Digital media is an aspect of online marketing that uses electronic and web based digital technology including mobile phones, desktop computers and various other electronic media and platforms for promoting products and services to consumers. The evolution of digital media during the late 1990s and early 2000s changed the very way companies and brands utilize technology for advertising. This shift towards the more flexible and performant platform provided by digital media has had significant impact on the performance and results for many brands as well as their ability to create an identity and position in the market. Today, this type of strategy is not just useful for reaching out to customers but is actually necessary for survival in the modern marketplace.
What has changed? Digital media has largely remained the same but the delivery methods have evolved drastically. The traditional radio, television, print and billboard advertising has all but been replaced by Internet and streaming media. There are a number of reasons for this trend including the fact that consumers have become more demanding, spending time at home rather than in the car, and the ability to interact with businesses in a more personal and direct way.
Flexibility and performance: Social media platforms have also changed the way brands advertise because they have increased the speed and accessibility in which consumers can engage with ads. This performance is measured by the amount of engagement or time spent on the social media platforms by their audience. This measure of performance has become particularly important as brands need to measure their performance relative to their competitors. Tracking the engagement and time spent on each platform provides valuable insight into brand performance that can be translated to different markets, different products and different markets at different times.
Content strategy and performance across different media: Content strategy refers to the cohesiveness of the strategy and its execution across different channels. Brands must determine if their content is being successfully spread via their chosen channels. In order to successfully execute across different media, a brand needs to test across different types of channels in order to determine which one(s) are performing to their expectations. Also, content strategy is more complex when compared with performance measurement. It includes the evaluation of campaigns across digital and traditional channels such as radio, TV, online, mobile, and other interactive channels.
Digital marketing: Digital marketing, also known as internet marketing, refers to the implementation of a campaign through digital means. In the past, digital advertising represented mostly printed media. However, with the rise of mobile apps, social media, video marketing, and other digital channels, it is not surprising that digital advertising is now a major part of a wide range of marketing strategies. A variety of digital advertising options are available and include pay per impression, pay per click, cost per action, and cost per thousand impressions. Digital marketing enables marketers to create and develop highly customized advertising campaigns which can be used across a wide range of platforms.
While these new forms of media represent new and more effective ways to reach consumers, the same cannot be guaranteed for the future. Many companies have benefited from the rise of digital platforms, while others have faced serious challenges. Marketers need to carefully evaluate their media strategy to stay ahead of competitors.