Why you NEED Digital Marketing!
How digital Marketing has made the consumer buying model more effective.
“So where are you going to work when you’re done studying?”
- The answer = ANYWHERE.
So often I’ve come across people that genuinely don’t understand what I’m studying or it’s relevance in the workplace. Before tackling what digital marketing is it is important to note the evolution of marketing as a practice.
Marketing used to solely focus on advertising whereas now it is comprised of several functions including the creating of a product, the craft of producing the design you select in order to price it in such way that will provide a profit. This is a fundamental concept that Seth Godin talks about at length in his highly acclaimed book The Purple Cow.
My marketing lecturer once stressed how important is it for each of us to learn the most we can about everything because that.. is our job. It’s an overwhelming truth because how else can we expect to draw important insights if we can’t engage with the target market.
In summary: marketing has surpassed the art of advertising.
Traditional marketing will never be outdated but it has become overshadowed. The best way to reach your audience now is by meeting them where they are at, intercept and disturb. The internet has made this more achievable than ever.
Throughout my blog I hope to dissect each of the different components that make up digital marketing but here are a few beneficial aspects that companies are receiving due to their digital presence.
So the basis of a consumer buying model is made up of the following steps:
- Problem Identification
- Information Search
- Evaluation
- Decision
- Action/Purchase
And finally: 6. Post-purchase (cognitive dissonance)
Regardless of whether you’re part of a B2B or B2C this procedure remains valid. The incorporation of online platforms throughout this model has allowed business to not only have a higher sense of involvement, throughout the process, but it has also provided an environment that allows insights to be observed and utilized at an optimal level.
It is easier than ever to see what consumers are yearning for and ensuring that you can cater to the seemingly insatiable need. Consumers have become more empowered regarding their search process with the web, often literally, at their finger tips. Making it vital for businesses to ensure that they get noticed for whatever it is they are able to provide consumers with. Several alternatives are present, as most markets are quite saturated, being the standout within the market is vital in order to be the optimal choice for the prospective consumer. Deciding on a product or service has become a process that can be acted on faster than ever and often the simpler the process is the higher your chance at return customers as well as the spread of recommendations. Post-purchase is a vital part of the model as the satisfaction of any consumer is the primal goal and in order for any business to achieve knowledge on how well their product or service is doing, a high level of attention to the post-purchase actions is required.
So, how do we utilize the internet as a platform to gather intel on what consumers need and how we can best deliver it to them? How do we ensure that consumers know that we can cater to their needs/wants? How do we ensure that we are accentuated as the best choice to attend to their needs/wants? How do we stand out from our competitors? How do we make the consumers buying process easier, safer, and generally more efficient? How do we ensure that we can create platforms that allow consumers to communicate their experience with our business (or it’s produce/service)? And finally, how do we meet the consumers where they are at?
The answer is DIGITAL MARKETING.
Metcalfe’s law states the effect of a telecommunications network is proportional to the square of the number of connected users of the system (n squared). This high level of reach allows a broad audience to sought out information from to ensure that you can create the best product or service.
Their are several revenue models that may be utilized as ways to ensure that consumers are able to acknowledge your business as well as what you provide. Whether it is purchasing Google Ads, getting involved with affiliate links on other sites, sponsoring other sites, aligning yourself with an already trusted brand. You could also simply focus on Search Engine Optimization (SEO) whether it’s through optimizing your key words or general content.
Creating Stickiness through things like sizzling things up on your brand’s site increases the interest of your prospective consumers and brings you that much closer to converting them. Create content that would intrigue, that may disturb some and might even bother others. Sometimes the best way to go about this it by targeting a set niche and consistently ensure that your brand values align with those of the targeted audience.
E-commerce has almost become an expectation in most markets and with it being the base expectations it is now all about creating added value in efficiency and privacy. Process should be fast but they should also be set up with legit frameworks so that consumers can trust that the use of any businesses’ online platform is not just an act of convenience but one that is supported by safety.
The internet made the facilitation of customer communities easier (C2C and C2B). This two-way dialogue has allowed business a deeper look into what their consumers like and what they would change, thus making collaborative works easier to achieve. But not only are businesses able to receive reviews, consumers now have several channels that are easy to navigate so that they may share about their experience and hopefully make influential recommendations.
Mobile phones, laptops and as of recent times our homes (Alexa and Google Assistant) are a part of consumers everyday lives. Think about it, when was the last time you went a couple of days without your phone… exactly.
Digital marketing is the act of ensuring that any business can meet consumers where they are at, so consumers can find the necessary information regarding a want and need they hope to satisfy. Digital Marketing ensures that not only can consumers notice you above your competitors but that they can also buy your product in an efficient and safe manner. Digital Marketers are constantly on the look out for the appraisals and complaints of consumers to ensure that improvements can be made and that this process may continuously circulate.
Digital Marketers are the way to make your business relevant and if you don’t have one, trust that your greatest competitor does.
