Digital marketing is the category of marketing which makes use of digital technology to sell products as well as place them. It goes beyond the mere use of the internet. Digital Marketing (DM), portrays its 4Ps (Place, Promotion, Product, and Pricing) through Short Messaging Services (SMS), Search Engine Optimization (SEO) and electronic advertisements amongst other similar aspects (Chaffey and Ellis-Chadwick 24).
Digital Marketing involves two-way communication between the marketer and client where the client’s feedback is of high value to the marketer or seller. An example of this is communication through company messages on Twitter social media. McDonald’s, for example, tweets its customers who in turn respond by giving their feedback to scrutinize the company’s services. In DM, the marketer is called the source while the targeted client is referred to as the receiver.
As an aspiring marketing consultant, I feel intrigued to find the root cause of companies’ failures. My major interest is to find out how and why some firms’ failure is attributed to poor marketing. The aims of marketing are mainly product quality leadership and market growth, achieved through optimal cost (Goi 2). I felt agitated when Homejoy, a cleaning service firm I once admired, failed. On conducting a marketing analysis on the entity, I found out that they used traditional marketing modes. These marketing techniques came at a high cost. Would they (Homejoy) have used DM methods such as paid advertisements, they would have reached many clients at a comparatively lower cost. This action would have saved on the company’s always ever-reducing profit margins attributed to large marketing costs.
I have watched many modern companies fail in their quest to achieve product quality leadership. This is because they use traditional marketing schemes such as radio, modes which would achieve success only in an outdated monopoly situation. Product quality leadership can only be possible where one receives feedback from the client on the product, a factor offered by DM. This can enable companies to conduct a SWOT analysis on the product against its substitutes.
In these contemporary times, market growth is majorly achieved through globalization. With the advent of Digital Marketing, one can tailor campaigns to targeted audiences on the basis of gender, age, and location. As such, they can penetrate different market segments easily thus expanding their market coverage. Furthermore, the internet and other digital media have globalized the world. For example, through social media, an American company can advertise its cars in Africa and entice potential buyers there to purchase their product.
The future of marketing is digital Marketing. Very soon, all traditional marketing modes will be out-phased due to their incompetence. Modern firms are embracing and creating services tailored specifically for digital marketing (Goi 5). This is because they have predicted that this is the only form of marketing likely to survive in future. Latent Semantic Indexing (LSI), CRM applications, voice search, interactive content, influencer marketing and Internet of Things are just but a few examples of how the world is fully adopting digital marketing.
Literally, everybody is always online all over the world. Forums like Facebook, Pinterest, Twitter, YouTube, and Instagram are some of the ways digital marketing reaches clients. This social media marketing aspect possessed by Digital Marketing has seen the probability of attracting the modern customer in future become undoubtedly viable.
In my quest to become a marketing consultant, I envision myself as a digital marketing specialist in Internet of Things. I will be able to create more DM methods, one of which I picture as ‘The Digital Jacket’. I will first test this gadget by using it to market my company. Employees of my consulting company will be given the jacket for free, on a voluntary basis. The electronic apparel will produce warmth and at the same time display videos advertising my company in the back section on a small fitted screen. During the display sprees, the jackets will display videos of the vision, mission, and objectives of my entity. I speculate that this form of marketing will boost my company sales significantly, thereby acting as a pilot project towards my invention of other digital marketing tools.
Chaffey, Dave, & Fiona Ellis-Chadwick. Digital Marketing. Pearson Higher Ed, 2012: 20-34.
Goi, Chai Lee. “A Review of Marketing Mix: 4Ps or more?.” International Journal of Marketing Studies, no. 1, vol. 1, (2009), pp. 2-15.