What is Digital Marketing?

What is Digital Marketing?

What is digital marketing?

At a high level, digital marketing refers to advertising delivered through digital channels such as search engines, websites, social media, email, and mobile apps. Using these online media channels, digital marketing is the method by which companies endorse goods, services, and brands. Consumers heavily rely on digital means to research products. For example, Think with Google marketing insights found that 48% of consumers start their inquiries on search engines, while 33% look to brand websites and 26% search within mobile applications.

While modern day digital marketing is an enormous system of channels to which marketers simply must onboard their brands, advertising online is much more complex than the channels alone. In order to achieve the true potential of digital marketing, marketers have to dig deep into today’s vast and intricate cross-channel world to discover strategies that make an impact through engagement marketing. Engagement marketing is the method of forming meaningful interactions with potential and returning customers based on the data you collect over time. By engaging customers in a digital landscape, you build brand awareness, set yourself as an industry thought leader, and place your business at the forefront when the customer is ready to buy.

So, how do you define digital marketing today?

Why is digital marketing important?

Digital marketing helps you reach a larger audience than you could through traditional methods, and target the prospects who are most likely to buy your product or service. Additionally, it’s often more cost-effective than traditional advertising, and enables you to measure success on a daily basis and pivot as you see fit.

There are a few major benefits to digital marketing. Let’s dive into four of them, now.

1. You can target only the prospects most likely to purchase your product or service.

If you place an advertisement on TV, in a magazine, or on a billboard, you have limited control over who sees the ad. Of course, you can measure certain demographics — including the magazine’s typical readership, or the demographic of a certain neighborhood — but it’s still largely a shot in the dark.

Digital marketing, on the other hand, allows you to identify and target a highly-specific audience, and send that audience personalized, high-converting marketing messages.

For instance, you might take advantage of social media’s targeting features to show social media ads to a certain audience based on variables such as age, gender, location, interests, networks, or behaviors. Alternatively, you might use PPC or SEO strategies to serve ads to users who’ve shown interest in your product or service, or who’ve searched specific keywords that relate to your industry.

Ultimately, digital marketing enables you to conduct the research necessary to identify your buyer persona, and lets you refine your marketing strategy over time to ensure you’re reaching prospects most likely to buy. Best of all, digital marketing helps you market to sub-groups within your larger target audience. If you sell multiple products or services to different buyer personas, this is especially helpful.

2. It’s more cost-effective than traditional marketing methods.

Digital marketing enables you to track campaigns on a daily basis and decrease the amount of money you’re spending on a certain channel if it isn’t demonstrating high ROI. The same can’t be said for traditional forms of advertising. It doesn’t matter how your billboard performs — it still costs the same, whether or not it converts for you.

Plus, with digital marketing, you have complete control over where you choose to spend your money. Perhaps rather than paying for PPC campaigns, you choose to spend money on design software to create high-converting Instagram content. A digital marketing strategy allows you to continuously pivot, ensuring you’re never wasting money on channels that don’t perform well.

By and large, digital marketing is a more cost-effective solution, and provides you unique opportunities to ensure you’re getting the most bang for your buck.

For instance, if you work for a small business with a limited budget, you might try investing in social media, blogging, or SEO – three strategies that can give you high ROI even with minimal spend.

3. Digital marketing lets you outrank bigger players in your industry.

If you work for a small business, it’s likely difficult for you to compete with the major brands in your industry, many of which have millions of dollars to invest in television commercials or nationwide campaigns. Fortunately, there are plenty of opportunities to outrank the big players through strategic digital marketing initiatives.

For instance, you might identify certain long-tail keywords that relate to your product or service, and create high-quality content to help you rank on search engines for those keywords. Search engines don’t care which brand is biggest — instead, search engines will prioritize content that resonates best with the target audience.

Additionally, social media enables you to reach new audiences through influencer marketing. I don’t personally follow any big brands on social media, but I do follow influencers who will occasionally showcase products or services they like — if you work for a small-to-medium sized company, this could be a good avenue to consider.

4. Digital marketing is measurable.

Digital marketing can give you a comprehensive, start-to-finish view of all the metrics that might matter to your company — including impressions, shares, views, clicks, and time on page. This is one of the biggest benefits of digital marketing. While traditional advertising can be useful for certain goals, its biggest limitation is measurability.

Unlike most offline marketing efforts, digital marketing allows marketers to see accurate results in real time. If you’ve ever put an advertisement in a newspaper, you’ll know how difficult it is to estimate how many people actually flipped to that page and paid attention to your ad. There’s no surefire way to know if that ad was responsible for any sales at all.

On the other hand, with digital marketing, you can measure the ROI of pretty much any aspect of your marketing efforts.

Here are some examples:

Website Traffic

With digital marketing, you can see the exact number of people who have viewed your website’s homepage in real time by using digital analytics software, available in marketing platforms like HubSpot.

You can also see how many pages they visited, what device they were using, and where they came from, amongst other digital analytics data.

This intelligence helps you to prioritize which marketing channels to spend more or less time on, based on the number of people those channels are driving to your website. For example, if only 10% of your traffic is coming from organic search, you know that you probably need to spend some time on SEO to increase that percentage.

With offline marketing, it’s very difficult to tell how people are interacting with your brand before they have an interaction with a salesperson or make a purchase. With digital marketing, you can identify trends and patterns in people’s behavior before they’ve reached the final stage in their buyer’s journey, meaning you can make more informed decisions about how to attract them to your website right at the top of the marketing funnel.

Content Performance and Lead Generation

Imagine you’ve created a product brochure and posted it through people’s letterboxes — that brochure is a form of content, albeit offline. The problem is that you have no idea how many people opened your brochure or how many people threw it straight into the trash.

Now imagine you had that brochure on your website instead. You can measure exactly how many people viewed the page where it’s hosted, and you can collect the contact details of those who download it by using forms. Not only can you measure how many people are engaging with your content, but you’re also generating qualified leads when people download it.

Attribution Modeling

An effective digital marketing strategy combined with the right tools and technologies allows you to trace all of your sales back to a customer’s first digital touchpoint with your business.

We call this attribution modeling, and it allows you to identify trends in the way people research and buy your product, helping you to make more informed decisions about what parts of your marketing strategy deserve more attention, and what parts of your sales cycle need refining.

Connecting the dots between marketing and sales is hugely important — according to Aberdeen Group, companies with strong sales and marketing alignment achieve a 20% annual growth rate, compared to a 4% decline in revenue for companies with poor alignment. If you can improve your customer’s’ journey through the buying cycle by using digital technologies, then it’s likely to reflect positively on your business’s bottom line.

What is the role of digital marketing to a company?

While traditional marketing might exist in print ads, phone communication, or physical marketing, digital marketing can occur electronically and online. This means that there are far more possibilities for brands to reach customers, including email, video, social media, and search engines.

At this stage, digital marketing is vital for your business and brand awareness. It seems like every other brand has a website. And if they don’t, they at least have a social media presence or digital ad strategy. Digital content and marketing is so common that consumers now expect and rely on it as a way to learn about brands.

Long story short, to be competitive as a business owner, you’ll need to embrace some aspects of digital marketing.

Because digital marketing has so many options and strategies associated with it, you can get creative and experiment with a variety of marketing tactics on a budget. With digital marketing, you can also use tools like analytics dashboards to monitor the success and ROI of your campaigns more than you could with a traditional promotional content — such as a billboard or print ad.

How does a business define digital marketing?

Digital marketing is defined by the use of numerous digital tactics and channels to connect with customers where they spend much of their time: online. From the website itself to a business’s online branding assets — digital advertisingemail marketing, online brochures, and beyond — there’s a spectrum of tactics that fall under the umbrella of “digital marketing.”

The best digital marketers have a clear picture of how each digital marketing campaign supports their overarching goals. And depending on the goals of their marketing strategy, marketers can support a larger campaign through the free and paid channels at their disposal.

content marketer, for example, can create a series of blog posts that serve to generate leads from a new ebook the business recently created. The company’s social media marketer might then help promote these blog posts through paid and organic posts on the business’s social media accounts. Perhaps the email marketer creates an email campaign to send those who download the ebook more information on the company. We’ll talk more about these specific digital marketers in a minute.

Types of Digital Marketing

  1. Search Engine Optimization (SEO)
  2. Content Marketing
  3. Social Media Marketing
  4. Pay Per Click (PPC)
  5. Affiliate Marketing
  6. Native Advertising
  7. Marketing Automation
  8. Email Marketing
  9. Online PR
  10. Inbound Marketing
  11. Sponsored Content

Here’s a quick rundown of some of the most common digital marketing tactics and the channels involved in each one.

1. Search Engine Optimization (SEO)

This is the process of optimizing your website to “rank” higher in search engine results pages, thereby increasing the amount of organic (or free) traffic your website receives. The channels that benefit from SEO include websites, blogs, and infographics.

There are a number of ways to approach SEO in order to generate qualified traffic to your website. These include:

  • On page SEO: This type of SEO focuses on all of the content that exists “on the page” when looking at a website. By researching keywords for their search volume and intent (or meaning), you can answer questions for readers and rank higher on the search engine results pages (SERPs) those questions produce.
  • Off page SEO: This type of SEO focuses on all of the activity that takes place “off the page” when looking to optimize your website. “What activity not on my own website could affect my ranking?” You might ask. The answer is inbound links, also known as backlinks. The number of publishers that link to you, and the relative “authority” of those publishers, affect how highly you rank for the keywords you care about. By networking with other publishers, writing guest posts on these websites (and linking back to your website), and generating external attention, you can earn the backlinks you need to move your website up on all the right SERPs.
  • Technical SEO: This type of SEO focuses on the backend of your website, and how your pages are coded. Image compression, structured data, and CSS file optimization are all forms of technical SEO that can increase your website’s loading speed — an important ranking factor in the eyes of search engines like Google.

2. Content Marketing

This term denotes the creation and promotion of content assets for the purpose of generating brand awareness, traffic growth, lead generation, and customers. The channels that can play a part in your content marketing strategy include:

  • Blog posts: Writing and publishing articles on a company blog helps you demonstrate your industry expertise and generates organic search traffic for your business. This ultimately gives you more opportunities to convert website visitors into leads for your sales team.
  • Ebooks and whitepapers: Ebooks, whitepapers, and similar long-form content helps further educate website visitors. It also allows you to exchange content for a reader’s contact information, generating leads for your company and moving people through the buyer’s journey.
  • Infographics: Sometimes, readers want you to show, not tell. Infographics are a form of visual content that helps website visitors visualize a concept you want to help them learn.

3. Social Media Marketing

This practice promotes your brand and your content on social media channels to increase brand awareness, drive traffic, and generate leads for your business. The channels you can use in social media marketing include:

If you’re new to social platforms, you can use tools like CRM’S to connect channels like LinkedIn and Facebook in one place. This way, you can easily schedule content for multiple channels at once, and monitor analytics from the platform as well.

On top of connecting social accounts for posting purposes, you can also integrate your social media inboxes into CRM”S, so you can get your direct messages in one place.

4. Pay Per Click (PPC)

PPC is a method of driving traffic to your website by paying a publisher every time your ad is clicked. One of the most common types of PPC is Google Ads, which allows you to pay for top slots on Google’s search engine results pages at a price “per click” of the links you place. Other channels where you can use PPC include:

  • Paid ads on Facebook: Here, users can pay to customize a video, image post, or slideshow, which Facebook will publish to the newsfeeds of people who match your business’s audience.
  • Twitter Ads campaigns: Here, users can pay to place a series of posts or profile badges to the news feeds of a specific audience, all dedicated to accomplish a specific goal for your business. This goal can be website traffic, more Twitter followers, tweet engagement, or even app downloads.
  • Sponsored Messages on LinkedIn: Here, users can pay to send messages directly to specific LinkedIn users based on their industry and background.

5. Affiliate Marketing

This is a type of performance-based advertising where you receive commission for promoting someone else’s products or services on your website. Affiliate marketing channels include:

6. Native Advertising

Native advertising refers to advertisements that are primarily content-led and featured on a platform alongside other, non-paid content. BuzzFeed-sponsored posts are a good example, but many people also consider social media advertising to be “native” — Facebook advertising and Instagram advertising, for example.

7. Marketing Automation

Marketing automation refers to the software that serves to automate your basic marketing operations. Many marketing departments can automate repetitive tasks they would otherwise do manually, such as:

  • Email newsletters: Email automation doesn’t just allow you to automatically send emails to your subscribers. It can also help you shrink and expand your contact list as needed so your newsletters are only going to the people who want to see them in their inboxes.
  • Social media post scheduling: If you want to grow your organization’s presence on a social network, you need to post frequently. This makes manual posting a bit of an unruly process. Social media scheduling tools push your content to your social media channels for you, so you can spend more time focusing on content strategy.
  • Lead-nurturing workflows: Generating leads, and converting those leads into customers, can be a long process.You can automate that process by sending leads specific emails and content once they fit certain criteria, such as when they download and open an ebook.
  • Campaign tracking and reporting:Marketing campaigns can include a ton of different people, emails, content, webpages, phone calls, and more. Marketing automation can help you sort everything you work on by the campaign it’s serving, and then track the performance of that campaign based on the progress all of these components make over time.

8. Email Marketing

Companies use email marketing as a way of communicating with their audiences. Email is often used to promote content, discounts and events, as well as to direct people toward the business’s website. The types of emails you might send in an email marketing campaign include:

  • Blog subscription newsletters.
  • Follow-up emails to website visitors who downloaded something.
  • Customer welcome emails.
  • Holiday promotions to loyalty program members.
  • Tips or similar series emails for customer nurturing.

9. Online PR

Online PR is the practice of securing earned online coverage with digital publications, blogs, and other content-based websites. It’s much like traditional PR, but in the online space. The channels you can use to maximize your PR efforts include:

  • Reporter outreach via social media: Talking to journalists on Twitter, for example, is a great way to develop a relationship with the press that produces earned media opportunities for your company.
  • Engaging online reviews of your company: When someone reviews your company online, whether that review is good or bad, your instinct might be not to touch it. On the contrary, engaging company reviews helps you humanize your brand and deliver powerful messaging that protects your reputation.
  • Engaging comments on your personal website or blog: Similar to the way you’d respond to reviews of your company, responding to the people who are reading your content is the best way to generate productive conversation around your industry.

10. Inbound Marketing

Inbound marketing refers to a marketing methodology wherein you attract, engage, and delight customers at every stage of the buyer’s journey. You can use every digital marketing tactic listed above, throughout an inbound marketing strategy, to create a customer experience that works with the customer, not against them. Here are some classic examples of inbound marketing versus traditional marketing:

  • Blogging vs. pop-up ads
  • Video marketing vs. commercial advertising
  • Email contact lists vs. email spam

11. Sponsored Content

With sponsored content, you as a brand pay another company or entity to create and promote content that discusses your brand or service in some way.

One popular type of sponsored content is influencer marketing. With this type of sponsored content, a brand sponsors an influencer in its industry to publish posts or videos related to the company on social media.

Another type of sponsored content could be a blog post or article that is written to highlight a topic, service, or brand.

What is Digital Transformation?

What is Digital Transformation?

What is Digital Transformation? is the process of rethinking one’s business model or business process in light of the availability and affordability of digital technology. It requires coordination across the entire organization, since it applies new technologies to fundamentally change the way business is done. For many enterprises today, the driving motivation of digital transformation is the chance to gain competitive advantages by improving customer experience.

Technology Advances Created the Age of the Customer

More and more, exceptional customer experience is a key differentiator in digital business, and the process of digital transformation in Trinidad & Tobago should be guided by a customer-centric digital strategy.

According to Forrester, technology advances in the past five years have created the “Age of the Customer”, in which consumers choose when and how they interact with businesses. Companies today can’t fully control the experience they want to deliver to customers; instead, customers encounter businesses across many touchpoints with high expectations of consistency, ease of use and personalization.

It is up to businesses to use new technological capabilities and organizational change to create experiences that adapt to these changing needs. More and more, exceptional customer experience is a key differentiator in digital business, and the process of digital transformation should be guided by a customer-centric digital strategy.

Key Elements of Digital Transformation

Digital transformation is enabled by new technology, but successful transformation requires a reorientation that goes beyond the implementation of new technology to reach every part of the business.

MIT Sloan Management Review has identified three pillars of the transformation process for companies to focus on: customer experience, operational processes and business models. Companies also need to invest in and develop their digital capabilities, as this element enables digital transformation in each of the three main pillars.

Customer Experience

Advances in marketing software and data-gathering capabilities allow for better customer insight and greater personalization in digital experiences. Enterprises are pursuing transformation in the following ways:

  • Managing personalized experiences across channels that are easy and seamless for customers to use.
  • Developing digital products and services for new devices, such as smart watches.
  • Drawing in data at every touchpoint and using that to deliver more effective personalization.

Operational Processes

It can be tempting to think of front-end customer experience as the main focus of digital transformation, since that’s the most visible part of the process. However, using technology to redesign operational systems has just as much, if not more, impact on a company’s ability to successfully provide great experiences.

For example, a customer getting their package sooner means a more positive impression of the company, and having a representative already know what specific problems a customer is having, because the product sends diagnostic information over the internet, allows for shorter call times and faster solutions. Companies are successfully transforming operations by:

  • Breaking down departmental and data silos for better collaboration on digital projects, such as including both IT and Marketing on product teams so that both departments are fully informed during the process of design, strategy and development.
  • Automating processes through better software capabilities or with the creation of new tools, such as implementing automated purchase order systems in order to reduce paperwork and rejected orders.
  • Making strategic decisions based on data with increasing levels of detail. Instead of reusing or modifying a previous year’s distribution process, for instance, leaders are able to make changes based on real data, rather than assumptions.

Business Models

Often, startups are able to disrupt long-standing brands because they use innovative business models that take advantage of new technology, without being weighed down by legacy systems. Established brands should look to models that offer services that wouldn’t be possible without new technology. Examples of new business models are varied, but can generally include:

  • Expanding the scope of current business through digital services, such as a toy company that crowdsources designs online.
  • Evolving with changes in customer behavior due to new technologies. For instance, when customers see a product in store, they may do an online search order to check reviews and end up purchasing it at a lower price somewhere else. Some businesses have countered this by creating an app that allows customers to scan the product and read the reviews, ensuring that they stay within the business’s platform instead of purchasing elsewhere.
  • Rebuilding services to be digital-first, such as banks that create mobile apps for cashing checks, paying bills, applying for loans or other services.

Where to Start

A common misconception is that digital transformation begins and ends with technology. Companies shouldn’t define digital transformation as simply an increased investment in IT. Customer experience must drive the digital strategy behind transformation if companies are to see significant gains from customer insight and engagement.

To stay competitive in digital business, enterprises should look at where they are now and determine what core elements of digital transformation they need to focus on. Your enterprise may only be able to begin with one of the three pillars mentioned above; what’s important is that you start somewhere.

Though no one has a comprehensive roadmap for digital transformation, the following best practices have emerged over the past five years:

  • Vision + Investment – How far your business can go depends on the reach of your vision and the level of investment you commit to.
  • Digital Strategy – Have a strategy that accounts for the full scope of your vision, rather than the implementation of individual technologies.
  • Leadership – Because digital transformation requires in-depth organizational change and coordination, it is more effective when led from the top layer of the business.
  • Uniting Business and IT – Breaking down the barriers between Business and IT goes hand in hand with operational change. As digital business increases software needs, it will be important for Business and IT to merge their work so there are no conflicts in adapting technology.
  • Third-Party Solutions – Look for partners who have specific strengths in your areas of weakness. Structure relationships as partnerships, with an expectation of knowledge sharing and frequent communication. This mitigates the risk of creating siloed information across multiple vendors and becoming dependent on a vendor’s availability or timeline.

Digital Transformation Challenges

From poor leadership to lagging engagement, there are a range of ways you can derail digital transformation. The biggest culprit is an obsession with big bang change and an unwavering focus on cutting costs.

  • Poor Communication – Communication is crucial. Before entering digital transformation, ensuring your company is on the same page with your goals is essential. If your team is overwhelmed with too many projects, communication will crumble and the projects will as well. Ongoing communication and change management through the many stages of digital transformation is crucial as the process is always evolving. Even leaders like Amazon are continuing to transform and adapt today.
  • Working in Silos – If your organisation is executing multiple digital transformation projects, it’s important to consider how it will affect the entire company in addition to the customer journey. While breaking down and rebuilding and organisation’s structure is not always easy to achieve, aligning your aims and objectives, working on communication flow and consolidating departments may increase cooperation and aid in the elimination of siloed culture.
  • Ignoring the Data – When carrying out digital transformation, it’s likely your organisation will collect vast amounts of data. But often organisations make the mistake of ignoring this data. Whether upper management isn’t ready to make data-backed decisions or a team leader doesn’t agree with what the data is saying, failing to make calls based on this evidence could set back the digital transformation you’re after.
  • Neglecting Mastery – Digital transformation is not simply installing a new software. It is an ongoing process that truly never stops. Taking an evergreen approach to transforming processes, priorities and positions can make a real difference in how your organisation continues to adapt to the digital landscape.

How the Pandemic has Shifted Digital Transformation

The Coronavirus crisis has rapidly re-shaped how companies digitally transform. For example, the employee experience has quickly become a key theme in the community as a vast majority of the workforce continues to work remotely. Digital technology has gone from “nice to have” to “absolutely necessary.” 

Because of the pandemic, some areas of digital transformation have been pushed higher for organisations, such as furthering customer support services by introducing tools like chatbots, automating common processes, and cleaning out redundant and conflicting systems.