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Marketers historically spent millions to position their companies above their competitors. Companies with the largest budgets had the best chance of being selected by consumers. In today’s digital marketing world, each industry player has a more balanced chance of engaging with potential customers.
Online digital marketing is relationship based, much cheaper and more accessible to consumers regardless of budget size. This generates more qualified leads for the company and significantly lowers the cost per qualified lead. Today’s consumers are looking for honesty and transparency. They desire to establish relationships with “trustworthy” companies. Too many companies make promises that remain empty and unfulfilled. Authenticity has become the differentiating factor for successful businesses.
Savvy customers are well researched and more aware of the options available to them. For them the internet has transitioned into a trusted, credible source for information. They want to form relationships with companies that are relevant (online) and in fact, are less trusting of companies that do not have a digital presence.
In response, savvy marketers are increasing their digital marketing budgets. According to Forrester Research, the average marketing budget will be 21% digital by 2014. In fact, Ford Motor Company has announced that is already has converted 25% of its marketing budget to digital efforts.
Content Marketing & Social Media
In the past, marketing tactics were disruptive in nature and provided an opportunity for the “audience to go into the kitchen and get another soda or change the channel”. Today’s marketing is about providing information as consumers are in-market and seeking it- it only enters the consumer’s mind when it is given permission to do so.
Content and Social Media Marketing provides marketers an avenue to provide meaningful information and form relationships with potential and existing consumers. Nearly everyone is aware of Facebook, Twitter and YouTube. The reason for this is the engaging nature and the relational aspect of these social media properties.
Content Marketing provides value by allowing marketers to create thousands of links to company websites, develop thought leadership, build the company’s online brand, better position the company among its target market, and build credibility on search engines like Google. Examples of distributed information content include power point presentations, blogs, articles, press releases and videos.
Social Media Marketing leverages tools to share and discuss information, share experiences, and build relationships through technology integration. Social Media Marketing includes social bookmarking, podcasting, online photo sharing, social networks, RSS feeds and blogging.
Successful Digital Marketing programs increase the number of engagements in social media properties, increase traffic and online brand mentions, improve search engine rankings and website rankings, increase the number of backlinks, and increase sales and market share for a fraction of the cost of Traditional Marketing.
Consider what your organization has to lose in making the switch from traditional, interruptive marketing to permission based, digital marketing.
Better yet, consider what your organization has to gain!
About John E. Smith
John E. Smith is a long time Marketing Strategist, his background spans more than a decade developing sound marketing strategies, analyzing competitive and industry landscapes, geo-demographic targeting and consumer segmentation. Based in Wixom, Mich., Biznet Digital is a full-service Web solutions company, focusing on business and mobile Websites, advertising agency support and Internet marketing, including search and social media marketing. For more information, visit http://www.biznetis.net.