The advancements in technology have it made so much more convenient for people to communicate and share information from one corner of the world to the other. This advancement in technology has also made it possible for large and small businesses to change the way in which they market their products or services. In this day, marketing has evolved into becoming a digital marketing.
What is digital marketing?
Digital marketing is very similar to traditional means of marketing a product or service however the key difference here is that instead of having a physical storefront for your product or service, your product or service is marketed on the internet using different electronic methods. This is where the word digital in digital marketing comes from.
Digital marketing was created as a result of people becoming more and more reliant on the internet. A study showed that over half of the world’s population relies heavily on the internet as of 2019, and that number is only continuing to grow as a result of technological advancements across countries in the world.
When the internet first gained traction and popularity in the 1990s, this is when digital marketing first came to light. At that time, the internet was mostly used for basic tasks such as searching up a person’s phone number or house address or recipes and other normal things. There wasn’t any mass social media platform available at that time.
So when digital marketing was first introduced, it was introduced in the form of banner advertisements displayed across websites that were already established across the internet. These banner ads had the purpose of promoting or advertising a particular service or product, and if a user clicked on this banner advertisement they would be redirected to the company or business who is selling that product or service’s page.
Today, digital marketing has grown from just being mere banner ads shown across other websites. With the rise of social media and smartphones, digital marketing takes on many different forms.
In 2020, there are many different forms of digital marketing seen across the internet but here are some of the most popular digital marketing methods used by small and big businesses:
- Social Media Marketing
Perhaps the most popular form of digital marketing is social media marketing. Brands use influencers and celebrities to promote their product or service across different social media platforms such as Instagram, Twitter and Facebook to name a few.
Brands also create advertisements that are shown through Instagram stories, Facebook sponsored pages etc.
The reason brands do this is because they know that people are very active on social media. A study conducted stated that people spend at least a minimum of 2 hours on social media. 2 hours is plenty of time for a person to see different advertisements of products and services, and then feel the need to want to purchase that product or service.
- Search Engine Optimization (SEO)
This form of digital marketing is relatively new and continuing to grow. Companies will use blog posts and websites that are SEO friendly in order to bring in customers.
SEO friendly means that their website will show up in search engines like Google, or be displayed as the first website when a person searches for a specific keyword.
- Influencer Marketing
As mentioned earlier, social media marketing is a form of digital marketing that uses influencers to sell products and/or services. But influencer marketing goes deeper than just digital marketing through social media.
When a brand contacts an influencer to do digital marketing for their product or service, they are asking the influencer to be an ambassador of their product or service. Essentially, be the spokesperson or the face of the brand’s product or service.
Influencer marketing is extremely popular amongst small business enterprises (SME’S) because it is cost-efficient. Influencers are gifted the product or service and asked to kindly market it by endorsing the product however they choose to.
The three samples given above are just a few ways in which brands and companies can use digital marketing to their benefit in 2020.
Digital Marketing is extremely important for any business to understand and implement if they want to be ahead of the curve and have a competitive advantage over other companies.
But you must be wondering how exactly is digital marketing important in the year 2020? Here is why it is important
Take what is happening to the world right now with the coronavirus pandemic, entire countries have been forced to isolate and lock down their citizens to reduce the spread of the virus. This of course has negative effects on companies in each country because they aren’t able to market their products like how they would normally do. This is where digital marketing comes in handy.
Sure you may be locked in your home, but it doesn’t mean that you can’t make a profit. Through digital marketing you can still market your products to someone half away across the world simply by using social media, emails, blogs, etc. Not only would you be saving on cost but also you won’t be confined to a specific time in which you would have to market your product.
The great thing about digital marketing is that it is all done online, and since the internet never sleeps you could be posting your advertisements throughout the day so you would actually be generating more profit for your brand in the long run.
Digital marketing is extremely important especially with the rise of artificial intelligence systems present through different technologies. Learning the in’s and outs of digital marketing and then using an AI to manage your marketing strategies will allow you to run business operations more efficiently and allow for more marketing to be done.
With everything becoming more and more digital as the years pass, companies that do not adapt to digital marketing practices will end up ceasing to exist one day.