Why It Is Essential for Your Company to Master a Digital Marketing Strategy
I have been in the marketing industry for 15 years now, and have seen its’ direction and strategy change at an unparalleled rate. It seems that every year there are new skills and strategies I must tap into, in order to successfully market. Television has been the most prevalent media channel to market on for decades…. Until now.
Last year (2017), for the first time ever, digital ad spend overtook T.V. ad spend; and that gap is going to keep widening. There are many factors that have led to digital marketing’s’ overtaking of television, such as; more personalized ads, programmatic and targeted ads, cord-cutting and streaming services on the rise, the use of mobile phones, digital is cheaper, has a higher return on investment…. you get the point. The world of marketing is changing at an astounding speed, so your marketing tactics must do the same. Digital marketing is a luxury we have never had before and must be utilized.
Just like with any marketing channel you use, implementing a strategy is the first order of business. Who am I trying to reach? How am I going to reach them? What message am I trying to get across? How will I capture their attention? These are all questions you need to ask when building a marketing strategy. The luxury that digital has over all the other platforms, is it acts as your work-horse. It is working for you at all hours of the day even when you aren’t. Yes, you create the content, but through programmatic and big data, your digital hub will choose who sees your ad, and when they see it (in real-time). This allows for more optimization and a higher return on investment.
Not only will digital marketing allow you to spread your content to people who are most likely to buy your product/service, but it gives you a great way to measure what works and what doesn’t, through analytics and metrics. You will have the ability to see what age group clicks on your ad the most, what platform is the most successful, and what part of the country has the highest click-through rate on your ads. Literally anything you would want to know. This is heaven for us marketers.
Now, a question every marketer wants to know. How much will this cost me? There are so many different ways to advertise digitally, so the cost really does vary. You can put ads on Facebook, Snapchat or Twitter. You can use Google AdWords, put up banner ads, sponsored content, integrate a 15-second ad on YouTube; the list really is seemingly endless. Although these costs do vary, one thing that is definitive is that Digital is a much more cost-effective and efficient way to market than Television. The great thing about digital advertising is that you can create a budget, and decide where all your money goes. Maybe half will be spent on Social Media, 25% on Google AdWords and the other 25% on banner ads; whatever the case may be. It is not like buying a television spot where there is a pre-determined price that you must pay in order to get it (usually a very costly amount). If you are looking for cost-effective ways to market, digital is where you should invest. You are in charge of where your money goes and how it’s spent.
Digital ad spend is projected to account for almost 45% of all ad spend by 2020. There is a reason it is rapidly growing every year. It is more measurable, personalized, optimizable, cheaper and more effective than any other marketing channel. I have incorporated digital marketing into my practices and it would be wise for you to do the same.