Foundations of Marketing: Digital Marketing and Social Networking

Key Definitions

  • Digital media: Electronic media that function using digital codes

    ―media available via computers, cellular phones, smartphones, and other digital devices that have been released in recent years.

  • Digital marketing: The use of all digital media, including the internet and mobile and interactive channels, to develop communication and exchanges with customers.

  • Social network: A social media platform where users can create a profile and interact with other users, post information, and engage in other forms of interaction.

  • Mobile applications: A software program that runs on mobile devices and gives users access to certain content or functionalities.

Learning Objectives

  • Summarize the five benefits of digital marketing.

  • Describe four different types of digital media used for marketing.

  • List four metrics for measuring the success of a digital strategy.

  • Explain how digital marketing affects the four variables of the marketing mix.

  • Identify three legal and ethical considerations in digital marketing.

Benefits of Digital Marketing

  • Precise market targeting.

  • Enhanced information sharing between marketers and customers.

  • Essential for maintaining competitive advantage.

  • Affordable communication channels for small businesses.

  • Digital marketing should not be treated like traditional marketing.

Types of Digital Media

  • Social Media Marketing: Interactions through social media platforms.

    • User-generated content aids in brand awareness.

  • Major platforms:

    • Facebook: Largest social network with nearly 33 billion users.

    • Instagram: Acquired by Meta, complements Facebook.

    • YouTube: Video sharing and influencer marketing.

    • TikTok: Short-form video content, significant user base.

    • Snapchat: Visual messaging application for younger demographics.

    • LinkedIn: Focused on professional networking and B22B leads.

    • Blogs: Short for “weblogs,” these are web-based journals in which writers editorialize and interact with other internet users.

    • Marketers use blog entries to drive web traffic, provide product education, and encourage loyalty.

    • Blogging platforms allow creators to build their own paid communities and subscription services.

    • Podcasts: A form of digital audio content that is available on the internet for download and streaming.

    • Podcasts that address specific topics are an attractive avenue for marketers seeking to reach a particular audience.

    • Mobile Marketing: Engaging with consumers via mobile devices.

    • About 9797 percent of American adults have a mobile device.

    • Common mobile marketing tools include mobile messaging, mobile advertisements, mobile websites, location-based advertising, and applications.

Measuring Success in Digital Marketing

  • Importance of analytics in capturing vast amounts of data.

  • Social listening for real-time insights on consumer opinions.

  • Key Performance Indicators (KPIs) should be integrated into strategies:

    • Traffic and Engagement Metrics: website visits, bounce rate.

    • Conversion Metrics: sign-ups, revenue generated.

    • Brand Awareness Metrics: social media engagement, brand mentions.

Digital Marketing Strategy

  • Increasing online shopper base necessitates effective digital media use.

  • Adapting marketing mix:

    • Product: Tailoring products to consumer needs from feedback.

    • Pricing: Flexible and driven by digital competitiveness.

    • Distribution: Expands access without reliance on retailers.

    • Promotion: Innovative approaches using analytics and AI.

Ethical and Legal Issues

  • Issues arise from data collection practices:

    • Privacy: Protect user data, transparency in tracking.

    • Fraud: Strategies to combat online fraud and protect consumers.

    • Intellectual Property: Addressing illegal copying and piracy.

  • Best practices for digital campaigns include ensuring data protection and compliance with legal requirements.

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