What is digital marketing?
Digital marketing is a term that encompasses all the ways you can use digital channels (like social media, your website, and email) to connect with potential customers and create more sales for a business.
Quick facts about digital marketing:
- Companies that blog have 55% more website visitors than companies that don’t.
- Every minute of the day, Instagram users post 46,740 photos and YouTube users upload 72 hours’ worth of video.
- The average person spends 2 hours a day on social media.
- 78% of people think business websites are trustworthy.
- 93% of online experiences begin with a search engine and mostly on Google.
Benefits of Digital Marketing for Your Business
In today’s digital world, you can’t afford to skip digital marketing. Not only do consumers shop online, but they also use the internet to find businesses and read reviews about those businesses before making a purchase. If you’re not doing digital marketing for your business, there’s a good chance that your competitor is—and that means they’re getting more sales than you.
Here are some of the top benefits of digital marketing:
More Sales: If you want to increase your sales, digital marketing is one of the most effective ways to do it. Your business will be more visible in search results, so more people will see it—and more people will buy from you.
Reach Customers Anywhere: With traditional marketing, it can be hard to reach customers in other areas or cities. But with digital marketing, you can easily reach customers across the country (or even in other countries) with just one ad campaign.
Cost-Effective: Digital marketing is one of the most cost-effective ways to market your business because you only pay for ads when someone clicks on them (you don’t have to pay for impressions or for someone to see your ad).
How digital marketing has changed over time
The digital marketing landscape has evolved significantly over the past few years. In fact, it’s transformed from a set of niche practices to a fully integrated and essential part of any modern marketing strategy.
Content is no longer an optional component of your digital marketing strategy; it’s a major factor in whether or not you will succeed in reaching your audience. Your content needs to be optimized for SEO, and it needs to be educational, interesting, and relevant to your target audience.
Social media is now a critical part of any successful digital marketing strategy and has the potential to reach millions of people around the world. It can also increase brand awareness, brand loyalty, conversion rates, generate leads, and drive website traffic.
Mobile devices have become increasingly popular in recent years because they are easy to use and highly portable (and they don’t require an internet connection). Mobile devices also offer unique features such as location services that enable marketers to target consumers based on their current location.
There are many other emerging trends that are important for marketers but here are the 2 key trends to consider:
- Personalization – This includes personalizing content across multiple channels according to the user’s demographics or interests. Personalization is often used with mobile devices because they make it easier for users to access content on the go and customize their experience based on their preferences or activities (such as browsing history).
- Videos – Videos have become increasingly popular in recent years because they allow marketers to engage with customers by showing them what happens behind-the-scenes at an event or product launch event for example (without needing any special equipment). A video also makes it easier for people who may not know about a particular topic yet understand what’s going on quickly through visuals rather than reading text which can be difficult if you’re trying hard not too misspell anything since English isn’t your first language! And finally, these types are great because they’re engaging so people tend not stay longer on pages where there’s video content
Digital marketing vs. traditional marketing
The difference between traditional and digital marketing is that traditional has a wider reach, but it’s too expensive for most businesses. Let’s look at how these two types of marketing differ:
- Traditional marketing is one-way. It involves a company pushing out information about its products to customers through advertisements and other mediums like TV commercials and billboards. Digital marketers can advertise their products online in much the same way, but they also have the option of reaching out on social media platforms where customers interact with each other directly. This makes digital marketing more interactive, dynamic, and responsive than traditional forms of advertising. Digital marketers can even track which ads work best based on an individual customer’s preferences by using cookies or other tracking tools built into modern browsers like Chrome or Safari.
- Traditional marketing costs more than digital marketing. With traditional advertising methods like billboards or newspaper ads, the cost per impression is higher than in digital campaigns where you target specific audiences with personalized messages using tools like Google Analytics (GA) to tune your campaigns for maximum impact at minimal expense.”
Digital Marketing vs. SEO
“Search engine optimization (SEO) is the practice of getting traffic from the “free,” “organic,” “editorial” or “natural” search results on search engines.
All major search engines such as Google, Bing and Yahoo have primary search results, where web pages and other content such as videos or local listings are shown and ranked based on what the search engine considers most relevant to users. Payment isn’t involved, as it is with paid search ads.”
Digital marketing uses SEO in order to target your audience through keywords and phrases. The better your SEO practices are, the more likely you will be able to reach your audience through searches that they make. Digital marketing also uses different channels like websites, emails and social media in order to reach a wider audience than if you were just focusing on SEO alone. When used together with SEO practices in mind, digital marketing can help to make sure that you are reaching specific audiences rather than simply hoping for them to stumble upon your website or blog post.
Digital marketing vs. content marketing
There is a lot of confusion between content marketing and digital marketing. The two concepts are often used synonymously, but they’re not: digital marketing is much broader; it extends far beyond content marketing. Content marketing, on the other hand, sits within—and contributes to—digital marketing:
Content marketing is the process of creating and promoting content with a business objective. This can include blog posts, ebooks, case studies, videos or any kind of informational material that helps your audience make decisions. It’s “pull” vs “push” – you’re trying to help users find you when they’re looking for information rather than pushing your ad in front of them hoping for clicks (which is what happens in traditional advertising).
Digital marketing is the process of promoting your business online; this includes everything from social media pages to blogs to websites that you pay to show up at the top of search results (e.g., Google AdWords). Content marketing should sit at the core of any digital marketer’s strategy because it provides one thing that no amount of money can buy: trust-building stories that resonate with people on a deep level.
Digital marketing metrics to measure in 2022
A customer lifetime value (CLV) model will give you a good measure of each individual’s value. It is a metric used to estimate the total value a business can get from its entire relationship with a customer. A CLV model helps you make more accurate predictions about your customer base and understand them better. This will help you determine which segments of customers you should focus on by identifying those who are most likely to convert or churn.
For example, if your CPA is $500 and your CLV is $1,300, then you’re probably in good shape.
CPA stands for cost per acquisition. It measures the cost-effectiveness of a digital ad by comparing how much money it made you with how much it cost you to run. To calculate CPA, you divide the total amount of money you spent on a digital ad by the number of acquisitions (i.e., new customers) it brought in.
For example, if you spent $10,000 on an ad campaign and it generated 100 acquisitions, your CPA is $100.
The net promoter score (NPS) might be the simplest of all metrics to use, but it’s one of the most important ways to measure digital marketing success. NPS is both simple and powerful because it gives your business an average rating number out of 10 based on how likely your customers are to recommend your product or brand to someone they know. You can actually ask these questions once per week in automated emails so that as soon as there’s something wrong, you know about it right away rather than waiting until the end of next month to find out what happened last week!
Number of visitors: This should be a no-brainer, but we still see people who aren’t keeping track of how many people visit their site or engage with their content. This is simple to monitor; all you have to do is use Google Analytics! But if you don’t know how many people are visiting your site, how will you ever know if your strategies are working?
Bounce rate: This one is related to the number of visitors, but a little more nuanced. Bounce rate refers to the percentage of people who visit your site and then leave without visiting any additional pages or engaging with content. High bounce rates typically indicate an unappealing website design or poor content quality. You can use Google Analytics to measure this as well—it will tell you what the average bounce rate is on each page of your website and give you tips for improvement!
Conversion rate: This is a measure of how many people convert on your website or landing page. You can calculate conversion rate by dividing the number of conversions by the total number of visitors (or leads, or prospects). If you want to increase your conversion rate, spend some time optimizing your web content so it’s more persuasive and effective at convincing people to take action.
For example, if you had a Facebook ad that resulted in 100 clicks, and those 100 clicks resulted in 5 purchases, your conversion rate would be 5%.
Cost per lead (CPL): This represents how much money you’re spending to generate a new lead, compared to how much money that lead generates for you. To calculate CPL, divide total marketing spend by leads generated. If your CPL is going up over time, consider adding new channels and tactics that will drive more relevant traffic at a lower cost, like SEO or paid social media ads targeting specific segments of your audience based on demographics or behavior.
For example, if you spent $100 to buy an ad on a billboard and it resulted in 50 new inquiries from consumers, your cost per lead would be $2.
While cost per conversion (CPC) is a tried-and-true metric that every marketer should be tracking, it’s also one of the most commonly misunderstood. CPC should not be confused with cost per click (CPC), which refers to the amount of money paid for each click through from your ad to your website. CPC, on the other hand, refers to how much you’re spending to attract new customers or make another sale. If you’re using this metric to track the success of your campaigns, consider setting up a test account and measuring your CPC over time. This will help you determine whether or not your efforts are paying off in terms of new business and revenue growth.
For example, if a business spends $100 on Facebook ads and gets 50 conversions from those ads, their CPC is $2.
CTR: This is a measure of how many clicks an ad or piece of content gets, divided by the total number of times it was viewed. The measure is often expressed as a percentage. While it’s not the most common digital marketing metric to use in 2022, if you’re trying to understand how well your content is doing with your target audience, this is a strong indicator of whether people are picking up what you’re putting down.
For example: If your latest content piece has had 1,000 views and has gotten 50 clicks, then the piece has had a 5% CTR. That could be considered pretty good if your industry-specific average on similar pieces is 4%.
If there’s any doubt about whether customers engage with your company’s website, social media pages, advertisements, blog articles or other content through online channels—simply connect Google Analytics and other web-based tools like Moz or Hubspot into one centralized location where they work together seamlessly behind-the-scenes so that all data points at different touchpoints get reported back into this system; then track traffic coming into your website from each channel versus how many actual conversions were generated through those same channels over time!
The goal of digital marketing is to reach customers where they are, with messages that are relevant and personalized based on their behavior.
The goal of digital marketing is to reach customers where they are, with messages that are relevant and personalized based on their behavior.
Reaching customers where they are means you need to be available when your customer is looking for you. This means having a presence on the platforms where your customers spend their time – whether that’s social media channels, video streaming sites, search engines like Google or even email.
Messages that are relevant and personalized mean you need to know what your potential customers’ needs or interests are and communicate information about products or services in a way that speaks directly to them. You can do this by learning more about their browsing habits through website analytics data – including what content was most useful to them and what stage of the buyer’s journey they’re currently in. With these insights in hand, you can deliver marketing content designed specifically for them – catering to their specific needs and interests.
Based on their behavior means taking into account actions they’ve taken previously as well as how they interact with your content now – whether it’s clicking a link in an email campaign or searching for a particular product on your website. Personalizing messages based on behavioral data can help guide people deeper into the sales funnel if it feels right for the next steps of their journey.
At Mark Kilpatrick consulting we create digital marketing that drives customer engagement and sales for your business.
Contact us today if you are interested in learning more about how digital marketing can help your business excel in the modern internet age.