Digital marketing has emerged as an integral element of marketing in the 21st century. Businesses which fail to embrace the discipline will be self-handicapping their ability to grow and compete in the marketplace. While traditional print and broadcast marketing still has a role to play in most industries, they simply cannot compete with the potential reach, penetration and cost-efficiency of digital marketing.
Digital marketing will change the way businesses market their products and services. Image courtesy of Pixabay
What is digital marketing?
As the name implies, digital marketing is essentially the use of digital mediums to promote products, services and brands. The marketing channels typically include personal computers, smartphones and mobile devices – practically any digital instruments which utilise the internet.
One of the first things businesses need to learn about digital advertising is, it is not constrained to fixed-width display advertisements, classified ads, two-tones colouring schema, or 30-second commercials. Online advertising is not constrained by the limitations of traditional advertising. You have the option of choosing custom-sized ads, publishing an hour-long advertorial video or incorporating trending memes on social media posts. Creativity and cost usually define the limits of how products and services can be digitally promoted.
Digital marketing is a parent topic of many sub services and channels. For example, when getting your digital marketing house in order, you will likely seek out the help of an SEO company, a PPC specialist and even a SMM expert.
Impact of digital marketing
2019 will be remembered as the year when digital marketing finally become the top dog. Global digital ad spending grew to $333 billion for the year, which accounts for slightly more than half of global ad spending. That means, businesses and marketers spend more money digitally compared to traditional analogue channels such as newspapers, magazines or TV ads. The trend doesn’t look to be slowing down. By 2023, digital ad spending is projected to grow to 60.5% of global ad spending.
Even neighbourhood brick and mortar businesses need to get in the act or risk being left behind by more tech-savvy competitors. Next: Learn the four most important types of digital marketing