Ever since civilizations came into being and ideas of commerce were conceptualized, marketing too began to take shape and evolve. Similar to the evolution of man, civilizations, and trade, the modes of marketing have undoubtedly undergone a series of transformations.
It started with advertisements in the form of mosaics which people in business used in Pompeii. Drastic changes were seen with the advent of the printing press in the 1400s. This revolutionized the approach to communication which eventually saturated the realm of business and trade. Customer-centric strategies were prioritized over the age-old practice of product-based marketing.
International trade further accelerated the implementation of user-based marketing tools, prioritizing the need to stand apart from the competitors. The evolution of the mediums for marketing from print to radio, radio to television, and ultimately the transition from television to digital has spanned over centuries. Digital marketing is the most effective marketing medium in the present day and age and is estimated to cross 314 billion rupees in revenue by the end of 2022.
With all this information, it becomes essential to understand what digital marketing is and why it is more relevant today than your traditional marketing strategies.
What is Digital Marketing?
Digital Marketing refers to introducing products and services to the intended consumers through digital mediums like search engines, emails, websites, and social media advertisements. Any marketing strategy that is implemented through different online mediums is digital marketing. Consumers and businesses exchange information through text messages, feedback, and product reviews.
Often people misconstrue that digital advertising and digital marketing are the same. Although they give us that impression, a narrow but prominent line of distinction divides the two. Digital advertising is more product or service based and generally aimed at a pool of consumers to create awareness of the said brand or business. Whereas digital marketing is more consumer-oriented and focuses on a specific pool of consumers to improve the credibility and familiarity of the brand.
Social media application management like revamping your Instagram, Facebook, Twitter, and LinkedIn; along with best practices like Search Engine Optimization (SEO), Affiliate Marketing, Visual Enhancement tools, Email based marketing tools, well-curated content, and PPC or Pay-Per-Click services provided by different advertising consultancy firms are some of the most accessible and convenient digital marketing tools that are in use in present-day strategies.
Why is Digital Marketing Important?
Digital Marketing is important for the holistic growth of a business. It focuses on different aspects of a company, like product and service quality, target audience, and modes of information exchange, either directly or indirectly.
Let us understand the reasons that propel Digital Marketing to its current state of importance and relevance in commerce and trade.
- Digital Marketing enables the identification and prioritization of the section of the consumers that are guaranteed to provide high returns. It facilitates businesses to market their product and services to those consumers who are expected to interact better with these products, thereby increasing traffic and the chances of conversions. It generates more verifiable, high-conversion leads and engages the consumers at every step.
- Digital marketing is proven more cost-effective than other traditional marketing modes. Implementation of digital marketing strategies does not require high investments. Most of the tools are either unpaid or can be purchased with a little bit of investment, definitely much cheaper in comparison to traditional modes of marketing like print, Television, and banner posts. SEO is one of the most heavily utilized tools of Digital Marketing due to the shift from offline to online modes of purchase. Emails also have a high consumer conversion rate of up to 15%.
- Digital marketing blurs the barriers existing between the business giants and the underdogs. It allows for equal opportunity to utilize and profit from the considerable consumer influx, thereby forcing the businesses to rely on the quality and consumer experience rather than biased connections and favours.
- For any strategy or tool to be successful, the first step is for it to be measurable. Digital marketing tools and techniques are measurable and capable of accurately predicting future output upon implementation. They are also highly flexible and hence can be customized according to the needs of a business, which starkly contrasts with the traditional forms of marketing.
Top 8 Benefits of Corporate Training in Digital Marketing Strategy
Businesses are directly linked to the economic growth of the country. This facilitates people choosing better lifestyles for themselves. Employees functioning under a corporate entity can only enjoy the fruits of their labour if the business flourishes. This creates a mutually dependent environment where all the levels and hierarchies at play depend on each other for growth and progress. The extent and degrees of dependence undoubtedly vary, but one cannot belittle the holistic development achievable through combined efforts. What better way to upscale the employees’ skills and convert them into assets for the organization apart from introducing them to the world of digital marketing?
Apart from attractive salary packages and medical benefits, professionals now seek opportunities that facilitate growth in their careers. Constant stimulation of the mind, challenging tasks, and activities yield work satisfaction and the ever-growing urge to learn and grow is what professionals look for. When a corporate business meets this set of demands, it creates a highly passionate and efficient workforce. This decreases the turnover ratio of employees and, as a bonus, increases the credibility of the said organization.
There are 10 primary benefits that can be availed by the corporate training of digital marketing strategies, and they are:
1. Exposure and a Better Understanding of the Concepts and Importance of Digital Marketing
Digital Marketing is a highly dynamic discipline. It consists of guidelines, principles, and strategies which are evolving every single day. Since the conception of ‘Marketing’, Innovation and individuality have been the true focus. These, when combined with consumer-centric approaches, require constant training and learning. The best possible route of instilling these in the employees of an organization is through corporate training. The first online banner, introduced in 1993, transported the users to a whole other world with just a click.
Similarly, Yahoo was introduced to the public in 1994 with its innovative web search facility, and Microsoft launched a state-of-the-art search engine under the name of MSN. Google entered the big leagues in 1998, and with the internet being made more accessible, only the giants in the business continued to stay relevant and in demand. A huge surge in the digital marketing scene was first witnessed in 2006; since then, it has seen no bounds.
With so many advancements happening within a decade, the speed with which the digital marketing field has evolved over the years has been unfathomable. Mobiles have exceeded desktop usage, and digital means have become more convenient and cost-effective than traditional means of marketing. This creates the need for consistent and frequent training in digital marketing, which is integral to the organisation’s success.
When employees are introduced to the trending strategies and are trained in the latest tools by highly skilled and trained digital marketing professionals, it is bound to create an impact. Whether it is SEO tools familiarity and training, affiliate marketing tactics and principles, or social media content creation for the best outreach, they are better equipped to implement measurable and result-driven strategies instead of traditional, outdated, and rigid tactics.
2. Unified and Clear Business Goals and Objectives
A successful corporate entity is expected to function like a well-oiled machine. Oiling in the form of group discussions, encouragement to take the initiative, engagement of the mind and body through team effort, mutual learning and growth, and ultimately united effort to achieve a common goal is the key. When the expected destination is clear and accurate, it corresponds to much more effective and efficient utilization of resources to traverse the path. When all the members of the corporate entity are equipped with high-quality knowledge and skills about increasing the brand’s awareness and railing in more profits, it facilitates quick plans and assessment. Since all are on the same page and are equipped to understand the principles and tools involved, contrasting opinions and guesswork can be eliminated from the discussion.
Corporate training helps sharpen the already available skills and assets of each employee and encourages them to be part of the team to achieve shared goals and standards. This prevents solo acknowledgement of expectations, thereby minimizing inner conflict among employees.
3. Analysis of International Trends and Methods Increases the Quality of Ideas Brought to the Table for Discussions
Establishing a unique and memorable brand identity is integral for the success of any business. With the increase in demand for quality goods and services, the ways a business sets itself apart from its competitors is the deciding factor between its success and failure. With training in digital marketing, employees have a deeper understanding of international trends and strategies.
An in-depth analysis of case studies from a global level can help identify and understand the gaps in the business and facilitate the creation and implementation of effective plans to combat them. Digital marketing skills combined with regional and contextual knowledge can create customized, effective, and measurable strategies to succeed.
For a better understanding, let us consider the marketing tactic deployed by IKEA. In 2013, IKEA launched a mobile application that functioned as a catalogue. Along with giving the consumers access to their inventory, they also provided an innovative 3D feature that would allow them to view how the product would fit in their space. With this extra feature that provides a glimpse into the look and feels of the product, the decision to buy or not has been easier.
With an analysis of IKEA’s digital marketing strategies, those in businesses of similar magnitude would be inspired to up their marketing games and hit the world of consumers with a wave of innovation and creativity.
4. Effective Communication and Improved Creative Skills Thereby Increasing the Overall Productivity
Communication is key. Whether in relationships or at workplaces. Without effective communication, there is no progress. Effective communication can be defined as the ability to express thoughts, ideas, and emotions in a way that is easily understood by all without much context. This can only be achieved if the individual who is communicating has an in-depth knowledge of the topic of discussion. In-depth knowledge accompanied by a sense of respect and acknowledgement of others is the root of all effective communication.
Corporate training allows for a healthy exchange of ideas and thoughts under professionally trained eyes in a controlled environment. Any judgment errors can be quickly corrected and evaluated to ensure no future mishaps occur. Consistent training in this dynamic digital marketing discipline allows for high-quality communication skills, ensuring no great idea is lost. Effective and smooth communication prevents misunderstanding, which facilitates high productivity with proper utilization of time and other valuable resources.
Since nearly 65% of all businesses utilize emails as a point of contact with their clients and consumers, and 39% of co-workers use emails for the daily exchange of information, it is evident that knowledge of how to communicate effectively through words is invaluable. And this invaluable knowledge is one of the multiple benefits that could be acquired through learning digital marketing.
5. Training Facilitates the Upskilling and Reskilling of Knowledge and Resources
This is rather an obvious benefit of training. Training ensures progress and development of skills compared to the level at which we started. Upskilling refers to polishing and improving a skill we own or updating the existing knowledge. Reskilling refers to learning new information and gaining exposure to new avenues and skills. Both are equally important for holistic professional development and growth in the career.
When corporates train their employees in digital marketing, they provide a path to explore new opportunities and refine existing skills. During the Pandemic, several businesses were experiencing a crisis, financially and otherwise. Some chose to utilize this opportunity and introduced training and skill enhancement programs. They chose to train their employees and challenge them professionally to prevent feelings of stagnation and helplessness. They focused on innovation, creativity, and constant change as a focus while working on skill enhancement and acquirement. Due to unprecedented layoffs and closures throughout the pandemic, possessing the in-demand skills and knowledge is a certified way to ensure stability in the job. The workings of businesses and organizations have undergone a tremendous transformation post the pandemic. Corporations are focused on completely shifting to a distributed workforce model, and training the employees in necessary skills would be the way to go.
6. Creation and Adoption of Innovative Strategies for Increasing Returns and Profits
Creation and Innovation stem from thorough knowledge and experience. Flexible, customized, and learner-centric training in a fast-paced domain like digital marketing would prove extremely beneficial. Digital marketing forces individuals to conceptualize out-of-the-box ideas to do the same mundane thing to attract more consumer traffic and engagement. For example, the marketers of a makeup brand need to think of ways to make their products seem unique from their competitors’ products. Since makeup is universally manufactured and sold, very little flexibility is available regarding the chemical composition or the variety. One sure way of standing out from hundreds of similar businesses is to make the ‘Brand’ memorable rather than the product. Those equipped with tools of Digital marketing like SEO can create an aesthetic feast for the consumers to attract more organic traffic. Nykaa, for example, relies heavily on Digital Marketing and has seen tremendous revenue growth. They rely on different forms of digital marketing like social media, emails, websites, and even affiliate marketing to maximize their reach and annihilate their competitors. Structuring corporate training holistically to ensure all levels of administration are involved in the learning process is crucial.
7. Increases the Work Satisfaction of Employees, Which is Invariably Connected to the Decrease in Employee Turnover Ratio
Sound financial plans are integral for a business to thrive. Effective ways of maximizing capital and human resources can make or break the business. Train your employees across several domains needed in business, like content creation, technical skills, knowledge of the procedures in place, and the importance of teamwork and communication. This serves two major purposes.
- Allows the business to work more cohesively and efficiently as individuals are equipped to perform more than one duty.
- Provides a sense of challenge in the work field and a sense of growth. With the workforce dominated by Gen Z and Millennials, It is important to structure business plans by considering the workforce’s needs. Besides monetary benefits, professionals now seek growth and skill enhancement in their careers, prioritizing work satisfaction above all.
And what other way to provide this than training them in up-and-coming fields of businesses? This also minimizes loss due to employee turnover, reducing the time and energy needed for repeated recruitments.
8. Competitor Analysis, Quality Training, and its Accurate Implementation
The knowledge and skills to perform a competitor analysis can provide an edge to your business. It would facilitate an in-depth analysis considering failures and successes resulting from tactics and strategies applied in all aspects of the business. From conception to product development, consumer research and review, marketing, and the demand and supply of the said products and services are equally important. Any sort of training would facilitate an organized and holistic approach which is needed for effective competitor analysis. After completing this analysis, comparisons can be made, and the best strategies can be implemented.
Quality training ensures quality output. Therefore, if a company aims to maximize its workforce, it is important to bestow the responsibility of training its employees to credible organizations. Data-driven and learner-centric organizations with credible experience would be the best choice. And finally, with successful training comes the successful implementation of the learned strategies.
In this ever-changing business world, the wheel of success and misfortune turns quite frequently. Despite constantly updating the products, manufacturing methods, and even policies, very few businesses stand the test of time and emerge victorious. It is quite possible that what differentiates the successful ones from the unsuccessful ones is the acknowledgement of current trends and a strong decision to follow them. Digital Marketing has evolved so much over the last few decades and continues to acquire more relevance with time. Hence, one way of ensuring that the odds are in your favour is to have creative and innovative marketing tactics. As discussed earlier, there are several benefits to training corporate officials in the strategies and tools of digital marketing. The first step to financial growth and brand recognition would be to understand Digital Marketing and all its facets.
One course that would help you get started is the Digital Scholar’s 4-months course in digital marketing. It is an intense, engaging and highly interactive course aiming to provide a holistic understanding of digital marketing. The 4-Month concept makes it precise and to the point and allows for maximum gains and minimum investment. It is loaded with knowledge and information provided by Industry experts with amassed years of experience in this discipline. Learning has been made simple and convenient through video uploads of the content on their own LMS. Other learning materials to enhance assessment and quality of learning are also provided. Explore this holistic and concise course for a better understanding of digital marketing and to upskill your portfolio.