Digital Marketing – the Most Heard Word During these Days
Today’s increasing competition and technology with the rising utilization of the internet have transformed traditional marketing strategies for digital marketing strategies. Digital marketing acquires wide scope in the area of marketing and in the increasingly competitive market necessitate traverse business models using digital technologies which lowers the operating cost as well as elaborate business worldwide.
Today online marketing has higher opportunities for enlarging their business as customers are more pleased by doing digital transactions and digital marketing is much more satisfied than compared to traditional forms of marketing. Digital marketing presents the product or services not only in text format but also in different ways that impress customers and provide an opportunity of comparing the product or services with that of others. So the customers are enabled to access the marketplace 24*7 at any place in the world.
As there is a dynamic change in technology the connectivity among consumers is growing day by day as a result consumer behavior is changing accordingly which necessitates the business organization to understand and analyze consumer behavior. The impact of digital marketing on consumer behavior is analyzed and how consumer behavior changes with the traditional way of marketing and digital marketing.
As the world of business is moving more towards an online way of transaction the implementation of digital channels becomes a more vital part of growing sales of the organization. Digital channels improve the efforts of the organization. Digital marketing has emerged as a new way of marketing business activities.
Activities that are conducted through digital methods offer business organizations to communicate with consumers in a speedy way irrespective of global location. The digital way of marketing is mentioned to have one of the better methods to conduct business as it removes unnecessary problems and helps to communicate with consumers indirectly route. There is special attention paid to digital channels as it is an effective and efficient way of communicating. Usage of the internet and mobile market is rapidly growing in India as there is an increasing income level of the consumers it is estimated to grow millions of online users in the coming years.
The evolution and broad usage of online technology have shifted in the way society or consumers communicate with each other in their day to day life or in their professional life. Consumer behavior in online shopping is growing the center of focus of marketing research. In specific, the behavior of consumers in digital marketing from selection to post-purchase evaluation has become a considerable focus of the research in the area of marketing.
With the increasing growth of information and technology, digital marketing services are becoming habitual and even people are unavoidable. Consumers choose digital marketing as another way of shopping because it is suitable and much faster than traditional marketing. And these also attract a large number of businesses to market their products on digital platforms. The consumer shopping behavior changes from a brick and mortar model where the consumer has the option of feeling the product before purchasing it
As there is a positive impact of digital marketing in the minds of consumer’s traditional marketing will transfer to digital marketing. The study was focused on observing the individual consumer behavior of frequent online shoppers with those who visit the website without having the intention of purchasing.
What does Digital Marketing Mean?
Each and everyone from teens to age-old people use digital devices and it been a part of life this provides a huge opportunity to use digital channels to reach consumers.
Digital marketing refers to endorsing goods, services, and brands to the ultimate consumers by using online channels such as websites, social media, mobile applications
in other words “Digital marketing is referred to as online marketing, internet marketing. Digital marketing is selling and buying of the information, product, or services through electronic devices with the use of the internet”.
In the highly dynamic market where technology is changing every day the way of approaching customers from a business organization is changing to digital strategies. Digital marketing is not only essential for a business organization to increase or expand its operation but it’s equally important for the consumers as it provides direct communication with business centers. Digital marketing also provides the option of analysis of the data of customers which is very much helpful in measuring the efficiency of the advertisement campaign.
Need for digitalization
- The central point behind digital marketing is to take maximum advantage of available technology which is needed in decreasing the workload and cost.
- Digitalization also ensures customers with a wide range of products from different sellers of their choice from any geographical area.
- Digitalization also plays a role in building the face of the organization and establishes themselves outside the national boundaries
- Digitalization is used in every aspect of the business such as manufacturing, trade, communication with customers and helps in better utilization of the resources.
Digital Marketing Channels
There are various modern day digital marketing channels that are used to reach customers such as emails, websites, mobile phones, digital televisions, digital outdoors, and online groups. It has been broadly differentiated into content-based channels and digital devices.
To make it much simpler and for a better understanding of digital marketing channels content based platforms contain search engine marketing, emails, social networking sites, online groups, and others. Digital devices include computers, mobile phones, digital televisions, and others.
Traditional Marketing vs Digital Marketing
Marketing is the process of identifying the needs of customers and producing products according to them and delivering the products at a profit. This can be done through both traditional ways as well as through digital means. Traditional marketing refers to the physical delivery of products once after manufacturing to the retail stores nearest to the customers.
To make customers buy the product traditional marketing uses various ways of communication such as newspapers, billboards, print ads, and maximizes. Digital marketing is through which marketing the products using the technology, internet, mobile phones, or some other digital format are used in digital marketing. It also incorporates mediums such as social media, emails, blogs, pop-ups, and websites. . Traditional marketing offers a very minimum customer engagement whereas digital marketing provides improved customer communication. . Making a purchase decision in traditional marketing is a complex task as the customers have to go through various advertisements and take advice from others and believe in word of mouth to decide whether to purchase the product or not. In digital methods, consumers can view, read online reviews, compare characteristics, price on the various websites and interact with other customers through online sites, and make a purchase decision.
Online Shoppers in India
Customers who shop online using digital devices is raising
Understanding Indian consumers
- Young customers. The average age of the Indian consumer is less than 30 this provides the opportunity for marketers to focus more on young consumers
- Materialistic. Indian consumers are materialistic and they focus more on the tangible material object rather than the intangible value of the product.
- Networked consumers. Indian consumers are more networked than ever before with other customers
- Price sensitive. Indian market is very price sensitive whatever may the benefits offered price plays an important role in the Indian market
- Switchers. Indian consumers are more of brand switchers they usually not prefer to depend more on a single product or brand rather they change the brand that they use.
- Diversified. Indian consumers are more diversified than any other country in the world. Marketers can produce a different kind of products for the mass
- Rising purchasing power. The purchasing power of Indian customers is intensifying. The market for extravagant products is slowly growing in the country.
Buying behavior emphasizes individual consumers, groups, organizations. Choose, purchase, consume, and dispose of products and services to fulfill their needs and wants. It concentrates on how the consumer makes purchase decisions.
Buying behavior does not only understand the behavior of customers before purchasing and consuming but also to understand after consumption.
Some of the key insights that were gained during the research study were
The younger generation people are more favorable towards online shopping of apparels. Younger generation people are those who follow the latest trends and fashion.
The students and employed class prefer to shop online when compared to other class of people. Especially bachelors before marriage engage more in online shopping.
An individual on average spends about 5 hours or more using different sites on the internet
It is a convenience that makes customers shop online. The convenience factors are 24/7 accessibility, no traveling to purchase, and many more.
With convenience, the price also impacts customers to shop online. The price factors that affect customers are lower prices offered by online stores and no distribution cost involved in the price.
The majority of the people think convenience offered to them before thinking of offers and discounts offered to them.
People are still in the dilemma of whether to believe or not the information provided by digital marketers while shopping online.
People go with suggestions and opinions provided in different online shopping applications to gather information before purchase.
Reference groups such as family and friends influence more in the decision making of purchase on online platforms
Most of the consumer suggests that it is easier to gather information in digital platforms rather than traditional medium.
People are still in confusion whether the information provided by them on online platforms is safe or not while purchasing online.
Most of the customers are satisfied with online shopping.
As a nature of consumer behavior to look out for more options. People visit different online stores before actual purchase.
Though there is an increase in digital medium consumers still prefer to pay cash only after delivery.
The amount spent on purchase is dependent on the monthly income of the consumers
Age does not impact the level of satisfaction of the consumers
The frequency of purchase is not affected by the age of the consumers