Digital Marketing

Table of Contents:

1. The Importance of Marketing
2. What is Digital Marketing?
3. Types of Digital Marketing 
4. The Internet Drives Success in the Modern World
5. Benefits of Digital Marketing
6. Why Digital Marketing Fails
7. Keys to a Successful Digital Marketing Campaign
8. Download Our Free Digital Marketing Guide

The Importance of Marketing

“The thing that drives everything is creating genuine value for customers” - Jeff Bezos

Marketing simply is providing value to your target market. Marketing is always about the client, it's about understanding their pains, needs and frustrations, then making them feel understood so that you can position your business as the absolute best solution to their desired situation. 

Marketing is so important to understand because you’re always trying to market yourself and you’re being marketed to by everyone from everywhere. Marketing should answer the question of your customers: Why should I care? Why should I buy or not buy? What value will this add to my life?

Marketing is the single most important aspect in business because it's not the best business that wins, it's the business with the best marketing. It’s truly the only way to create a profitable, sustainable, and freedom providing business. 

What is Digital Marketing?

Digital marketing is the promotion of products or services on the internet through websites, social media, search engines, mobile apps, pay-per-click (PPC) advertising, content marketing, email marketing and much more. 

It allows companies to collect data and insights on their target audience, track the performance of their campaigns, and adjust their strategy as needed to continuously improve their results.

These days screen time is at an all time high and only seems to be going up. Digital Marketing takes advantage of this by reaching the right audience with the right message, at the right time, and on the right device, to drive business growth and customer engagement. 

Types of Digital Marketing:

1. Search Engine Optimization (SEO): The practice of optimizing a website to improve its ranking on search engines like Google. 
2. Social Media Marketing: The process of promoting a product, service, or brand on social media platforms such as Facebook, Instagram, Twitter, LinkedIn, etc. 
3. Pay-per-click (PPC) advertising: A type of online advertising where advertisers pay each time a user clicks on one of their ads.
4. Email Marketing: The use of email to promote a business, by encouraging engagement, driving conversions, or building customer relationships. 
5. Mobile Marketing: Marketing specifically designed for mobile devices like smartphones & tablets.
6. Video Marketing: A strategy that involves creating and sharing videos that are informative, engaging, and persuasive, with the goal of reaching and converting a target audience.
7. Omni Channel:  It aims to provide a seamless and consistent customer experience across multiple digital channels (Website, email, social media, etc). The goal is to create a holistic approach that leverages multiple channels to reach, engage, and convert targeted customers.

These are just some of the many digital marketing platforms and tactics available. The specific platforms and tactics used will vary depending on the type of business and its target audience.

The Internet Drives Success in the Modern World

Bill Gates said “If your business is not on the internet your business will be out of business.”  

Having your business on the internet is crucial for success in 2023 and beyond because most businesses already have an online presence, so having one is key to staying relevant and competitive.

Most importantly, having an online presence provides a worldwide platform to showcase your products or services, making it convenient for customers to access & make purchases 24/7, and it reduces costs compared to a physical store.

Digital marketing is a tool that is used by businesses all around the world right now and will be used for generations to come due to its cost-effective way to reach a wide targeted audience with a great potential for a high return on investment. 

In addition, Digital Marketing offers an engaging experience for potential customers and allows for real-time adjustments to campaigns to ensure optimal results. By leveraging the benefits of digital marketing, businesses can effectively reach their goals and succeed in today's market.

Benefits of Digital Marketing

• Enhanced Targeting – Digital Marketing allows for very specific targeting on the demographics of potential customers. Businesses can target customers on their shopping habits, location, age, interests, behaviors, where they spend most of their time and much more. 
• Measurable ROI – For businesses looking to maximize profits, they must carefully measure their return on investment. Digital Marketing provides real time stats on the effectiveness of each campaign, making it easy to drive revenue & increase profit.
• Dynamic Adaptability – Digital Marketing is extremely flexible, allowing businesses to make quick pivots when needed and optimize campaigns for the best results!
• Generate a Consistent Lead Pipeline – Lead generation is crucial for business growth. Use Digital Marketing to capture valuable leads and nurture them to eventually become sales.
• Cost Effective –  Compared to traditional marketing, Digital Marketing is much more affordable and cheap. The average cost to reach 1000 people in 2022 on Facebook is only $13. Traditional & offline marketing methods will usually cost $22 & up. 
• Brand Reputation & Credibility – Social Media is a dominant communication platform for many customer demographics. Businesses that have a solid social media presence help to build trust with customers and establish a better reputation online.
• Remarketing / Retargeting - A digital marketing technique that targets previously engaged website visitors with relevant ads. This increases conversion rates and improves the customer experience by delivering personalized and relevant ads to a targeted audience.

Why Digital Marketing Fails

The Two Biggest Reasons a Business will Fail: You're offering a product or service that nobody wants. Or you don't have enough cash to pay expenses when they’re due. Which ultimately means you're not doing enough marketing or your marketing is failing. Here are several reasons why Digital Marketing can fail:

• Poor Execution - Failing to meet the needs and preferences of the target audience or poorly meeting creative execution will result in low engagement and ROI. Not regularly updating ad copy or targeting can result in decreased effectiveness over time.
• Competing for Attention - With consumers being constantly bombarded with ads, it's becoming harder to grab their attention. Marketers face the challenge of making their brand noticeable in this crowded advertising landscape
• Inadequate Budget - A limited budget can prevent businesses from using the right tools, technologies, and resources to effectively reach and engage with the right consumers. 
• Technology - Failing to stay up-to-date with new technologies and trends in Digital Marketing can result in ineffective campaigns and missed opportunities. 
• Offline Efforts - Neglecting to integrate Digital Marketing efforts with events and traditional advertising can result in a disconnected and ineffective overall marketing strategy. 
• Quick Tips - Advertising fails when you are too much of a perfectionist. Make sure to Follow Data privacy laws. Don’t over promise your service. If your foot is halfway out the door, you will never get results. You need to be fully invested. 

Keys to Successful Digital Marketing Campaigns

Advertising platforms make it easy and super simple to succeed because they want you to succeed. Facebook & Instagram make almost all their money through advertising and it clearly works since many people have succeeded with it. 

Clear Goals: 

Define what you want to achieve with your campaign & align your efforts to meeting those goals.

• A successful Marketing Strategy will turn $1 into $2, $5, $10, or even $50. If you put in $2000 you should get back $5000 or $10,000 back. This is your goal as a Digital Marketer.
• The goal of any sales funnel is to simplify a process of getting a complete stranger to a paying customer without manual effort.

Data Trumps All   

Data plays a crucial role in digital marketing because it provides the insights needed to make informed decisions, personalized experiences, and measure the impact of marketing efforts. By leveraging data, marketers can create more effective and efficient campaigns, and ultimately achieve better results.

• Testing and Optimization - Continuously test and optimize your campaigns to improve results and maximize ROI. The more data points we feed into our campaigns, the better it will improve over time.

• Estimating Ad Performance - It’s vital to have a baseline estimate of how ads will need to perform in order to be profitable (minimum 2:1 ROI) or you’ll be simply wasting money.

• Multivariate Testing - A technique for testing a hypothesis in which multiple variables are modified. The goal of multivariate testing is to determine which combination of variations performs the best out of all of the possible combinations. 

• A/B Testing - Testing and comparing two versions of a page element (Heading, image, button) for relative effectiveness and performance between the two.

For looking for success in conversions, You need to have multiple winning ads, copy, and audiences. These A/B testing and Multivariate testing are very important because they help to create the best possible ads for your buck.

Campaign Creation Tips:

1. The main goal of advertising platforms is to ensure that users still have a positive user experience. You will be rewarded for creating cool, creative content & punished for annoying, unappealing ones.
2. Marketing is about patience. The #1 mistake is giving up too early and not building the audience enough. Try to give an advertising platform at least two weeks before changing anything.
3. Personalize your messages and offers to reflect the individual preferences and needs of your target audience.
4. Use storytelling techniques to engage and connect with your target audience, and make your brand more memorable. 
5. Use creative visually appealing graphics, images, and videos to grab the attention of your target audience and make your content more engaging.
6. Ensure your website and emails are optimized for mobile devices, as more and more people are accessing the web on their smartphones.
7. Have a strong call to action. Encourage customers to take a desired action, such as making a purchase, filling out a form, or visiting your website. 
8. Understand who your target audience is, what they care about, and where they spend the most time online.
9. Maintain a consistent brand image, tone, and messaging across all channels and touch points. 
10. Leverage customer reviews, testimonials, and social media to build trust and credibility with your target audience.
11. Choose the right Time to launch your campaigns, taking into account factors such as seasonality, holidays, and industry trends.

People don’t like to be tricked into buying off an ad. If they know it is an ad, they won’t want to click on the ad. You need to market it as free information, 90% of marketing is educational, personalized content, 10% is the hard sell. Great Marketers don’t advertise or hard sell, they provide value. 

Download Our Free Digital Marketing Guide

https://docs.google.com/presentation/d/1_uXsWZkrecfOiwMpPohoBtqpUihhODFqOgA1jVmpDtU/edit?usp=sharing

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