Digital marketing is arguably one of the most important tools and skill to possess within the 21st century. In a world where information is becoming more freely available, technology more advanced and people are having more options and products thrown at them than ever before, digital marketing becomes almost a necessity for any product or brand if it wants to remain relevant and not swamped over by competition.
Firstly however, it should be clarified exactly what ‘digital marketing’ is. Now, as with any modern and new idea, the exact description and understanding ‘digital marketing’s’ meaning is not set in stone but there are still fundamental points and aspects that give insight. In simplistic terms, digital marketing refers to the promotion of brands or products on a multitude of electronic platforms that customers interact or come into contact with.
Tammi Cannizaro, vice president of marketing at IBM, has even been quoted as saying that digital marketing IS marketing of this latter half of the 21st century, in the sense that it has arguably overtaken more classic modes of marketing that existed. Such examples of these ‘platforms’ that are used for marketing are things such as digital television, tablets, mobile phones, mobile apps, electronic billboards and even podcasts, to name but a few. As can be seen, there is a large variety of fields that can be tapped into for marketing purposes, a valuable asset to possess in the 21st century. The potential gains to be had from digital marketing are therefore large and that is what makes it key for business success. Firstly, an Ad or internet banner that is placed appropriately on the internet, or any of the many other digital platforms at your disposal, is a lot cheaper than a marketing campaign involving a printing campaign or TV advertisements.
Not only is it cheaper but you also potentially impact a larger audience, especially considering that roughly 4.3 billion people (according to UN statistics) have access to some form of digital platform or internet. What this means is that digital marketing is now much cheaper and potentially much more effective than more classic forms of marketing. The benefits this could have on a business is clear to see, a small company can potentially become a worldwide brand with the right digital marketing. Another plus digital marketing possesses is the ease in which businesses can gather and monitor information.
Businesses no longer need to spend large amounts of money to conduct consumer research as you can see immediately the results your marketing campaign is producing. This not only saves money for businesses but also allows for quick and easy changed to be made in marketing campaign so as to gain the best results, something not as easy or quick to do in more classic styles of marketing and market research. To summarise, the world is unavoidably becoming more digitalised with no real end in sight. With over 4 billion people having access to the internet (over 80% of the population in most developed nations) the digital realm clearly is something that cannot be ignored and is something that has vast potential.
Businesses now have it easier than ever before to interact and gain the attention of customers not just locally but world-wide. This, combined with the affordability and real-time results of digital marketing makes it an asset that business risk not having at their own peril. The time of technology has well and truly arrived and businesses need to evolve and adapt or get left behind.