The Internet has undoubtedly changed the world. Never has it been so easy to access information, communicate with people all over the globe, and share articles, videos, photos, and all manner of media.
Apart from Marketing, the digital world has revolutionized our business. It has eliminated geographical barriers, opened new operational process opportunities for buying behaviours, impacted financial management, cut out the middleman, expanded our abilities to conduct R&D (new tech and big data), changed how we manage customer relations and hire employees, and streamlined our support.
The Impact of the Internet on Business and Commerce
The Internet has led to an increasingly connected communications environment, and the growth of Internet usage has resulted in declining distribution of traditional media such as television, radio, newspapers and magazines. Marketing in this interconnected environment and using that connectivity to market is digital marketing.
Marketing is the set of activities and institutions for creating, communicating, delivering, and exchanging offerings that have value to customers, clients, partners, and society at large.
The Marketing Concept – Offer a product/service in a manner that consumers perceive as being better than their competitors.
Discussion time: what is the role of marketing in creating customer value, building relationships, and driving business growth?
Product: Determines the level of quality, brand, package, size, and format.
Price: Implementing a ‘fair’ price for consumers while producing the desired profit for the organization.
Place: Also called distribution, these are actions to make a product available to customers in an efficient (and cost-effective) manner.
Promotion: Communications of the product and service, devising a message and delivering it efficiently using a variety of media channels.
The 10Ps are product, price, place, promotion, physical evidence, process, packaging, positioning, people, and personalization.
Digital marketing embraces a wide range of tactics for strategic execution, but a user-centric and cohesive approach to these tactics underpins its success.
Product: Digital opens the door to a new avenue of consumption (eBooks).
Price: Pricing structures, strategies, and policies can be specially tailored to the digital world (Automated pricing).
Place: Consumption of tangible and intangible products or services can now be acquired via online mediums (Amazon, Skip, Google Play, Spotify)
Promotion: takes up the bulk of the digital space. New types of digital media allow ads to be placed in the right places (where people spend their time) at the right times. Digital media can be combined with traditional media.
Discussion time: Is traditional Media dead? If not, what is the recommended amount spent on it?
But that doesn’t make it magical…
Digital Media is great! But it must be looked at as tactics, not a strategy
Customer Data Platform: CDP
The digital marketing strategy is derived directly from the overarching marketing strategy.
It dictates the most advantageous direction for an organization over a defined period and indicates which tactics and digital means should be used to execute this direction.
Other areas that blend into these main categories:
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Online advertising, also known as online marketing, internet advertising, digital advertising or web advertising, is a form of marketing and advertising that uses the Internet to promote products and services to audiences and platform users.
Advertising’s main objective is usually to increase sales. It also aims to increase brand awareness and share of voice in the marketplace.
Online advertising is a term often used to describe almost everything covered in digital marketing, but it mainly falls under promotional strategies. What we are focusing on for this course will be:
Email marketing is a permission-based marketing effort that sends commercial messages using email.
It involves using email to send advertisements, request business, or solicit sales or donations. It also leverages AI and Automation for seamless customer experiences.
Discussion time: should we still use Email Marketing?
At its core, email marketing is a tool for customer relationship management (CRM). Used effectively, this extension of permission-based marketing can deliver one of the highest return on investments (ROI) of any digital marketing activity.
It is one of the oldest yet most powerful of all digital marketing tactics. The power comes from the fact that it is:
NOTE: Students should budget approximately $50 for course materials. The instructor will provide more information.
This course will provide a practical and strategic foundation in the various forms of online advertising and pay-per-click platforms.
It also delivers instruction on email marketing fundamentals and best practices related to the Canadian Anti-Spam Law.
This will include developing a customer database, understanding behavioural targeting, profiling, and keeping customers engaged throughout the marketing cycle.
What is Strategy?
Strategy is making an integrated set of choices that positions the organization to win.
It is the Blueprint Or North Star.
Strategy Informs Tactics
Digital marketing builds on and adapts the principles of traditional marketing strategy, using the opportunities and challenges offered by technology and the digital medium.
Digital marketing strategy is built directly into the Marketing strategy.
Targets to Live by
Otherwise, you’ll have no idea if you succeeded!
Make Sure They’re Aligned with Business Goals.
Goals are hierarchical, like strategies. They will roll up to the corporate-level goals and objectives
Discussion Time: What is an important career goal you have established?
Could this goal be improved by applying the SMART goal concept?
A fair return or equivalent in goods, services, or money for something exchanged. received good value for the price.
Marketing Concept – the whole firm is directed toward serving customers at a profit through an offering that is better, or perceived as better by their target.
Utility
Delivering Value
Value = Benefits/Costs
Utility: adding value
Discussion Time: Can you think of some examples?
Use insights from data analysis to inform website optimization strategies and marketing initiatives. Test and iterate on website elements, content, messaging, and marketing campaigns to improve performance and achieve business objectives.
What is Online Advertising
Next Steps:
Deactivate or delete the campaign you have created to get access to Google Ads
