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Study of Trend in Digital Marketing and Evolution of Digital Marketing Strategies

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Abstract

This era of business is about innovative and technology based products and services, here technology and systems consist of one way and reverse journey, which is visible when a bank launches a mobile app and at the same time other company is involved in inventing new apps for banks and other simplified ways of living life. The business world has witnessed the popularity of online shopping industry and has also seen the emergence of e commerce in other areas which has ultimately given rise to Digital Marketing. Digital is touching the urban India in lot many aspects and still holds tremendous potential which can multiply the opportunities for business enterprises. This paper is an attempt to examine the aspect of Digital Marketing and tries to quantify the value and space of need identification habit of a company, in order to examine the future shape of the Digital Marketing in business world we have analysed the trend with which the Digital Marketing is occupying the space in market, this study concludes two major industry specific Marketing Strategies with special reference to Digital Marketing.
International Journal of Engineering Science and Computing, May 2016 5300 http://ijesc.org/
DOI 10.4010/2016.1298
ISSN 2321 3361 © 2016 IJESC
Study of Trend in Digital Marketing and Evolution of Digital
Marketing Strategies
Yusuf Kamal
Assistant Professor
Techno Institute of Management Sciences, Lucknow, UP, India
yusufkamal@gmail.com
Abstract:
This era of business is about innovative and technology based products and services, here technology and systems consist of one
way and reverse journey, which is visible when a bank launches a mobile app and at the same time other company is involved in
inventing new apps for banks and other simplified ways of living life. The business world has witnessed the popularity of online
shopping industry and has also seen the emergence of e commerce in other areas which has ultimately given rise to Digital
Marketing. Digital is touching the urban India in lot many aspects and still holds tremendous potential which can multiply the
opportunities for business enterprises. This paper is an attempt to examine the aspect of Digital Marketing and tries to quantify the
value and space of need identification habit of a company, in order to examine the future shape of the Digital Marketing in
business world we have analysed the trend with which the Digital Marketing is occupying the space in market, this study concludes
two major industry specific Marketing Strategies with special reference to Digital Marketing.
Key Words: Digital Marketing, Theory of Digital Marketing, Marketing Trend, Electronic Marketing Techniques
Introduction:
Informational and Communication technology has occupied
the entire space with the urban India. In the era of mobile
applications and various multimedia functions, enabling the
Indian customers within the reach of sellers. Digital
marketing involves promoting product and service by means
of a range of digital channels to reach customers at the
accurate time through their favoured channel. The Digital
Marketing has become the vital course of action of business
houses and they are striving for each single innovation which
can be possibly added in the modern business so as to
maximise the revenue of business house. India as far as
digital marketing is concern has shown a bit late entry.
Digital marketing can be defined as “An attempt as a cyclic
practice done by a business which involves the analysis of
needs of customers, which is followed by a manufacturing
process as per the read needs of customers from target
market, which also gives space to the sound pricing and
study about the convenient place where product of a service
will be kept for sale, however the last phase of one cycle of
this practice is about monitoring the released satisfaction
after consumption of the sold product or a service and the
mandatory part in this cyclic practice is each part consist of
use of modern communication devices from information and
communication technology available till date”. Digital
Marketing is often referred as Online Marketing, Internet
Marketing, and Web Marketing. The above mentioned
explanation of digital marketing covers the almost every
single element of the modern practice. Few popular and
commonly used Digital Marketing channels are:
Catalogue with the search engines.
Search Engine Advertising.
Social Media Marketing.
Mobile marketing.
Google Analytics.
Online Display Advertising.
Email Marketing.
E Commerce Marketing.
Affiliate Marketing
Literature Review:
Most of the scholars have defined Marketing as an
innovative practice adopted by the business organisations in
order to execute the study of customer in reference with-
What customers want?
How this can be produced?
What will be the sound pricing of this need
satisfying bundle?
Which place will be convenient for both seller and
buyer?
How the satisfaction is released from the
merchandise sold?
Coviello, Milley and Marcolin defines e-Marketing as
“Using the internet and other interactive technologies to
create and mediate dialogue between the firm and identified
customers, different researchers have pointed out the
Digital Marketing and expansion of Online Banking Services
in different horizons, while at the same time the expansion of
both is parallel and simultaneous. For the analysis of cost
structure related with the Traditional and Electronic
expenditure, we have taken implementation techniques of
ABC (Activity Based Costing). The study concludes that the
used and implementation of Digital Marketing provides
companies an edge over the expenditure which appears as
the additional revenue for the company. It is also evident
from the study that the appropriate decrease in the
transaction cost for companies after electronic channels was
relatively higher than that of the traditional channels. Siam
(2006) found the profitability of Jordanian Banks was
affected by the Electronic Banking services, the study tried
to investigate the reasons behind provision of Electronic
Banking Services through the internet and their impact on
Banking Services as a whole.
Evolution of Digital Marketing:
IBM in 1981 launched the first Personal Computer, in 1980s
for the first time Channel Net erstwhile Soft Ad Group (An
Research Article Volume 6 Issue No. 5
International Journal of Engineering Science and Computing, May 2016 5301 http://ijesc.org/
Advertising company which tried to incorporate several
Advertising campaigns in the soft form with the help of
digitalisation of Advertising) introduced the concept of
Digital Marketing, this then has given rise to the promotional
attempts such as Reader Reply Cards found in magazines
and in return receiving the floppy disks which consist of
multimedia content, then 1990 the term Digital Marketing
was used in a different context and the phase of Digital
Marketing started changing, 1995 was the year when the
total number of internet users worldwide was 16 Million
which was changed to 558 Million in 2002 and average time
spent by Americans were spending time on internet in 1996
was 30 minutes a day and in 2014 the average time spent by
an American on internet is approximately 11 Hours a day,
however the popularity remained limited due the slow
growth of internet affordability and adaptability of Internet
with less usage of service/host offering the web hosting, the
new millennium has given the actual recognition to the term
Digital Marketing and by the end of 2005 the real
significance was pointed out by the majority of the users.
Zuckerberg started Facebook in February 2004, Google
launched Gmail in April 2004, and Twitter was launched in
March 2006. Growth of Digital Marketing in 2010 was
estimated approximately 48%. 2012 and 2013 are the years
which have so far traced as the favourable most time for the
term Digital Marketing, statistics related with the Digital
Marketing reflects that the developed economies have faced
the maximum expansion in Digital Marketing practices,
among such Economies Australia was leading and followers
were United States of America and Luxembourg. 48% of
marketers feel highly proficient in digital marketing. 68% of
marketers feel more pressured to show return on investment
on marketing spend. Only 40% of marketers think their
company's marketing is effective. (Source:
http://kapost.com/history-of-digital-marketing-technology/
Retrieved dated: April, 5th 2016).
The following picture reflects the evolution of Digital Solutions and their respective impact on Digital Marketing-
Source/Courtesy:http://www.mediaocean.com/sites/mediaocean.com/files/pictures/Digital-Marketing-History-
Graphic_FINAL.png Retrieved dated: 05 April 2016
Trend in Digital Marketing approaches/Commonly used
Domains/Portals by Digital Marketers:
Digital Marketing Trends Institutions are incorporation of a
wide range of digital channels so as to connect consumers in
an addition to customised way. Digital Marketing trends that
organizations are rapidly taking up include:
Mobility Business Insider's latest report indicates that
worldwide, one in every five individuals owns a smart cell
phone, three and one in every seventeen owns a tablet. That's
a boost of nearly 1.3 billion smart phones in last four years.
Hence an increased user support accessing the internet using
smart phones has driven many businesses to optimize their
online substance for mobile devices.
Community Media/Social Media Institutions are focusing
on involvement with customers through social medium to
offer real-time communications. Social media helps Business
Institution reach out to a huge pool of prospective customers
by supplying them with remedial and campaign-related
understanding.
Social-Local-Mobile Marketing The growing fame of
smart mobile campaign, increasing position based social
performance like knowledge sharing, re-evaluate reading via
social media and the development of Global Positioning
System (GPS) are serving companies influence Social-Local-
Mobile Marketing actions.
Customised Content Marketing Customer rendezvous,
acquisition and preservation have all taken on a new face
with the delivery of unique, adapted, and relevant messages
through acknowledged digital channels. Email is one of the
most chosen marketing channels to transmit targeted
institutional messages and campaigns to live and prospective
consumers.
International Journal of Engineering Science and Computing, May 2016 5302 http://ijesc.org/
Advanced Analytics- Enlarged adoption of digital channels
is yielding large volumes of consumer behavioural data.
Superior actionable analytics can aid organizations name
targeted marketing strategies.
Search Engine Marketing (SEM) / Search Engine
Optimization (SEO) Business Organisations are targeting
on SEO efforts and compensated search advertising for
enhancing the traceability of their merchandise and services.
Utilisation from Digital Marketing in Digital Era:
Numerous methods can be availed by the business houses
which could yield extra revenue to business, eventually new
horizons of growth and expansion can be explored by
business organisations, Political parties are utilising the
option of mobile in mass communication (which is a one
side of digitalisation) however the other systems are adding
biometrics in the identification, at the same time marketers
are adding the digital systems in monitoring and customer
satisfaction and in recording the customer feedback, there is
utility based on the need every time, few wanted and
significant uses of Digital Marketing are as follows:
Identification of need of customer with the Digital
Marketing.
Using digital mechanism in
manufacturing/production.
Digital Marketing can be used for Competitive
Advantages.
Digital Marketing can be used for Effectiveness in
Targeting and Positioning.
Brand Awareness with Digital Marketing.
Recording of Customer Loyalty with Digital
Marketing.
Logistics purposes Digital Marketing can be added
as up gradations.
Domains in Business which need incorporation of Digital
Marketing:
Outsourcing.
Influencer Marketing.
Online Behavioural Advertising.
Collaborative Environment.
Remarketing.
Segmentation
Positioning.
Targeting.
Promotion/Advertising.
Logistics and Reverse Logistics.
Methods to add effectiveness in Digital Marketing:
Appealing Mail Titles.
Establishment of Consumer Exclusivity.
Low Methodological Requirements.
Ineffective modes of Digital Marketing:
Prioritizing Clicks.
Balancing Hunt and Display.
Understanding Mobiles.
Cross-platform Dimension.
Targeting, View ability, Brand Protection and
Unacceptable Traffic.
Marketing Strategy useful for such scenario:
Customer Side Strategy:
This is an approach where companies may opt for
mechanism in their marketing practice in which
customer/consumer will remain the centre of the business
operations and not only customer will remain as centre but
also his benefit is the top priority. Means that whatever ways
companies are segmenting, targeting and positioning will
always be customer friendly. Customer involvement is the
core area of the business management, the important most
part of this strategy is that there exist no place where a
customer will feel “left alone”. This strategy will not only
put the customers when they try to find the need of the
customers but also after sales assistance and post sales
marketing will remain the key factor for the success of
business organisation.
Customer and system side Strategy:
This is the extension of the Customer side strategy, system
side means that the elements assisting the marketing process
will also be considered as the integral part of the business
operations, system here means that the intermediaries,
process, infrastructure, channels, updates, technologies etc.
And therefore customer and system side strategy means that
the involvement of customer and system will be the key area
of management for a marketer. This strategy is more result
oriented in cases when companies are involved in the utility
based marketing and products manufactured by industries
are solely sold due to feature and less because of the
packaging and appearance.
References/Bibliography:
Kotler P. (2002). Marketing Management, New
Delhi:PHI.
Aker, David A. (1996). Building Strong Brands,
New York: The Free Press.
Jalan M.L. (1988). Marketing of Rural Inputs, New
Delhi: Himalaya Publications.
Allen F., McAndrews, J., & Stratran P. (2014). E-
finance: An Introduction. Journal of Financial
Services Research, Vol: 22, Pg: 5-28.
http://kapost.com/history-of-digital-marketing-
technology/ (Retrieved Dated: 05th April, 2016).
https://en.wikipedia.org/wiki/Digital_marketing#Histo
ry (Retrieved Dated: 05th April, 2016).
http://digital-marketing-strategy.weebly.com/history-
of-digital-marketing.html (Retrieved Dated: 11th
April, 2016).
http://dsim.in/lp/digital-marketing-
course/?gclid=CJX8hvXb98sCFUmVaAodcnEOPwcc
(Retrieved Dated: 05th April, 2016).
http://epub.lib.aalto.fi/pdf/wp/w400.pdf (Retrieved
Dated: 05th April, 2016).
http://www.tcs.com/SiteCollectionDocuments/White
%20Papers/Integrated-Digital-Marketing-
Understanding-Customer.pdf (Retrieved Dated: 05th
April, 2016).
http://www.mediaocean.com/sites/mediaocean.com/fil
es/pictures/Digital-Marketing-History-
Graphic_FINAL.png (Retrieved Dated: 05th April,
2016).
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