Key text: 1Tim. 5:8, James 5:4
Marketing refers
to any activities that a company uses to promote its products and services and
improve its market share. In order to be successful, marketing requires a
combination of advertising savvy, sales, and the ability to deliver goods to
end-users. This is normally undertaken by specific professionals or marketers
who can work internally (for companies) or externally with other marketing firms.
Traditionally,
corporations focused on marketing through print, television, and radio.
Although these options still exist today, the rise of the internet led to a
shift in the way companies reached consumers. That's where digital marketing
came into play. This form of marketing involves the use of websites, social
media, search engines, apps—anything that incorporates marketing with customer
feedback or a two-way interaction between the company and customer.
Smartphone's and other digital devices
are now making it easier for companies to market themselves along with their
products and services to consumers. Studies show that people prefer using their
phones to log on to the internet. So it should come as no surprise that 70% of
individuals make buying decisions (usually on their phones) before they
actually hit the purchase button.
What
is Digital Marketing?
The
term digital marketing refers to the use of digital channels to market products
and services in order to reach consumers. This type of marketing involves the
use of websites, mobile devices, social media, search engines, and other
similar channels. Digital marketing became popular with the advent of the
internet in the 1990s.
It is the
marketing of products or services using digital channels to reach
consumers. The key objective is to promote brands through various
forms of digital media. In a layman’s term digital marketing is simply using
the normal marketing, promotion of use of services, your brand using electronic
devices, social media and other technologies and techniques that are available
on the internet.
Digital
marketing involves some of the same principles as traditional marketing and is
often considered a new way for companies to approach consumers and understand
their behavior. Companies often combine traditional and digital marketing
techniques in their strategies.
Key Takeaways
Ø Digital marketing involves marketing to consumers through
any number of digital channels.
Ø This form of marketing is commonly executed on websites,
mobile devices, and social media platforms.
Ø This form of marketing is different from internet marketing,
which is exclusively done on websites.
Ø Digital marketing is a broad field, including attracting
customers via email, content marketing, search platforms, social media, and
more.
Ø One of the biggest challenges digital marketers face is how
to set themselves apart in a world that is oversaturated with digital marketing
ads.
TYPES OF DIGITAL MARKETING CHANNELS
As
noted above, marketing was traditionally done through print (newspapers and
magazines) and broadcast ads (TV and radio). These are channels that still
exist today. Digital marketing channels have evolved and continue to do so. The
following are eight of the most common avenues that companies can take to boost
their marketing efforts. Keep in mind that some companies may use multiple
channels in their efforts.
1.
Website
Marketing
A
website is the centerpiece of all digital marketing activities. It is a very
powerful channel on its own, but it’s also the medium needed to execute a
variety of online marketing campaigns. A website should represent a brand,
product, and service in a clear and memorable way. It should be fast,
mobile-friendly, and easy to use.
2.
Pay-Per-Click
(PPC) Advertising:
Pay-per-click
(PPC) advertising enables marketers to reach Internet users on a number of
digital platforms through paid ads. Marketers can set up PPC
campaigns on Google, Bing, LinkedIn, Twitter, Pinterest, or Facebook and
show their ads to people searching for terms related to the products or
services.
PPC
campaigns can segment users based on their demographic characteristics (such as
by age or gender), or even target their particular interests or location. The
most popular PPC platforms are Google Ads and Facebook Ads.
3.
Content
Marketing:
The
goal of content marketing is to reach potential customers through the use of
content. Content is usually published on a website and then promoted through
social media, email marketing, search engine optimization, or even PPC campaigns.
The tools of content marketing include blogs, ebooks, online courses,
infographics, podcasts, and webinars.
4.
Email
Marketing:
Email
marketing is still one of the most effective digital marketing channels. Many
people confuse email marketing with spam email messages, but that’s not what
email marketing is all about. This type of marketing allows companies to get in
touch with potential customers and anyone interested in their brands.
Many
digital marketers use all other digital marketing channels to add leads to
their email lists and then, through email marketing, they create customer
acquisition funnels to turn those leads into customers.
5.
Social
Media Marketing:
The
primary goal of a social media marketing campaign is brand awareness and establishing
social trust. As you go deeper into social media marketing, you can use it to
get leads or even as a direct sales channel. Promoted posts and tweets are two
examples of social media marketing.
6.
Affiliate
Marketing:
Affiliate
marketing is one of the oldest forms of marketing, and the internet has brought
new life to this old standby. With affiliate marketing, influencers promote
other people’s products and get a commission every time a sale is made or a
lead is introduced. Many well-known companies like Amazon have affiliate
programs that pay out millions of dollars per month to websites that sell their
products.
7.
Video
Marketing:
YouTube
is one of the most popular search engines in the world. A lot of users are
turning to YouTube before making a buying decision, to learn something, read a
review, or just to relax.
There
are several video marketing platforms, including Facebook Videos, Instagram,
and even TikTok to use to run a video marketing campaign. Companies find the
most success with video by integrating it with SEO, content marketing, and
broader social media marketing campaigns.
8.
SMS
Messaging:
Companies
and nonprofit organizations also use SMS or text messages to send information
about their latest promotions or give opportunities to willing customers.
Political candidates running for office also use SMS message campaigns to
spread positive information about their own platforms. As technology has
advanced, many text-to-give campaigns also allow customers to directly pay or give
via a simple text message.
Digital Marketing Challenges
Digital
marketing poses special challenges for its purveyors. Digital channels
proliferate rapidly, and digital marketers have to keep up with how these
channels work, how they're used by receivers, and how to use these channels to
effectively market their products or services.
It's
becoming more difficult to capture receivers' attention because receivers are
increasingly inundated with competing ads. Digital marketers also find it
challenging to analyze the vast troves of data they capture and then exploit
this information in new marketing efforts.
The
challenge of capturing and using data effectively highlights that digital
marketing requires an approach to marketing based on a deep understanding of
consumer behavior. For example, it may require a company to analyze new forms
of consumer behavior, such as using website heat maps to learn more about the
customer journey.
Management Principles Every Business Manager Should Know
1.
Division of Labor:
Figure out what you’re employees are good at, and assign them tasks
that play to their strengths. All employees
have their own set of strengths and weaknesses. And if you know your employees’
skill set and let them specialize in their strengths and expertise, they’ll
sharpen their skills and boost your team’s efficiency, productivity, and
accuracy.
Allowing your
employees to specialize in one or two related skills everyday gives them more
repetitions and time to master their craft. They’ll improve a lot faster
compared to learning a broad range of skills. And the better they are at their
jobs, the better your team will perform.
2.
Party of Authority and Responsibility
You should take
on more responsibility for your team's output as you gain more power. In nearly
all organizations, management makes the calls. As a manager, your job is devise
your team’s overarching strategy and collaborate with your employees to find
the most effective and realistic way to implement your vision
3.
Discipline
You should
demand as much discipline in your team as you do with yourself. Every
successful leader knows discipline goes both ways. You need to earn your
employees’ respect, so they feel compelled and genuinely interested in
following you. This way, you can streamline your team’s processes and help your
employees produce quicker and better results.
4.
Unit of Command
Each of your employees
should only have one manager. Your employees are the most successful when they
only have one direct manager overseeing their work. This creates a direct,
genuine relationship between the two, and clarifies your employee’s sense of
direction at work.
5.
Unity of Direction:
Each of your teams
should only have one plan of action. Each group of employees who have similar
responsibilities and goals should pursue one plan to achieve those goals. As a manager, you should set clear goals for your team,
document your plan of action, and monitor progress. You also need to
effectively communicate the purpose and benefits of your vision, so your team
will buy in and do whatever they can to achieve your goals
6.
Subordination of Individual Interest
Your employees
should prioritize the company’s interest over their own personal interests.
Everyone has their own unique interests that they should pursue. But in terms
of work, your employees should prioritize the company’s interest over their
own’ personal interests. If you don’t clarify the importance of putting the
company’s goals ahead of individual goals, workers who constantly pursue their
personal interests before their company’s could veer your business off the path
that’s best for them.
7.
Remuneration:
You
should reward your employees. One of the best ways to motivate your employees
is to regularly recognize their accomplishments and milestones and ensure their
compensation reflects their performance. Ample recognition and fair
compensation helps your employees meet the majority of needs in the most
influential model of motivation
8.
Degree of Centralization:
There should be a
balance of authority between upper, middle, and lower management in your
organization. When a company is centralized, it means that upper level
management has all the decision-making power. On the other side of the
spectrum, when a company is decentralized, middle and lower level managers
wield more power in the company’s decision making process, just like a
democracy.
9.
Scalar Chain:
There should be an
clear chain of communication in your organization. Hierarchies exist in every
business. From the executive board to your own team, they’re everywhere. And
that’s not necessarily a bad thing. Messages and
requests should go through a chain of communication. If you want to communicate
to the highest part of a hierarchy, you need the help of the employees who are
just above you to get your message across.
10. Material and Social Order:
You need to make
sure your employees can succeed. To help your employees do their jobs well, you
need to make sure your teams have enough resources and know what resources they
have at their disposal. You should also ensure their work environment is safe
and clean -- a place where they look forward to going to work every day.
11. Equity:
You should treat
your employees fairly. In exchange for your employees hard work and dedication,
you need to treat them fairly in return. This is crucial for healthy
employee-manager relations because if one of your employees feels like other
team members are getting preferential treatment over her, she’ll feel
discriminated against, making her less happy and motivated at work.
12. Stability of Tenure:
You should strive
for a low turnover rate on your team. Your new employees need time to get used
to their work, improve, and, ultimately, succeed. Of course, you should expect
your employees to master their jobs eventually, but if you don’t give them
enough time to get acclimated, you’ll have to let them go -- they won’t be able
to hit their lofty goals immediately. Constantly recruiting new hires, training
them, and then recruiting their replacements is a waste of your time and
resources.
13. Initiative:
You
should let every employee make an impact on your team. Your employees shouldn’t
be scared to express their ideas. Instead, you should encourage them to take
initiative and always be striving to improve your team’s efforts.
14. Espirt de Corps:
You should know
how to boost your team’s morale. Managers are leaders. You need to know how to
get your team to passionately support a mission, even during the rockiest of
times. And there’s three things you need to consistently do to make sure this
happens.