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What is digital marketing? Digital marketing is the gateway between electronic technology and marketing psychology. The promotion of products or brands via one or more forms of electronic media. For example, advertising mediums that might be used as part of the digital marketing strategy of a business could include promotional efforts made via the Internet, social media, mobile phones and electronic billboards, as well as via digital and television and radio channels. The Internet is an interactive medium. It allows for the exchange of currency, but more than that, it allows for the exchange of value. A business on the Internet can gain value in the form of time, attention and advocacy from the consumer. For the user,value can be added in the form of entertainment, enlightenment and utility; content marketing is one powerful way to create value. Consumers are increasingly more fluent in their movement across channels and in their use of multiple of channels at once. They expect the same from the brands with which they connect. Anyone still thinking in the old ‘traditional versus digital’ dichotomy is sorely out of date. However, marketing on the Internet does not mean throwing out the rule book on marketing and business principles. Instead, the Internet provides a new environment in which to build on these. Profit is still revenue less cost. The Internet does not change that. Brands build loyalty among users who love their products or services. Users fall in love with products and services when their experience is tailored to their needs, and not the needs of the brand. More than any other type of marketing, digital marketing is measurable. This gives brands the opportunity to build tailored, optimised brand experiences for consumer Key Terms of Digital Marketing Digital Media Digitized content (text, graphics, audio, and video) that can be transmitted over internet or computer networks. Digital Medium Physical material such as a CD, DVD, disk, or hard disk, used for archiving or storage of digitized data text, graphics, audio, and video files. Digital Radio Transmission Digital radio transmission with a bandwidth of 33 to 38 gigahertz (GHz) and, depending on the size of the dish (antenna), a range of up to seven miles. Digital Money A method of payment that is executed electronically, such as over the Internet. PayPal and similar services are forms of digital money. Digital Rights: Copyrights associated with digitized content (such as music or written works) published and/or distributed online over internet or other computerized communication networks. Digital Rights Management- Technology through which the owner of a copyright can determine how, when, and how-often a buyer can use the copyrighted digitized content. Digital Signage- Display of text and/or images, shown in digital formats over the internet or on television. Digital signage is commonly used to advertise products or services as they can offer more animations to entice consumers. Digital Signal- Discrete or discontinuous consisting of 'on' and 'off' states. In comparison, an analog signal is a continuous wave that fluctuates infinitely within its frequency range. Digital Signal Processing- The process of converting analog transmissions into digital signals. The audio transmissions are processed in real-time and provide a clearer signal after the conversion. This conversion method uses complex algorithms and digital conversion software to receive and process the signal. The output results in a number of different sound effects. This type of processing is present in a number of audio devices such as radios, mp3 players, and surround sound systems. Digital Signature Binary code that, like a handwritten signature, authenticates and executes a document and identifies the signatory. A digital signature is practically impossible to forge and cannot be sent by itself but only as a part of an electronic document or message. In the US, electronic confirmation of signatures is legally acceptable from October 1, 2000 under the 'Electronic Signatures In Global And National Commerce Act' (also called 'E-sign Act'). The act gives full legal weight to electronic technologies that ensure authentication, confidentiality, data integrity, and non-repudiation, and directs courts to consider the electronic records on the same legal footing as the paper records. Digital Store Front Website that offers goods and/or services for sale, and which the customers or 'window shoppers' can visit at any time and from anywhere. Also called cyber storefront, electronic storefront, e-storefront, online storefront, virtual storefront, etc. DIFFERENCE BETWEEN TRADITIONAL MARKETING AND DIGITAL MARKETING The Downside to Traditional Marketing(Limitations) There is very little interaction between the medium used and the customers. It is more of providing information to the public that the brand exists with the hope of these people patronizing the brand. Print or radio advertisements can be very costly. Printing materials can be expensive and you need to hire people to distribute these. Results on this marketing strategy cannot easily be measured. Was the campaign successful? Benefits of Digital Marketing Over Traditional Marketing User can target a local audience, but also an international one. Further, User can tailor a campaign to specific audience demographics, such as gender, location, age and interests. This means our campaign will be more effective. Your audience can choose how they want to receive your content. While one person likes to read a blog post, another person likes to watch a YouTube video. Traditional marketing doesn't give the audience a choice. Most people hate receiving sales flyers in their mailbox or phone calls at inconvenient times on stuff that they have little interest in. Online people get the choice to opt in or out of communications and often it is relevant because they were the ones searching for it in the first place. Don’t underestimate the power of market segmentation and tailored marketing. Interaction with your audience is possible with the use of social media networks. In `fact, interaction is encouraged. Traditional marketing methods don't allow for audience interaction. You can encourage your prospects, clients and followers to take action, visit your website, read about your products and services, rate them, buy them and provide feedback which is visible to your market. Digital marketing is cost-efficient. Though some invest on paid ads online; however, the cost is still cheaper compared to traditional marketing. Data and results are easily recorded. With Google Analytics and the insights tools offered by most social media channels, you can check on your campaigns at any time. Unlike traditional marketing methods, you can see in real time what is or is not working for your business online and you can adapt very quickly to improve your results. Level playing field: Any business can compete with any competitor regardless of size with a solid digital marketing strategy. Traditionally a smaller retailer would struggle to match the finesse of the fixtures and fittings of its larger competitors. Online, a crisp well thought out site with a smooth customer journey and fantastic service is king – not size. Real time results: you don’t have to wait weeks for a boost to your business like you would have to waiting for a fax or form to be returned. You can see the numbers of visitors to your site and its subscribers increase, peak trading times, conversion rates and much more at the touch of a button. Brand Development: A well maintained website with quality content targeting the needs and adding value to your target audience can provide significant value and lead generation opportunities. The same can be said for utilising social media channels and personalised email marketing. Viral: how often do your sales flyers get passed around instantly by your customers and prospects? Online, using social media share buttons on your website, email and social media channels enables your message to be shared incredibly quickly. If you consider the average Facebook user has 190 friends of which an average of 12% see their liked posts – your one message has actually been seen by 15 new prospects. Now imagine a number of them also like and share your message and their friends do the same? That's why high-quality content is so important. How We Use Both Digital & Traditional Marketing Our traditional marketing methods support our digital marketing efforts. The two do not operate in exclusion from each other. But we only use hard copy marketing materials (Traditional marketing)to further strengthen a relationship with a contact, referral partner or client. We don't invest in television or radio ads, for example, but we will give brochures(Traditional marketing) to someone who is interested in our services. Rather than taking an all or nothing approach, it appears that a multi-channel approach that leverages the unique benefits of paper with the convenience and accessibility of digital will perform best.