The seminar on “Why Digital Marketing?” was conducted by MBA Faculties of Kongu Engineering College on October 24, 2015. Mr Karthi Easwaramoorthy cameo for the guest of honour and delivered talk on Marketing and Digital Marketing.
Every Entrepreneur comes to business with an innovative solution for a problem, But convincing the consumer that his solution is best with a simple story to make the consumer understand is marketing. The process of getting consumers interested in your company’s product or service. This happens through market research, analysis, and a solid understanding of your ideal consumer’s wants and needs. Marketing pertains to all aspects of a business, including product development, distribution methods, sales, and advertising.
It involves 4 p’s
- Product
- Price
- Place
- Promotion
Digital Marketing: When any product or service is marketed digitally, it takes the form of Digital Marketing. But, it just doesn’t stop there. Digital Marketing is an extremely broad concept, covering under itself a wide category of sales, target marketing, advertising, etc.
And, what better way to understand this than with an example
Let’s say, I have a hypothetical company that sells shoes for people of all ages. I choose to advertise about the same through a billboard ad and a newspaper ad and make a 50-50 investment in both.
Once my ads are up and running, the demand for my products increases and my sales go up. However, the traffic that I am receiving must surely be bifurcated, given the two different ads that I had set up for the products. This method of advertising comes under traditional marketing and makes it difficult for me to analyse which particular ad of mine brought in more traffic, in this case, customers, for me.
How would I get to know what percentage of people were drawn to my products through the billboard ad and through the newspaper ad, respectively?
If 90% of my customers are drawn to my product through the billboard ad, it makes more sense for me to invest 100% of my costing into billboards, than investing in newspapers ads.
Traditional marketing involves methods of advertising such as newspaper ads, billboards, radio ads, posters, etc. All of these channels wouldn’t provide me with a proper insight into the number of customers drawn from any or all of these channels.
Digital Marketing on the other hand, offers all the possible insights into the marketing and advertising of any and every product. Under Digital Marketing, you can target your ads to a specific audience, based on your requirements.