Tuesday, February 18, 2014

Digital marketing today



"There is one difference between winners and losers when it comes to web analytics. Winners, well before they think data or tool, have a well structured Digital Marketing & Measurement Model. Losers don't." - Avinash Kaushik in his blog post.

If you have read any blog post here you will notice that it’s related to digital analytics or web analytics. And, all of which tie up with digital marketing, which is where the sum of efforts you put into digital analytics (DA) is headed, in making your digital marketing better.

But, what is digital marketing anyway?

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Digital marketing is selling things to people via anything that is electronic, has a pretty screen and will let people click on it. Here's a definition from Wikipedia that leaves no doubts:

"Digital marketing is marketing that makes use of electronic devices (computers) such as personal computerssmartphones, cellphones, tablets and game consoles to engage with stakeholders. Digital marketing applies technologies or platforms such as websites, e-mail, apps (classic and mobile) and social networks. Many organisations cross traditional and digital marketing channels."

Today, when you talk about digital marketing you will hear words like Analytics, Customer Relationship Management (CRM), Visitors, Views, Engagement and what not. Digital Marketing is not what it once was in the 1990’s. Looking back, it has come a long way since.

Digital marketing centers around creating an experience for your customer, be it via Online, mobile or within social networks. It involves listening to how your customers interact with your digital content. Then, monitoring, predicting, experimenting and adapting what you deliver to what your customers want.



At this point, it's worth musing what Seth once said about connections in the digital age:

"There is no market for humming, for example, because everyone has unlimited humming at their disposal at all times. So, in the abundant digital world, what's scarce? Where is the economy?
It's in connection.
Who trusts you? Who wants to hear from you? Who will collaborate and support and engage with you? 
These are things that don't scale to infinity. These are precious resources."

By knowing who your customer is, what he does and a whole lot of other details that have sparked off the privacy debate, you can make your marketing more relevant and experience more personalized. (You've surely read this one, I presume.)

Almost everything digital that touches your customer, can be used to make his or her experience wholesome. Like, altering your landing page based on feedback from your digital metrics. And, with the state to which social media has evolved to what it is today, and data driven decisions it is possible to reach out to your customers at a personal level than ever before. It possible to connect with your customer than ever before.

Previously, what was once traditional marketing, today works in tandem alongside digital. Here’s an example of how that could be done:

“Each year companies spend millions of dollars for a 30-second Super Bowl ad to reach a wide and captive audience. By adding a digital call to action--like an invitation to like the brand’s Facebook page to be entered in a giveaway--brands can extend the value of that advertisement and get a broader return on their (very significant) investment. Once that consumer engages online, marketers can provide additional details about the product in the ad, invite them to opt-in for future communication, or offer a digital coupon or promotion in order to encourage the type of active engagement that digital channels have to offer.

Here are few relevant numbers that show the state of things these days:

  • Internet users: More than 36% of the global population today, compared to 21.7% in 2008.
  • Mobile phone users: 60.7% of the population this year, compared to 40.0% in 2008.
  • Smartphone users: Just under one-third of mobile users and about 20% of the global population, compared to 3.7% of mobile users and 1.5% of the population in 2008.
  • Social network users: About a quarter of the global population, compared to 8.3% in 2008.
  • Facebook users: More than 15% of the global population, compared to 3.1% in 2008.
  • Total ad spending: $517.10 billion in 2013, up 2.8% from last year, compared to $484.30 billion in 2008.
  • Digital ad spending: More than 22% of total ad spending in 2013, compared to 12% in 2008.
  • Mobile ad spending: Just 2.6% of total ad spending and 11.9% of digital ad spending, compared to 2.1% in 2008.

And to close, here's an infographic from Mobile marketing watch relating analytics and digital marketing:

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