SALES & MARKETING IN THE ERA OF DIGITAL

MARKETING

LET’S GO TO SCHOOL Purchase FunnelAwareness – the customer is aware of the existence of a

product or serviceInterest – actively expressing an interest in a product groupDesire – aspiring to a particular brand or productAction – taking the next step towards purchasing the chosen

product

COME BACK TO 2017

SO WHAT TO DO NOW? Integrate digital marketing into marketing for better ROI Allocate separate Digital Marketing budget annually Setup sales & marketing goals (for digital marketing) Compare digital ROI with overall ROI Analyze and repeat the cycle, and

Enjoy better market share

DEFINING DIGITAL MARKETING BUDGET

Some stats to help you – In 2016, the average firm was expected to allocate 30% of their marketing budget to

online, SEM will capture the largest share, this rate is expected to grow to 35% by 2019

In 2014, 29% of a marketing budget was allocated to online/digital channels

In 2014, SEO & SEM captured the largest share of online spend at 47% or about 14% of the firm’s total marketing budget

For US retail marketers the ROI was 76% from Digital while offline channels resulted in only 24% ROI

DEFINING DIGITAL MARKETING BUDGET

SO WHAT TO DO?

Based on the industry you are in allocate budget

Don’t forget your marketing goal and match channel effectiveness

Use budget calculator http://www.webstrategiesinc.com/calculator

SETTING UP GOALS & TIMELINES

Look at your last year stats (cost of marketing & results)

Set goals in proportion to previous year’s stats

Minimum 20% of overall sales* should come from digital to keep ROI positive, if you are allocating 20% of your overall marketing budget to digital

Digital targets should be realigned every quarter because of dynamic nature of the industry

All results should not be compared to overall sales, as results from Digital Marketing is based on the strategy followed to achieve a specific goal

DIGITAL MARKETING INTO SALES & MARKETING

Digital marketing can be used to drive sales

Few digital marketing tools can be used as an extension to CRM

Digital marketing can help in boosting overall marketing results

Digital marketing is the most effective for branding

INDIAN BRANDS LEVERAGING DIGITAL MARKETING

Dell – Started using social media for Customer Service

ICICI – Started using Twitter to solve Customer Complaints

Kotak Mahindra Bank – Using digital marketing for Branding

This was just a glimpse of early acceptors of digital marketing, today no brand is away from using digital marketing. If you are one of them who is still not implementing, you need to do it right away.

THANK YOU FOR PATIENCE, COME FORWARD WITH QUERIES.

References: http://www.webstrategiesinc.com/blog/how-much-budget-for-online-marketing-in-2014 https://www.forrester.com/report/US+Digital+Marketing+Forecast+2014+To+2019/-/E-RES1

16965