India, being the fastest growing economy across the world with a consistent GDP growth rate of 7+ %, has become the third largest start-up hub in the recent years with US and UK at the first and the second spots. In this conducive environment for starting a new business, many people are showing the courage of dreaming big, i.e., striving to become the next Flipkart and PayTM. They are venturing into diverse and niche consumer segments to cater their specific needs. These segments can be reached in an effective manner using Digital Marketing as traditional media (TV, Print, Radio, etc.) is a not a good idea for start-ups because of three major reasons:
- The costs incurred in using the traditional media are very high which are difficult for start-ups to afford.
- The traditional media caters to almost all segments of consumers which are not even the target groups for the business, thus wasting funds by not optimizing.
- More and more potential consumers in this tech savvy world are moving away from traditional media and have started consuming digital media in a big way.
Marketing via digital media solves these issues and gives an opportunity to small businesses to reach their consumers in a targeted manner. The targeting achieved by digital media is on a micro level specifying the demographics, location, interests, usage pattern of digital, etc., which reduces the costs of marketing considerably, not compromising on reach and quality of the message at the same time. Targeting also leverages the power of Big Data and applies the concept of Re-Marketing, i.e., the same digital ad following the potential consumer on various digital platforms based on his historic usage pattern.
With the increasing significance of Digital Marketing across various industries and subsequent advent in the technology, various tools for digital marketing have proliferated in the recent years to improve the effectiveness and efficiency of the campaigns. Let’s discuss some of these technologies which has revolutionised the whole concept of reaching out to consumers.
A Digital Command Centre is a state-of-the-art tool which helps businesses in digital listening and analysing trends. This enables businesses to respond to the conversation opportunities on different digital platforms in real time. A great and quick online presence can be achieved by real time visualisation of performance metrics, quality dashboards and analytics employed by the Command Centre.
Another tool which gives brands competitive intelligence and advantage over others is SimilarWeb. It helps marketers in a big way, looking at competitive data in a structured and optimised manner. It makes easier to find patterns of consumer behaviour and to come up with relevant and deeper insights by allowing marketers to compare and manage upto 5 websites at a time. Some of its features include a visual dashboard incorporating a lot of relevant data divided into general overview and 8 other parameters: Search Traffic, Social, Audience, Display Advertising, Search Traffic, Social, Mobile apps and Similar sites. The rich information gathered via these features helps a marketer to know in detail about his/her consumer set and to design the entire campaign in a highly optimised manner.
There are plenty of other tools which can be used in conjunction to amplify the impact of the marketing campaign. For example Google Search Console, Google Adwords, Google Trends, MOZ, etc. are very handy for SEO/SEM. Content Marketing is also an important tool which can be executed using wordpress, hubspot, etc. Shortstack, Hootsuite, etc. help in Social Media Management. Hence, a marketer has a large array of tools at his/her disposal which can be used to create a digital integrated marketing campaign touching various digital touch-points of potential consumers in a highly targeted fashion.
In this VUCA world, if you are running a business and are not concerned about digital presence, then you are at a great risk. It means you are not leveraging the full potential of your business. But it also doesn’t serve anything good if you directly jump into digital and use it in a random manner not understanding how it can help you and your business in particular.
“The Social Media Survival Guide” written by Sherrie Madia and Paul Borgese addresses the concept of growing your business exponentially using Social Media. It also identifies the common mistakes done while using Digital Media as a marketing tool. These include diving into this sea without a strategy, just blogging, tweeting, facebook posting not knowing exactly what is your audience, what is your message, who will manage this and how your audience will get benefitted from the content and your product/service. Also, digital marketing needs constant activity and monitoring for exceptional results and data history leads to great outcome if properly analysed. So, a business should not take it lightly and hire highly professional people specialising in digital marketing to gain the maximum. Content is God in Digital Marketing. Loose content is not helpful. As a business, you have to understand the intrinsic motivations of your target audience and create strong, smart and well thought-out content which connects with the target audience on an emotional level and adds value to them.
To avoid these mistakes and create a seamless digital marketing campaign it’s very important to realise that there is a huge difference in using social media for personal use and business use. A right set of people with careful monitoring of return on investment can prove to be very beneficial. A differentiated communication via digital gives a competitive advantage to a startup at minimal costs which is a boon for its existence and growth and makes it shine in this vast digital world.
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