Social Media Marketing - The term 'Digital Marketing' has a number of marketing facets as it supports different channels used in and among these, comes the Social Media. When we use social media channels ( Facebook, Twitter, Pinterest, Instagram, Google+, etc.) to market a product or service, the strategy is called Social Media Marketing. It is a procedure wherein strategies are made and executed to draw in traffic for a website or to gain attention of buyers over the web using different social media platforms.
A vision statement is a realistic, long term future scenario for the organisation. (Vision statements should not be confused with slogans or mottos.) A vision statement is designed to present a realistic long-term future scenario for the organisation. It is a "clearly articulated statement of the business scope." A strong vision statement typically includes the following:
Using Dr Dave Chaffey's approach, the digital marketing planning (DMP) has three main stages: Opportunity, Strategy and Action. He suggests that any business looking to implement a successful digital marketing strategy must structure their plan by looking at opportunity, strategy and action. This generic strategic approach often has phases of situation review, goal setting, strategy formulation, resource allocation and monitoring.
Strategic planning typically begins with a scan of the business environment, both internal and external, this includes understanding strategic constraints. An understanding of the external operating environment, including political, economic, social and technological which includes demographic and cultural aspects, is necessary for the identification of business opportunities and threats. This analysis is called PEST; an acronym for Political, Economic, Social and Technological. A number of variants of the PEST analysis can be identified in literature, including: PESTLE analysis (Political, Economic, Social, Technological, Legal and Environmental); STEEPLE (adds ethics); STEEPLED (adds demographics) and STEER (adds regulatory).
Marketing is the process of teaching consumers why they should choose your product or service over those of your competitors, and is a form of persuasive communication. It is made up of every process involved in moving a product or service from your business to the consumer. Marketing includes creating the product or service concept, identifying who is likely to purchase it, promoting it, and moving it through the appropriate selling channels. There are three primary purposes of marketing: What Is Digital Marketing?
Marketing is defined by the American Marketing Association as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large". The term developed from the original meaning which referred literally to going to market with goods for sale. From a sales process engineering perspective, marketing is "a set of processes that are interconnected and interdependent with other functions of a business aimed at achieving customer interest and satisfaction".
After setting the goals marketing strategy or marketing plan should be developed. The marketing strategy plan provides an outline of the specific actions to be taken over time to achieve the objectives. Plans can be extended to cover many years, with sub-plans for each year. Plans usually involve monitoring, to assess progress, and prepare for contingencies if problems arise. Simultaneous such as customer lifetime value models can be used to help marketers conduct "what-if" analyses to forecast what potential scenarios arising from possible actions, and to gauge how specific actions might affect such variables as the revenue-per-customer and the churn rate.
Key Ideas: Each business is unique and that there can be no formula for achieving competitive advantage; firms should adopt a flexible planning and review process that aims to cope with strategic surprises and rapidly developing threats; management's focus is on how to deliver superior customer value; highlights the key role of marketing as the link between customers and the organisation.
In the 2000s, with increasing numbers of Internet users and the birth of iPhone, customers began searching products and making decisions about their needs online first, instead of consulting a salesperson, which created a new problem for the marketing department of a company. In addition, a survey in 2000 in the United Kingdom found that most retailers had not registered their own domain address. These problems encouraged marketers to find new ways to integrate digital technology into market development.
A content marketer, for example, can create a series of blog posts that serve to generate leads from a new ebook the business recently created. The company's social media marketer might then help promote these blog posts through paid and organic posts on the business's social media accounts. Perhaps the email marketer creates an email campaign to send those who download the ebook more information on the company. We'll talk more about these specific digital marketers in a minute. How To Get Into Digital Marketing (And Earn A Full-Time Income With It)
Marketing is the process of teaching consumers why they should choose your product or service over those of your competitors, and is a form of persuasive communication. It is made up of every process involved in moving a product or service from your business to the consumer. Marketing includes creating the product or service concept, identifying who is likely to purchase it, promoting it, and moving it through the appropriate selling channels. There are three primary purposes of marketing:
Growing a business isn't easy. First, you need a viable idea. From there, you need to discover a profitable niche, define a target demographic and have something of value to sell them. Whether you're peddling products, services or information, getting the word out has become increasingly burdensome. And without the right marketing strategies to fuel your growth, churning a profit and staying afloat is virtually impossible.
Point-of-purchase marketing strategy includes placing your product where customers make the most purchase. You must have noticed that many small products are being placed near the cash counter. This is done intentionally so that people make an impulse purchase. In addition to this, you must have experienced cashier who tried to sell your product. This is another example of POP marketing.
PPC advertising enables marketers to reach Internet users on a number of digital platforms through paid ads. Marketers can set up PPC campaigns on Google, Bing, LinkedIn, Twitter, Pinterest, or Facebook and show their ads to people searching for terms related to the products or services. PPC campaigns can segment users based on their demographic characteristics (such as by age or gender), or even target their particular interests or location. The most popular PPC platforms are Google Ads and Facebook Ads.
The new digital era has enabled brands to selectively target their customers that may potentially be interested in their brand or based on previous browsing interests. Businesses can now use social media to select the age range, location, gender and interests of whom they would like their targeted post to be seen by. Furthermore, based on a customer's recent search history they can be ‘followed’ on the internet so they see advertisements from similar brands, products and services, This allows businesses to target the specific customers that they know and feel will most benefit from their product or service, something that had limited capabilities up until the digital era.
This type of marketing strategy is used to gain resurgence in the audience in a short span of time by hacking into one of the internet marketing strategies. There are many professionals who can do this job for you in return for money. One method is to try several marketing strategies simultaneously. You can get a huge amount of data by following this technique.
Prioritizing clicks refers to display click ads, although advantageous by being ‘simple, fast and inexpensive’ rates for display ads in 2016 is only 0.10 percent in the United States. This means one in a thousand click ads are relevant therefore having little effect. This displays that marketing companies should not just use click ads to evaluate the effectiveness of display advertisements (Whiteside, 2016).
Influencer marketing: Important nodes are identified within related communities, known as influencers. This is becoming an important concept in digital targeting. Influencers allow brands to take advantage of social media and the large audiences available on many of these platforms. It is possible to reach influencers via paid advertising, such as Facebook Advertising or Google Adwords campaigns, or through sophisticated sCRM (social customer relationship management) software, such as SAP C4C, Microsoft Dynamics, Sage CRM and Salesforce CRM. Many universities now focus, at Masters level, on engagement strategies for influencers.
The development of digital marketing is inseparable from technology development. One of the key points in the start of was in 1971, where Ray Tomlinson sent the very first email and his technology set the platform to allow people to send and receive files through different machines. However, the more recognisable period as being the start of Digital Marketing is 1990 as this was where the Archie search engine was created as an index for FTP sites. In the 1980s, the storage capacity of computer was already big enough to store huge volumes of customer information. Companies started choosing online techniques, such as database marketing, rather than limited list broker. These kinds of databases allowed companies to track customers' information more effectively, thus transforming the relationship between buyer and seller. However, the manual process was not as efficient.
A strategic business unit (SBU) is a subsidiary within a firm, which participates within a given market/industry. The SBU would embrace the corporate strategy, and attune it to its own particular industry. For instance, an SBU may partake in the sports goods industry. It thus would ascertain how it would attain additional sales of sports goods, in order to satisfy the overall business strategy.
Typically the firm will attempt to leverage those opportunities that can be matched with internal strengths; that is to say the firm has a capability in any area where strengths are matched with external opportunities. It may need to build capability if it wishes to leverage opportunities in areas of weakness. An area of weakness that is matched with an external threat represents a vulnerability, and the firm may need to develop contingency plans.
Advertising, or promotion, is only one component of your marketing plan. The marketing process begins with the idea for your product and continues until that product is in the hands of a consumer who bought it. Even after a customer has made a purchase, your marketing shouldn't end—a portion of your advertising should be targeted at current customers to ensure they remain customers and increase loyalty.
Instead, you need your marketing team to do market research and answer some critical questions: Who's your target audience? Is there market fit for this product? What messaging will increase product sales, and on which platforms? How should your product developers modify the product to increase likelihood of success? What do focus groups think of the product, and what questions or hesitations do they have? Digital Marketing 101: A Beginner's Guide