“The Advent, Growth and Future of Digital Marketing”

Prof.M.M.Bhore (mmbhore@coe.sveri.ac.in), M.B.A. Department, SVERI’s College of Engineering, Pandharpur

PART-I

Marketing keeps evolving over and over, but with the advent of newer communication technologies, its taking leaps in to newer ways of reaching and communicating with customers and stakeholders of business and one of the forms that is becoming avant garde in its form is Digital marketing.

This blog in the series about digital marketing will show you what’s what.

Although the term seems to have gained popularity in the last decade, it isn’t new; it’s old, as old as 100 years.

Here’s a picture of the first digital marketer in history:

His name is Guglielmo Marconi, who invented the radio and in 1896 he was the first human to demonstrate a, “public transmission of wireless signals.”

Shortly after his little demonstration in England, morse signals were transmitted across open waters. While it took another 10 years for the radio to reach the general public, it sure didn’t take the creators long to realize they could use it to sell stuff.

The first live broadcast was from an opera performance at the Met and guess what people did after it? They bought show tickets!

Digital marketing strategy was born.

The term “digital marketing” has evolved over time from a specific term describing the marketing of products and services using digital channels –to an umbrella term describing the process of using digital technologies to acquire customers and build customer preferences, promote brands, retain customers and increase sales (Financial Times, lexicon.ft.com). Following the American Marketing Association’s firm centric definition digital marketing may be seen as activities, institutions, and processes facilitated by digital technologies for creating, communicating and delivering value for customers and other stake-holders. We adopt a more inclusive perspective and define digital marketing as “an adaptive, technology-enabled process by which firms collaborate with customers and partners to jointly create, communicate, deliver, and sustain value for all stakeholders”

Digital marketing, just like any other form of marketing, is all about promoting products, building brands, developing leads, and engaging your customers. The difference is digital marketing takes place online. Digital marketing is also known as Internet marketing, e-productivity, e-commerce, interactive marketing, and e-marketing. Digital marketing integrates people, processes, and technology.

What does that mean, living online or using technology? We want to do our marketing activities where our customers are more likely to see them and have an opportunity to interact with them. We want them to have access on the devices they use in their daily lives.

Here are some examples of the media we can use to get our digital marketing activities out to our customers, current or potential. The Internet can be used to market to customers through a web page or a blog. Social media is another form of digital marketing that can be implemented through sites like Facebook, Twitter, or Instagram. Marketers can also market to mobile phones, accessing customers through smartphones, dumb phones, and tablets. Electronic billboards offer another digital marketing outlet. These are found in waiting rooms at hospitals, doctor’s offices, and school hallways.

Example- Airbnb

Airbnb has changed the way we travel and look for accommodations. Launched when its founders couldn’t afford their rent, the site now boasts 150 million users, 4 million listings, and a total valuation of $31 billion in 2017.

Their digital marketing strategy relies primarily on user-generated images and videos on Facebook, Instagram, and Twitter (highlighting the cities and properties in its stable), how-to videos and posts geared towards owners, and popular city guides. Their Instagram campaign matches humor with compelling images of different travel locations around the world, making it more than just a service – it’s a travel forum as well.

When it comes to social media superstars, Airbnb shines the brightest. During a 2015 Instagram campaign, the company received 13.3 million interactions and increased followers by 341%.

References:

1. P.K. Kannana, Hongshuang “Alice” Li, Digital marketing: A framework, review and research agenda, International Journal of Research in Marketing,34  (2017) 22–45
2. Claudia F , Digital Marketing: Definition, Strategies & Example,https://study.com/academy/lesson/digital-marketing-definition-strategies-example.html
3. Neil Patel, Digital Marketing Made Simple: A Step-by-Step Guide

References:

1. P.K. Kannana, Hongshuang “Alice” Li, Digital marketing: A framework, review and research agenda, International Journal of Research in Marketing,34  (2017) 22–45
2. Claudia F , Digital Marketing: Definition, Strategies & Example,https://study.com/academy/lesson/digital-marketing-definition-strategies-example.html
3. Neil Patel, Digital Marketing Made Simple: A Step-by-Step Guide