In layman terms - using the power of internet and data to make sure your ads, products etc. reach your most probable customer is digital marketing
As a luxury brand, it is important to strike the balance between sales and exclusivity. Digital marketing plays an important role in helping strike that balance by taking your brand to the right set of consumers, thus maintaining exclusivity (preferring class over mass). Not only that, it also helps bolster and create the right brand perception/brand image which is critical for any luxury brand's survival.
Marketing strategies are often implemented in measurable chunks called campaigns
Challenges faced by brands in Digital Marketing?
- Knowing who your audience is - As a basic as this may sound, unless you have a clear segment of the market - age, gender, geography, income group, social status etc. any and all marketing campaigns are worthless
- What does your audience want - Depending on where your brand is and what you plan to do next, the audience will need to be provided the right content. This is often the most critical part of the campaign.
- How to reach your audience - Once you have decided who your audience is, how do you reach them? Which platform (Instagram, Facebook, Tik Tok, Snapchat, YouTube etc.) is best suited to reach them. Moreover how do you reach out to them? are there any specific filters, settings or parameters
- Budgeting - Every platform charges differently for ads and the same budget could get you very different results across platforms.
- Measuring results for the campaign - One of the crucial things is to understand how the campaign is performing. In the world of marketing, trends, preferences etc. change rapidly.
What helps?
- Knowing your audience is the key to right marketing strategy. Once you have a clear understanding of your target audience, it becomes easier to understand what they want, need and desire. Effective Digital marketing content can be created around this knowledge.
- Once you have taken care of point 1, then it all boils down to various methodologies that you can apply across social media platforms to deliver your ads and content to your audience. Some of the well known methodologies here are:
- Social Media Marketing - relies on use of social media websites to promote a brand, foster engaged and interactive communities, develop brand voice, raise brand awareness, offer customer service and more to ultimately boost sales and profits. Some common social media platforms include - Facebook, Instagram, Twitter, LinkedIn, YouTube, Pinterest
- Search Engine Marketing - involves use of paid ads, which appear on SERPs (Search Engine Results Pages) to put your brand on the forefront. Involves in-depth keyword research, followed by setting up and optimizing a tailored SEM campaign, which helps instantly engage target audiences right where their search begins.
- Search Engine Optimization (SEO) - uses customized and optimized content aimed at improving your website’s ranking in SERPs. Requires reader-friendly, top-notch content which boasts optimal keyword density to increase brand awareness, generate leads and drive increased organic targeted traffic to your website. Focus on both on-page and off-page SEO to enrich your website and content pertaining to your online presence, beyond your website.
- Influencer Marketing - This recently popular mode of marketing involves identification and collaboration with a social figure who holds a sway over your target audience. Typically, large influencers work via agents and agencies and charge per deliverable post - video or image . Smaller/upcoming influencers are also gaining popularity for their niche
- Email Marketing - Involves sending target (preferably customized) emails to your target audience based on their interests, past purchases, current offers etc.
- There are several other methodologies available like - Content marketing, Digital PR, Pop Ups, Brand collaborations etc. These can be employed based on the brand maturity