One of the questions that have marketers of the new digital era of marketing divided into different opinions but still reach the same conclusion. Yet the average business owner does not know the value of a digital marketing campaign to get targeted results and what the costs are applicable to this type of advertising medium. In order to determine the cost behind your marketing strategy you need to determine by way of analyzing some of the main market research areas.

Target Market

This is where you try to determine the value your target market adds to the digital medium of advertising. The more value your target market adds to digital marketing the more you should invest in resources from a business perspective – as the more susceptible they are to converting to a sale. It is important to consider not only the target market you are already engaging; but the potential or desired market not yet targeted as well.

Channels

When it comes to digital marketing it acts as the backbone to the other sub-channels we hear so much about today in Marketing. Sub-Channels as the likes of online social channels (Facebook, Twitter, Google+, Pinterest etc.), digital & traditional billboards and online-affiliated advertising (like Google AdSense and Amazon etc.).

Methods

The methods used within different sub-channels in digital marketing are different – depending on the creative aspects of the marketing campaign (like the amount of user interaction needed – Like using a QR scanner as an example), user preferences (pending on your target market – age, sex, access to telecommunications infrastructure etc.), type of channel, type of message wanting to be conveyed and most importantly – the type of product or service you are trying to market. There are many more variables when you go into more specifics –what you need to be aware of is that the desired and most productive / exploitive methods may vary by quite a lot from a financial, resource consuming and ROI (return on investment) perspective.

Conclusion

No – a digital marketing strategy is not free. Not even when using a free (no fee to join and share) sub-channel like Twitter. But then again – what today in business is free? Time is money – and money at the end of the day is the foundation your business needs to survive and grow upon. Digital Marketing is a great source and medium for marketing in a techno-savvy, modern society with the opening, broadening and simplification of business opportunities and exposure across national and international borders alike.

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