By now, you have probably already come across the term digital marketing. You, however, might not have put a finger on what it is exactly.
In the past two years, technology and global conditions like COVID-19 have redefined the ways we communicate and engage with each other, and digital technology has been one of the greatest influencers.
Today, most Kenyans aged between 21-35 years spend more than 3 hours on social media and other internet mediums daily. This has informed the premise under which most marketers and brands have resorted to digital marketing as one of their preferred channels in which they engage and push their products to different customer segments.
What is digital marketing?
Digital marketing in its entirety encompasses all marketing efforts that use electronic gadgets or the internet. Businesses leverage digital channels to connect with their existing and prospective customers.
Digital marketing includes a variety of methods including Search Engine Optimization (SEO), influencer marketing, content marketing, Search Engine Marketing (SEM), social media marketing, and programmatic and display advertising.
Benefits of digital marketing
Any business, either selling commodities or selling services requires the use of digital media. Unfortunately, several businesses are still stuck to traditional marketing despite it being generally more time consuming and resource intensive.
Digital marketing presents an open opportunity. It helps you reach a larger audience than you could through traditional methods and target the prospects who are most likely to buy your product or service. Additionally, it’s often more cost-effective than traditional advertising and enables you to measure success on a daily basis and pivot as you see fit.
“If you are looking to make better returns on your investment, digital marketing is an ideal solution. Whether through email marketing, advertising on social media or using other digital techniques, you suffer fewer expenses and pull a larger consumer base, all of which help maximize the returns on your business.”
Digital marketing also allows you plenty of room to adjust. Think of a product you want to advertise on Facebook or Google. You intend to pass a certain message through it. Later on, you realize that the message is not effective. In such a case, you can adjust the advertisement campaign details to meet the level of performance you need for your business.
Key digital marketing terms that you should know
Impressions – The number of times your ads have been exposed to our target audience
Reach – The number of unique users that saw your ads
Engagement – The number of times that consumers interact with your brand or products
Clicks – The actual number of clicks on your ads have garnered
Users – The consumers that subscribe to your business
Click-Through Rate (CTR) – The rate at which users are clicking through your ads
Cost Per Install (CPI) – The amount paid per installation of an app on a mobile
Cost Per Lead (CPL) – The is the amount paid to generate a new prospective customer
Cost Per Acquisition (CPA) – The amount paid to acquire a customer
Cost per click (CPC) – The amount paid to acquire a single click on the digital platforms
Cost per view (CPV) – The amount paid to acquire a single video view
Cost per 1000 impressions (CPM) – The amount paid to digital platforms to acquire 1000 impressions
Conversion rate – The percentage rate at which a particular action is performed – the number of successful conversions divided by the total traffic.
Revenue – Total amount of income generated by the sale of products
Artificial intelligence – Simulation of human intelligence in machines that are programmed to work and react like human beings.
Contextual marketing – The delivery of correct content and the correct moment based on the preferences of a potential consumer.
Targeted traffic – People visiting a website with intention, in the hope that their wants will be met therein.
Keyword proximity – How close two or more keywords are to each other.
Quality Score – Rating the relevant and quality words utilized in PPC campaigns.
Why it is important to factor in digital marketing in your business
In more instances than one, you have probably dismissed not only advertising but the whole idea of digital marketing. Most business owners treat marketing more as a misconception, brushing off the numerous advantages it could bring to their business.
- First, digital marketing is important due to its connectivity.
- The average consumer is potentially exposed to 10,000 brand messages each day. Of the total consumers, more than 90% will want to look at your website before deciding on purchasing your commodity.
- An even higher percentage will be found online looking for a commodity they are interested in purchasing.
- Finally, around 80% of the consumers will look up a business’s location online, and more specifically on Google Maps.
If you’re not already considering consulting a digital marketing expert by now, think about the whooping prices traditional marketing comes with. Get more information on digital marketing here.
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