Marketing
is defined as the study and management of exchange relationships. It is also
defined as the
activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.
Digital Marketing (also known as data-driven marketing) is an umbrella term for the marketing of
products or services using digital technologies, mainly on the internet, but
also including mobile phones, display advertising, and any other digital
medium.
According to my
understanding of this world, the term 'Marketing' can be defined as an activity
undertaken to create a 'Mark' for the product or brand. On a similar note,
Digital marketing can be defined as an activity undertaken to reach out to
potential customers and clients to create a 'Mark' by using various digital
platforms (mainly internet but includes device, ) as a medium. Marketing in
general is an activity which is the initiating step in the Customer Journey
towards the final purchase of the product, the first touch point in the
Marketing Funnel*. This touch point can be word-of-mouth awareness, banner ads
on buses, billboards, TV advertisements, social media posts, exhibitions,
displays etc.
There are various
ways that can be used to reach out to the customer on the internet, some
commonly used techniques in digital marketing to reach out to the potential
customer are:
- Email Marketing
- Search Engine Marketing, SEM - Paid Search
- Search Engine optimization, SEO - Organic Search
- Social Media Marketing
- Affiliate Marketing
- Website Content
- Website Analytics
- Mobile Messaging
Of all the
techniques listed above, the common feature that helps them quantify is
Metrics.
Metrics defined as
'a system or standard of measurement', just as
Distance is measured
in Kilometers, Miles etc..
Time is measured in
Hours, Minutes, Seconds, etc..
In a similar way,
Metrics help measure the Digital Marketing techniques. Some commonly measured
metrics are:
Conversion
Rate - Orders/Clicks
Open
Rate - Opens/Delivered Emails
CTR
(Click Thru Rate) - Clicks/Opened
CPR
(Clicks per Recipient) - Clicks/Delivered Emails
Unsubscribe
Rate - Unsubscribers/Delivered Emails
More to come in my next post.
