Digital marketing is made up of several components.
Year after year, an increasing number of marketing opportunities are made available on the internet. And this is due to the fact that people are developing and adopting new technologies, as well as exploring novel ideas. As a marketer, the number of options available to you can be almost overwhelming at times. Now, in this tutorial, we’ll look at the most important aspects of digital marketing, but the concepts will be applicable to various other fields.
Always keep in mind that your marketing strategy does not have to include every marketing channel that is currently in operation. It is possible that you will only use a few of the strategies we discuss in this article, or you may find success in leveraging other avenues that are not included in these core components. With such a diverse range of options, it’s critical to determine which channels make the most sense for your situation.
You may need to prioritize which channels to begin with if you are working with limited resources. In the same vein, if you’re considering trying out a new channel, it’s a good idea to think about how it will affect your day-to-day activities. To do so, I like to evaluate each channel based on the amount of effort it will take to build it out and the amount of value it will provide.
We can then plot them on a matrix using the information we have gathered. To demonstrate what I mean, let’s take a look at four aspects of our online marketing strategy: search engine optimization, search marketing, social media, and video marketing. Identifying which channel will be used for these areas is the first step we must take. As a result, we’re going to concentrate our SEO efforts on Google. Google AdWords will be used for search marketing purposes. Likewise, when it comes to social media, I’m going to start with Facebook.
After that, we’ll use YouTube to host the video.
So let’s put these four on a table together. Following that, we must rate the effort on a scale of one to six, with six representing the greatest amount of effort and one representing the least. We’ll also consider the monetary value. Which of the following is most likely to provide the greatest return on investment? Now, because these scores are specific to your company, I’m only going to assign some numbers to serve as an example for you to consider. Now that we have our results, let’s think about how we might spend our remaining time.
In order to accomplish this, we’ll create a six by six grid with one axis representing effort and another representing value. The numbers one through six will be assigned to each row and column on the chart because we’re using one to six scales. Now, if we divide this into four separate sections, we have a visual representation of the relationship between effort and value. The top left corner represents low value and low effort. And the bottom right corner represents a high value and high effort.
Taken together with our scores from the previous table, we can plot where each of these marketing channels will land. Given that I gave Google a five-star rating for value and a four-star rating for effort, I’ll include it in the appropriate section. I’ll go through the same procedure for AdWords, YouTube, and Facebook. Making decisions about our time is made easier now that we have the entire matrix at our disposal. Take things in the high value, low effort section of the matrix as a starting point and work your way up the matrix as you go.
Keep in mind that just because something requires a lot of effort and yields little reward does not rule out the possibility of it being worthwhile. We’re simply comparing how well they stack up against one another. Even if the value is low, there could be a significant return on investment. Rather than being as significant as something in the high-value section, it is simply less significant.
The current state of digital marketing
As you evaluate the possibilities that online marketing offers, I believe it’s beneficial to first consider the history of digital advertising and then to consider the current landscape of the industry. In the early 1990s, the use of digital advertising became widespread. Customers of Prodigy, an online service provider, have noticed that display banners for Sears products have begun appearing at the bottom of their screens.
At the time, they were similar to magazine advertisements in that they were visually appealing but not interactive. An advertising law firm in Silicon Valley created the world’s first clickable advertisement in 1993, and things took off from that point on. It wasn’t until 1998, when the first search advertising keywords became available through a company that was eventually acquired by Yahoo!, that web banner advertising became widely accepted.
Once Google AdWords was launched in 2000, the rest of digital marketing was put in its proper perspective. The components of the digital marketing landscape have shifted dramatically since 2000 to include social media, video advertisements, interstitial advertising, and an entirely new marketing methodology centered on the idea of creating and promoting content rather than just advertisements. We’ve seen completely new platforms dedicated to improving ads, tracking ads, and serving ads gain a significant amount of market share in recent years. Mobile advertising hit its stride in 2010, and spending on mobile advertising has increased by nearly 90 percent each year since then.
Individuals are spending longer periods of time online as the adoption of digital media continues to rise. This means that the number of digital channels is growing rapidly and with it the allure of digital marketing. Back in 2000, it would have been extremely difficult to make the decision to promote yourself online, but today, it would be insane not to do so. Over the course of these years, we’ve witnessed some truly remarkable shifts in how people respond to online marketing, and as for the present, we have a pretty good picture of the current landscape as well.
The first thing to note about search is that it is the number one source currently used when making a purchase decision, and this is true for everyone from consumers to high-level business decision-makers. The visibility of your website in search is most likely the most valuable real estate on the internet, and because searchers are expressing intent, they are an ideal target audience for your business.
Paid search is also extremely popular these days. Organic results take a long time to appear, but they are extremely valuable, which is why many businesses want to jump to the front of the line by paying for the privilege of appearing first. Paid search is a critical component of today’s digital landscape, and Google AdWords is the current leader in terms of where you can buy ads.
Email was once considered to be a marketer’s dream come true.
In the early 2000s, having a high-quality email list was extremely valuable. It is still effective, but it must be user-friendly on mobile devices. As a result, nearly 70% of all emails are opened on a mobile device, indicating that the landscape has significantly changed.
In addition to mobile email, the digital marketplace requires a mobile-friendly website. In addition, we’re seeing a significant increase in marketing automation. These concepts include automated bidding based on results, automatic remarketing to people who have previously visited your site, and even the creation of custom advertisements that are specific to what a user was previously searching for on the internet.
Automation will continue to evolve over the next couple of years, and it is likely to remain a critical component of your marketing toolkit for the foreseeable future. Social media is still proving to be beneficial for a variety of businesses. Despite some consumer backlash against social media advertisements and the way in which networks are organizing their feeds, this marketing style is still evolving and will likely continue to be very popular in the future, according to the eMarketer.
Finally, we’ve reached the pinnacle of content marketing development.
When done properly, creating high-value content for audiences has been shown to generate significant returns on investment. Users have stated that one of the top three reasons they follow a brand is because of the interesting content that the brand produces. Now, it appears that content marketing is undergoing a resurgence in terms of popularity.
Consumers are becoming increasingly wary of sensational headlines, and it is possible that they are responding less effectively to previous techniques. It’s critical to keep up with the ever-changing landscape of online marketing. As new fashion trends emerge, experiment with them to see how they perform for your company.
This is referred to as the marketing funnel.
When it comes to marketing, we talk a lot about the funnel. In order to better understand the funnel, let’s first take a closer look at it. Really, a funnel is just a visual representation of a customer’s journey as they move closer to purchasing your product or service. The top of the funnel, or the widest point of the funnel, is where a buyer begins their purchasing process.
And it’s at the bottom, in the narrowest part, that they finish it. As marketers, our goal is to convert prospects into buyers by moving them from the top of the funnel to the bottom of the funnel. Given that a large number of people will never complete the journey through the funnel, the funnel’s design reflects this fact. You’ll expose a large number of people to your product or service at the beginning of the funnel, but only a small percentage of those people will actually convert.
Now, we tend to categorize the funnel into four categories: awareness, interest, desire, and action (or taking action). At the top of the list is awareness. Two things must be brought to the attention of a prospect: their problem and your solution. At this point, your brand is exposed to the prospect along with the products of your competitors. We also have interest, which is a subset of awareness. A consumer will begin to investigate the products or services that are available to them at this point.
Following that comes to desire, which we can also refer to as consideration. In this stage, a prospect is looking to make a purchase, which may or may not be with your company. They’re nearing the end of their decision-making process about whether or not to commit. Finally, there is action. They’re either going to buy something or they’re not. They may choose your company over another, or they may decide that they will not make a purchase at all based on their research and findings.
Now, this is the foundational funnel, and the different segments are referred to as the top of the funnel, middle of the funnel, and bottom of the funnel, respectively. You have a customer who is on the verge of making a purchase as they near the bottom of the sales funnel. Bottom funnel marketing is concerned with identifying consumers who are in the process of making a purchase and then converting them. You’re primarily concerned with bringing in new leads at the beginning of the funnel.
Without any top-of-the-funnel marketing, there will be no one coming out of the other end of the funnel. And, as you might expect, middle-of-the-funnel marketing is responsible for keeping the nurturing process moving forward, allowing those leads to progress from the top to the bottom of the funnel. It’s important to note that the funnel is not a rule; rather, it is a method of visualizing the various states in which a consumer’s mindset exists and guiding them through the buyer’s journey.
The buyer’s journey is described here.
After learning that the funnel is a method of evaluating the buyer’s journey, we now have a clear understanding of each step within the funnel and how it relates to our target customer. Having said that now is the time to put this knowledge into action, to put it into practice so that we can influence how consumers move through the funnel, as well as how we activate these consumers within each stage.
As a result, we’ll map our marketing efforts to each stage of the funnel in order to achieve this. To make sure that we have adequate coverage, that our messaging is effective in moving consumers in the right direction, and that we are not doing anything to impede that progression, we conduct regular audits. Prior to doing so, we must first gain a better understanding of the buyer journey in order to determine the type of marketing to employ at each stage of the journey.
This requires further research.
When you understand the journey, you will be able to determine where to deploy solutions. It is true that the funnel has assisted us in understanding the steps they will take, but there is still a journey within those steps, and a user can have many touchpoints within each stage, leading to scenarios where users wander aimlessly if we are not careful to design them carefully. In order to effectively move the user down the funnel, the journey must be systematic and reflect the notion that we are moving the user downwards within it.
From our understanding, a buyer will go through the stages of awareness to action and then hopefully to loyalty, which is a stage that we haven’t really talked about much yet. It is only after a user converts that you can tell if they have remained loyal to your brand. The question is, how does the buyer journey look like during each of these stages? How did the buyer become aware of the situation? Was the product on the shelf visible to them when they walked into the store? Perhaps one of their friends informed them of the event.
Is it possible that they clicked on a social media advertisement? Is there a competitor’s product next to yours if they see something on the shelf that they like? If that’s the case, what impact does it have on their journey? When they’re looking at an ad, are there any other ads running alongside yours, and what effect does this have on their journey? The customer may now be comparing your product to the one in front of them; if this is the case, are they comparing it on the basis of cost or benefit? It’s possible that the buyer is moving up and down the funnel; there are so many variables that we as marketers are trying to take into consideration.
Consider all of the steps that are involved in the decision-making procedure. Within each stage, they’ll chart their own course, interact with various brand touchpoints, and, hopefully, progress to the next stage of the funnel.
Consumers are being exposed to an excessive amount of everything as a result of the proliferation of mobile devices and digital connectivity. They have easy access to a wealth of information, and they are constantly inundated with messages from advertisers.