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digital marketing

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mba /mg university/1st module

Publicada em: Marketing
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digital marketing

  1. 1. Why Learn Digital?  90% of Indian brands spend upto 15% of their marketing budgets on digital marketing  32% of Indian brands have dedicated digital marketing teams  23% of Indian brands have digital marketing budgets in excess of Rs. 1 million per annum  14% of Indian brands spend between Rs. 10- 20 million per annum for digital marketing  The top three objectives to be present on social media for Indian brands were building brand awareness, building a community and customer engagement
  2. 2. Stats ! 1. Customer Acquisition is the primary focus for majority (58%) of Indian Marketers 2. For 50% India Marketers, e-Marketing revenue contribution is above 10% 3. 85% of the Marketers are tracking revenues generated through e-Marketing activities for their business. 4. 80% of India Marketers believe that integrated campaigns (Email, Social and Mobile) can result in increase in conversion rates 5. Social Media updates was the top choice for achieving maximum customer engagement (46%) followed by email campaigns (28%)
  3. 3. More Stats ! 6. Social Media (66%) and Email marketing (53%) tops the list of marketing activities being planned 7. 45% of India Consumers respond positively to email offers (which is 3x of US Consumer). 8. For 2016 almost 50% of Indian Marketers will be increasing their investments by 31%-50% in Email 9. The acceleration in growth of subscribers is expected by 31% of marketers, a 500% increase from 2015 10. Indian Marketers show an increasing preference for Purchase History to be axis for Email Marketing Segmentation
  4. 4. Highlights from the Social Beat Digital Marketing Industry Report 2016 1. Brand Awareness & Lead Generation are the primary goals for most brands 2. Measuring ROI from digital marketing is the biggest challenge faced 3. 87% brands leverage digital & 38% of them allocate 1/3rd budget to digital marketing 4. Facebook & Google are still the most popular digital marketing channels
  5. 5. Digital Marketing  Marketing using digital technologies.  Use of digital technologies in the process of creating, communicating and delivering value to the customer.  Application of Information technology on traditional marketing  http://kapost.com/history-of-digital-marketing-technology/
  6. 6. Digital Marketing defined The application of digital technologies that form channels to market and to achieve corporate goals through meeting and exceeding customer needs better than the competition.  Internet marketing is another term originally used to refer to the achievement of corporate goals through meeting and exceeding customer needs better than the competition through the utilization of Internet and allied technologies.
  7. 7. Changing Marketing Landscape Changing Marketing Landscape Evolution of Internet and Digital Technologies Digital strategy integration New digital marketing metrics Big Data Wireless networking – the connected consumer Rising individual internet worth Web 2.0 Era of E- commerce and E-retail Influencer Marketing Refer: Digital Marketing, Vandana Ahuja
  8. 8. A few major trends … Sharing is Booming It’s the Experience Content is King, Queen and everything in between Rise of the Big Data CRM is dead Purchase funnel has been blown to bits
  9. 9. Global Trends Emerging economies Born global firms Diaspora communities Market convergence E-commerce payment and trust issues Infrastructure considerations Technological tipping points Internet cafes, Smartphones, Wi-Fi & Broadband, Social media, E-Commerce, E-Governance Digital divide and e- inclusivity
  10. 10. Traditional Marketing + Digital Technologies = Seamless strategies and Tactics Customer is the CEO E commerce Advertising online Search engine marketing Owned, paid and earned media Mobile marketing Social media marketing User generated content Online communities Content marketing Location based marketing Affiliate Marketing Inbound marketing Brand transparency Metrics and Analysis Behavioral targeting
  11. 11. Applications of IT, Internet and Web [Digital Technologies] in marketing A versatile marketing tool A measurable medium for marketing An interactive advertising medium A direct- response channel A platform for sales transactions: E-commerce A lead/ prospect generation method A distribution channel A customer service mechanism A relationship building tool A customization and personalization platform A content creation and consumption platform A cost reduction method
  12. 12. Big Data
  13. 13. Web 2.0 A collective term for certain applications of the Internet and the World Wide Web, which focus on interactive sharing and participatory collaboration rather than simple content delivery.  Blogs  You tube  Podcasts  Twitter  Facebook pages  Wikis  Online communities Web 2.0 provides opportunities for content creation and enables better campaign management, consumer engagement and interaction Reference: Digital Marketing, Vandana Ahuja
  14. 14. Internet Usage in India • Total Population of India : 1,342,549,041 (July 2017) • Indian Population Online: 450 million (June 2017, TRAI) • Urban: 60%, Rural 30% (approx. source: TRAI, IMRB) • Mobile phone as primary device for accessing internet: Urban – 77% and Rural 92% (source: IMRB) • 157,000,000 Facebook subscribers on June/2016, 11.7% penetration rate.
  15. 15. Digital Media Industry In India worth about Rs. 7000 crores
  16. 16. Differences between new media and traditional media  6 Is of the e-marketing mix by McDonald and Wilson (1999) Interactivity Intelligence Individualization Integration Industry restructuring Independence of location
  17. 17. Marketing communication concepts Source: Internet Marketing by Chaffey, Ellis- Chadwick, Johnston & Meyer, 3rd ed.
  18. 18. • Online mass customization Personalization • 24/7 convenience • Self-service ordering and tracking • One-stop shopping Increases Benefits • Low cost distribution of communication messages • Low cost distribution channel for digital products • Lowers costs for transaction processing • Lowers costs for knowledge acquisition • Creates efficiencies in supply chain • Decreases the cost of customer service Decreases Costs • Online transaction revenues such as product, information, advertising, and subscriptions sales; or commission/fee on a transaction or referral • Add value to products/services and increase prices • Increase customer base by reaching new markets • Build customer relationships and thus increase current customer spending Increases Revenues Digital Marketing Advantages
  19. 19. Benefits of Internet Marketing Tangible benefits 1. Increased sales from new sales leads giving rise to increased revenue from:  new customers, new markets  existing customers (repeat- selling)  existing customers (cross- selling) 2. Cost reductions from:  reduced time in customer service  online sales  reduced printing and distribution costs of marketing communications Intangible benefits 1. Corporate image communication 2. Enhance brand 3. More rapid, more responsive marketing communications including PR 4. Improved customer service 5. Learning for the future 6. Meeting customer expectations 7. Identify new partners, support existing partners 8. Better management of marketing information and customer information 9. Feedback from customers on products
  20. 20. Opportunities and Challenges 1. Internet adoption matures 2. Online retail matures 3. Search engines are now reputation engines 4. Image recognition takes root 5. Improved online and offline strategy integration 6. Intellectual capital rules 7. Online fund raising increases 8. Location based services 9. The long tail 10. The internet of things 11. Connected life 1. Cultural impact 2. Death of privacy 3. Decline in social values 4. Rise of the individual 5. Disconnect from real life – people living a virtual life 6. Intellectual Property and Digital Rights Management 7. Individual privacy protection 8. Economic offences 9. Online fraud 10. Data security 11. Online abuse 12. Crime against Children
  21. 21. Marketing Mix  The series of 7 key variables - Product, Price, Place, Promotion, People, Process, Physical Evidence - that are varied by marketers as part of the customer offering – Booms & Bitner (1981)
  22. 22. Why is digital strategy needed?  To set clear goals for digital channels  To align with business strategy (avoid ad-hoc approaches)  Create a specific online value proposition (OVP)  Specify communications tools to drive visitors  Integrate digital and traditional channels  Manage customer lifecycle (e.g. through email marketing)
  23. 23. Generic Digital Strategy Development Process Source: Internet Marketing by Chaffey, Ellis- Chadwick, Johnston & Meyer, 3rd ed.
  24. 24. The 5s of Digital Marketing Source: Internet Marketing by Chaffey, Ellis-Chadwick, Johnston & Meyer, 3rd ed. • Grow salesSell • Add valueServe • Get closer to customerSpeak • Save costsSave • Extend the brand onlineSizzle
  25. 25. Different forms of web presence • Amazon.in, Flipkart, Jabong Transactional e- commerce site • HDFC Bank, Bharath Gas Services-oriented/ relationship building • Nestle, Hyundai, HimalayaBrand Building site • Yahoo!, Naukri, Times of India Portals – general or domain specific • Facebook, Twitter, YouTube Social network or media site
  26. 26. The internet marketing environment
  27. 27. Factors influencing the online/digital macro and micro environment of an organization Micro-environment 1. The marketplace 2. The organization 3. Its customers 4. Its suppliers 5. Its competitors 6. Intermediaries Macro-environment 1. Social 2. Legal, ethical and taxation 3. Economic 4. Political 5. Technological
  28. 28. Micro Environment • Competitive forces • From value chain to value network • New channel structures • Location of trading • Commercial arrangements for transactions • New business and revenue models The marketplace • Adaptability to change The organization • Access levels to the internet • Propensity to use and buy • Buyer Behaviour Its customers • Access levels to the internet • Propensity to use • Integration with existing systems Its suppliers • Competitor CapabilitiesIts competitors • New capabilities • New intermediaries Intermediaries
  29. 29. Micro Environment 1. Marketplace Internet had brought about a major range of changes in the marketplace. The issues under review are: 1. Competitive forces 2. From value chain to value network 3. New channel structures 4. Location of trading 5. Commercial arrangements for transactions 6. New business and revenue models
  30. 30. 1.1 Competitive forces
  31. 31. BargainingPowerofBuyers • Increases with wider choice, more knowledge and price transparency • B2B organizations gain power when online links with buyers increase switching costs through soft lock-ins BargainingpowerofSuppliers • Decreases due to wider choice and increased commoditizati on due to e- procurement and e- marketplaces • B2B organizations lose power since switching costs may be higher due to soft lock-in Threatofsubstituteproductsandservices • Substitution is a significant threat • Introduction of new digital products & extended services is easy • Constant monitoring required to maintain market share • IT enables faster new product development Barrierstoentry • Reduced, enabling new competitors, especially for firms who have traditionally maintained a large sales force or a premium presence • Online services are easier to imitate which reduces entry barriers Rivalrybetweenexistingcompetitors • Internet allows commoditizati on making differentiation difficult • Rivalry intensifies as PLCs decrease and new product development increases • Internet facilitates the move to a global market, increasing competition further
  32. 32. 1.2 From value chain to value network The digital value chain: 1. Generate customer profile, behaviour, preferences and purchase data 2. Tailor made offers, contextual targeting and instant promos 3. Customers can create, contribute and share content Market research New product development Market products Procure materials Procure products Manage selling and fulfilment
  33. 33. 1.3 New channel structures  Channel Structures: The configuration of partners in a distribution channel  Dis-intermediation: Removal of intermediaries such as distributors or brokers that formerly linked a company to its customers
  34. 34.  Re-intermediation: Creation of new intermediaries between customers and suppliers providing services such as supplier search and product evaluation  bookmyshow  ebay  Quikr  RedBus  Yatra  Alibaba  Olx  Nykaa  Lenskart  Myntra  Indiamart  Fabfurnish
  35. 35. 1.4 Location of trading in marketplace Marketspace: A virtual marketplace such as the internet in which no direct contact occurs between buyers and sellers. Representation: The locations on the internet where an organization is located for promoting or selling its services. There are 3 types of locations: 1. Supplier-controlled sites 2. Buyer controlled sites 3. Neutral sites or Intermediaries
  36. 36. 1.5 commercial arrangement for transaction Commercial arrangements for online transactions are: 1. Negotiation – bargaining between buyers and sellers 2. Brokered deals – through online intermediaries 3. Auction – seller [buyers bid and decide final price], buyer [buyer seeks prices from multiple sellers] and reverse [buyer posts desired price] auctions 4. Fixed price sale – Static call [online catalogue with fixed price] and Dynamic call [ continuously updated prices] 5. Pure markets – Spot trade where buyers’ and sellers’ bids clear instantly e.g. stock & share trading 6. Barter – buyers and sellers exchange goods
  37. 37. 1.6 Business Models  Business Model: a summary of how a company will generate revenue, identifying its product offering, value added services, revenue sources and target customers.  Different perspectives for alternate business models: 1. Marketplace position perspective  Manufacturer/ Retailer/ Intermediary/ Media 2. Revenue model perspective  Direct sales of product or service / Commission/ Rental/ Subscription/ Advertising/ Sales of syndicated content 3. Commercial model perspective  Fixed price sales/ Brokered deals/ Auctions/ Loyalty Points
  38. 38. Types of online business models 1. E-shop 2. E-procurement 3. E-auctions 4. Virtual communities 5. Collaboration platforms 6. Third-party marketplaces 7. Value-chain integrators 8. Value-chain service providers 9. Information brokerage 10. Trust and other services
  39. 39. Micro environment 2. The organization  The organization’s adaptability to change
  40. 40. Micro environment 3. Customers Situation analysis on customers Demand Analysis Understanding the potential and actual volume of visitors to a site Conversion Modeling The extent to which visitors [potential and actual] convert to outcomes on the site [leads and sales] Access levels to the internet, Propensity to use and buy, Buyer Behaviour
  41. 41. Demand Analysis: Quantitative determination of the potential usage and business value achieved from online customers of an organisation.  Quantitative analysis of perceptions of online channels is also assessed.  Helps understand: 1. Current trends and levels in usage of internet for different services 2. Factors that affect how many people actively use these services [drivers and barriers] Major factors that govern adoption of internet: Cost of access, Value proposition, Perception of ease of use & Perception of security
  42. 42. Assessing Demand: Assess the level of customer internet access and activity for different markets and online market share  For each customer segment and each digital channel, assess the volume and share of customers who: 1. Have access to the digital channel  Varies between countries and within regions 2. Are influenced by using the digital channel but purchase using another channel  Online research is used in every stage of purchase, Consumer is more informed of available options, Price comparison is the norm, Online experience impact brand evaluations, Purchase decisions are convoluted 3. Purchase using the digital channel  Increasing number of products and services are available online, Financial transaction security, payment options and trust is an issue Simplified to the ratio “Access : Choose : Buy”
  43. 43. Conversion Marketing: Using marketing communications to maximise conversion of potential customers into actual customers. 1. Marketers build conversion or efficiency models of their web marketing. These models assess the efficiency of online and offline communications in drawing the prospect through different stages of the buying decision. 2. Total online demand in a particular market is estimated and the success of the company in achieving a share of this market is determined. 3. Conversion marketing tactics are used to create as many potential site visitors into actual visitors and then convert them into leads, customers and repeat visitors.
  44. 44. Micro environment 4. Suppliers Suppliers will have an impact on the quality of the product/ service delivered to the end consumer.  Key issues include effect of suppliers on product prices, availability and features. Major concerns are: 1. Access levels to the internet 2. Propensity to use 3. Integration with existing systems
  45. 45. Micro environment 5. Competitors Competitor Analysis: Review of internet marketing services offered by existing and new competitors ad adoption by their consumers.  Involves monitoring of competitor use of internet marketing for acquisition and retention of customers. Competitor Benchmarking: The structured comparison of digital marketing and e-commerce services within a market in order to identify: 1. Threats posed by changes to competitor offerings 2. Opportunities for enhancing a company’s own digital offering using innovative approaches adopted from non-competitors
  46. 46. Companies should review: 1. Local competitors 2. International competitors 3. New entrants both local and international Companies must watch out for new technologies, new approaches, new design techniques and customer services that would give competitive advantage. While benchmarking, companies should review competitors’ sites identifying: 1. Best practices 2. Worst practices 3. Next practices [looking beyond its sector at leaders in other industries and their digital practices]
  47. 47. Micro environment 6. Intermediaries  Destination sites: Sites typically owned by merchants, product manufacturers or retailers providing product information [brand sites]  Marketing intermediaries: Firms that can help a company promote, sell and distribute its products and services.  Online intermediary sites: Websites that facilitate exchanges between consumer and business suppliers. 1. Typically independent of merchants and brands 2. Can be owned by brands 3. May support social networking sites
  48. 48. Different types of potential online intermediaries or cyber-mediaries: 1. Directories 2. Search engines 3. Comparison sites 4. Review sites or Evaluators 5. Virtual Resellers 6. Financial intermediaries 7. Forums, fan clubs and user groups or Brand communities 8. Infomediary 9. Portal
  49. 49. Macro Environment Political Economic Social Technological Legal, ethical and taxation
  50. 50. Macro Environment – Economic and Political  Economic cycles – boom and depression  Economic growth rate and Inflation  Economic policies – Globalization, GST, China, G20  E- government – use of internet technologies to provide government services to citizens  Governmental initiatives for popularizing internet - Digital India, Akshaya Kendra, nic.in, gov.in etc.  Political will and proactive action for internet adoption  Internet governance – Control of the use and operation of the internet – Chinese Govt. controls access
  51. 51. Macro Environment - Social Factors  Social barriers to adoption of internet  No perceived benefit  Lack of interest  Lack of skills  Security problems  Cost  Social Exclusion – part of the society is excluded from the facilities available to the remainder  Digital divide  Leapfrogging of technology
  52. 52. Macro Environment – Legal, Ethical and Taxation 1  Privacy – a moral right of individuals to avoid intrusion into their personal lives  Identity theft – the misappropriation of the identity of another person without their knowledge or consent  Information security  Contact information  Profile information  Financial information  Behavioural information –across websites or within a website
  53. 53. Macro Environment – Legal, Ethical and Taxation 2  Cold list – data about individuals that are rented or sold by a third party  Permission marketing – customers agree [opt-in] to be involved in an organisation’s marketing activities, usually as a result of an incentive  Spam – unsolicited email  Cybercrime – Financial Frauds, Cyber-abuse  Intellectual property rights – copying content, media etc.  Varying tax laws, Contractual obligations/ liability & Legal Jurisdiction in online operations across countries
  54. 54. Macro Environment – Technological  Disruptive technologies – new technologies that prompt businesses to reappraise their strategic approaches  Diffusion of adoption of technologies & leapfrogging  Attitude towards technology adoption in an organisation– cautious or intermediate or risk taking  Presence of multiple access platforms for digital media  Technology convergence within devices – mobile  Growth of high speed 4G mobile, broadband and wireless internet access for home and work  Growth of search and location based services  Internet security – multi-layered authentication (ID, PIN, OTP, biometric), alternative payment systems (PayPal, Paytm)  Growth of big data, data analytics and predictive analytics
  55. 55. Online Marketing Mix
  56. 56. Mobile Marketing  Multi channel strategy for reaching the audience through mobile devices (which is the primary mode of internet access for majority of users worldwide)  Allows interactive marketing through mobile optimized web pages, apps, social media, gaming, location based services, social media, barcode & QR code scanning, NFC and GPS messaging  All the forms of online advertisements can be easily adapted to the mobile as well.  Mobile has greater reach as compared to internet therefore is more effective
  57. 57. Advantages of Mobile Marketing 1. Communication is possible using multiple methods such as SMS, MMS, contests, games, CRM tools, apps, music, video, movies, images, text, USSD codes, web pages, apps, Bluetooth, Barcodes, QR codes, NFC & GPS, blogs, vlogs, podcasting, search and location based services. 2. Imparts instant communication to the customer. 3. The communication is direct to the target customers. 4. Provides tools for interactive marketing tool 5. Higher & faster capability of capturing user profile 6. Process is quite flexible as the feedback is instant, 7. Marketing strategies can be reframed immediately. 8. Innovative process and offer real time campaign.
  58. 58. Digital Signage  Use LCD, LED and projection displays/ billboards are used for communication  Images, Video, Web pages, Streaming content are generally displayed along with information and text.  Found in public places, elevators, buildings, hotels & restaurants, buses & trains, events, airports, malls etc.  Widely used in advertising and audience engagement through interactive signs.  3D and 4K Ultra HD and Cloud based signage are the latest technologies along with audience measurement and content management software.  Creative and relevant content is the key for maximizing audience interaction and engagement Reference: https://www.digitalsignagetoday.com/