The world has become digital, and millions of individuals, businesses, companies around the world use digital marketing to establish relevance and generate revenues for themselves.
And even if according to Emarsys, 42% of the world’s population use social media, (which in a way, explains how brands gain visibility on social media and earn much revenues), digital marketing is not another word for social media marketing, as many people think.
Rather, it is a form of marketing that is only possible through the use of the internet, to sell products and services.
Digital Marketing comprises different online marketing strategies that individuals/businesses take advantage of, to identify, build, and turn an audience to turn into paying customers for products or services.
The strategies include:
1) Search engine optimization (SEO)
2) Search engine marketing (SEM)
3) Content marketing
4) Social Media Marketing (SMM)
5) Pay-per-click advertising (PPC)
6) Affiliate marketing
7) Email marketing
There are numerous benefits to digital marketing. The most notable amongst all, is that it helps individuals/brands to identify, build and sell to their target audience at an affordable cost, compared to the traditional form of marketing.
Having established the importance of digital marketing to the average individual/business, it is totally not out of place for tech startups to leverage on digital marketing, if they are looking to thrive in the digital space.
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While it is understandable that many tech startups at inception are limited in resources and funds, and may be primarily focused on creating the best products with seamless user experience, without a digital marketing strategy in place, brand visibility, client acquisitions and revenue generating opportunities will turn out a mirage.
Implementation of digital marketing strategies would not only help tech startups develop the right product/services, but also:
- help them target the right audience that are in need of their products/services
- determine the right pricing models
- improve brand visibility, etc.
When new tech startups are launched, they get to compete with other existing brands/companies for the same target audience. These are brands/companies that offer the same product/service as theirs.
Also, according to a recent survey by CB Insights, 20% startups fail because they got outcompeted. Hence, digital marketing helps new tech startups stand a chance of successful competition and survival in the digital space.
And in cases where a tech startup introduces a new product or service, digital marketing is still needed to identify the target audience, establish and maintain a strong online presence, create a community of loyal customers that can be sold to on the long run. Needless to say, digital marketing is not only important at the early stages of a tech startup, but at every stage.
In a world driven by ever-changing digital technology, any tech startup not looking to leverage digital marketing is doing a huge disservice to itself.
Conclusively, owing to the fact that the digital marketing industry is always changing, it is imperative that tech startups are up-to-date with the most recent digital marketing trends, and also come up with digital marketing strategies that work, and help them stay ahead of any competition.
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