Digital Marketing Analytics = Performance based Behavioral Marketing

All the marketing activity performance is measured based on some yardstick. Even in offline marketing some yardstick is followed to understand the performance of the marketing. There is no foolproof mechanism in place to track the offline marketing performance.

Digital totally crashed this bottom neck. All the digital marketing activities  are track-able.  Below aspects in digital marketing that makes ” Mere Marketing” to “Performance based marketing”

  • Consumer Behavior – Understanding the consumer behavior through effective tracking
  • Customization – Customizing the product & services for target audience in less time
  • Behavioral Targeting – Guru for “Behavioral Targeting” is none other than “Google”

Analytics add “Intelligence” to marketing activity. Analytics takes marketing to next level. Analytics helps the marketers to understand the consumer behavior/taste and facilities the marketers to serve the consumers better. We can generate thousand of consumer reports / data using present web technology & analytics. But the real catch lies in

Defining the Problem -> Identifying the right Metrics for the Problem -> Generating the Quantitative Report -> Interpreting Quantitative Metrics to Qualitative Aspects . Because we are dealing with humans.

Digital presence becomes indispensable for businesses

The main advantage of digital medium from marketing perspective is convenience (Both from buyers & sellers perspective). Marketing mix “Place” is replaced by “Convenience” by digital. Moreover the Internet connectivity is growing exponentially in developing & under developed countries (Even in rural areas). The internet connectivity speed is also increased significantly.

Digital presence & marketing is delight for businesses because

  • Targeting – The business can reach the target audience who sits in any part of the world (No boundaries)
  • 24/7 – The digital medium is always open
  • Measurable – Measuring ROI is feasible
  • Cost Effective – Budget flexibility….. One can even run a  campaign for 10 dollars
  • Customization – Ability to customize the communication based on the target audience

Digital presence  is delight for Consumers because

  • Product Research (Novice to Intelligent) – Consumer can  access the product review
  • Communicate – Communicating with sellers  is easy
  • Experience – Consumer can experience the product (like software) before buying
  • Convenience – Consumers can buy the product just sitting in home
  • Credibility – Most of the business offer “money back option” if the consumers are not satisfied
Digital Medium totally changed the consumer behavior. Now a days, digital medium even influence / affect traditional marketing.
Digital medium makes Consumers the “King” & Sellers the “King Makers”

 

What is Marketing?

In Nutshell, Marketing is a cross platform / cross departmental process of connecting with consumers and fulfilling their needs. Now a days, most of the marketing activity becomes sales oriented. By pushing the products & services to the customers, one can acquire few customers. But, is it possible to retain them????

Marketers should educate the consumers that, what are the ways & means are available to solve their problems.

Now a days, consumers are very intelligent. They know what they want, how to get. But…

They don’t know, whether the product or service fulfill their needs/requirements? That’ where the marketing comes to play……

Yes, marketing is a commercial activity (No don’t about that). Marketers should address the consumer needs & issues continuously. Moreover, marketing activity or department should not be considered as separate. It is a part & parcel of each department activity of the organization (R/D, technical, product, accounts, customer support, sales, etc). Integrated Marketing activity is essential to access the marketing goal.

Marketing is not only about communication. More than communication, listening process is very essential.  What consumers feel about the products & services. What product & service enhancement should be done to keep the consumers happy? What bottle neck the internal department are facing to take the product & service into next level (Innovative)?……

Quantitative success of marketing depends on the Qualitative aspects. Because we deal with consumers called humans :)