Digital marketing / image from Depositphotos
Global digitalization affected numerous industries, marketing included. These days, more and more people are looking for marketing tips, learning how social media works, and building an online presence for their businesses. This is great, as digital marketing generally offers more opportunities than traditional offline marketing.
This article explains the benefits of digital marketing in the modern economy and offers the five most popular marketing types. Keep on reading!
Digital marketing icons
The importance of digital marketing in today’s economy
By 2026, the digital marketing industry is predicted to reach $807 billion, meaning that businesses will continue to invest in digital marketing as it brings profit and helps them achieve desired results.
FAQ: What is marketing in today’s world?
In today’s world, marketing is a dynamic discipline focused on creating, promoting, and delivering value to meet the diverse needs of a target audience. Industry professionals leverage digital tools and analytics to understand consumer behavior, adapt strategies in real time, and foster meaningful connections through personalized and interactive experiences.
These days, digital marketing helps various businesses succeed and grow in many ways, including:
- Global audience reach. It allows companies to reach and engage multiple audiences around the world. You aren’t limited to your city or your country anymore—instead, netizens worldwide can potentially become your audience.
- Cost-effectiveness. Digital marketing is more cost-effective than traditional marketing, such as print ads, broadcasts, direct mail, telemarketing, and in-person events. Digital ads and online presence are cheaper to create, and they still allow businesses of various sizes to promote themselves successfully.
- Customization and targeting. Digital ads can be customized and market-tailored precisely. With their help, you can target specific audiences with different interests and behaviors.
- Real-time performance tracking. With digital marketing, it’s quite easy to track the performance of your campaign. You receive real-time data on customer behaviors, conversion rates, website traffic, and other metrics, and can use it to make campaigns more efficient.
- Deeper engagement and trust building. Digital marketing allows you to connect with your target audience and develop trust and brand loyalty. However, to achieve this, your business must actively communicate with customers and work with their feedback.
- Necessary online presence. Today, most brands have online platforms, and many customers prefer to purchase products online, especially if they aren’t necessities. So, if you want to reach out to a wider audience and keep up with competitors, you must also have an online presence.
FAQ: What is marketing like today?
Contemporary marketing is a fusion of data-driven strategies, digital innovation, and customer-centric approaches. It demands a commitment to authentic engagement, fostering customer relationships beyond transactions, and contributing to long-term business success in the evolving marketplace.
Different types of digital marketing nowadays
There are five most popular types of digital marketing these days that companies use to achieve their business goals. These types are the following:
Digital marketing types
#1 Search engine optimization (SEO)
SEO is a fundamental component of digital marketing, aiming to improve a website’s visibility in search engine results. To achieve this, SEO specialists optimize website content, research and utilize relevant keywords, improve site structure, and build high-quality backlinks.
Improving search engine ranking allows businesses to increase organic traffic, boost their visibility, and establish credibility with their target audience.
#2 Social media marketing (SMM)
In 2022, over 4.59 billion people were using social media worldwide. This number is projected to increase to almost six billion in 2027. Social media marketing helps you reach out to these people and promote your products or services.
To achieve this, SMM managers create engaging content, run targeted advertisements, and foster community engagement on Facebook, Instagram, LinkedIn, TikTok, and other platforms. SMM helps build brand awareness, connect with audiences personally, and drive traffic to your website.
#3 Content marketing
Content marketing is all about consistently creating and sharing content that is relevant and valuable to your target audience. These could be blog posts, articles, infographics, and other pieces.
The primary goal of content marketing is to offer valuable information to your audience. Doing so can help you establish your business as an industry authority and drive customer engagement and loyalty.
#4 Email marketing
Email marketing allows you to establish efficient email communication with your target audience, building and strengthening your relationships with them, driving conversions, and promoting your products or services. You can achieve this by sending personalized emails and creating email chains, newsletters, and other segmented messages.
Effective email marketing helps nurture leads, encourage customer retention, and support various stages of the buyer’s journey.
#5 Video marketing
Video marketing can be a part of your social media or content marketing strategy, and can also be your primary marketing type. It uses engaging visual content to convey various messages and capture the audience’s attention. This can include advertising videos, product demonstrations, tutorials, and storytelling published on YouTube, TikTok, and other social media.
Video marketing can convey complex information, increase user engagement, and help your business foster a deeper connection with the audience.
You can focus on specific vectors of marketing listed above or combine all of them cohesively. The latter can result in a robust digital marketing campaign that helps you effectively reach and engage the target audience.
FAQ: What is word-of-mouth marketing in modern times?
Today, word-of-mouth marketing is organic offline and online conversations and recommendations of a certain brand, product, or service. It is considered one of the most efficient types of marketing and can include social media, online reviews, and influencer endorsements.
FAQ: What is the concept of affiliate marketing today?
Affiliate marketing is a partnership between a business (merchant) and individuals (affiliates) who promote your products or services through unique tracking links. Affiliates earn a commission for each sale or action generated through their referral. This model is performance-based and benefits both the merchant and the affiliate.
To sum up
Digital marketing is a modern and dynamic discipline that helps businesses grow and promote online. It has many benefits, such as lower costs (compared to traditional marketing) and the ability to reach a wider audience and receive valuable data for marketing strategy adjustments. It’s recommended to incorporate various strategies to maximize effectiveness, tailoring your digital marketing mix to suit your business goals.
