This post will define the terms used in online marketing (also known as digital marketing or marketing online) for businesses that sell to other businesses.
Inbound marketing is all about attracting, engaging, and delighting customers without relying on selling to them. Inbound marketers define marketing as “the set of activities that include marketing planning, marketing research, marketing campaign, and measurement”.
Marketing analytics, marketing automation tools such as HubSpot, and content marketing are examples of inbound marketing.
Inbound marketing is most effective when used in tandem with other marketing disciplines, such as sales. When combined, marketing and sales can use the same data to optimize future campaigns and make more informed decisions about customer acquisitions. For example, marketers can use lead scoring to identify high-quality leads and present them to sales, who can then pursue a close or converted sale.
Outbound marketing is all about driving actions (businesses to purchase products or services) rather than just engaging with customers. Outbound marketers often use marketing automation tools to build, measure, and refine marketing campaigns. Outbound marketers define marketing as “the set of activities that include marketing planning, marketing research, and marketing campaign”.
An outbound marketing campaign might look like this: Your company creates a guide to help businesses like yours operate more efficiently. You then use marketing automation to send out a series of emails, inviting interested parties to visit your website for more information.
Outbound marketing is usually executed in conjunction with other marketing methods, such as SEO, Content Mozilla, and social media.
The marketing mix is the combination of media and promotions used to communicate a message to a target audience. The four components of the marketing mix are:
- Messaging: the reason for the marketing message
- Channel: the medium used to get the message out (such as social media, digital ads, or radio)
- Persona: targeted audience based on demographics (such as males between the ages of 18 and 34) or psychographics (such as risk-takers or thrill-seekers)
- Media: the type of content used to get the message out (such as an email marketing campaign, an ad on Facebook, or a blog post)
Your marketing mix needs to reflect what will make your product or service stand out among your competitors. For example, if you’re in the market for a new company phone case, you might consider reviewing the available options and selecting the one that best suits your needs. While you’re at it, make sure to purchase a case that is large enough to hold all of your important documents, but not so large that it’s cumbersome to carry around. Your smartphone case is a great place to keep things like your ID, credit card, and other important papers. And don’t forget: your smartphone case is your mini-office, and you should enjoy the freedom of working remotely when needed. The location of your smartphone plays a huge role in how easily you can access and utilize the resources available to you. For example, if you have an office at home, you might not want to carry your laptop around all of the time. A smartphone is perfectly suited for doing business from wherever you please.
Digital Marketing Metrics
The digital marketing industry is constantly evolving as new technologies emerge and existing tools and techniques are updated and improved upon. Because of this, many of the metrics used within digital marketing are always in a state of flux.
There are three primary metrics used to determine the effectiveness of a digital marketing campaign:
- Metrics based on volume: the number of people who have interacted with the campaign (i.e., opened an email, visited a website, or made a purchase)
- Metrics based on value: the amount of profit (or value) generated by the campaign
- Metrics based on engagement: the number of people who have taken some sort of action (i.e., opened an email, visited a website, or made a purchase) due to the campaign
These metrics can be tallied using analytics tools, such as Google Analytics. However, you should keep in mind that the numbers may not always be accurate, as many metrics are subject to manipulation by the user.
To give you a better understanding of how these metrics can be used, we’ll now examine each type of measurement in more detail.
Metrics Based On Volume
The metrics used to determine the volume of a marketing campaign are very similar to those used to measure traditional radio advertising. The primary difference is that you’re applying those metrics to an online channel, rather than a radio station.
Pay-per-click advertising (or pay-per-action, which is the same thing) is the process of generating revenue from an online ad click. When a user clicks on an ad, the advertiser pays the advertising server, which then transfers the payment to the website hosting the ad. So when someone clicks on an online ad and is taken to a marketing page, that’s considered a “conversion” (the act of converting a potential customer into a paying customer).
To determine the volume of a marketing campaign using pay-per-click ads, we need to look at several factors. First, we need to consider how many people clicked on the ad. Then, we need to examine when those clicks came in (the timing). Finally, we need to consider how much each click is worth (the cost-per-click, or cost-per-action).
Each of these factors will influence the overall volume of the campaign. For example, if your target audience is extremely busy, it might not be a good idea to display an ad on social media sites that draws attention to itself. You might consider displaying a more concise ad that doesn’t need sidebar decoration, and increasing the frequency of your ads to ensure you reach your target audience.
Metrics Based On Value
The value of a marketing campaign can be determined in a number of ways, all of which are considered to be metrics. One way to measure the value of a campaign is to look at the amount of profit created by the campaign. Another way is to examine the cost of the campaign in terms of money and time spent. Still another way is to examine the results of the campaign, such as the number of website visitors, emails, or social media followers generated by the campaign.
If you’re searching for a profitable niche market, you might want to consider reviewing the available options and determining what would be the best fit for your business. For example, if you’re providing printing services for small businesses, you might want to consider developing a marketing strategy for this niche. This strategy might involve using SEO to attract potential customers to your website and creating a small business marketing plan to execute your strategy.
Metrics Based On Engagement
The metrics used to determine the engagement of a marketing campaign are focused on measuring the overall effectiveness of a campaign, rather than simply looking at the volume of interactions with the ad. For example, if you run a social media account for your company, you can measure the effectiveness of your engagement by examining the amount of engagement (i.e., activity such as likes, comments, and shares) on your social media platforms.
If the engagement on your social media accounts is low, it might be a good idea to take a look at the type of content you’re posting and why it isn’t resonating with your target audience. You might want to consider posting more often (and not just on social media), ensuring that your content is reaching your target audience. If you’re looking to increase the engagement of your social media accounts, you might want to focus on adding more fun activities participants can engage in, such as inviting other users to join your private group.
As you can see, the metrics used within digital marketing can vary widely, but they all have one thing in common: the ability to track the results of a marketing campaign.