DIGITAL MARKETING FOR SUCCESS
Since time immemorial, marketing experts have preached the recipe for success - your ability to put your product/service in the face of as many potential clients as possible. The more people who see your product/service, the more sales you make.
In the old world, the best way to get this done was by putting your brand where the eyeballs/ear drums were, and that was TV, Radio, Billboards etc. The problem with this method was that the brands who won this game were the big brands. Traditional marketing is very expensive and only those who had the money to spare were able to play.
Imagine a startup trying to compete for attention with big industry players. You already know who the winner would be - those with deep pockets.
This is not the case today. The new world has introduced opportunities and leveled the playing field. With the advent of the digital world more beneficial and productive ways of marketing have risen - digital marketing.
I strongly believe that on all grounds, digital marketing trumps traditional one. Every business has the same opportunities to reach their target market, but other than that, digital marketing provides every one more precise data that traditional media can ever compare with in its wildest dreams.
Let me show you what I mean.
TRADITIONAL MEDIA MARKETING VS. DIGITAL MARKETING
One of the biggest benefits of digital marketing is that it is very cost-effective. It removes the barrier to entry for small to medium sized business and entrepreneurs. With traditional marketing methods, it is very difficult for small-to-midsize businesses to compete with larger companies who have deep pockets. Big businesses have the money to allocate for TV ads, radio spots, newspaper spreads and more. This makes it really hard for small business owners and entrepreneurs to compete and grow. Most platforms such as Facebook or Google allow you the freedom to set your budget. You can set as low as $5 per day or $1000 per day, it all comes down to you, your budget and the amount of people you are trying to get to your business.
When you invest money into a marketing campaign, you want to track the results of the campaign. It’s important to know if a strategy is driving results that helps your business grow. One of the most significant benefits of a digital marketing strategy is the ability to measure your results down to the letter T. You can track various metrics with each campaign. This includes impressions, clicks, purchases, add to carts, comments, shares, conversions, and more. It makes it easy for you to know how your campaign is performing, what to tweak and what to scale. Tracking your results leads to campaign improvements. You can see what’s working for your business and what is not. You’ll get in-depth insight into your campaign to see how you can improve it.
Targeting people with traditional marketing methods is difficult. Generally, your message goes to everyone in hopes of reaching people interested in your business. It’s a challenge to measure and justify marketing costs. With digital marketing, you reach people interested in your business. You can specifically target consumers with interest in your industry, services, or products. It’s a level of depth that traditional marketing can’t match. When creating marketing campaigns on platforms such as Facebook or Instagram for example you will be able to target people based on attributes such as age, gender, occupation, interests, hobbies, behavior, income and more. Narrowing your focus helps you reach people more interested in your business. It allows you to spend your budget more effectively and obtain more valuable leads for your business.
Now that I have shown you some of the benefits of digital marketing over traditional one, let’s delve into the 3 giants of digital marketing: Google, Facebook and Instagram!
Google processes about 3.5 billion searches per day. What does this mean? It means people are searching for wants, needs and information. Google AdWords popularly known as PPC (Pay Per Click) is Google’s advertising platform which is a form of digital marketing where businesses pay a fee every time their ad is clicked on. This works by showing people your ads every time they search for certain keywords related to the words and phrases you set and want your ad to show up for.
However, a lot goes into building a winning PPC campaign: from researching and selecting the right keywords, to organizing those keywords into well-organized campaigns and ad groups, to setting up the website or landing page you want to send visitors to and ensuring they are optimized for conversions. Search engines reward advertisers who can create relevant, intelligently targeted pay-per click campaigns by charging them less for clicks to their ads. If your ads and website are useful and satisfying to users, Google charges you less per click, leading to higher profits for your business. So, if you want to start using PPC, it’s important to learn how to do it right.
During the third quarter of 2019, Facebook reported almost 1.62 billion daily active users on their platform. The amount of information Facebook holds on its users is what makes the platform such a powerhouse and a must use platform for business owners and entrepreneurs to target and showcase their products and services to people. Even though Facebook is a great platform to advertise, it runs on a disruptive marketing strategy.
What that means is that most people who come to Facebook did not come there with an intention to buy anything or be advertised to, they log on to see pictures of friends and videos of cute cats. So, when you run ads to attract people to your business, product or service – it is very important to ensure your ads are congruent with the platform and not come across as too salesy!
The act of creating an ad on Facebook is made very simple and straightforward by the platform. They guide you through steps that let you choose the type of ad, target your audience, set a timeframe and your budget. Furthermore, the ad is customizable based on what exactly you’re trying to accomplish.
Facebook refers to these as “objectives.” Whether you want engagement in terms of likes, comments and shares to your posts, or you want website clicks and visits, or likes to your page, purchases to your online store or something else entirely, you can create an ad based around that. For example, in the Facebook ad below, there are 3 ads accomplishing and targeting 3 different audiences.
The first ad from Jasper’s Market is marketing a discount per purchase and this ad is talking to people who are health conscious, probably vegetarians.
On the other hand, the second ad is from a prominent fashion house - Dolce and Gabbana. This ad is showing a new men’s bag collection and it is most likely targeted at fashion freaks and men who have shown an interest in luxury fashion.
The third ad is marketing a game, The Hobbit Kingdom and the purpose is to increase downloads of this game. The people to be targeted in this ad are those who have shown an interest in playing mobile games. They probably follow a couple of gaming groups on Facebook and have connected their mobile games to their facebook accounts in order to save their progress.
The possibilities are endless with Facebook.
With 400 million people using Instagram every day, advertising on Instagram has become an enticing avenue for brands looking to increase engagement (and profits, too). The most active age group on Instagram is between 18 - 34 years old. So, it’s a platform geared towards more young people as opposed to Facebook which has a generally older audience.
In terms of advertising, Instagram Ads uses Facebook’s advertising system - meaning that you run your ads for Instagram via Facebook, which has probably the most powerful targeting ability. You can specify your target audience’s age, location, demographics, gender, interests, behaviors, and more. The level of targeting is super insane! You can also choose to create promotions and Ads right from the Instagram app but I strongly suggest you use the Facebook Ad manager as the app interface is limited.
When creating ads for your business on Instagram, don’t make your ads look like ads. People are more likely to respond to posts that look like natural content as opposed to blatant product promotion. Incorporating actual people into your images and videos is critical; images that contain faces get 38% more likes than other types of content.
The ad below is from an industry player in the beauty industry: Estee Lauder. With this ad, they are showing their new makeup foundation shades and how they look on different skin tones. Definitely something to grab the attention of makeup fans.
Digital marketing is a territory of deep waters and it constantly evolves. Every so often, these giants tweak their algorithms and advertising rules, but what is covered in this article covers the basics and gives you an introductory understanding of the world of digital marketing.
As discussed earlier, digital marketing has made it possible for anyone, I repeat, anyone to reach their potential customer with ease and on a budget. With such a tremendous opportunity, small businesses are set on carving out a market share and increasing their revenue. Never has the world seen anything like this.
But there is a catch:
Knowledge is the most important prerequisite for success as an entrepreneur, you included. Challenge yourself by increasing your knowledge in order to make your journey easier. Increase your knowledge in what you must know to make your business grow like digital marketing.
Global Wissen Consult has created a Digital Entrepreneurship Program to provide you with the knowledge and skills you need to succeed online. You can access the program here.
Until next time, I remain yours in the digital entrepreneurship,