The digital revolution has permeated the entire marketing universe (hitherto reliant only on Traditional Channels) and redefined the 2nd P of Kotler’s 4Ps (Promotion),
It is Facebook, LinkedIn or Twitter where most of the social conversations take place. The renowned firm Maximillion surveyed event organizers about how they use social media for their jobs, and 75% said it was “very important” to use social for event promotion. Facebook was the most popular channel for doing so, at 78%, followed by Twitter (56%) and LinkedIn (49%) (June 2015). 95% of brands tweet. 82% of brands tweet 1-6 time per day. 48% of brands replied to at least one tweet per day. 68% of brand Tweets are @replies.
What is clearly evident from recent trends is that companies can no longer choose to remain dependent on merely the traditional channels of marketing. The latter will necessarily have to be supplement by the digital channel to reach the hearts and minds of customers.
Companies that chose to ignore the digital medium can do it only at their own peril
The Internet’s share in total advertising revenue is anticipated to grow 2X from 8% in 2013 to 16% in 2018.
The online advertising market in India is likely to grow @ 30% this year to reach Rs 3,575 crore (US$ 538.09 million) in 2015. Indian companies may spend as much as 1.78 bn $ by 2018. It may be noteworthy to share that search advertisements constitute 38% and display advertisement segment constitutes 29% of this market
China shows a similar trend as depicted below
Let us compare the digital medium trumps the traditional channel.
Call for Action
So if you are wondering how to start; here’s a quick roadmap
One must choose the digital media platform on the basis of business objective and target audience. Social Media may be useful for brand promotion for a large organization while Search Engine Marketing may be more appropriate for a start-up if lead generation is the primary objective.
- Newsfeed Ads
Your advertisement will be on the on the homepage between the newsfeed. These ads include status updates, photos, videos, links, app activity and likes from people, pages and groups that you follow on Facebook. Facebook newsfeed ads have a click through rate rate 44X higher and a conversion rate 5X higher than right side ads
Display advertising comes in several forms including banner ads and others. Unlike text-based ads, display advertising relies on elements such as images, audio and video to communicate an advertising message. They can be highly targeted and can be used very effectively, for example display ads on LinkedIn can be targeted to reach out to people based on geographies, sector, group, gender and even job profile. Display ads have a CTR of anywhere between 0.02% up to 3% – 4%
3. Sponsored InMail
Sponsored InMail on LinkedIn is ideal for boosting conversion through targeted product and service promotions in B2B marketing
4. Mobile Ads
Mobile allows you to get closest to a consumer. Being an interactive mass media, it can also often make a campaign viral. The KPIs here are Cost Per Impression, Click Per Click (CPC) or Cost Per Install (CPI).
5. Paid Search (PPC & SEM)
Pay Per Click (PPC) are ads served to mobile search users and charged by the number of clicks that resulted in a direct call from a smartphone.
Social Engine Marketing or SEM entails purchasing ads on search engines
6. Email Marketing Lists
It is an inexpensive way to ensure that your brand is reaching its clientele in their inbox. The only important part to note is that the email list must be relevant and not outdated
7. Interactive Banner Ads/ Interstitial Ads/ Site Takeover Ads
Interactive ads have embedded content like video, games, sound effects, making the advertisement more engaging. Have CTR, almost 3X of regular banner ads
Interstitial are web pages that open up before a content page to display ads, or confirm a viewer’s age. Typical interstitials are 5-10 seconds long where the viewer bound to watch
Site Takeover Ads or Homepage Ads are spectacular ads displayed for a day / brief period on a publisher homepage, ranging from Background Skins, Pre-home Interstitials, Masthead, Out-of Box Ads, etc.
8. In-Stream Videos
In-Stream videos are ads that appear before, in between and after internet videos, often on YouTube videos. After a pre-roll, the ad can be skipped, but the idea is to get the viewer hooked
9. Promoted Tweets / Twitter Cards
Promoted Tweets are useful for Sales Promotion and giveaway. Twitter Cards let you take your content beyond basic text, allowing you to create media rich experience for visitors who Tweet your content. Useful when your goal is to drive a particular action via Twitter
A word of caution
The choice of the appropriate medium is a function of Who, What, When, Where and Why!
Majority of digital marketing campaigns relies on regular flow of high quality, relevant content, the requirement for which is highly underestimated by a large percentage of businesses.
Plus it is important to monitor the results of your strategy using tools, which include the likes of Facebook Insights, Twitter Analytics, Alexa, Google Analytics and TweetDeck. This can then be used to re-optimise your efforts and the results of your marketing spend.
Vikash Agarwal and Anurag Singal, both avid bloggers, are alumni of Don Bosco Liluah. They have been amazed by how digital marketing has transformed the world around them in their personal/professional endeavours.
Vikash is an MBA in Marketing from EMPI, New Delhi and is engaged in the marketing initiatives for Reliance MF for North and East India.
Anurag is a CA and MBA from IIM Ahmedabad and uses digital media extensively to reach out to stakeholders for his start-up # cajobportal.com- India’s first recruitment website for CAs & MBAs.