Using the right digital marketing channels has become more important today than ever before. With an annual budget of nearly $365 billion, the global digital advertising industry has become one of the fastest-growing industries in the world. Thanks to low-cost internet plans, rising internet users, and the ever-increasing popularity of digital platforms worldwide.
Did you know that an average person gets over 1,700 banner ads per month but hardly sees half of them? Seriously, this is the reality of today’s emerging digital world. According to the latest analysis, digital advertising revenue is expected to reach $460 billion by 2024. While traditional marketing trends and channels do not necessarily apply to the current audience, it becomes crucial to encompass a well-though internet strategy and leverage the right digital marketing channels to address the right audience.
In this post, we will share seven types of digital marketing channels and how they benefit your business.
Understanding Digital Marketing Channels
In layman’s terms- Digital marketing channels are platforms that you can use to promote your services, products and deliver content to your targeted audience. These channels allow you to address your customers with any query about your services or products. It will take you a step closer to your marketing goals.
Remember, not all digital marketing channels are suitable for your business objectives. Every channel serves a specific type of audience. So, it is essential to know which digital marketing channels will suit your objectives and help accomplish your goals.
Let’s check some famous digital marketing channels and how they help!
1. Content Marketing
While we are talking about marketing & advertising, it becomes tough to go ahead without content. Content marketing is certainly one of the best indirect types of digital marketing. Top Rank Marketing CEO Lee Odden said, “Content is the reason search began in the first place.”
Content marketing comprises different forms of content. Blogs, videos, social media posts, e-books, brochures, infographics, case studies, templates, reviews are examples of popular types of content on the web.
This digital marketing channel helps you with customer engagement. Thus, interactive and engaging content should be the foundation of your campaign.
2. Search Engine Optimization
SEO is one of the most popular types of digital marketing channels that never goes out of trend. It has been a buzzword among online marketers, and for a good reason – almost 90% of online activities start with a search lead by search engine optimization.
Did you know Google serves more than 6,300 searches every second? This figure clarifies that SEO has the potential to reach your targeted audience effectively. However, the biggest drawback of this channel is that it takes time since the search algorithms keep changing all the time.
Suppose you are partnering with a professional SEO company. In that case, it won’t be tough because the SEO benefits might vary from organic search, better online presence, and brand credibility, to name a few.
3. Social Media Marketing
As the name suggests, social media marketing is just about leveraging social media platforms to promote your business. Since social media channels have grown over the last decade, attracting millions of users, it is totally worth investing in them for valuable traffic.
“Social media advertising budgets have doubled worldwide, from $16 billion in 2014 to $31 billion in 2016.” let’s check how many people are there on these three most popular social media platforms:
- Facebook: 1.66 billion
- Twitter: 330 million
- Instagram: 500 million
Suggested read: Social Media Metrics And Tips To Track Them Properly
Facebook remains the number one social media channel, attracting almost every type of audience. Social media marketing helps your business by providing two-way communication between you and your customers. Besides communication, it’s a better place to engage and attract your potential audience. You may follow our blog to get more views on your Instagram stories.
4. Pay-Per-Click Advertising
Pay-per-click, also known as PPC, is one of the most popular digital marketing channels in the world. “Small businesses that use Google Ads spend between $9,000 and $10,000 per month on PPC.” These types of businesses spend over 1.5 billion in PPC on Google.
However, we must say that it is an expensive strategy to be implemented. The average cost of a click is around $1-2, but it majorly depends on your industry and the keywords you are targeting.
The average PPC conversion rate across all industries is around 3.5% making it a worthy digital marketing channel for all industries.
5. Affiliate Marketing
In today’s emerging digital world, affiliate marketing seems to be one of the most lucrative types of digital marketing channels. This is one of the highest-earning online jobs these days, attracting a large audience. It simply involves partnering with online retailers to sell your products or services. They get a commission for every sale or lead you bring in. You can do it in any way, but the two most popular ways of doing this are:
- Offering lucrative discounts, redeem codes to the audience
- Linking your products or services to their website content
Whenever a user makes a purchase using your link, you get some commission. The most popular affiliate networks are Amazon Associates, eBay, and Shopify. It’s a win-win in most cases, but there are some drawbacks as well.
If you choose to do affiliate marketing for top affiliate networks like Amazon Associates, you have to compete with thousands of leading businesses. Also, you have to be bound by the rates set by Amazon. On the other hand, if you establish your own affiliate program, you will have more control.
6. Email Marketing
This remains one of the most popular types of digital marketing channels. Here is a statement that shows its effectiveness:
“HubSpot even estimates that the average ROI for email marketing is $38 for every dollar you spend – a whopping 3,800% return for something as simple as email.”
It is an excellent way to promote your products and services, build relationships, inspire consumers and gain valuable feedback from them.
7. Video Marketing
“In 2020, 92% of marketers say that video is an important part of their marketing strategy.” Videos can be used as an effective marketing tool. However, the most important role here is content.
Using video marketing, you can promote your business, increase traffic to your website, encourage engagement, and even go viral with viral marketing.
So, you see how these digital marketing channels can make a change in your current marketing strategy. While all are beneficial for your business, each of these has its drawback if not implemented strategically. Thus, you better consult with the digital marketing experts.