The digital epoch we witnessed at the beginning of the 21st Century has enabled consumer-centric businesses to identify and target only the most potential customers through Web and Mobile based Apps. Digital marketing strategies have never been so diversified and yet so focused on the history of corporate branding. With ever-increasing demand in the Consumer Products segment, companies are driven to adopt dynamic policies to ensure survival in the exceedingly competitive global markets. Every business owner must realize the extent to which a good marketing strategy can affect a business and do everything in their power to create the most appealing and eye-catching visual adverts to achieve their goals. Long past is the days of printing posters and distributing flyers. Any internet-based marketing campaign can make or break a business, which is exactly why it is crucial to understand its impact on business, regardless of the industry vertical. Web and mobile apps track user behavior to present them with the targeted ads which the user is most likely to purchase. You could be manufacturing the best products in the market, but your sales would definitely crash if you fail to craft and more importantly execute an effective action plan. According to a report published by Hootsuite and We Are Social, there are 3.48 billion Social Media Users across the world and it is the most sought out way to raise awareness for your brand. Marketing has the greatest importance since the very survival of the firm depends on the effectiveness of the digital strategy lifecycle and the flow of cash in business on day to day basis. Today, we shall sneak a peek into the 5 most essential “Cs” of the evolving world of Marketing.
A successful business must always place its Consumers at the forefront of their ideologies and understand their behavior. The best and fastest way to reach maximum number of potential buyers is to choose the right platforms that use Artificial Intelligence to track and understand user preferences to present the most relevant adverts as per their online activity. The growth and fall of a business is governed by its Customers irrespective of the category or the market segment it focuses on. The sole purpose of marketing is to help organizations understand, reach, and deliver value to their customers. Only consumers decide whether the annual business charts of a company will show elevation or decline in revenue and profits.
Rarely we find a business that sells its products or services to the consumers directly and must rely on a chain of intermediaries before reaching the end-user. The eventual success or growth of an organization is considerably dependent on these intermediaries called a Channel in terms of traditional marketing methodologies and must be carefully drafted to reach the end customers. Each of these stepping stones has to be carefully considered before the final pricing and delivery timing of a particular product or service can be determined. However, digital transformation has reduced the number of intermediaries and made it easy for a business to directly reach its potential customers making the process more cost-effective and less time-consuming.
Targeted branding is solely based on the objectives and vision of the company and effective communication is the key to creating and providing the required impulsion to the public awareness of a product or a service through online channels. Its importance reaches beyond the bowels of an organization all the way to the final consumer. Each public aspect of a business like its logo, mission statement, or product info page enables a company to communicate with its customers directly or indirectly and must be impactful enough to draw them away from the competitors.
Most of the Fortune 1000 companies dedicate over 60% of their annual revenue towards Marketing campaigns and strategies and the primary method of evaluating the success of its digital marketing campaign is based on the conversion ratio. An effective conversion strategy in the compact purchase funnel is essential to persuade a customer to purchase and more importantly, remain loyal to the brand. There is always room for improvement when it comes to increasing conversions, and the best companies are constantly iterating and improving their marketing material to create a better experience for their users resulting in elevated sales figures.
Blockchain technology has transformed the Digital world into an interconnected and virtual machine that essentially provides users with the true online experience. Crypto currencies like Bitcoin have truly defined the term digital strategy where companies can not only use the virtual currency to pay for its marketing campaigns but also accept payments for the products of services it sells delivering an enhanced online purchasing experience to its users.
Stay tuned with us as we dig deeper into the ever-evolving world as an established digital marketing leader in the current market.