Each commodity, tool or even strategy in today’s world has its pros and cons. Undertaking any of these without considering these Social Media Marketing advantages or disadvantages, can be very harmful for our business.
Same goes with the strategies we undertake towards boosting our business. One such tactic is called Digital Marketing. Now the question arises:
Is this Relevant to us?
If yes, HOW?!
Digital marketing is a type of marketing which uses the internet and numerous web-based digital technologies such as cell phones, tablets, computers and other digital media platforms to promote their company products and services. The wide usage of digital marketing has immensely transformed the way agencies and businesses use digital technology to sell themselves and make their digital mark.
As more people begin to use digital platforms in their daily lives, digital marketing campaigns utilizing Search Engine Optimization , Search Engine Marketing , content marketing, Social Media Influencing, Running Campaigns, data-driven marketing, SMO, SMM, Email marketing, Pop-up advertising, and various other techniques have become very common in the market.
Pros of Social Media Marketing are as follows:
1) Global reach
For a minuscule investment, a website allows us to find new markets and helps to trade abroad.
2) Lesser cost
When we compare traditional marketing tactics, a well-strategized and well-optimized digital marketing campaign can reach the target customers at a far lower cost.
3) Results that are impressionate and computable
Usage of web data analytics and various online metric tools to compute our online marketing campaign makes it possible to determine how effective it is. We can get detailed information as to how customers interact with our website or engage with our advertisements via Google Analytics.
If our client database is connected to our website, we can greet visitors with target offers whenever they visit. The more people buy from us, the better our products will be developed.
By getting involved with social media and being able to manage it carefully, we can build customer loyalty and create a reputation for our brand, which makes engagement easy.
6) Social currency
Digital marketing lets us create engaging campaigns via content marketing tactics. This content, (imagery, videography, articles) can help us to gain social currency i.e. passed from customer to customer and becomes viral.
7) Improved conversion rates
If we have a website, then our customers are just a few clicks away from making a purchase. Unlike other mediums of advertising, which require people to make efforts and make a phone call, or to visit a shop, digital marketing is seamless and immediate.
Some of the cons and challenges of digital marketing we should be aware of, are:
1) Skills and training
We need to ensure that our staff have the right knowledge and expertise to carry out the marketing successfully. Tools, platforms and trends transform rapidly and it is important that we keep up-to-date.
2) Time consuming
Tasks such as optimizing online advertising campaigns and creating marketing content can take up a lot of time. It’s important to compute our results to ensure a return-on-investment.
3) High competition
While we can reach a global audience with digital marketing, we are also facing global competition. It is a challenge to stand out against competitors and to make a mark among the many messages targeted at consumers online.
4) Complaints and feedback
Any negative feedback or criticism of our brand is visible to our audience through social media and review websites. Carrying out effective customer service online can be challenging. Negative comments or failure to respond properly can damage our brand reputation.
5) Security and privacy issues
There are a number of legal considerations around collecting and using customer data for digital marketing purposes. Thus while designing our strategies and campaigns, we must take care of the rules relating to privacy and data protection.
6) Time Consumption
Various strategies require rigorous research and extensive planning. Execution of the plan is yet another task. All of this consumes a lot of time.
7) Increased screen activity
This demerit might have an impact on your health as it strains your eyes for staring at the screen for longer durations.
Covid 19 has significantly altered the marketing landscape in India. Traditional marketers that have spent a lot of money on traditional marketing are transitioning to digital marketing. People, on the other hand, are still wary of digital marketing. Digital marketing is a relatively new field, and not everyone is familiar with how it operates. People are hesitant to use digital marketing because of a lack of understanding and education.
Both digital and traditional marketing have their own set of benefits and drawbacks. Digital marketing, on the other hand, is without a doubt the future of marketing. Manufacturing businesses can achieve their marketing objectives by combining traditional and digital marketing best practices.