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Month: September 2018

How Digital Marketing is Transforming Business

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We are a society driven by digital technology. Digital technologies are growing at an exponential rate. The impact of the Internet on human history is only comparable to the invention of the wheel and airplane. There are countries where people do not have running water, but own smart phones and internet. The net has provided a game-changing impetus to business activity. Digital marketing is one of the many off-shoots of the internet and has tremendous applications in the world of business. It makes use of online channels, especially the social media, for marketing, advertising and communication purposes.

A humungous amount of content is being generated and shared via social media and messaging apps. As per estimates, a whooping 3.3 million people write a Facebook post and 29 million messages are distributed through Whatsapp every 60 seconds. Marketers have their work cut out to make their messages and brand visible in this huge ocean of activity.

Big Data refers to the large amount of data that inundates the business and marketer of today. AI helps companies to learn about customer behavior and to know how, where and when to use the data. Companies should be specific about how they plan to use the data to meet their objectives and priorities. The savvier companies are using data to create personal, tailor-made marketing messages.

Brands are compelled to innovatively reach out and engage with their customers in the new business environment. Amid business disruption, many sectors need to be creative in order to compete. For example, in the financial sector, financial institutions are experimenting discovering new ways to engage with customers in wake of stiff competition from the likes of PayPal.

Customers expect a certain amount of transparency in today’s digital world. In order to build customer loyalty, companies and brands need to be open and demonstrate their openness through their digital marketing efforts. This is especially relevant in the food sector as consumers are conscious about the contents of their food.

Digital Marketing creates an equal opportunity for all companies, big and small. Gone are the days when only companies with deep pockets enjoyed a monopoly over marketing and advertising. Smaller companies have access to the same digital tools that are used by their larger counterparts. Digital Marketing is less expensive than print advertising. It also has a wider reach as countless people access websites and sponsored posts on social media. There are many SEO companies that generate traffic and build leads for businesses. Digital marketing opens up a new world of marketing opportunities such as email campaigns, content marketing and search engine optimization. As everyone is online, more people see the ads.

A business can expand its reach, increase its brand value and offer a rich customer experience by creating a comprehensive digital marketing strategy. Technology evolves day by day, and businesses that proactively adopt and polish digital practices can race ahead of their competition.

Senior Consumers play an important role in a company’s Digital Marketing Strategy

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In today’s digital age, almost everyone has turned to the internet for a variety of purposes. People of all ages, from infants to seniors, use the internet for entertainment and information. Did we say seniors? Yes, you heard it right. With the rise of the aging population in different societies, a new image of people over the age of 65 is emerging- they are more active, more educated, ethnically diverse, and are not in a rush to retire. Seniors are also starting to create an impression in the digital world despite their slow start in embracing technology. In a survey conducted by the Pew Research Center last year among 3,015 adults aged beyond 65, a substantial increase in the percentage of American seniors are now active users of the internet with 67% compared to just 12% in 2000.

The ownership of smartphones among adults with ages 65 and up has also steadily risen through the years, with four in ten seniors now owning smartphones compared to just 18% in 2013. With the increase in smartphone ownership and internet usage among the seniors, more of them are also heading towards social media with 34% of seniors now engaged in sites like Facebook and Twitter. While factors such as age, education, and income contribute to the various behaviors of seniors regarding social media use, a high concentration of social media users are among seniors with ages between 65-69 (47%), seniors with college degrees (20%), and seniors with household incomes starting from $75k and above (57%) compared to their other counterparts.

While most seniors are still disconnected from the digital world with one-third of American adults aged 65 and above saying they never use the internet, the steady rise in internet adoption among the elderly continues to provide promising figures when it comes to staying relevant in the digital age. Older adults also have a positive view towards the digital revolution, with 58% believing that the technology has given a positive effect on society. 49% of older adults also find it “important” to have access to high-speed internet.

Drawing from these figures, the shift towards the increasing tech adoption among seniors is an interesting change that will cause ripples not just in technology itself but also among consumer behaviors and marketing. Elderly consumers have always been the least prioritized when it comes to marketing for retailers and consumer goods, but the increasing number of seniors and the changes in behavioral patterns from lifestyle to consumption among the demographic is a potential factor companies must tap to maximize growth.

According to Jaana Reemes, partner of the McKinsey Global Institute, a worldwide management consulting firm, “Older folks are relatively high spenders because they have high incomes in developed economies. The downturn of the past ten years has hit them much less than it has hit many in the younger segment, particularly the new entrants to the labor market. Their consumption spending is still relatively high. Even a smaller group in this larger pool can be very attractive.”

If you want to run a successful Google Adwords campaign or develop an effective marketing strategy, it’s best to consider and target older demographics, as it is evident that they are a largely untapped consumer market.  

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