Former marketing approaches involved many intense manual inputs which included personal contacts, verbal communication and efforts to convince product portfolio to attract customers and improve business. Digital Marketing took its place as Iris in this era of digital technology. Digital marketing services took a giant leap with their ability to reach every consumer in less than a fraction of a second. In digital marketing, customers can be convinced with minimal effort with the ability of transparency in the marketing strategy. So let’s see how digital marketing has replaced traditional forms of marketing.
Over View Of Digital Marketing
With developing technology tools it has become easy for the developers to reach the beneficiary at any given point of time with a digital database available. Digitalization of marketing has been a great support to the share market with a logarithmic increase in the profit ratio when compared to that of traditional marketing. Digital marketing had vastly pulled in investors giving them confidence about the product portfolio and their gain, with a win-win theory. Traditional marketing strategies had lots of rigidity which is overcome with advancement in digital marketing which can be done as being user needs. Former traditional marketing is product-centered with its own limitations to reach investors and customers while digital marketing is globalized beyond borders. Digital marketing outcomes are instant with quick and easy responses with market sustainability. Early in India, it was ‘IndiaMart’ started with digital marketing in the year 1996, followed by ‘Flipkart’ (2007), now that it has given the foundation for enormous companies taking lead in global investment and holding a firm grip over India’s share market.
Advantages of Digital Marketing:
Digital marketing involves less investment with the help of the internet has reached every single human finger with all its comforts.
- Digital marketing with its dynamic approach has yielded $6 billion in the year 2014, $11 billion (2011), and is expected to cross $16 billion by the year 2025.
- An increase in internet usage had made digital marketing strategy easy with effortless initiatives.
- Communication has reached deeper and with faster notes in terms of digital marketing. Profit returns have been simple, quicker, and increased tremendously with the help of the influential digital marketing platform.
- Digital marketing permits tracking and further target specific. Digital platforms increased the interaction ability which sustained digital marketing outgrowth.
- Digital marketing in turn increased business and development with numerous brands emerging in every corner with every single second.
Disadvantages of Digital Marketing:
An increase in market demands also in turn leads to an increase in competition with daily updating of the internet era. Digital marketing also completely relies on digital technology which has to keep itself upgraded every now and then without any excuse. Being a vast platform on the internet for digital marketing it is similarly time-consuming too. When it comes to the ground of security and privacy, special efforts need to be taken and put forth for the benefit of users. Plagiarism also needed to be checked and ruled out in terms of digital marketing to promote the reliability of the source.
Thus digital marketing has become a comfort as well as an iconic support for market investors and users globally without any hindrance with minimal effort and maximum efficacy.