This article discusses the advantages and risks of social media in digital marketing, digital marketing strategies for small businesses, and the importance of media selection and marketing mix. It also provides blog links and references for further reading.
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Contents Current Issues in Digital Marketing...........................................................................................3 Social media- an advantage or a risk......................................................................................3 Small business enterprises and digital marketing advantages and risks................................4 Choice of digital marketing strategies for small business......................................................5 Blog Links..................................................................................................................................6 References..................................................................................................................................7 2
Current Issues in Digital Marketing Social media- an advantage or a risk Information and telecommunication technology have revolutionised the world in such a way that customers now have access to information at all times(Dodson, 2016).Computers, tablets and other mobile devices have made sure that people stay connected with whatever that interests them. Social media has become extremely potent and is used by people to create and change opinions(Newson, 2017).Therefore, a company needs to realise that social media can be used for creation or distortion of its image in the business world. Social media is a web enabled platform which allows users to create and share information files like videos, photos and text files(Newson, 2017). Socialmedia content sharing has become an extremely powerful medium of exchange of view, ideas and information. Social media sites like Facebook, Twitter and Instagram are very potent platforms for sharing information and influencing opinions(Hajli, 2014). With its low cost and massiveaudience, it is easy for businesses to get carried away while implementing social media marketing. However, it is important to weigh the risks and advantages of social media before using it as a marketing channel. When a marketer uses other forms of marketing like advertisements or sales promotions he has complete control over the matter which reaches the customer .On the other hand, in case of social media, once a message is generated , marketer looses control(Dodson, 2016)People can post negativeopinions, reviews and judgements about the product and cause lot of negative publicity which a marketer does not want. Conversely, if a company can manage the negativity aspect and has a very good product which can speak for itself then the audience provided by social media can help in generating positive publicity at no extra cost(Dodson, 2016).Social media reach is bigger than any other mass media channel. Social media sites like Twitter and Facebook have more than 1 Billion daily active users(Dodson, 2016).If a company is properly able to target these users and creat positive feelings in their mind about their business, then it can generate huge gains. Additionally, social media is extremely low cost(Hajli, 2014).Content can be posted at no cost and advertisements can be generated at minimal costs. Moreover, social media platform helps marketers to generate positive reviews and brand loyalty. 3
Therefore, a marketer must understand that while social media can give him huge access to target audience, it can also lead to negativity and embarrassment(Dodson, 2016).Marketers must approach this marketing tool after assessing its consequences. If the positive feedbacks are more than negative feedbacks it should be fine. However, while using social media the marketers must consider product quality and customer supports.(Dodson, 2016)These areas can lead to better social mediaresponse for the company. Small business enterprises and digital marketing advantages and risks. Digital marketing is the marketing of products and services over the internet and through the use of digital devices like mobile phones and tablets(Ryan, 2016).Small business is low on budget. Therefore, cost advantage of digital marketing makes it a very lucrative marketing source for small business enterprises. Small business enterprises have limited resources as well as marketing experience(Dunant, 2017).Therefore,theyneedtofindalow-costmarketingchannel.Digitalmarketing platforms like online advertising, social media and web-based marketing provide an effective way to generate audience and market base for the small enterprises. Unlike a large business empire, a small business unit does not have huge brand name. It needs customer base and customer loyalty to survive(`Chaffey & Smith, 2017). It also needs accurate information on customer needs andwants. The digital marketing platform allows these firms to interact with potential customers and understand their aspirations and needs (Dodson, 2016). Theseneeds can then be assessed and satisfied by the company. Internet marketing is good platform to generate reviews with a view towards improvement(Dunant, 2017). Through digital marketing a small business firm can reach a global market place and if its produces are of high quality and match customer needs, it can become a huge success (`Chaffey & Smith, 2017).A small business enterprise can easily track customer responses through digital marketing Small business enterprises do not have huge reputation and a brand name behind them. Therefore, negative publicity and negative reviews can immensely harm the small enterprise (Ryan, 2016). Digital marketing media are extremely dynamic. Any negative propaganda can be carried far and wide through digital platforms like Facebook or twitter(Dunant, 2017) .Negative reviews can spread like wild fire and kill the growth of a small firm. However, risks need to be taken if a small firm wants to survive. Digital marketing has immense reach and is cost effective. The negative propaganda can be countered through the 4
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use of positive content generation, quality focus and customer relationship management (Dunant, 2017). Ifa small business firm can create an online presence through positive content marketing on digital platforms and social media, it can create a favourable impression on the customers(Dunant, 2017).Therefore, a small business enterprise must find ways to generate positivity in the digital world. If it is able to balance the negative feedback and reviews with positive content generation it can grow much faster as compared to use of traditional medium. Choice of digital marketing strategies for small business. Adventofnewdigitaltechnologiesinbusinesshaveincreasedthepaceofbusiness functioning(Dodson, 2016). Interactive nature of digital marketing has made business organisations more focused and customer oriented(Chaaffey & Smoth, 2013).Most of the businesses have incorporated a digital marketing plan due to the mass reach of digital marketing platforms(Ryan, 2016). Online market place has become a lucrative business (Zhu, 2016). More and morepeople want to check products online and even purchase them. Therefore, no business can now survive without having a digital presence(Chaaffey & Smoth, 2013).Digital marketing today has become a huge arena with various methods. A small business faces the challenge of use of adequate digital marketing strategy to generate maximum customer interest. Small businesses have a huge choice to choose their online marketing media and strategy (Dunant, 2017). However, small businesses are on a restrictive badger. Therefore, as their first strategy they can use search engine optimisation to attract customers to their website. Under search engine optimisation important keywords are used by firms on their website so that they get higher ranking on search engines if a user types those keywords(Kingsnorth, 2016). This canincrease traffic to the website which can result in an interested customer base or even a purchase. Small business can also use social media platforms to talk about their products(Hajli, 2014). They can also use social media for generating customer reviews and interactions. Another method is content marketing on the website where in the firms can share good product centric content with the customers(Kingsnorth, 2016). Thiscontest can be shared via website, social media, emails or any other digital network. Content leads to increase in visits, customer loyalty and sales. 5
Media selection is very important for a small business as it is on a low budget. However, equality important is the correct use of digital marketing mix(Dodson, 2016). Digital marketingmix is a set of marketing tools which can be used by the firm to target the customer and generate interest in its product(Dodson, 2016).Just as traditional marketing mix, digital marketing mix also consists of product, place, price and promotion. Additional three Ps of services marketing viz process, physical evidence and people can also be applied to digital marketing(Dodson, 2016).While selecting the media a small business firm must make sure that it is properly including the digital marketing mix components in it media campaign.(Dodson, 2016). The right marketing mixtool along with a thoughtfully selected media strategy can create customer loyalty ad customer relationship for the small business firm. Blog Links https://wordpress.com/post/digimarketing7.business.blog/9 https://wordpress.com/post/digimarketing7.business.blog/11 https://wordpress.com/post/digimarketing7.business.blog/13 6
References `Chaffey, D., & Smith, P. (2017).Digital Marketing Excellence: Planning, Optimizing and Integrating Online Marketing.Didcot: Taylor & Francis. Chaaffey, D., & Smoth, P. (2013).Emarketing Excellence: Planning and Optimizing Your Digital Marketing.New York: Routledge. Dodson, I. (2016).The Art of Digital Marketing: The Definitive Guide to Creating Strategic, Targeted, and Measurable Online Campaigns.New Jersey: ohn Wiley & Sons. Dunant, S. (2017).Essential Digital Marketing for Small Business.Morrisville, North Carolina, : Lulu Press, Inc, . Hajli, M. N. (2014). A study of the impact of social media on consumers.International Journal of Market Research, 56(3), 387-404. Kingsnorth, S. (2016).Digital Marketing Strategy: An Integrated Approach to Online Marketi.London: Kogan Page Publishers. Newson, A. (2017).Blogging and Other Social Media: Exploiting the Technology and Protecting the Enterprise.New York: Routledge. Ryan, D. (2016).Understanding Digital Marketing: Marketing Strategies for Engaging the Digital Generation.London: Kogan Page Publishers. Zhu, X. (2016).Business Trends in the Digital Era: Evolution of Theories and Applications. Berlin: Springer. 7