Digital Marketing FAQs: The Basics and More
Because digital marketing is somewhat of a niche business, people often have questions about what it is and what it does. The team at Lyv Marketing is here to help and answer any questions you may have about the types of services digital marketing companies can provide to you or your business.
What is Digital Marketing?
Digital Marketing refers to achieving marketing objectives through applying digital media, data, and technology. It is the use of digital channels to market products, boost brand awareness, drive traffic, and hit marketing goals.
For example, you see these services the most when you’re reading a company’s blog, scrolling on their social media platforms, or see an ad pop up when you’re searching on Google. In fact, most ads you see digitally, are the work of someone on a digital marketing team somewhere. Keep reading this week’s blog to find out more about what digital marketing is and what it provides to businesses.
What is the Difference Between Paid, Owned and Earned Media?
There are many different types of media involved in digital marketing. Paid media refers to any effort that involves paying a certain amount to display promotional content on different social media platforms or search engines. Paid media consists of paid search and display advertising. Paid search ads appear in a search engine query when customers are searching for your products or brand. Display ads are shown to customers who aren’t actively searching for your product, but may be interested in them anyway based on their search and general online habits.
Owned media is the content that you make yourself, completely control, and publish somewhere. These include your website, blog, social media platforms. You create this content and send the message whenever you want to, free of charge. This allows you to build your brand voice, image, and values.
Finally, earned media refers to brand exposure that is garnered through word-of-mouth and public relations efforts. Customer reviews are a fantastic example of earned media. You get earned media by providing a good product or experience to your customers. It increases your credibility and your reputation for potential customers in the future.
What are the Different Types of Digital Marketing?
There are sub-types of digital media that are just as frequently asked about as digital marketing as a practice. Some of the most common of these types are as follows…
Affiliate marketing: Also known as influencer marketing, it uses the popularity of industry experts and social media influencers or creators. By working with these people, you compensate them to feature your product or service on their social accounts, promoting it to their audience.
Content marketing: Utilized sharing information and storytelling to increase brand awareness. The goal is to have potential customers take a step toward buying by requesting more information, signing up for an email list, etc.
Email marketing: Provides content to customers via email newsletters, informing them about your business and inviting them to visit your website and other channels.
Social media marketing: Refers to everything a business does on their social channels. Marketers must deal with these channels with a strategic approach in mind.
How Much Should I Budget for Digital Marketing Services?
It is important to consider different factors when deciding what makes sense for you to spend on a digital marketing budget. The first is what your goals and objectives are. These provide you with direction and help you make sure that your organization’s marketing efforts align with your desired outcomes. Managers should allocate their budgets toward methods that can help them achieve these goals.
Secondly, metrics and analytics are very important to deciding on your budget. Understanding what has been successful and what hasn’t helps you understand what you should be spending money on and what you should reevaluate. You can do this by monitoring your KPIs (key performance indicators). This allows you to assess your digital marketing ROI.
After that, we have the target audience to consider. The customers that are buying your products exist on different platforms and enjoy different types of content or advertising efforts. It is important to use different tactics on different channels, depending on what your audience responds to most often.
Finally, there is attribution, which refers to the link between your marketing efforts and the customers that you bring on. For example, when a customer finds your product through a paid search ad, it raises their interest but doesn’t usually spark a sale on the spot. This doesn’t mean that you should question your ad-spend. Although this might not provide immediate ROI, it will generate interest among potential customers who later seek out your product on their own.
Takeaway: Contact Us Today for Digital Marketing Services
As things become more and more digital, this type of marketing may be essential for your business. Digital Marketing provides businesses with expertise in content creation, data analyzation, copywriting, blog writing, and more. These services are dynamic and definitely something that you should look into. If you have any other questions on what digital marketers provide, don’t hesitate to reach out to us here at Lyv Marketing. The team is always looking to help you out!
