As the name suggests, digital marketing involves marketing efforts on the digital space. Internet users are increasing every day. People visit different types of websites and search engines for almost everyday stuff. From finding a local store to navigating near and far places, internet facilitates everything. In such a crowded digital space where millions of people across the globe are active, marketing has found a niche. Digital marketing targets internet users on different platforms to convey the designated message for sales purposes. However, despite being the ulterior motive, the road to sales goes through a number of other paths such as social media, target websites, emails, etc. How the marketers are going to target their audience depends largely on their product, their potential customer base, and digital marketing strategy. This has become a global phenomenon and every business is trying to maintain a strong digital presence.
Currently, the global digital marketing sector is growing at a Compound Annual Growth Rate (CAGR) of 12.8 percent and it is expected to maintain the growth rate till 2020. Similarly, the global digital marketing market size is approximately $290-4310 billion which is expected to reach at $330-$340 billion by 2020. North America and Western Europe which are considered highly mature markets drive the global market through their online advertising expenditures. The mobile advertisement expenditure accounts for 39-42 percent of the overall digital expenditure in Western Europe which is expected to reach approximately 55-60 percent by 2019.
The Outspread of Digital Marketing:
Digital marketing constitutes of numerous digital tactics that aim to connect to the potential and existing customers. Nonetheless, things that fall under the umbrella of digital marketing are numerous and all of those collectively shape the digital marketing landscape.
Here is a list of aspects that shaped the modern digital marketing and spread it across every business and website.
- Google is Way Smarter: Earlier search engines contributed their share of efforts in starting the digital revolution but Google started the golden era of digital revolution which in turn gave birth to digital marketing. Google developed AdWodrs in 2000 and started its content targeting services in 2003. These two things completely changed the online scenario. With the content targeting services, Google and other search engines used advanced ranking algorithms which changed the browsing experience forever. This started personalized browsing and the impact it showed on the businesses and their online presence was immense.
- SEO Came into Light: optimizing websites and their content started in the 90s and it became an essential marketing tactic by 2005. Even the early marketers were less-informed about the ethical practices and sane marketing tactics and they used to stuff keywords and spam backlinks. However, as Google and other search engines improve their algorithms, the priorities were given to the organic content and ethical practices. SEO, which was considered to be a standalone digital marketing tactic, was integrated to other domains such as social media and other practices. It gave SEO a more relevant and mature approach.
- Digital PR: Public Relations (PR) agencies were not as popular back in the day. The marketing revolution pushed the need for PR agencies whereas digital marketing revolution gave birth to digital PR agencies. Traditional PRs used media tours, press conferences, and print and TV media for promotion and image building. Modern digital PR can find out almost everything before they even start working with SEO and other strategies. Digital PRs can back the overall digital marketing efforts with data ultimately leading to better targeting and measurable results.
- Advent of Social Media: When My Space used to be a big thing, no one had thought that platforms like Twitter and Facebook would emerge as tools to connect people globally. Before social media became a giant it gave digital marketing an upstart so that marketers can engage people on specific places on the web. Businesses took notice of it and they started building online reputation both for themselves and other businesses. In the modern social media scenario where each of the social media platforms has billions of users, it is easy to target customers through advertising, personal engagement, and many other marketing tactics.
In a nutshell, digital marketing is a less aggressive and mostly passive form of advertising. It does not directly pushes people to buy or hire the products and/or services from a business. Instead, it gathers data about an individual’s preferences and interests. This is way better than blindly targeting customers and spending huge amounts of money.
With the advent of social media and personalized browsing, digital marketing became a necessity. This made it a huge global industry with an annual expenditure of billions of dollars. In any case, the industry is still finding its sweet spot where it can boast about more efficiency, better success rates in all domains, and certainly widely used ethical practices.