My thoughts on digital marketing when thinking about marketing strategically:
Digital spend has taken the large proportion of marketing budgets. How much of the consumer touch point is digital toget. Microsoft research found that the average attention span of individuals went down from 12 seconds in 2000 to 8 seconds in 2012. Marketing strategy is allocating limited resources i.e. getting the most bang for the buck and thus use of digital has to fit in to the traditional marketing frameworks.
Most marketing campaigns today are digital focused and utilize data for effective spend. The unique component for digital is that it allows companies to focus on a one-one basis for relationships with customers. The five most valuable companies are all in digital domans. Lack of focus due to deluge of data.
Engage, Reach, Convert and Act: is one marketing model that we could use to create a digital marketing campaign. Relevance and Resonance is important that is why content marketing is the top rated digital marketing technique in 2017. Most companies create a bunch of content and see what sticks but that is not the right way to do. We should not be creating content that does not resonate with the customer. Marketing Automation i.e. programmatic advertising and big data are the other big marketing trends in 2017.
In 2016, 50% of the companies were doing digital marketing but did not have a defined strategy. This is surprising and also indicates there is a large space whre much can be done. To get a perspective of how much data is out there: 3.3 million facebook posts are posted in 60 seconds. Digital marketing is changing the way companies engage with the consumer and sustain that communication. Traditional marketing tied to new methods surpasses both methods individually.
Digital tools play a key role in the traditional marketing funnel. Paid (TV Ads, Banner Ads, etc.), Owned (website, app, newsletters, etc) and Earned (PR, viral, shares, etc) Media are different kinds of digital media. Paid search is becoming prohibitive but is an important aspect.
Online video is harder to execute but it is quickly becoming the largest driver of return of investment. However with LinkedIn, Youtube and Vimeo there is some fragmentation and the number of platforms are increasing on a monthly basis. And finally the traditional email works really well for B2B environments. Email drives conversations and gets delivered as opposed to Facebook which shows up on the page which even though might be personalized doesn’t seem to be so.