Digital Marketing. Is it one of those new fancy jargon you should use to sound cool among people or is it a big deal?
You might be wondering: How to expand business with Digital Marketing?
Follow the content below to find your answer
What is Digital Marketing?
Wikipedia defines digital marketing as the component of marketing that utilizes the internet and online-based digital technologies such as desktop computers, mobile phones, and other digital media and platforms to promote products and services.
We make it much easier to understand Digital Marketing:
Digital Marketing is any form of marketing forms or services that involves electronic devices.
The term Digital Marketing started to become popular last decade only. But it has been here for a much longer time.
So, when did it all start?
Way longer, like around 50 years, in 1971, when Ray Tomlinson sent the very first email, and his technology set the platform to allow people to send and receive files through different machines.
However, there is another community of people who believe that G. Marconi was the first digital marketer when he first used radio waves to transfer information
This guy sent the first email.
But it all started to take off in 1990s. Until 1985, to most people, the tech sector seemed idiosyncratic or even provincial
The internet changed all of this. The Mosaic browser was officially released in November 1993, giving people a way to get online. Mosaic became Netscape, which released its Navigator browser in late 1994.
Yahoo! went public in April ’96 with $848 million valuation. Amazon followed suit in May ’97 at $438 million. By spring of ’98, each company’s stock had more than quadrupled.
Towards the end of 2019, an average Indian is already spending 1 hr 29 minutes on the web. A large part of the growth for time spent on internet comes from content consumption that takes place over the mobile internet—fueled by affordable data, cheaper smartphones and a growing number of smartphone users
Many social platforms have provided an opportunity for businesses to find their potential customers online. Online data suggest that Google’s ad sales rose to $32.6 billion.
Fox Business suggests 6 steps to expand your business:
- Add new products and services to your mix
2. Sell more products and services to your existing customers
3. Expand into new territories
4.Target new customer markets
5. Tap into new sales or delivery channels
6. Acquire another businesses.
“When you are thinking about expanding into new areas, the first thing you need to do is to determine how to specialize your advertising for your new market“
Of all the 6 steps mentioned above, Digital Marketing can make your efforts much easier and result-oriented except the first and last one.
Most businesses target their sales and marketing efforts to specific customer markets based on demographics like age, gender, and location, or psychographics like interests, activities, and values. But there may be other customer markets that might also be viable for your products and services.