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Digital marketing is taking over the world, especially in the financial services sector.  Almost all financial institutions are taking steps to venture into digital marketing as it provides the widest range of agencies to market their products to win the market. Get started. The sooner, the better. Identify your option and start your digital marketing.  We also have internet marketing.

Pros & Cons of digital marketing

Internet marketing This is the use of the internet to promote business, brands, and products to ensure maximum sales and traffic. Internet marketing provides a wide range of marketing tactics such as emails, searches, or even media and more, just to mention but a few. Internet marketing has been widely used by content creators. Because content creation is taking all over and is being seen as the face of future marketing strategy.

There are several types of digital marketing. Here, we`re going to take a look at each of the type briefly;

Types of digital marketing

Content marketing. In this type of marketing, there’s no direct marketing of products. It creates valuable content to promote the experience of a customer. It is usually done mainly through blogs, posting videos, and images that give customers information about a certain product.

Search engine optimization (SEO). This is where the search engine (google) works effectively. Here, one has to go to your website or any other related search engine to get results. Therefore, your website should tell attractive and with all the content information need in order to attract more customers.

Search engine marketing (SEM). This works hand in hand with both PPC and SEO. They both bring in paid, and unpaid traffic website means. Here, the keywords of the product is the only content used in the advertisement. 

Pay per click. It is useful in search engine. Every time the advert on your site is clicked, you earn. Here Ads on a website are used for marketing a certain product. These days, almost every website or even YouTube channels have Ads that promote or market a certain product or promoting a certain brand. It is effective as most people spend most of their time watching YouTube videos. 

Social media marketing. This is done through any of your social media platforms; Instagram, Facebook, or even Twitter. Depending on your product, all platforms are good grounds for marketing, especially Facebook, where most product marketing does well. By posting a business or a product brand on any social media platform, its likely to attract more people since, in the current world, a lot of people spend their time on social media platforms.

Email marketing. This involves emails. It’s a direct form of marketing since blogs or offers are sent directly into your email inbox. It works better when the email is attractive. Through this, you can send several emails to people depending on your choice of product. This has become effective as most companies or businesses have identified that most people have email addresses, and so they send promotion emails to your inbox.

Affiliate marketing. It is the use of position or power to market a product. They mostly involve their audience to promote products. Most big companies even use their social media pages to influence their audience so as to promote their product.

Viral marketing. This is the use of viral images or videos on social media to market specific products depending on the content of the video or images trending in social media. The basic here is simple; you just create compelling content. This has worked for many businesses and brands. People get to watch/see trending videos or images, and they share them. Through this, businesses or products go viral as the video or the image hence promoting the brand or the business.

Radio advertisement. This is the use of radio waves. Radios have gone digital, and therefore radios have become a digital way of promoting brands and other business products through adverts. Radios have been effective in digital marketing. Local language/ vernacular language has been used to ensure efficiency and accessibility, especially in remote areas where other social networks are not commonly used. Through vernacular, radios have established a good platform for illiterate people who don’t understand English, for instance. Therefore, radios also have met their target market when it comes to digital marketing.

Mobile advertisement. This spans across all digital marketing platforms. It mainly uses Ads to market since millions of people use their phones on a daily basis and regularly. The applications or even gaming applications have these Ads. Most people use their mobile phones, playing games, and whenever these adverts appear, they achieve their objectives.

Television advertisement. This is another platform a lot of business people and companies have taken to market their products and brands. Most people spend most of their time watching TV, so it becomes more efficient in promoting brands and products as most people watch different programs. These days almost every household owns a television, and most businesses and brands have taken advantage of this to market their products and brands. Billions of people watch television every hour every minute. Therefore, companies and other business organizations have met their target through this means.

Digital marketing has been widely used. Despite its effectiveness, it also has its advantages and disadvantages.

Advantages of digital marketing

The main advantage of digital marketing is that it reaches the target at an affordable price. Other advantages of digital marketing include;

  • It reaches the global target through social media platforms and other websites.
  • It provides instant returns on investments made. 
  • It is cheap and hence affordable to all businesses.
  • It enhances personalization
  • Digital marketing opens new markets, especially through social media platforms. 
  • It’s easy to establish, especially through social media, so as to enhance measurable results.
  • It promotes social currency through bog posts.
  • It Promotes conversion rates, especially through websites.

As in all other businesses, digital marketing also has its disadvantages. Therefore, before going into digital marketing, take note of the following disadvantages;

Disadvantages of digital marketing
  • It requires regular skill training due to the regular change of social media platforms.
  • It is time-wasting, especially during content creation.
  • There’s a lot of competition since there are a lot of marketing platforms.
  • Lack of security. There is no proper security due to fake websites and account hackings.

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