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The rise of digital marketing

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  • 1. Charmian Solter November 12, 2013 Property of www.theSCurve.com
  • 2. Thesis  Digital Channels  Why is This Important?  Evidence  The Debate  Evidence  They Say  I Say  Evidence  Conclusion  Further Research  References  Property of www.theSCurve.com
  • 3.  The dominance of the Internet and advancements in technology gave rise to digital marketing as a prominent strategy, resulting in a decline of traditional marketing channels.  To read the entire research document go to www.theSCurve.com Property of www.theSCurve.com
  • 4. The plethora of digital marketing channels gives a marketer countless ways to reach their target audience. Source: Google search internet marketing images Property of www.theSCurve.com
  • 5. This topic is worthy of discussion because it touches on marketing trends and predictions for the future.  Marketing involves money, spending it in hopes of increasing sales of services and products, and resulting return on investment (ROI.)  The general public is affected by the marketing channels utilized.  Businesses are affected by the rate of conversion to sale these marketing campaigns yield.  Staying abreast of the latest and most effective marketing trends makes companies efficient and effective at producing revenue, which keeps them in business and their employees employed.  Property of www.theSCurve.com
  • 6. According to the Gartner report forty-one percent of surveyed businesses indicated they save money by replacing traditional tactics with digital practices. This, in turn, allows them to fund further online investments. Twenty-eight percent of brands said they are decreasing traditional marketing expenditures to free up room for digital programs (Gartner 2013). Property of www.theSCurve.com
  • 7.      The argument and the supporting evidence are based on three tenets. To begin, the Internet is a significant and dominant force in our lives. Second, digital marketing evolved from technological advancements and our reliance on the Internet. As a result, this rise in digital marketing channels has caused a decline in traditional marketing methods. Finally, the argument is made that perhaps it is indeed a combination of traditional and digital methods that best reaches the target population. The ability to harness the most effective means of marketing is of upmost importance to business owners and those who market products and services for them. Property of www.theSCurve.com
  • 8. Digital channels are on the increase. Mobile marketing 71% Video 65% Email Marketing 57% Being the top three. TV/Radio/Print Ads with a 39% decrease Virtual events and direct mail very little change. Property of www.theSCurve.com
  • 9.      “The Internet has led to an increasingly connected communications environment, and the growth of Internet usage has resulted in declining distribution of traditional media such as television, radio, newspapers and magazines” (Stokes 2008, 4). In my opinion, it‟s not an either/or; it‟s both. The right mix of traditional and digital marketing can help any practice achieve the best results” (Savage 2010, 56). “The rapidly emerging digital economy is challenging the relevance of existing marketing practices” (Wymbs 2011, 93). “The evidence is mounting that more passive traditional channels are indeed declining in effectiveness” (Weritime, Fenwick 2008, 7). As marketing channels evolve to meet the needs of the population it serves, previous traditional channels have become less effective. This requires that marketers throw out almost all that they hold dear and embrace technology, a new role and real accountability (Pearson 2011, 7). Property of www.theSCurve.com
  • 10.      Avenues to reach a targeted segment of the population are plentiful through the digital medium. There are as many methods to reach people digitally as there are channels on a television. Pleasantly, they are far less costly and measurable, yielding a higher ROI than previous, traditional methods of marketing. “With tighter marketing budgets these days, allocating spending and measuring ROI are paramount for any business. Business owners and managers need real-time statistics to demonstrate the value of marketing initiatives. As a result, digital marketing has become an integral component of company marketing strategies” (Stokes 2008, 4). Thus, the birth of the Internet gave rise to digital marketing causing a decline in the use of traditional channels. Property of www.theSCurve.com
  • 11. In 2010, 50% of respondents decreased their overall marketing budget. This budget spend bounced back the next year to 47% of respondents increasing their marketing spend. 2012 topped the charts with a 57% increase in marketing budgets, followed by 54% increase projected for this year 2013. Source: CMO Council. 2013 http://www.cmocouncil.org: CMO Council. Property of www.theSCurve.com
  • 12.     As technology advances, how we maneuver in this world changes too. The tools we use to manage our daily lives evolve for greater convenience. The verification that marketing methods have shifted from traditional channels to digital marketing methods is key. I have supported the notion that digital marketing channels are less expensive and measurable, unlike traditional forms of advertising. However, we must bear in mind, the Internet doesn't reach everyone. Seniors and rural dwellers are not as technically savvy or may not have Internet access at all. Therefore, this population must be targeted in other ways. The human race, along with the tools they use will continue to evolve and our analytical minds will always yearn for greater comprehension. Property of www.theSCurve.com
  • 13.    It seems the trends and data are at odds with one another. Is it digital methods, which may be deemed impersonal, or in fact the personal touch, face to face contact, or a union of the two that is the most desired route to gain business, clients and loyalty? Further research would be necessary, as well as staying current with the latest trends and advancements in technology. Property of www.theSCurve.com
  • 14. Aberdeen Group. “Hot or Not What Marketing Channels are on the Rise.” 2011, Accessed October 8, 2013 http://aberdeen.com/Home.aspx  CMO Council. “State of Marketing 2012 A Global and Multi-Regional Marketing Assessment.” Accessed September 18, 2013 http://www.cmocouncil.org: CMO Council.  Gartner Report. “Key Findings From U.S. Digital Marketing Spending Survey.” 2013, Accessed September 18, 2013 http://www.gartner.com/technology/resear ch/digitalmarketing/digitalmarketingspend-report.jsp . Gartner.  Pearson, Timothy. 2011. The Old Rules of Marketing are Dead. New York. McGraw Hill.  Stokes, Rob. 2008. eMarketing: The essential guide to digital marketing Fourth Edition. Cape Town, South Africa. Quirk eMarketing (Pty) Ltd.  Savage, Rhonda. 2012. “Taking your Marketing Digital.” Dental Economics 102, no. 7, (Summer): 56-57. Accessed September 18, 2013 http://www.dentaleconomics.com/articles/print/volume-102/issue7/features/digital-taking-your-marketing.html  Wertime, Kent and Ian Fenwick. 2008. DigiMarketing: The Essential Guide to New Media and Digital Marketing. Hoboken, NJ. Wiley.  Wymbs, Cliff. 2011.“Digital Marketing: The Time for a New „Academic Major‟ Has Arrived.” Journal of Marketing Education. 33, no. 1, (Spring): 93-106. Accessed October 15, 2013. doi:10.1177/0273475310392544  Property of www.theSCurve.com