What is Digital Marketing?
As technology advances, the world gets more digitized each day. One such digitized thing is marketing. It is not wrong to say that the rise of digital marketing caused a paradigm shift with its benefits over traditional marketing. So what is digital marketing? Digital marketing means using the power of the internet and other digital communication channels to connect your brand with its potential customers.
Importance of Digital Marketing
This digital aspect of marketing allows you to reach big audiences easily, quickly, and cost-efficient compared to traditional marketing. One key benefit of digital marketing is the high exposure that comes with increased brand awareness and sales. If your brand has no online presence, you miss out on potential customers while getting outpaced by your competitors with an online presence. More information about key benefits and popular types of digital marketing are listed below.
Popular types of digital marketing
- Social media marketing (SMM)
- Search engine optimization (SEO)
- Search engine marketing (SEM)
- Content marketing
- Email marketing
- Online advertising
- Viral marketing
- Affiliate marketing
- Mobile marketing
- Pay-Per-Click (PPC) Paid Marketing
- Influencer marketing
Advantages of digital marketing
- Higher Reach
- Digital marketing has a higher reach across the world when compared to traditional marketing because of its online and digitized nature.
- Brand Development
- A brand must establish its image through marketing campaigns to gain the trust of its customers. Digital marketing fulfils this need with its various marketing tools and high reach.
- The personalized marketing aspect of digital marketing helps your brand to approach the appropriate customer base with requirements you can fulfil.
- Because of its digitized nature, digital marketing is suitable for any digital platform. As a result, this makes your brand easily accessible to customers.
- Lower Cost
- Digital marketing operations are more cost-efficient than traditional marketing operations. Even being a start-up, you can still begin a digital marketing campaign.
- Trackable results
- Digital marketing campaigns assisted with analytical tools help to track how effective the campaign went by providing valuable data like customer engagement rates alongside maximum customer reach data. By analyzing this data, you can decide on future marketing operations.
Disadvantages of digital marketing
- Skills Requirement
- You must have the knowledge and expertise about the digital platforms you wish to run your digital marketing campaign. On top of this, you need to follow the latest advancements and adapt to them.
- Optimizing your advertisements and creating promotional content for these advertisements can take up a long time.
- High competition
- Because the barrier of entry to digital marketing is low and everything happens in a globally shared space, competition among brands is very high.
- Complaints and feedback
- Maintaining a brand reputation can be a difficult task. Anyone can leave a negative review of your products or services. These negative opinions can cause some of the customer base to stray away from your brand.
- Dependability on Technology
- Digital marketing is highly dependent on technology because of its nature. You must be ready to overcome technological challenges that may occur along the way.
- Security and Privacy Issues
- When it comes to digital environments, there are lots of security issues that you must take into consideration. For example, if your website or data collection methods are not secure, customers lose their trust in your brand.
How to sell overseas with digital product marketing?
Digital marketing is a global space, meaning that if you want, you can also carry out digital marketing campaigns in foreign countries. But how? There are multiple ways that you can achieve this. For instance, building your website with payment gateways (Shopify, Wix) or working with 3rd party companies that can provide you with a platform and shipping services (Etsy, eBay, Amazon)
Popular marketplace platforms for selling abroad
What should you do to maximize your sales?
If you want to maximize your sales, there are some things that you need to pay attention to while starting the business.
- Analyze the market thoroughly.
- Do not just pick a market because it is in demand. You need to consider consumer culture, Import/export licenses, Cost of shipping, Political stability, and Taxes.
- Localize your store
- It is critical for foreign people who don’t speak your language to be able to navigate your store.
- Choose payment options carefully.
- Some payment options may not be available in the countries that you want to operate, so choose your payment options carefully.
- Create local customer service.
- Local customer services remove the timezone problem. They can also help locals more efficiently.
- Specify the details of shipping and return policies.
- Shipping processes can be tricky and complex, so specify everything customers should know to minimize possible future problems.
- Understand tax rules and regulations.
- Every country has different laws. Study the rules and regulations of the countries you want to operate in thoroughly so that you don’t face a problem in the future.