CCW332-Digital Marketing Unit-1 Notes
5 likes4,160 views
This document discusses key aspects of digital marketing. It covers online market spaces, components of a digital marketing strategy, opportunities for building brand websites through content marketing and planning website creation. The objectives are to examine the role of digital marketing and how its effectiveness can be measured. Digital marketing strategies must align with business objectives and assess internal/external factors. Content marketing is discussed as a method to encourage audience engagement and increase brand awareness through sharing informative stories and content.
CCW332-Digital Marketing Unit-1 Notes
- 1. CCW332 DIGITAL MARKETING Vertical V - Creative Media Professional Elective V – Semester B.E -CSE 1
- 2. COURSE OBJECTIVES • The primary objective of this module is to examine and explore the role and importance of digital marketing in today’s rapidly changing business environment. • It also focuses on how digital marketing can be utilized by organizations and how its effectiveness can be measured. 2
- 3. UNIT I - INTRODUCTION TO ONLINE MARKET Online Market space - Digital Marketing Strategy - Components - Opportunities for building Brand Website - Planning and Creation - Content Marketing. 3
- 4. Online Market space Market space • The market space in marketing is defined as a virtual market place in the commercial world, where the limitations of physical boundaries are not applicable. • It is an integration of numerous areas that are considered market places via technology or via an exchange environment that is operated by electronic information. 4
- 5. Market Space • The market space is considered a bi-directional unit as both the buyers and sellers can buy and sell through transactions in such portals. • Notable examples of market space are micro- blogging sites, e-commerce platforms, etc. • Eg:- Twitter, ebay.com, quicker.com, Myntra, Etsy, Alibaba, Amazon.com, etc. • Electronic transactions are used for the distribution of goods and services in the marker space. 5
- 6. Characteristics of Market Space • The transactions that take place in the market space occurs via online media or internet. • There is no face-to-face transaction as the electronic media does not offer any such option. • An interested party can find information in the market space about the available products and not anything about the products. • There are no actual showrooms or physical stores. These are replaced by the internet and computers that enable the option of buying. 6
- 7. Components of Market Space • Buyers • Sellers • Intermediaries • Other business partners • Products • Back end Infrastructure • Front end Support services 7
- 8. Digital Marketing Strategy • A digital marketing strategy is that it is a strategy put in place by a brand to align with set objectives and goals to attract a specific type, or types, of customer using a combination of marketing techniques. • Understanding Digital Business Strategy • Emerging Digital Business Structures • Digital Core Competency Alignment • Customer Development Strategy (STP 2.0 Framework) 8
- 9. Understanding Digital Business Strategy • The set of those conditions and factors which impact the company in its external environment and cause them to allocate and think through their overall plan of action in light of their internal resources and capabilities. This concept is even more applicable (as we shall see across this chapter) since the impacts of the digital medium on marketing strategy have been immense, varied, and not easy to map and attribute. • For this reason, let us first understand the basics of business strategy as defined in the texts on strategic management to understand its digital nature, and finally, create a roadmap for digital marketing strategy. 9
- 10. Strategic management • Strategic management, by definition, involves the formulation and implementation of major goals and initiatives taken by a company’s top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes. 10
- 11. Strategy Frameworks • Two of the most widely used strategy frameworks (which have also been covered in the earlier chapters) include • The SWOT Model and • Michael Porter’s Value Chain analysis • Modern portfolio theory • Porter’s Five Force analysis • Porter’s generic strategies 11
- 12. Modern portfolio theory Talks about corporation as a portfolio of business units, with each unit plotted graphically based on market share and industry growth rate. 12
- 13. Porter’s Five Force analysis 1. Bargaining power of buyers and suppliers 2. Threat of new entrants 3. Availability of substitute Products and 4. The competitive rivalry of firms in the industry 13
- 14. Porter’s Five Force analysis Porter shared that there are three generic strategies • Cost leadership • Differentiation and • Focus and a company must choose only one of these three or risk wasting precious resources. 14
- 15. Digital Factors Impacting Business Strategy Drivers • Stakeholder • Market • Customer and • Competitor Digital Strategy Impact Factors 15
- 16. RoI-based Digital Market Structure Development 16
- 17. Opportunities for building Brand Website • eCommerce Website • Blog • Portfolio Website • Membership Website • Research website • Educational Website • Dropshipping Website • Product Review Website • Web Hosting Reseller • Podcast Website • Fitness Website • Online Learning Website • Events Website • Online Forum • Nutrition Website • Job Board Website • Food Blog • Service Website • Fashion Website • Travel Website • News Website 17
- 18. Planning and Creation • Website creation and planning is the process of creating a website and planning for it. It involves creating a website and then planning for it, including setting goals, creating content, and making sure that your site performs well. • Five major steps 1. Website creation 2. Content writing 3. Designing 4. Development 5. Marketing 18
- 19. Website Creation and Planning • Website creation and planning are part of the process of creating a website for your business. • This involves designing the layout of a website, • choosing colors and fonts that represent your brand • adding images and video clips to make it more appealing to visitors • writing content for each page on your site (e.g., "About Us") • and adding social media buttons so, visitors can share posts from your blog or news section with their friends on Facebook or Twitter. 19
- 20. Website Creation and Planning • Website creation also includes planning how users will navigate around different pages in order to find what they need quickly without having too many distractions along the way; this is known as user experience design (UX). • Website creation and planning - the development of a site map, the selection of design and content management systems, and the establishment of technical infrastructure. 20
- 21. Content Marketing • The term content marketing refers to a method of marketing that includes creating and sharing online content that doesn't just promote a brand, but rather is designed to encourage its audience to visit a brand's website. • Brand awareness is increased by using storytelling and sharing information. 21
- 22. Content Marketing • 5 reasons why you should utilize content marketing to spike your Digital Marketing Strategy 1. The foundation of any digital marketing campaign is content 2. Audiences are informed by content 3. Creating good content leads to conversions 4. Engaging content drives social media engagement 5. Your brand's prowess is reflected in your content 22
- 23. Benefits of Content Marketing • Increase online visibility • Generate more leads • Boost loyalty • Improve authority 23
- 24. Content Marketing - Examples: 24
- 25. References • https://www.marketing91.com/market-space/ • https://business.adobe.com/blog/basics/digital-marketing-strategy • https://www.linkedin.com/pulse/role-website-creation-planning-digital-marketing-imtikumla-ajem/ • https://www.salford.ac.uk/salford-business-school/importance-of-content-marketing-for-your-digital-marketing- strategy#:~:text=The%20term%20content%20marketing%20refers,using%20storytelling%20and%20sharing%20info rmation • https://mailchimp.com/marketing-glossary/content-marketing/ 25