The Modern Marketing Model – Digital Marketing
Digital Marketing is often described as the promotion, communication and marketing of products, brands, corporate entities and services. This often happens through digital channels, whether online or off line. Typically digital marketing happens through channels like mobile phone, tablets, laptops, and desktops. Lately digital marketing is also possible through smart watches and smart TV’s opening up a whole new world of marketing to (potential) consumers.
The other side of the coin, the other side of digital marketing, is just as important. Part of digital marketing is the feedback loop, finding out whether the message is coming across. Are your messages reaching the consumer via mobile phone, through email messages or text messages, more often than videos on Youtube for instance? There are many programs that can measure activity like BrightEdge, SEMrush, Moz and others. The most known feedback program is Google Analytcis which is free with a Gmail account.
Key to the success of your digital marketing efforts is Return on Investment. If you put in a certain amount of money towards a digital marketing campaign, you want something back for that effort. The something back is called a conversion. This conversion can be the purchase of a product or service or it can be the sign up to a newsletter. The value of any conversion is driven by a number of factors like, revenue from a sale, revenue from advertising income or the mere fact that by colecting email addresses from people who sign up to a newsletter you create a marketing channel through which you can communicate anything you want, like offers and new products. In the long run your true ROI is the revenue or value of your conversions minus the cost it takes to get the conversions. Why is digital marketing so important? We’ll discuss those reasons in a different article.