is 3% of times properties ad. The whole reason you are saving money is because you are reaching targeted audience, that is appropriate audience who may buy your product or service.
Over and above that there is remarketing provision here. referring to our Real estate example above, we see that in the times properties ad only 50 people ended up calling out of 500 people who might have been interested. The remaining 450 people are out of your sales funnel.
But in Digital marketing platform, people who showed interest but did not call can be retargetted as their user behavior over your website is tracked. The ROI is just increase by 300% just because of remarketing. Of course remarkeitng is not limited to Facebook and GDN but also by email marketing.
What it may cost to pursue Digital marketing ?
Well if you though it may cost in lakhs. No you can start with just couple of thousand to invest on website and paid campaigns, you can be up and running.
The other advantages are still more enticing –
The sheer volume of material you can share is enormous. 100 times more information can be shared over the digital platform.
Flexibility to on and off your campaign is possible
Refining your campaign any time is possible, even in the middle of the campaign it is possible.
Seriously Digital Marketing offers endless possibilities.