What Every Business Owner Must Know About Digital Marketing

Digital Marketing / Internet Marketing / Online Marketing are one of the most used terms of the industry today. However, it is sadly just a bunch of jargon for most of the people who hear it and use it to convey their mind. What exactly is digital marketing and what part of it is essential for today’s business person? We’re here to break it down for you in the simplest words possible.

Online Marketing is simply marketing of your product or service onto digital platforms so as to hold onto your loyal consumers as well as increase your reach to new potential target audience swiftly.

That is it. That is what Online marketing is. There are some further questions that need attention to solve your confusion; such as:

Is digital marketing the same as social media marketing?

The answer is yes. Digital / Internet marketing is a wider concept as compared to social media marketing in the sense that, all social media platforms are available digitally i.e. via the internet. However, there are other platforms that come under digital marketing other than social media marketing.

What are the concepts and platforms of digital marketing?

The search engines that we use to search our queries and requirements are in themselves a humongous platform for online marketing. This concept is called “Search Engine Marketing” or SEM.

Search Engine Marketing is marketing of your product on search engines such as Google and Bing by Yahoo. This platform is of utmost importance for businesses that are into a B2B industry.

Another concept that comes under the wing of digital marketing is “Search Engine Optimization” or SEO. Search Engine Optimization is a way of developing your website’s content in a way that allows the search engine’s algorithm to crawl and test your website efficiently. It is a way to get higher rankings in the search results on the search engine; helping us to have a better hand at SEM.

SEO is a primary necessity of any and every website owner as it helps you stand out among the sea of websites we see today.

Social Media Marketing is a concept that comprises of campaigns designed to market your product or service on social media platforms such as Facebook, Twitter, YouTube, LinkedIn, etc. SMM is a great tool when it comes to products that have a B2C segment.

There is an interesting concept called Re-marketing in Internet marketing which enables us to reach out to the potential consumer base multiple times. It can be seen as following your consumer on various platforms, websites and showing your personalized ad copy to them so as to keep reminding them about their visit to your website.

This also enables us to work on another factor called Consumer Lifetime Value wherein we can increase our reach to existing customers and improve our ROI from these consumers through various practices such as Email Marketing, Re-marketing, Paid Ad campaigns, RSS Feeds etc.

However, for a great digital / Internet marketing experience, a campaign needs to be developed using all the above mentioned platforms.

How is digital marketing different from traditional marketing?

Digital Marketing is cost effective in terms of better reach and results.

Internet Marketing lets you target specific audience based upon demographics, interest and devices.

Internet Marketing gives us factual data that can be statistically analysed. For instance, if a hoarding is marketing your product, you have no clue how many people saw the hoarding, read the content and actually became customers because of that hoarding. However, in Digital marketing, say we run a campaign marketing the same product, we can analyse the data produced by different marketing platforms that can show us how many people saw the product, how many actually became consumers and which consumers came via which of the used platforms. This allows us to find glitches in our campaign and work on it to make it even more action driven.

But then should traditional marketing be stopped completely?

Of course not! Traditional marketing, in fact, paired with digital marketing can give results superior than just traditional or digital marketing.

However, one thing that people mistake about digital marketing is that it can be done for free. It is true to an extent; however, to get the best results, digital marketing needs to have an independent budget. Money must be set aside to be able to exploit all the opportunities that digital marketing has to offer to your business and its glorious future.

Digital Marketing: Basic Strategies Every Beginner Must Know

What is Digital Marketing?

Digital marketing refers to the usage of online advertising tools to project products and services to potential customers. Digital Marketing has become a key component of the marketing strategy of most companies today, because as much as a third of the world’s population now spends time online.

What are the benefits?

Digital marketing provides advantages that were previously unprecedented. With over 2 billion people having an active online presence, online marketing provides an incredible outreach. Also, most social platforms provide their services for free, making them very cost-effective. People also tend to prefer an online marketing approach because of its personal touch and interactive nature. With these features, online advertising provides opportunities that traditional marketing hardly can; and even if it could, it would be a financial and logistical nightmare.

Now that we have established the importance of digital marketing, here are the basic strategies one must apply to get maximum results:

1. Know your audience: It is important that you discern exactly what your brand is, what it stands for, and which people make up your target demographic. This knowledge will enable you select the most appropriate digital platforms for your brand, as well as use available online tools to target customers that will most likely lead to sales conversions.

2. Have a comprehensive strategy: This involves you defining specific goals your brand intends to achieve with online advertising. This allows you to leverage on particular strengths of relevant e-marketing platforms and also use analytical tools such as Google Analytics ton track and manage progress and goal achievement.

3. Have Optimized and Integrated accounts across all relevant platforms: It is not just enough to have accounts across several online marketing platforms; you must also make sure that they are functioning to their fullest capability. This includes rich media for all your social media accounts (i.e. quality photos and videos) and regular interaction with your customers; as well as a fast and aesthetically pleasing website with enough backlinks and very active SEO (Search Engine Optimization). Most e-marketing platforms also provide facilities for cross-platform integration, enabling you to seamlessly synchronize your brand’s online presence; and also make it easier for potential customers to locate your brand across different platforms.

4. Have a consistent voice: Carve out a particular niche for yourself which is relevant to your brand, and remain consistent to it throughout all your online activity. Saying something today and something else tomorrow could easily confuse potential customers and chase them away.

5. Provide quality content: With regards to your internet marketing content, go with the acronym QERO, which stands for Quality, Engaging, Regular and Original. If your online content consistently possesses these qualities, you can be sure of comfortably winning over the hearts of several customers.

6. Use Smart Tools: There are a plethora of online marketing platforms, and handling each one separately could be cumbersome. Instead, make your work easier and smarter by using the variety of smart tools available. Tools like Buffer, Everypost and Hootsuite enable you handle several social media accounts at once, MailChimp is great for e-mail marketing, and Adroll helps you re-market to customers who are already loyal.

7. Combine with Traditional Marketing: In as much as digital marketing has immense potential, traditional marketing should not be jettisoned just yet. In fact, the best results are achieved when digital and traditional marketing strategies are combined. So by all means have a robust online presence, but also complement that with TV and Radio ads, as well as the timeless one-on-one customer relationship.

Digital marketing has developed rapidly over the past few years, and it promises to be a major player in the marketing industry for years to come. Hence, the sooner you get acquainted with it, the better; and the more you save yourself the unnecessary expense of outsourcing your online advertising to a digital marketing agency.

Generating Revenue With Account-Based Marketing

Before getting into Account-based Marketing (ABM), let’s see how sales personnel get business without it. Imagine that you want to make a sale for your company. You can either do cold calls or do direct walk-ins and hope the person you talk to is a decision maker in the company, which can end up as a disappointment if he’s not. Then you will have to ask for a call or a meeting with his manager, which may or may not get approved and if it’s approved you will have to wait for the scheduled time which may change again at the last moment.

The sales person will have to patiently go through the whole process until the final call to make the closing. Those who have worked in sales knows how time consuming the whole process is and I bet that sales people will do anything for solid leads which can make their work easier. And this is the sole reason that marketers all over the world are embracing ABM techniques for simplifying their work.

Sales made easy through Account-based Marketing

ABM can be referred to as a blend of a company’s sales and marketing functions, which is a strategic approach to B2B marketing based on goals for specific target accounts. In the current business world, Key-Account Marketing is considered as a more strategic way to do outbound. With the help of ABM, the sales team can directly approach the key-decision makers of targeted companies without going through the entire process of random cold-calling, unnecessary meetings etc. The key advantage is that the sales process which takes several months for closing can be accomplished in a much lesser time.

The Need for Account-Based Marketing

The phrase coined by ITSMA in 2004 has its roots in the 1990s when companies began to realize the importance of personalized marketing. However, it wasn’t until recent years that Key Account marketing has really begun to catch on in the B2B industry due to the increase in the importance of inbound marketing and in the rise of vendors who offer the ABM services. With the help of ABM, companies started to expand their knowledge of potential customers, which in turn, helped them in acquiring more sales and profit. This technique also applies the psychological factor that customers respond more when approached in a personal manner rather than being approached as just another sales lead. Moreover, if you are linking Account-Based Marketing with the CRM of your company there will be additional benefits of maintaining critical information like the client’s role in the company, the status of the account, company industry type, company size etc.

Account-Based marketing & it’s working

Presently, there are different Account-Based Marketing technologies in the market. Productive key account marketing involves a multichannel approach and requires close alignment between an organization’s sales, marketing, and customer success teams. To reach target accounts, digital targeting is used by Account-based advertising to fit an organization’s ideal customer profile. CRM or marketing automation tools are integrated with ABM platforms to run campaigns targeting the company’s target accounts. This provides an ability to run multichannel campaigns for ads across different channels like mobile, display, video and social media. By doing this you can understand which message resonates the most, through which medium and get the exact data to back it up – with A/B testing in near real-time.

One of the reasons that Account-based technologies have seen great success is that they engage customers on their terms using digital channels other than e-mail and phone calls. Key Account Marketing can be done on a larger scale rather than traditional methods because it engages the entire account as well as the targeted leads.

Benefits seen after using Account-Based Marketing

· Faster Deals

With the help of ABM, leads are funneled to the most targeted ones, the chances of getting rejected narrows down to a minimum and deals get closed much faster.

· Higher returns

Since sales people are targeting on the best accounts for business with the help of Key-Account Marketing rather than typical demand generation, the returns are higher.

· Reduced Time Consumption

With ABM, the sales team will focus only on the accounts that have high conversion rates. It means they don’t waste their time on leads that don’t matter or are unqualified.

· Alignment of marketing and sales

There are chances that the marketing and sales teams of the same organization are focusing on separate accounts. Key-Account Marketing requires cooperation between the two teams so that they work together to target key decision makers within the same accounts.

Account-Based Marketing – The Future

Above all, ABM is finally about the customer. A fact that business professionals should focus on is that buyers are not looking for a cold call or a random marketing email, rather they want to explore the solutions for their pain points on their own terms and only receive communications from vendors that are meaningful and relevant. ABM makes it easy to deliver on this need across the buyer’s journey.