Marketing in all its forms is about connecting with your consumer at the right time and place. It is all about gauging the need and creating a gap that can be filled with a tactical marketing strategy. The recent decades have seen a surge in internet usage, and hence marketing has to be spearheaded by a robust digital campaign. You have to reach the consumer where they spend the maximum time – on the internet.
Digital marketing has been instrumental in helping brands stay relevant in the times of the internet. The brand equity is now built by visibility across different channels. Traditional products, as well as technology-based products and services, have been benefited by digital marketing processes.
Marketing Technology Products or Software
SaaS or ‘Software as a Service’ is the blue-eyed boy of technology-based products.The process is a fast and efficient way to achieve sales. Traditional sales have a propensity to be long drawn and tedious while SaaS has proven to be more or less self-service. A short video or demo is usually enough to get the ball rolling. As software is dynamic, and it keeps on evolving, the sales process has to be fast to avoid iterations in the product.
SaaS products need the grease of free products or services to make sales effective.It is common for sellers to sell through Emails, videos, and explainers. A with or without the involvement of credit card details is almost mandatory to make a targeted campaign seamless.
Revenue is dependent on customer retention, which is critical in the software industry.The marketing campaign needs to offer a lifetime value to the customer. Studies show that revolving revenue is generated from existing SaaS customers in the long run. The product and the service need to be excellent to retain customer delight. You have to be on the dot with responsive customer service.
New marketing strategies have shown an exciting trend. Approximately 80% of the revenue is garnered from just 20% of the current customers. A minor increase of 5% in customer retention can boost profits by 75%. The process of marketing SaaS products is evolving every day and is wholly dependent on online processes.
The Best Practices Mantra Of Digital Marketing
Every marketing campaign, whether in the digital space or traditional needs a few directives to be successful. As businesses are exponentially moving into the digital or E-commerce realm, marketing campaigns have evolved in this domain.There are a few best practices that need to be kept in mind when you are designing a campaign that is sure to wow the client with conversions and build brand equity.
● Omni channel marketing is perhaps the best bet when you are planning the sales funnel for a product. It is a form of multi-channel marketing that affords a seamless shopping experience to end consumers.The aim is to provide the right messaging at the perfect time to aid conversion from every channel. The experience requires the campaign to be consistent throughout the buying process. The process should revolve around customer need rather than focus on a specific channel. A consistent brand voice across all channels is the need of the hour. Cohesiveness is the cornerstone that marks the use of multiple digital channels to cleave as a whole. The utility of each channel has to be mapped at every stage of the conversion process. Leveraging digital media to enhance customer experience is the key to Omni Channel marketing.
● Artificial Intelligence or AI and Machine Learning or ML are tools that have successfully empowered digital marketers to target audiences with precision.There are many useful tools in your arsenal to connect with buyers and convert leads into sales.
- Conversational AI or chat bots are the perfect way to open a dialogue and resolve customer queries online. You can deliver content, understand specific requirements, provide support, and helping customers buy the product or service they require with no human intervention. You can even automate the process of updating consumers on the status of their orders in this manner.
- Personalization is the next step. Every customer seeks a personalized buying experience. AI and ML can help you become an effective digital marketer. You can predict user behavior and deliver a customized process based on the findings of a similar segment of buyer characteristics.
- Video marketing has proven to be the next big thing in digital tools. Nearly 85% of businesses are now using videos as a marketing initiative. It is a cool way to disseminate information, boost engagement, and widen the funnel. Most social media platforms, websites, and other channels will allow you to place a video to put across your brand story. The content marketing tool is perceived as the best way to serve up information as a story.
- Email marketing is a potent marketing tool. Emails are mobile friendly and can be used to reach a broad audience. Do remember, emails are free! Drip campaigns, promotion of new content, expanding the customer base, offers of discounts and offers as well as garnering feedback is seamless with a penetrating and eye-catching email. An exclusive email community or tribe can be built with this tool with interactive and user-generated content to enhance customer engagement.
Creating a Cohesive Content Experience
Creating cohesive content is the first step in the brand creation process. Running on-going advertisement campaigns and other branding exercises is complemented by diversifying content marketing efforts in sync. Texts, videos, info graphics,podcasts, webinars, and gated content are some ways to diversify efficiently. Re-purpose the content to create synergy and have the same voice across platforms. The content strategy can be supercharged by creating an effective distribution format. It is best to harmonize the same theme to create an impact that lingers and allows continuity.
Why Businesses Need Digital Marketing
Every business today needs a push and pull strategy. In more professional terms,there needs to be a combination of outbound and inbound marketing to create traction and aid conversion. Digital marketing has some intrinsic bonuses over and above standard marketing.
● Traditional marketing needs a long time to mature into sales. There are a long gestation period and involvement of human interference. Digital marketing, on the other hand, has a short fruition period and can afford you faster turnarounds with little or no physical involvement.
● The cost factor is also much lower as there are low upfront costs. It is the optimal business strategy as there is a low-cost input with a potentially very high output.
● Measurability is the hallmark of digital marketing. It is difficult to gauge the result of a traditional marketing campaign in exact parameters. But, sophisticated analytical tools make the impact of digital marketing endeavors very measurable. Impressions, traffic,number of clicks, and sales conversions can be understood by the attribution model you implement. The contribution of each touch-point towards the sales process can be calculated with precision.
● Once you can measure the contribution of each avenue of digital marketing, it becomes easy to tweak the campaign very quickly. It is impossible to change the roll out of a traditional sales approaches it involves many people, training, distribution points, and other factors.It makes marketing supple and malleable, and approaches can be based on consumer feedback.
● The traditional marketing campaign is universal, and every medium is open to all. This creates difficulty in using resources optimally to target a specific audience. Digital marketing, on the other hand, can be used to pinpoint a specific target audience based on geography, demography, ethnicity, or other parameters. This makes the campaign more likely to lead to sales or subscriptions.
● Customer engagement is more manageable with digital mediums. Interactive software and technology help in gathering feedback and engagement. Long-lasting customer bonds and trust are built in this manner.Customer support is more responsive, and that adds to the appeal of the brand.It is useful in generating leads, following up the leads with emails and messaging, and closing the sale with maximum engagement.
● The most significant advantage of digital marketing is that you can roll out a massive campaign with minimum fuss. The reach is multiplied manifold as the geography of the campaign does not affect it as in traditional approaches. It is much cheaper and less labor-intensive to build a digital marketing campaign to reach a global arena.
Digital Branding Has Better Retention Value
Internet is the oil that greases the world commerce engine in current times. The advent of the smartphone has changed the way people shop, browse, and even look at advertisements. Any form of digital media has advertisements built-in. Some of these digital platforms allow advertisements that have to play mandatory. It creates a window where the customer hears and visualizes a product or service repeatedly. It is all-pervasive and almost any screen time that you allow yourself will bombard you with the ads.
AI and ML have also invaded what you search on the internet. You are shown advertisements based on your search history. The result is a laser focus on your requirement. Customers are more likely to retain the brand of a product or service they have recently searched for, and conversion is higher.
We can safely conclude that digital marketing is a superior option than traditional marketing. Create and promote your brand’s digital footprint today!
Monday, June 29, 2020