Kimishua Angela BAPRM 42583

WHAT IS DIGITAL MARKETING

If marketing creates and satisfies demand, digital marketing drives the creation of demand using the power of the Internet, and satisfies this demand in new and innovative ways. The Internet is an interactive medium. It allows for the exchange of currency, but more than that, it allows for the exchange of value. A business on the Internet can gain value in the form of time, attention and advocacy from the consumer. For the user, value can be added in the form of entertainment, enlightenment and utility; content marketing is one powerful way to create value. The reciprocity of the transaction is what’s important here – in other words, the exchange is a two-way street that provides benefit to both parties simultaneously. The Internet has changed the world in which we sell. It is not a new marketing channel; instead, it creates a new paradigm for the way in which consumers connect with brands and with each other. The complete scope of marketing is practiced on the Internet – products and services are positioned and promoted, purchased, distributed and serviced. The web provides consumers with more choice, more influence and more power. Brands have new ways of selling, new products and services to sell, and new markets to which they can sell. The roles played by marketing agencies are shifting too. So-called ‘traditional’ agencies are getting better at digital marketing, while agencies that started out as digital shops are starting to play in the traditional advertising space. More than ever, integrated strategies that speak to an overall brand identity are vital to achieving an organization’s goals. Consumers are increasingly more fluent in their movement across channels and in their use of multiple of channels at once. They expect the same from the brands with which they connect. Anyone still thinking in the old ‘traditional versus digital’ dichotomy is sorely out of date. However, marketing on the Internet does not mean throwing out the rule book on marketing and business principles. Instead, the Internet provides a new environment in which to build on these. Profit is still revenue less cost. The Internet does not change that. Brands build loyalty among users who love their products or services. Users fall in love with products and services when their experience is tailored to their needs, and not the needs of the brand. More than any other type of marketing, digital marketing is measurable. This gives brands the opportunity to build tailored, optimized brand experiences for consumers.

2.5 Understanding marketing strategy 2.5.1 Business and brand strategy. Before you can delve into marketing strategy, take a step back and consider the business and brand with which you are working. The end-goal of any business is to make money, in one way or another. Business strategy asks the questions: ‘What is the business challenge we are facing that prevents us from making more revenue?’ or, ‘What business objective should we strive for in order to increase the money in the bank?’ The brand is the vessel of value in this equation. The brand justifies why the business matters, and what value its adds to people’s lives. The value of the brand is measured in terms of its equity – how aware are people of the brand? Does it hold positive associations and perceived value? How loyal are people to the brand? When you have the answer to this question, you can formulate a marketing strategy to address the challenge or objective you’ve discovered.