Many industries have undergone a dramatic change due to the proliferation of the internet. One of the industries most impacted by the World Wide Web is marketing. Online marketing has changed the way we do business, and the way we market our products and services. While many businesses still use conventional forms of marketing, these serve to complement online marketing campaigns. So whether it’s print ads, billboards, newsletters, newspaper ads, television commercials or even radio, each of these traditional forms of advertising are rapidly being edged out by online marketing tools and digital media.
Now, modern marketers use creative internet marketing campaigns and the social media platform to reach out to customers and build their presence and brand online. Companies with online presence can also advertise on websites by using digital marketing tools. As the corporate world has become driven by digital technologies, marketing is no exception to this rule. Companies now have to study the ways to utilise the digital universe and maximise brand impact and awareness. Here are the different ways digital marketing has changed modern advertising.
#1 Instantaneous Communication
Interacting with potential clients can be a very tough process. Marketing messages need to be consistent, regardless of the communication channel. Social media allows companies to promote products, services and put across brand messages in a transparent way. But digital media such as instant messaging is catching on fast. One-on-one messaging and instant digital communication are changing the way products and services are advertised. Studies even show that social media platforms like Facebook’s messenger has over 900 million global users.
To tap into this growing market, digital channels of communication such as instant messaging have become invaluable. Now marketing messages travel at blazing fast speeds, changing not only how brands communicate but also how they interact with clients.
#2 Increasing Competition
Consider the enormous amount of content distributed via messaging and social media apps. So much so, that digital content is causing the marketplace to become overcrowded and competitive. Getting heard above the noise is a major concern. For instance, every 1 minute, a staggering 3.3 million people make a Facebook post and 29 million messages find their way through Whatsapp. Marketeers now have their work cut out, if they want to be able to stay on top of the mind and capture market share (and mindshare!).
#3 The Advent of Data-Driven Marketing
Modern technologies also permit marketeers to gain a lot of knowledge about their customers. Companies also should know when, how and where to use this data, with growing metrics and sophisticated analytics in place. Digital marketing has changed advertising for the better, as marketeers now know which metrics are critical for company success. The key to getting impact from data is knowing what your organisation can get from it. Further, these metrics also alert advertisers to which channels are going to pay off. With the advent of online analytics and digital metrics, there are an array of channels and technologies the brand can focus on that enables customers to engage in a meaningful manner. New ways of measuring engagement such as likes, comments and shares came about.
As marketeers acquired technical skills to understand the sophisticated data, insights about the customer on an unprecedented scale have made it possible for advertisers to know exactly what the customer wants. Creating content that is personalised and customer focused also makes it easier for brands to make a massive impact. More knowledge about target audiences and how to create content that gets their attention and fosters engagement has become possible, thanks to internet marketing tools and metrics, besides social media analytics.
#4 Greater Brand Authenticity and Transparency
In the present digital world, clients want to know more about brands they interact with and make purchases from. To build brand loyalty, transparency is a must and the advertisers now have to focus on brand authenticity with the growth of digital marketing. A study by Label Insight found that 67% of the customers want detailed information for the product from the company. For businesses in the online marketing age that communicate openly and transparently, the rewards are greater loyalty, with over 93% of customers surveyed claimed to stick with a company that promoted accountability. A further 73% said they would also be willing to pay more for such brands.
Businesses can now learn a lot about potential customers based on data gathered online. Smart companies use online data to create personal online marketing messages. Social media marketing has really caught on amongst the Millennials. Personalisation has become a powerful tool, with studies showing users are more likely to purchase products if messages are personalised and supported by social media.
#5 The Growth of Influencer Marketing
Another new way advertising has been impacted by the growth of digital marketing is the rise of the influencer. Social media and video channels such as YouTube have made the average Joe or Jane incredibly influential. As a result, companies no longer require celebs to endorse products or services. Social media influencers with droves of followers have the ability to influence others by endorsing a specific product. In fact, micro-influencers or those with below 100,000 followers have greater influence and higher engagement rates than even well-known celebs. Brands are even hiring influencers to engage and influence customers. Coca-Cola, for example, has influencers as hosts on Coke TV, its YouTube channel.
#6 Changing Pace of Advertising Trends
Digital technology has transformed modern day advertising. In fact, internet marketing progresses at a pace that is super fast. These changes require advertisers to be agile, as online marketing is now about working collaboratively and keeping up to date with development, so skills to adapt and use changes as per the company’s advantage are in place. Upskilling has become an essential fact of life in the advertising space. Advertisers now need to be know the latest, most relevant techniques, technologies and strategies and understand how brands can use changes as per the advantages. For example, IBM now has a digital sales team which transforms the selling capacities of its staff, drives revenue and improves mindshare and status across online networks. Online marketing has advanced so rapidly, that businesses need to ensure their workforce is learning and growing to acquire cutting-edge digital marketing skills and knowledge of selling tactics.