Understanding what Digital Marketing is and how it works is essential for businesses that want to scale to know how to help customers make the best decision according to their needs.
What are the 5 D's of digital marketing?
Digital marketing revolves around these 5Ds: digital community, digital analytics, digital content, digital discovery & digital conversations.
Digital Community: With many social media platforms, we can build our own community and be connected with our customers through different channels like Facebook, Instagram, and Pinterest, depending on where your customers interact the most.
Digital Analytics: Understanding users’ performance to your website, how many readers you have on each blog post, and engagement metrics can help you measure your success and improve.
Digital Content: Creating content has become a challenge for a lot of companies. The formula to success here is quality; the more you know about something related to your industry, the better it will perform. You need to have a strategy for what type of content you need on every stage of your customer’s journey.
Digital Discovery: Here is where search engines join our conversation, how your customers will find your product through paid advertising or organic search strategy. You can learn how Google search works: Click here.
Digital Conversation: This means your conversation with the customer, it’s important to remember that each of the platforms like email, social media, or a text message is just the channel to connect with, but we need to make it as personal as possible to start building a long term relationship.
Is Digital Marketing a marketing strategy?
Digital Marketing is how you communicate your brand’s value proposition, work culture, and product portfolio through digital platforms like email, social media, search engines, mobile and web applications.
A Marketing Strategy is the main project to achieve S.M.A.R.T. goals (Specific, Measurable, Attainable, Relevant, and Timely) for each digital platform.
What are the 4 types of marketing strategies?
- Market penetration: This is when you want to promote your services and products to the existing market.
- Product development: There is an opportunity in the market, and you want to increase your product portfolio to fulfill that need
- Market development: To enter new markets with your existing products.
- Diversification: A Strategy to concentrate in new markets with new products
What are the 4 P's of digital marketing?
- Product: This is what you are offering to the market. It can be a tangible product or service like consulting.
- Place: Where customers can find your products or services? If they go to your store or are online.
- Price: How much your customers pay for your brand?
- Promotion: The distribution strategy to let customers know about your business.
How do banks use digital marketing?
- Personalization: According to a study, 73% of consumers already expect specialized treatment for being a good customer.
- AI and Machine Learning: Using chatbots, voice search, marketing automation tools, and AI-generated content.
- Mobile Marketing: Geo-targeting and developing analytics to understand customer behavior.
What are the types of digital marketing?
- Owned Media: Social Media Profiles, Website, Blog, Mobile site, email.
- Earned: Reviews, Recommendations, Testimonials, Social Media, Engagement (tweets, shares, comments).
- Paid Media: Podcasts, Pay per Click, Display Ads, Banner Ads.
What are the fundamentals of digital marketing?
- Educate: Content that helps your customer benefit from your product or service, industry trends, and testimonials.
- Personalization: Have a personalized messaging strategy.
- Research: Be up to date with what is happening to the competition, market, and customer satisfaction to increase retention rate.
What are the benefits of digital marketing?
- Tracking: When the only option was to advertise through billboards or tv commercials, there was no option to learn how successful because it was hard to measure. With digital marketing, we can now see how many users are clicking, reading, and converting.
- Exposure: You can get exposure with a creative strategy and offer something valuable to the market.
- Scalability: With a good digital marketing strategy, you can skyrocket your sales.