Talking about Digital Marketing, Digital Marketing can be defined as the marketing of products and services using digital technologies. It is all about building brands, promoting products, developing leads and engaging your customers. Digital marketing is also known as Internet Marketing.
Some of the examples of Digital Marketing are Search engine Marketing, Social media marketing and Content Marketing.
Users of Digital Marketing
They are the viewers who view the ads and website based on their requirement.
Advertisers are people who pay to get their ads shown on websites.
Publishers are those who host an advertisement.
4. Advertisement Agencies
It basically deals with creating, planning, handling advertising and sometimes other forms of promotion and marketing, for its clients.
Types of Digital Marketing
1. Search engine Optimisation
2. Pay per click (PPC)
3. Public relations
4. Content Marketing
5. Social media Marketing
Talking about Pay per click, it is commonly known as PPC. It means that, an advertiser will be charged, each time, the user clicks on his ad.
Before I talk about the different pricing models involved in Digital Marketing, let me tell you something about Impressions. In Digital Marketing, impression means, the number of times, the advertiser’s advertisement (Ad) is shown.
Pricing models in Digital Marketing
1. CPM : Cost per 1000 impressions. It means that, advertiser will be charged, only if his advertisement is shown 1000 times.
Average CPM: Total Cost/ Impressions*1000
2. CPC: Cost per click. It means that, the advertiser will be charged when the user clicks on his advertisement.
Average CPC: Total cost/No of clicks
Conversion: If the customer purchases something online, based on your advertisement, it is known as a conversation.
3. CPA: Cost per acquisition or Cost per conversion. It means that, advertiser will be charged only if the user or viewer does a sale or purchases something from the website.
Average CPA: Cost/ Conversion
Advantages of Digital Marketing
1. Cost efficient: We can easily plan a successful online marketing strategy using digital Marketing.
2. Digital Marketing helps in developing your brand by promoting it on several platforms.
3. Using Social media marketing, we can advertise our advertisements on social networking platforms such as Facebook, Twitter and LinkedIn.
Disadvantages of Digital Marketing
1. Industrial and pharmaceutical goods cannot be marketed through digital channels.
2. Limited Internet access: Digital Marketing is not possible in areas where there is limited or no internet access.
3. Promoting strategy can be copied. Any competitor can copy the promotion strategy and use it to its advantage, by modifying certain details in the strategy.
Digital Marketing is a huge topic and we can discuss about it at length. The information given by me, is just a general idea about what Digital Marketing is all about and how best it can be utilised. My advice to young and budding Digital marketing professionals, would be to understand as much as possible about Digital Marketing. Give yourself enough time (say 3 to 4 month or max a year), and post that, once you have acquired enough knowledge in this field, Sky is the limit. Digital Marketing has a lot of scope in the market and you can earn a lot, if you are able to do well in this field. A word of caution from my end would be to weigh the pros and cons of Digital Marketing and have a good idea about the upcoming or latest trends in the market, before you start advertising your ads online. This will help you achieve success.