Abstract
Effectiveness of Digital Marketing Strategies in Small-Scale Retail Enterprises – Marketers are faced with new challenges and opportunities within this digital age. Digital marketing is the utilization of electronic media by the marketers to promote the products or services into the market. The main objective of digital marketing is attracting customers and allowing them to interact with the brand through digital media. This project focuses on the importance of digital marketing for both marketers and consumers. It examine the effect of digital marketing on the firms’ sales. Additionally the differences between traditional marketing and digital marketing in this paper are presented. This research has described various forms of digital marketing, effectiveness of it and the impact it has on firm’s sales. The examined sample consists of one hundred thirty individuals which have been randomly selected to prove the effectiveness of digital marketing. Collected data has been analysed with the help of various statistical tools and techniques.
Introduction
Digital marketing is one type of marketing that is widely used to promote products or services and to reach consumers using digital channels. Digital marketing extends beyond internet marketing including channels that do not require the use of the Internet. It includes mobile phones (both SMS and MMS), social media marketing, display advertising, search engine marketing and many other forms of digital media. digital marketing review digital marketing review.
Digital Marketing Channels are systems based on the Internet that can create, accelerate, and transmit product value from producer to consumer terminal, through digital networks. Digital marketing is facilitated by multiple Digital Marketing channels, as an advertiser one’s core objective is to find channels that result in maximum two way communication and a better overall for the brand. There are multiple digital marketing channels available namely.
Affiliate marketing
- Affiliate marketing is perceived to not be considered a safe, reliable, and easy means of marketing through online platforms. This is due to a lack of reliability in terms of affiliates that can produce the demanded number of new customers. As a result of this risk and bad affiliates, it leaves the brand prone to exploitation in terms of claiming commission that isn’t honestly acquired. Legal means may offer some protection against this, yet there are limitations in recovering any losses or investment. Despite this, affiliate marketing allows the brand to market towards smaller publishers and websites with smaller traffic. Brands that choose to use this marketing often should beware of such risks involved and look to associate with affiliates in which rules are laid down between the parties involved to assure and minimize the risk involved.
Display advertising
- As the term implies, online display advertising deals with showcasing promotional messages or ideas to the consumer on the internet. This includes a wide range of advertisements like advertising blogs, networks, interstitial ads, contextual data, ads on search engines, classified or dynamic advertisements, etc. The method can target a specific audience tuning in from different types of locals to view a particular advertisement, the variations can be found as the most productive element of this method.
Email marketing
Email marketing in comparison to other forms of digital marketing is considered cheap; it is also a way to rapidly communicate a message such as their value proposition to existing or potential customers. Yet this channel of communication may be perceived by recipients to be bothersome and irritating especially to new or potential customers, therefore the success of email marketing is reliant on the language and visual appeal applied. In terms of visual appeal, some indications using graphics/visuals that are relevant to the message which is attempting to be sent, yet less visual graphics to be applied with initial emails are more effective in-turn creating a relatively personal feel to the email. In terms of language, style is the main factor in determining how captivating the email is. Using a casual tone invokes a warmer and gentle and inviting feel to the email in comparison to a formal style. For combinations; it’s suggested that to maximize effectiveness; using no graphics/visual alongside casual language. In contrast, using no visual appeal and a formal language style is seen as the least effective method.
Search engine marketing
Search engine marketing (SEM) is a form of Internet marketing that involves the promotion of websites by increasing their visibility in search engine results pages (SERPs) primarily through paid advertising. SEM may incorporate Search engine optimization, which adjusts or rewrites website content and site architecture to achieve a higher ranking in search engine results pages to enhance pay per click (PPC) listings.
Social Media Marketing
The term ‘Digital Marketing’ has several marketing facets as it supports different channels used in and among these, comes Social Media. When we use social media channels (Facebook, Twitter, Pinterest, Instagram, Google+, etc.) to market a product or service, the strategy is called Social Media Marketing. It is a procedure wherein strategies are made and executed to draw in traffic for a website or to gain the attention of buyers over the web using different social media platforms.
Benefits of social media marketing
- Allows companies to promote themselves to large, diverse audiences that could not be reached through traditional marketing such as phone and email-based advertising.
- Marketing on most social media platforms comes at little to no cost- making it accessible to virtually any size business.
- Accommodates personalized and direct marketing that targets specific demographics and markets.
- Companies can engage with customers directly, allowing them to obtain feedback and resolve issues almost immediately. The ideal environment for a company to conduct market research.
- Can be used as a means of obtaining information about competitors and boost competitive advantage.
- Social platforms can be used to promote brand events, deals, and news.
- Platforms can also be used to offer incentives in the form of loyalty points and discounts.
Components of a Project Report
A project report varies according to the MBA final year project course at top colleges, depending on the consequences and the requirements of the concerned project. But broadly, a project covers the following components:
- Title page
- Table of contents
- Introduction
- Background of the project
- Project objectives
- Methodology
- Results
- Discussion and Analysis
- Conclusion
- Bibliography or references
- Appendices
Project Report Pages : 80
Can be used in : Marketing Final Year Project
Delivery Time : Within 2 hours.
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