In the modern day, marketing looks nothing like it used to in the past, which has forced companies to change their strategies. With the world moving more digital on a daily basis, marketing has also evolved into the digital world. In fact, 70% of companies either have a digital transformation strategy in place or are considering adopting one in the coming years.
By learning how marketing has begun to evolve in this digital landscape, business owners can start to develop better digital marketing strategies to accelerate their conversions. Start by learning everything there is to know about digital marketing today.
Digital Marketing vs. Traditional Marketing: What Are the Key Differences?
First and foremost, the difference between digital marketing and traditional marketing can be quite confusing as the latter is still commonly used as well. To put it simply, traditional marketing is any form of marketing which uses “offline” channels to advertise a product or service for an organization. Therefore, marketing efforts such as putting up billboards, going door-to-door, and even television commercial ads are all forms of traditional marketing.
On the other side of things, digital marketing is any type of marketing that is performed via the Internet and all things that this encompasses. Due to this, digital marketing has the potential to reach people from all around the world, whereas traditional marketing was generally geared towards a local company.
Common Types of Digital Marketing
One of the best ways to understand what digital marketing looks like is to consider some of the common types in the modern day. The most common include:
How Has Marketing Spend Changed in Recent Years?
The rise in spend on digital marketing campaigns has increased drastically in recent years, with over $100 billion more dollars being spent yearly by companies in 2023 as compared to 2021. This amount is expected to increase even more rapidly through 2026, with total digital advertising expenditures expected to hit $835 billion. This is why taking the time to shift spend to the digital space is so important.
5 Trends Sparked by the Onset of Digital Marketing
With marketing services in Houston and other major cities offering the ability to enter into digital marketing, learning the common trends that digital marketing has allowed for can benefit any business owner. Despite being very different, the best marketing strategy is still to use both digital and traditional marketing combined in such a way that they bolster each other, rather than conflict:
Perhaps the largest benefit of digital marketing is to improve the efficiency of targeting audiences who may be interested in a product or service. The major problem with traditional marketing is that it is a form of blanket marketing in which every person may view the content, regardless of whether they are interested in the product or not. However, digital marketing allows a person to narrow down the audience they are targeting to only those who are likely to be interested.
Another major benefit that digital marketing has allowed for is the ability for companies to study their past marketing efforts in order to see what works and what doesn’t work. This can allow a company to adjust marketing campaigns while they are still in action to improve how effective they will actually be.
Building off of the last trend that digital marketing has sparked, the improved efficacy of marketing that a company can see also can be used to make more informed decisions on future strategies. For example, should a company notice that the majority of their engagement comes from one single social media platform, that would be the better choice for future campaigns.
Digital marketing opens the door of creativity for companies in every industry around the world. Whether it’s social media advertising, unique website advertisements, or something else, having access to digital marketing allows a person to create new campaigns that have the potential to be more effective.
Finally, digital marketing also opens the door to allowing a person to have new avenues in order to sell their products or services. Social media stores offer a slew of options for companies to sell their products through, and video streaming platforms such as YouTube do the exact same. This allows a company to have more options than just one single platform for selling products.
Pros to Utilizing Digital Marketing Strategies
Cons to Utilizing Digital Marketing Strategies
The Bottom Line
While building out a digital marketing strategy will not be easy, especially considering how much adjusting will have to be done to convert a traditional marketing model, the benefits are more than worth the effort. Take advantage of the opportunity to convert organizational marketing efforts to the digital world ahead of the competition to bolster the effect your organization has on converting potential customers to paying customers.
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