Because of smartphones and affordable, fast internet everywhere, digital marketing is now more popular than other types of marketing. In 2024, it’s expected that 73% of all money spent on digital ads will be on ads for mobile phones.
Why is Digital Marketing Important?
Digital marketing is essential for all businesses because it helps both online and traditional stores connect with their target customers more effectively. It’s cost-effective, especially through tools like social media and email marketing. Being online boosts visibility, and businesses that use platforms like Facebook see significant growth.
Social media, like what a restaurant in Jaipur does, is a great way to show off your products or services. Even a local auto repair shop can use platforms like Facebook or Google My Business to attract nearby customers. Given the scope of digital marketing, businesses need to catch on to these digital marketing basics to identify opportunities and scale their operations.
Tracking and Analytics: The Metrics and KPIs That Matter
None of this matters unless you’re tracking your campaigns and tweaking them based on metrics that affect your bottom line. To avoid waste of time and resources, companies must know how to collect important information from their data. For that, the respective people need to know the difference between regular metrics & a Key Performance Indicator (KPI).
A metric is a number or unit of data whereas a KPI is a metric that is most closely tied to the overall business success.
While metrics help form specific strategies, only certain ones can help you refine and tailor your business strategy.
1. Website Visitors (Traffic)
Before starting a marketing campaign, set goals for how many people you want to visit your website. There are different types of visitors:
- Organic Traffic: People who find your site through search engines.
- Direct Traffic: Those who type your website URL directly.
- Referral Traffic: Visitors from other websites.
Seeing how many people visit your site helps you understand if your online presence is growing or not. For example, more visitors after guest posting means it’s working.
Impressions count how many times people see your ads or posts. It’s about making people aware of your brand. If a post on social media gets a lot of interactions, check impressions to see if it helped more people know about your brand.
3. Time on Site
This measures how long people stay on your website. If visitors leave quickly, it might be a problem. For instance, if your blog is 1,500 words but someone spends only 15 seconds, they might not be interested. Look into what makes visitors leave so soon and improve.
4. User Page and Path Behavior
This shows what pages visitors look at & what their movement is through your site. If someone is spending a lot of time on your website’s page, it means they’re kind of interested. If they leave quickly, figure out why.
Conversions are when users do what they want, like buying a product or subscribing. A high conversion rate shows that your website is doing well. For example, if your conversion rate increases from 10% to 20%, you’ve acquired twice as many people to buy.
6. Return on Ad Spend (ROAS)
ROAS measures how much money you make for every dollar spent on ads. For instance, if you make Rs500 from an Rs100 ad, your ROAS is 5:1, meaning you made Rs5 for every Rs1 spent.
7. Cost of Customer Acquisition (CAC)
This is the total cost to get a new customer. Keep track of all costs that are related to gaining customers, and then divide it by the number of new customers you have. For example, if you spent Rs1500 on ads & campaigns and got 15 new customers, your CAC then is Rs150.
8. Lifetime Value of the Customer (LTV)
LTV predicts how much money a customer will bring throughout their time with your business. It will help you decide how much you should spend to get new customers. For instance, if a customer pays Rs10 per month and stays for a year, their LTV is Rs120.
Understanding these metrics will help you realize how well your digital marketing is working & places where you need to improve.
Types of Digital Marketing You Should Know About
1. Content Marketing
Creating content like videos, blogs, and social media posts for different platforms to acquire new customers is what content marketing is. The content that is created and published should be engaging and interesting for the audience. Make sure it’s easy to find on search engines. This helps attract new customers naturally. Think about your target audience to make your content marketing effective. Building a positive image is a benefit for businesses.
2. SEO (Search Engine Optimization)
SEO makes sure your website shows up at the top when people search on Google or Bing. About 80% of shoppers check online before buying anything. Using keywords and optimizing web pages are things that makeup SEO. It’s one of the oldest and most effective ways of digital marketing used by almost every business worldwide.
3. Social Media Marketing
Social media nowadays is one of the top ways to promote and sell products. Huge Brands are in a race to maintain an engaging and interesting online presence to promote their products and their company. Platforms like Instagram, Facebook, Twitter, YouTube, LinkedIn, and Pinterest are widely used for promotions. Social media marketing strategies help in the creation of leads and the generation of sales.
4. Pay Per Click (PPC) Advertising
PPC is a way to drive traffic to your website by paying each time your ad is clicked. Google Ads is one of the most widely used types of PPC. The key difference between SEO and PPC is that SEO is free, while PPC is paid. SEO takes time to show results, but PPC is effective right away.
5. Email Marketing
Email marketing is sending emails to clients for business promotion. Newsletters are an effective way to use email marketing. People can sign up to receive updates about products and services. The number of email subscribers earned through content shows effective email marketing strategies. There are various email marketing tools available which can help you in writing effective emails and make your email marketing campaigns a success.
6. Video Marketing
uses engaging visual (video) content for the promotion of products and services. Digital platforms like Instagram and Facebook (Meta) are popular for such content. Video marketing helps in building trust within the audience which in turn leads to the acquisition of customers..
7. Affiliate Marketing
Affiliate marketing is where one business, of any kind, partners with another to help them promote their brand or products. The partner promoting the other business earns a commission for each sale or lead. This helps expand the business’s reach and makes marketing efforts seem more organic.
8. Influencer Marketing
Promotion of products or services by social media influencers is called influencer marketing. Businesses look for famous influencers with an audience who can effectively promote their products to generate sales for them. This is effective because the influencer already has a trusted audience. If done right, influencer marketing can bring in a good amount of revenue.
9. Mobile Marketing
Mobile marketing targets mobile users through websites, apps, and push notifications. It engages with the targeted audience, including those without smartphones through SMS marketing. Mobile phones are widely used, making mobile marketing an effective way to reach people.
In wrapping up our exploration of digital marketing basics, consider these key ideas as the essential tools for success online. Whether you’re creating a user-friendly website, mastering SEO, or crafting engaging content on social media, every aspect is vital. Consider joining a digital marketing course, like the one Quibus Trainings offers, which would help you understand the basics as well as in detail about the aspects of digital marketing.
As you start your journey in digital marketing, ensure you set clear goals, understand your audience, and stay updated on the latest trends. With the right strategies, your online presence will truly stand out.
Digital marketing is simply about connecting with people online, and these basics equip you to do that effectively. So, dive in, continue learning, and witness the improvement of your online presence!