In this Article: BluEagle owner Fareed Shakhatreh is going to write about the importance of digital marketing and the danger of ignoring applying it.
Why you need digital marketing?
Marketing is the strategy that determine company success or failure, it is where magic happen. without marketing strategy there is no business. Why companies need strategy, Because of competition, without building your marketing strategy your competitor will dominate the market and no company can survive. In war countries spend a lot of time studying the enemy and building strategy on how to deal with them, Same principle apply in business your enemy is your competitor and you need to spend quite some time studying your competitor so you can build the right strategy on how to differentiate yourself in the market place in order to make competition is irrelevant. The product should have competitive advantage to win in the market, but without real marketing planning there is no hope of success, In Finland they have good engineers, research and development centres, good school and universities, but because of lack of good marketing strategy many of their innovation can not see the light of success. It is not enough to have all the skills and knowledge to create great product if you ignore marketing strategy products is not going to survive, but if you have lousy product with good marketing strategy it eight win the market for some time, but the opposite can not happen, In war many warriors win war with less equipment and facilities because they build good strategy, they studied the enemy, they hide their weakness and create some stories and rumours that give scary image to enemy.
Digital transformation is the new revolution
Digital transformation is the new revolution after industrial and agricultural revolution, every industry or business model has to follow the new trend of digitizing their services and process to increase efficiency and the time consumed, digital transformation has been focused on many sectors like banking system, online sale, like amazon, eBay and Alibaba, supply chain and value chain has been automated to save time and money, distance is not an obstacle anymore, you can buy from any where any time with big variety and options just by using mobile or laptop. Involving internet of things IoT, which connect several operations or equipment through different sensors, actuators or data centres to make automated decision in real time. Digital marketing has been used efficiently through social media, YouTube, web-page, blogs, google Adware, mobile apps and some other platforms uses internet.
Any marketing method using internet or online services is called digital marketing like social media apps, YouTube, email newsletter, mobile apps, websites, google adware, google analytics, search engines, and so on. Offline marketing like tv, radio, newspaper, word of mouth, personal sale or direct sale is considered as traditional marketing.
digital marketing easily can reach to more audience, customizing target audience by using different parameters like location, age, gender, occupation and etc can save money and increase marketing efficiency while in traditional marketing it is difficult to customize the right audience. Engagement level is higher and can be traced and measured through different analytical tools, for example when prospect see product in YouTube channel or Facebook then he will click right away to the product link and try to buy it or read about it which can tell that engagement rate is very high, while in TV and radio you can not search the product immediately. Cheaper price since it is customized marketing channel that target right segment while traditional marketing is random marketing and target everyone and can be noisy and disturbing for many others audience who is not interested. Return of investment can be easily measured by calculating conversion rate per one dollar spent on marketing.
Marketing Strategy Principles
In business Marketing strategy has principles and rules based on Brian Tracy:
Company must be specialized in certain area to solve problem to a certain type of customers. Differentiation is the one thing that give an edge against your competitor, is the thing that you can do, but competitor can not do. Segmentation start with describing who is the customer in details, studying customers demographics carefully and collecting enough information about there age, gender, occupation, education, location, income and family status. Studying customers psycho-graphics like there goals, dreams, fears, worries, doubt, problems to be solved, aspiration and motivations in life, the right customer is the one going to value your product or service and ready to pay for it. Concentration is to focus all your resources and efforts on a certain product or service that solve real existing problem, advertising material that specify strength and problems to be solved, using carefully the right marketing channel, building good arguments and marketing continents around your product and service, making competition irrelevant, building customer reviews questionnaire to keep improving product and service, product or service has to be unique and targeting the right customer group, where and how you can find right customer and figuring out right method of communication.