digital marketing essay

digital marketing essay

The Transformative Power of Digital Marketing: Strategies and Impact

1. Introduction to Digital Marketing

This paper has 6 sections. We begin with the introduction to digital marketing. In section 2, we point out the connections between digital marketing and data science (especially big data management). We emphasize that data and tools buy, facilitate, and support advanced data analytics. It thus pulls corporations to become data-driven management. In section 3, we propose 12 Big Data as marketing tools mantras. In section 4, we present the data-driven business model (DDBM). Our main idea is to use big data tools to design the marketing campaigns. To summarize, every company is a digitalizing one. But how do edge firms make money from it? The DDBM can help them achieve digital transformation. Based on the 4 P’s framework, we next propose the digitalized 4P’s model to show the DDBM, its tools, and how it works. Section 5 is the conclusion of the paper.

Digital marketing is the latest business marketing trend. It is one of the newest MBA subjects. Data science is the unique technique and quantitative tool of this subject. Moreover, big data management is a thriving industry. As to this revolutionized business management, how can we study and analyze it? An easy way is to introduce some cases and examples. Here is one of them. iGoods, an electronic manufacturer, is shifting production of its best-selling product from country A to country B. To do so, it is creating a new global supply chain to include factories in Asia (for volume production) as well as those in the US and Europe. The shift in part is driven by changing economic and customer profiles. By sourcing locally, the company cuts the transportation costs and reduces the carbon footprints. It uses big data and advanced analytics to forecast demand and optimize supply. As a digital business, iGoods needs a digital marketing strategy. As its management consultant, how do you use data-driven marketing to change the supply chain?

2. Key Components and Strategies of Digital Marketing

Consumers and organizations may use different customer characteristics or behavior to form target customers that they think they should focus on. The classification of the characteristics and behavior of the target consumer becomes the key to the method of formulating the marketing strategy. Regarding the goal selection of the e-marketing strategy, two main assumptions are made in the goal selection of a marketing strategy, which are to position the organization by targeting the desired customer and that the organization wishes to perform desired customer activities in order to reach the consumer and to influence the online consumer’s behavior as much as possible. Based on these two major assumptions, researchers have developed a new classification of consumer characteristics. Businesses can use the resulting consumer classification to design more accurate digital marketing strategies. At present, the use of e-marketing to promote e-strategy goals is a major issue. These goals include reducing costs, increasing revenues, or improving customer service.

3. The Impact and Benefits of Digital Marketing

Beyond customer acquisition and increased profitability, brand loyalty and a valuable community focused not only on buying but also co-creation of products can be quickly developed alongside relevant market engagement. All working across relevant digital marketing channels and technologies, leadership and agility will put you atop. Be clear about your digital marketing strategy choices and its cost and commitment challenges. When it is time to do or create campaigns along the purchase customer journey, find all the easy-to-buy-now functionality across your website and social media. When the sale objective is achieved, be sure to make it simple to order, delivery, be entertained, and enjoy easily too. Always respond to problems quickly and use the feedback you receive to become more consumer-centric, ahead.

The multiple benefits of digital marketing include the lower costs demonstrated in numerous research studies. Often, the free initial cost of creating a presence and visibility online, as well as accelerating customer recall, reach, and engagement. Helpful for emerging markets, the role that digital channels play in reducing entry and scale effects is well-established to support these market participants. For brands, digital marketing’s immediate performance feedback and ability to uniquely create and encourage digital users to be part of the brand experience make it a vital strategic investment. Digital channels’ innate ability to help brands create communities and provide useful technology solutions that communicate and differentiate mean it is a vital strategic investment that should be carefully managed.

4. Challenges and Future Trends in Digital Marketing

Digital marketing offers new opportunities, providing mobile marketing platforms, social media marketing channels, and enhanced targeted advertising. Despite these opportunities, digital marketing is not perfect, facing challenges which include the initial costs associated with developing a website and its associated long-term maintenance costs, the costs of customer security, privacy, service, and concerns about the risks of digital marketing. Different channels, issues, and changes in the business environment pose interesting and important research questions. Opportunities and niche-specific advantages greatly exceed these challenges, and digital marketing will ultimately make business model innovation, strategic change transformation, and strategic transformation to create competitive advantage and ultimately contribute to the successful business model.

The digital marketing environment creates new opportunities for making business, but also threats that have to be thoroughly investigated before any company invests considerable resources in digital marketing tactics. The purpose of the chapter is to investigate the way in which business undertakings achieve their goals by effectively implementing digital marketing strategies. Additionally, the authors go deeper into the main peculiarities and strategies in the fields of e-business and digital marketing, identifying the advantage of using them in business undertakings, the characteristics that differentiate them from traditional commerce, and the benefits they can provide.