Rise of Digital Marketing
Digital Marketing in BFSI
Banks have been the earliest adopters of digital marketing especially social media marketing. Twitter is being used to monitor and address customer issues. Whereas Facebook, LinkedIn are more targeted towards brand building and affinity based targeting. Bank of America has been the pioneer in this regards. They have successfully used infographics, engaging blogs and predictions about market which has made it a successful online guide. Further with more focus on “inbound marketing” which drives the growth special attention is being given to video content marketing, embracing non-finance content. HSBC has used short films to inspire the youth to open bank accounts. Even hiring of personnels are being done through social media. Goldman Sachs has been using Snapchat to hire the millennial recruits. Unconventional thinking by partnering with comedians like Aegon for its digital first campaign. Another successful implementation of social media in this sector is tying up of social channels with call centres to provide the last mile service to customer.
Digital marketing in Education
The digital marketing era has changed the education sector drastically. Various online education platforms have come up which impart knowledge on varied topics at very low cost. Thus now-a-days educational platforms and institutes can target a larger audience at effective lower cost. The digital marketing helps and provides the facility of tracking of performance of the various campaigns carried out. Further how many students are enrolling for which course, which courses are preferred among students, etc can easily be measured and suitable digital campaigns can be carried out. The conversion rates of enrollment are high by using digital marketing tools such as sms and email targeting. Unacademy an educational platform has been promoting its application on various social media and digital channels highlighting important points like free educational topics, well known faculty, etc. which attract new users. These type of structured content helps organizations grow in this digital paced world.
Digital marketing in Retail
The B2C prospect is changing drastically. The customers demand are rapidly evolving and hence the importance of digital marketing for retailers have gone up. Amazon has improved the buying experience of customers by gathering data of various touch points like what is preferred mode of payment, which time of the year there are higher sales, which products are the mouse cursor hovering about, etc and customizing the content according to the needs of the customer has made it a success in the e-commerce industry. Further both Flipkart and Amazon are spending huge amounts in advertising for the special day sales promotion in digital media. With ecommerce into play, customers browse online for price of product and according to their needs buy from the desired platform i.e. offline or online. To attract potential customers to retail stores, they should provide digital information to the customers such as the price of items in stock, items in stock, location of store, details of the store etc. This information is critical for any local customer who is searching in Google about such goods. The retail stores can also use digital analytics to capture various data points about which items are selling off fast and which items customers are least interested in buying. Through effective use of digital marketing and analytics, retail stores can sustain competition from ecommerce players.
Digital marketing in Travel
The hospitality sector has been transformed with the influx of data. End customers can now get a host of information about any particular location, hotel due to increased digital marketing in this sector. The highlight of this sector is Trivago, which helps travelers to compare prices from different websites. However, the most striking feature is its distribution is different digital media channels as well as mass media. By customizing their digital advertisements according to the various geographical locations, it has penetrated various customer segments. Similarly, Airbnb and MakemyTrip has tied up with Bollywood celebrities for their different digital content where the highlight important points like experience, low cost, pay at hotel, etc which attract customer’s attention.
Digital marketing in Insurance
With stagnation in the offline mode of advertisement in Insurance sector, the need for moving into digital space was required. The latest spending spree has been seen by the Mutual Funds where they have been tying up various digital content players like TVFPlay, Timeliners, etc where substantial investments have been made to promote the use of Mutual Funds and the advantages of the same. As a result, indirect advertising has been targeted more in the Insurance sector when compared to other industries.
Digital marketing in Food
Zomato, Swiggy have been promoting by booking space in Youtube (5 secod slots) where they are promoting about the offers. Also few of them have been partnering with the online content channels as part of promotions. However, to get attention of customers, they have been mainly promoting on social media channels using posters or 5 second advertisement slots. Zomato has changed the food industry by allowing you to optimize and choose according to your mood and type of restaurant. Further providing pictures of the restaurants and menu cards Zomato are enabling the customer choose from a host of options. The reviews in particular play a crucial role for customers to select.
Digital marketing in Real Estate
Real Estate sector is the latest addition to the digital marketing. Paid services to interested and prospective customers have enabled this industry. Getting customer information like email id, mobile number, etc are being used to design focused ads which are being promoted mainly on Facebook to attract the attention of these customers. Further blogs about particular Real estates gain credibility among end customers.
Digital marketing in Airline Industry
With so much data in the market, airlines industry is using digital marketing efficiently to target potential customers. Making customized posters and spending huge revenue over digital promotions of special tickets. Examples include weekend ticket for 999 INR are some of the promotion techniques used by the various airlines. Also by partnering with various travel sites like MakeMyTrip and Goibibo and understanding the buying behavior of customers are helping airlines strategize their digital marketing content.