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What is Digital Marketing?
Digital marketing uses online channels or platforms to exchange information. This information is about the products and services. it also includes values for your audience in a cost-effective manner. It’s all about building a strong plan around and achieving marketing goals for your business. Digital marketing has proven to build a strong, loyal customer base. It is more data driven.
Digital marketing has changed a lot in the past 2 to 3 years than it did in the past 50 years. Many industries are trying to rip the benefits of digital marketing. Not all the digital strategies work in your favor.
Digital Marketing strategy consists of various steps or courses of action. These actions are to be taken to reach a specific end goal of marketing. You need to have business objectives and priorities to determine your end goal. Once your goals are decided, you can make a decision on your digital marketing campaigns and execution to achieve the end results.
For executing digital marketing campaigns, you need to have a well-planned blueprint. It has to be of your digital marketing strategy to achieve the set goals. Campaigns are a part of strategies and they are nothing, but tactics used to achieve the short-term goals.
Do you have any idea about which digital strategies are effective and work the most for businesses? Without further ado, let us dig deeper on these top strategies for digital marketing.
1. SEO – Search Engine Optimization
2. Content Marketing
3. Email marketing
4. Social media marketing
5. Pay-Per-Click PPC Marketing
6. Video Marketing
7. Influencer marketing
With that being said, it can be understood, digital marketing revolves around the cooperation of customers too. Which is why, the 5 D’s come into picture. It is vital to understand where digital marketing stands in the future. It is of utmost importance to understand the customer or audience interaction. To understand the customers’ interactions, we need to have a closer look at these 5 D’s.
Let us have a look at the 5 D’s of digital marketing:
1. Digital Devices
2. Digital Platforms
3. Digital Media
4. Digital Data
5. Digital Technology
B2B V/S B2C
What is B2B Marketing?
B2B – Business to business marketing. The basic understanding which we get from B2B business is selling products and services to other businesses. So, the primary customer is another business. And it isn’t the regular customer or consumers.
B2B marketing is all about logical decisions, facts-based purchase. It is mostly process driven. It is more about facts, data, statistics and numbers than about emotions. B2B marketing can get difficult at times. The decisions from the buyer’s side can take months or years to buy your products or services.
To get buyers from different departments like purchasing, marketing, legal, accounting and others can be difficult. B2B marketers make sure that all their efforts are moving towards the teams. And these teams take decisions on purchases representing their companies.
Check out these examples for better understanding:
1. A startup that specializes in digital marketing, software development, website development and other things required by various businesses.
2. An automobile parts manufacturing company, providing major parts to an Automobile manufacturing company.
What is B2C Marketing?
B2C – Business to Consumer. The basic understanding which we get from B2C business is selling products and services to primary consumers. It is different from B2B. So, the customer is the individual consumer and not an entire business.
Here, the decisions are more emotion-driven while making the purchases. B2C is about satisfying consumers’ needs, desires and resolving issues by addressing their pain points.
B2C marketing cycles are shorter. As the product or service is directly given to the customer, there strategies and tools used to promote the product or service. Amazon, Google, Walmart and others.
Digital Marketing B2B VS B2C
1. Branding your Business
Branding comes with relationship building. It is very essential for B2B marketing. But for gaining a better status and rank, you need to figure out where you stand. Once you are out there in the market well positioned, you can drive more sales and have better leads.
Branding does not come easy fro B2b or B2C. You have to be consistent at presenting yourself worthy. You should give out the best product and service.
How will you ramp up your branding? You need to have a better understanding of people and their personalities. It will be easy to know details to market yourself well.
You can adjust your brand presence according to your audience. Which indeed is another business entity. This will generate leads and ramp up the sales.
B2C as compared to B2B is all about delivering your product and service to the customer. A marketer has to present the brand very precisely to the customer. Delivering a good message and experience will generate trust amongst the customers. It also builds loyalty, credibility and an emotional connection with the customers.
A brand and the customer have a very low interactive session. So, it is really important to create an experience which has a long lasting and motivating impression. A customer should come running back to the brand when they require a service or product.
2. Relationship with customers
B2B marketing is mostly about building personal relationships unlike B2C. Also they will help in the betterment of the business. Lead generation is another crucial part to take into consideration.
During the buying cycle, the built relationships will play an important role. Building relationships will require you to show your ethics, values and practices that you stick to. This will help you stand out differently. It will show how different you are from your competitors and other client’s business.
Again, generating leads is the top priority in B2B marketing. This comes through building relationships. These relationships will either break or make your business and bonds. You will find bad reviews on Google and it is very hard to take down. Generating honest leads and meaningful relationships will help you avoid these bad reviews.
Although negative reviews are helpful. It shows your product or service is authentic and not fake. Also, it gives a better understanding and depth of the business.
Getting customers close to your product on any online platform is the main motto. Platforms like website or eCommerce or social media help drive sales in B2C marketing. But how will the customer try buying online? Your customer needs proper guidance for this. Along with that, an amazing customer experience on the site too.
The major goal here is to deliver high quality products. You should attain the customer’s expectations. As B2C is value efficient, try to lessen the time engaged in understanding the customer and focus on needs.
Talking about the reviews, the bad reviews are covered up by the good reviews here. And if you are giving out good products, then the reviews shouldn’t be a problem. What has worked most is the store credit offered, and discounts via email marketing.
Make sure that you send emails or messages or other mediums to reach your customers asking for their experience. This helps you perform better. And along with these feedback collections, offer them discounts over feedback.
3. Marketing funnel
Demographics play an important role in the B2B market unlike B2C. It is highly focused on the niche market. You need to collect accurate data of your target audience. Analyze this data and understand the needs. This will help you allure a better customer.
Data could be qualitative and quantitative both. Google analytics is a great tool to analyze data. Doing a deep research on keywords will help you understand what the audience is expecting.
Go through different SERPs and collect data from these search engines. Use keywords on these SERPs as it is key. You will have some idea about your audience with this. All this information will be useful in future. You can curate strategies targeting a specific set of audiences.
Again, it is very crucial in generating leads. The B2B world revolves around lead generation. Build a list of prospects that will fall in the top-of-funnel level.
As we know by now that B2C is more customer focused than B2B. It covers a larger portion of the audience. It also focuses on the top-of-funnel level. Advertising with a strong impact on the emotional aspect of the audience can gain better leads.
By analysing the demographics of the audience in the top level, you can create a good list of leads. And remarketing or email marketing to them can gain sales.
We can also make use of the CRO strategy to gain better leads and sales. Creating better landing pages, quality content increase sales. And easy guidance on websites are few of the things to do to increase the conversions.
4. Decision-Making Process
Decision making processes can help businesses make the right decisions over the emotional and rational side. Here, it is an open communication for both the businesses to decide whether they can crack the deal.
Present the positive aspects of your company to crack the deal with the other side. Have a good comparison of positive aspects to beat your competitors. While approaching the other side, look for their needs and expectations. Segregate the needs under rational and emotional parts.
Rational part of the deal mostly motivates you to think on the financial aspects. It can be about the deal to make or investments. Emotional part will suffice the emotional connection with the company. This can be firing people, losing money, cutting on pay scales, cutting on benefits.
Utilize the expertise to make the most for the conversion rates. It matters to B2C the most then B2B. This will increase the ROI for the better. Here, at the top of the funnel one needs to do an influential advertising that will explain the product well to the customer.
This will help the customer know about the product better. Once the customer identifies the products and whether it’s well suited, the sales will increase. The flexibility is very high when it comes to individual customers as compared to businesses.
Keep giving the consumer what they need and desire. That’s the end goal. This can only be done by simplifying the decision-making process for the customer. Once they know what they want to buy, they will look for competitors for better deal. So, make sure you deliver the best.
Benefits of digital marketing
1. Cost effectiveness
Digital marketing is very cost effective as compared to traditional marketing. Traditional marketing needs a bigger budget to promote businesses. But that is not the case with digital marketing. You can tap in your customer base and promote your brand digitally. This can be done through emails, promotion on social media and other activities.
2. Lead generation
You can reach people across the world through digital marketing. Great content will help in generating potential leads. So, produce informative, relevant and quality content that helps in addressing pain points of your customers.
3. Conversion rates
Digital marketing gives a better exposure. This in turn helps having a better interaction with potential customers. Taking prompt action and helping your customer understand it is the key! With easy Call-To-Action guide them for achieving better conversion rates.
4. Higher ROI
Cost-Per-Lead (CPL) is high with the help of digital marketing. So, if you have invested in marketing, a well strategized CPL figure will give you better returns.
5. Earning people trust
Giving out quality content will earn your trust from people. Again, coming to the main point, this content should be such that it addresses people’s problems. The best part of digital marketing is you will be reaching out to only potential customers.
6. Brand awareness
Digital marketing has become a valid turning point. You can easily reach out to the world and mark your existence. Properly promoting your business is the vital part here. With that done correctly, you can reach a larger audience and generate more engagement.
7. Sneak peek into competitors
Along with you, your competitors are also making the most of this strategy of digital marketing. But the best part is you can know what they are doing. You will know their content, trends, campaigns and keywords too! Plan your strategies accordingly.
8. Real time output
You can analyze the results and make improvements along the way. The output is always in real time. You will know the areas doing good and bad for your business immediately.
By Media Lab
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