Digital Marketing is expensive. Period. It’s not cost effective either. But it is the only way your business’s on ground marketing would reap you benefits. For all that is known or unknown about the age old craft of digital marketing, it is a game of patience. And the winner wins the trust of existing and prospective customers. The value derived from this exercise is unlikely to generate from other methods, and has worth more than one can figure.
But what does Digital Marketing mean for a business man. It certainly does not mean that only the big fishes can or need to have it. The dynamism of this marketing technique allows ventures of all sizes to participate, and compete with businesses their size. But before the exploration begins, let’s try and understand what digital marketing is.
Digital marketing can be traced back to the 1980s when computers became capable enough to store large volumes of information about customers. This shift in technology, changed the strategy from pushing the product, to making relationships. If today someone asks us, why digital marketing, We say, its to make a relationship with your customers that goes deeper than a one time sale.
In 1995, 16 million people were using the internet, and spent an average of 30 minutes on it. By 200, this rose to 558 million followed by Google going public and the launch of smartphones. The smart phone changed the face of digital marketing. Before it, advertisers could tap the personal computer audience. After it, advertisers could form a two way relationship with their prospects and clients.
For the common man, digital marketing means reaching the consumer at the right time, right place and in the right manner. Through Facebook, Google, Instagram and other people sites, companies today can reach a prospective customer with their product, even before the customer starts looking out for the product. For inspiration, companies today would know when a small area in a city is going to need cough syrups, solely by understanding the internet search patterns. These patterns are then used in planning digital marketing campaigns, and purchasing keywords (words that people may use to search for a topic, e.g. cough and cold). The moment a user
searched for the treatment of cough and cold, xyz company’s cough syrup’s advertisement would pop up, even above a doctor’s recommendation.
This advertising power is not limited to google only. Imagine a social networking or media site, and there would be a way to get your products advertised there. This opens up new markets and frontiers for businesses and companies. Digital Marketing, or D.M, as this generation calls it, empowers businesses to reach out to the right prospect, saving invaluable resources like time, creativity, and valuable resources like money. D.M helps build trust amongst communities and companies, but all it requires to fruit is patience. Its akin to sowing a seed that reaps benefits after a few months of watering. After which, it becomes self-sufficient with little care now and then.