Impact of Digital Marketing on Sales Essay

Embracing emerging trends and technologies helps marketers create a sustainable competitive advantage for their business. Emerging marketing trends and technology, such as big data, social media mobile, context-aware computing and the Internet of Things, create unprecedented opportunities to engage customers, fuel growth and take market share. As a digital marketer, you can be overwhelmed by how quickly new technologies become mainstream. A Facebook yesterday is a Pinterest today and a socially enabled, real-time, mobile personal assistant tomorrow. The objective of this paper is to look at the impact digital marketing has on sales especially in emerging markets. The major aspects of digital marketing that would be covered are as mentioned below: Digital Marketing Essentials Multichannel Marketing Data-Driven Marketing Mobile Marketing Monetized Digital Marketing through Commerce Social Marketing Evaluating the impact of digital strategy: Evaluation of the ‘true impact’ of the digital marketing strategy & spend, is a multi-phase journey. It could be broken down into five distinct phases: Datawarehousing & Reporting Dashboarding Statistical Analysis Predictive Analysis Optimization The research paper analyzes the current situation with respect to developing countries in the digital environment. It would also study the â€Å"digital divide† and the differential pattern of developing and least developed countries in take-up of the new technologies, the changing nature and demographics of Internet use as well as the role of innovation and creativity in making digital marketing a success. The Evolution of Digital Marketing in Developing markets The Digital Divide Access & Participation in the Digital Economy Opportunities & Challenges The paper studies and analyzes the influence on the 4Ps of Marketing by the onset of the Digital Revolution and the dominance of accessible information through the Internet. It has changed the way consumers spend their money and the way they shop for products and seek services. Like the Industrial Revolution, today’s Digital Revolution has changed the ways in which people live their daily lives and the manners in which companies practice business. In marketing, strategy has greatly shifted away from material and into more liquid avenues and flexible ways of reaching consumers. Because people have altered their spending habits, so too have marketers changed the ways of reaching their customers and creating products focused on the new needs of the consumer today. Advertisement and sales have shifted away from tangible methods of reaching people such as print ads and newspaper and into digitized networks that offer to target a larger audience at a fraction of the cost. The impact of the Digital Revolution on marketing cannot be ignored as indeed, it has completely changed the industry in a way never previously conceived. INTRODUCTION: â€Å"The Internet is becoming the town square for the global village of tomorrow† -Bill Gates Emerging markets are countries experiencing relatively recent industrial, political and technological change resulting in rapid economic growth. Emerging markets cover more than the BRICs (Brazil, Russia, India, China, South Africa), however; these countries are amongst the buoyant emerging giants. Large populations generally characterise these markets, as is obvious with China and India. They tend to be dominated by young populations and rising middle classes. As business revenues plateau in saturated, developed markets, expansion into emerging markets is a popular means for reaching new growth targets. Although these countries are affected by the global recession, many remain in robust growth positions. The endeavour of international business involves uncertainty and risk, however; this can be mitigated by the internet. How the Global Digital Era and Emerging Market Growth is Transforming the Marketing Agenda? Senior executives in developing economies, working in organizations, small and large, are asking the following questions: How can we get ahead of competitors in emerging markets? How can our business mitigate risks when we enter risky, high-growth emerging markets? How can we measure marketing activities and sales-related results in these markets? The increasing mobility of the consumer is a good development for any business. Marketing to a constantly on-the-go consumer is like trying to hit a moving target. Direct digital marketing is an addressable marketing method where relevant marketing communications are delivered to individuals through the e-mail, Web, and mobile channels using an e-mail address, a Web browser cookie, and a mobile phone number. The principles of direct digital marketing—addressability, message relevance, and personalization—are ideal for restaurant marketers and their customers. Leveraging the full value of direct digital marketing requires going beyond the tried and true e-mail marketing strategies that have been used for the last 10 years and building a strong relationship with a consumer at each touch-point they value.