In this age of technology where evolution and innovation happens faster than we can press refresh, it is imperative for new businesses to keep abreast of the latest developments. Some developments that occur in the technological zeitgeist are so indispensable, they can not be looked away from when it comes to growing your business
Digital marketing is one such tool that has become an extremely useful and cost-effective tool for companies in the last few years.
Digital Marketing: An Overview
Unlike traditional marketing, digital marketing is, well, marketing using only digital media, be it websites or social media. As multi-varied as the name suggests, it takes multiple forms in terms of use-cases:
SEO: SEO or Search Engine Optimization are a set of practices that are specifically designed to improve the positioning of your website on organic search results. As the old adage goes, if you’re not on the first two search options on the first page of Google, are you even real at all? Content Marketing: Any business needs to offer value in order to retain and create brand loyalty with customers. In comes content marketing, which is content creation in the form of videos, blogs etc. to promote itself in the form of education, entertainment or storytelling. Social Media Marketing: As per studies, most people who own a smartphone spend more than 2.5 hours on average every day on social media platforms. By tapping into the space of social media and creating ads, posts as well as brand awareness, businesses can seek to expand their product in an extremely efficient and cost-effective way with targeted advertising. Pay Per Click Marketing: A type of marketing which involves advertisers paying a fee each time one of their ads is clicked.
Affiliate Marketing: When you promote a brand’s products or services on your website and help make them a commission, you end up getting a percentage of that commission. This helps both retailers as well as marketers expand and grow.
Email Marketing: One of the most effective ways of keeping your customers engaged in a cost-effective manner, email marketing involves sending a message (one that involves value, awareness or a direct sales call with CTA) to customers on a regular basis.
Digital marketing has quite a few benefits as compared to other forms of marketing. With greater geographic reach, one can now reach their customers across borders with the tip of a button. It saves time, is cost-efficient and delivers quantifiable results. Due to greater personalization and targeted advertising, businesses can cut through the clutter and create a greater sense of brand loyalty.
Machine Learning In Digital Marketing The next generation of AI (artificial intelligence) is being used to give an even bigger boost to an already effective arsenal of tools in the form of digital marketing. With the help of machine learning, digital marketing is increasingly being automated, with the following benefits: Personalized Workflows: With increasingly automated systems being applied in the realm of marketing, one can customize one’s workflow depending on the kind of process a business needs to apply, making the whole process adaptable and time effective. You can automate your emails to your subscriber base and come up with newly generated content for them regularly, keeping them highly invested with minimal effort.
Streamlined Processes: Makes things easier, saving time for things that require human intervention and helps you save precious time by offloading the mundane and repetitive tasks. Automation helps sort through your data so that your time can be better utilized for more important tasks such as creativity, strategy and decision making. Integrated Data And Analytics: We sit on a mountain of data that is ever-increasing. The more data we have, the smarter, more precise and more personalized the predictions become. This enables smart decision making using historical data to predict future trends. The use-cases of machine learning in digital marketing are extremely powerful: Customer Lifetime Value Prediction: Through machine learning, one can predict which customers will stay longer and more invested while also understanding which ones are short-term and impulse buys, thus helping businesses personalize their branding to each, reducing churn.
Recommendation Engine: Provide the right set of ads to the right audience at the right time. Helps you standards for SEO Optimization by providing you cutting-edge data for what’s trending on the internet in an automated way, and providing you tools to help you put your website on top of search results. Conversion Prediction: Predicts the users that will stay on the website and convert into customers, helping you adapt your strategy accordingly. Machine learning pulls from past data and independently applies it to the performance of tasks. Over time, and with ever-increasing volumes of data, the machine is able to learn from previous tasks and improve the accuracy for decision making and predictions. This also helps with pay per click and affiliate marketing since you can easily chart what products customers buy more, how much time they stay on the website and the time taken between click and conversion.
Customer Segmentation - Machine learning can process and segment customers in a much faster way because it can compute at a much faster rate than other apps or traditional marketing methods, thus giving you a competitive edge in the market, in a very cost effective way. Dynamic Pricing - Helps you scout the web and come up with competitive price ranges, as well as implement timely discounts.
Content Personalization: In the era of social media, everyone wants to be catered to, but no two people are alike. By getting access to multiple metrics of the human personality, you can adapt and personalize your content and messaging across platforms based on geography, age, interests etc., thus creating a more targeted, iterative process of marketing. You can implement this data to create personalized content strategy for different audiences, giving your content creation a boost.
In this age, where the future catches up to the past so rapidly, one can not take the risk of missing out on a tool as powerful as digital marketing. With the added aid of machine learning, your business can overcome traditional limitations and create a rapidly growing growth curve in an exponential manner.
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