Monthly Meeting was held at New Courts President on 24th January 2020 at 7:30 pm onwards.
Around 50 members attended this meeting.
Agenda of this meeting was DIGITAL MARKETING.
In this meeting, Keynote Speakers were: Dr. Sandeep Vij, Head Consultancy Cell, DAV University, Jalandhar. Dr. Girish Taneja, Assistant Professor, Dept of Commerce & Business Management, DAV University, Jalandhar.
As per our custom, Guests were asked for flowering Bharat Mata’s picture, Floral welcome was given to both before asked to be seated on Dias.
LUB Jal unit President, thanks today’s keynote speakers for their time and to guide our unit members on Digital Makerting.
Dr. Sandeep Vij said Digital marketing is the Marketing/ Promotion of Business, Products or Services using digital technologies on the Internet, through mobile phone apps, displaying advertisement or any other digital mediums. Digital marketing channels are systems based on the Internet that can create, accelerate and transmit product value from manufacturer to a consumer, through digital networks. It is a way of creating awareness and trust about brand or product/service through digital or electronic devices. Moreover, these are not restricted to just online marketing channels, in fact offline marketing channels like TV, radio and electronic billboards plays a major role in digital marketing even today.
The reason why digital marketing is crucial for a business today is that the Internet is becoming one of the most used tools in the world. More and more people are logging on the web to carry out their day to day activities, which includes purchasing goods and services. Another reason is its inbound marketing, which means instead of going out in the market, one can find out manufacturer through ads running on Google or going to the business sites, marketing blogs. DM is all about attracting target audience and spreading brand awareness.
There are two types of DM, online digital marketing and offline digital marketing to communicate our business messages. While online marketing includes SEO, PPC, social media, email, mobile and viral marketing whereas offline marketing includes Radio, TV and electronic billboard communication. SEO stands for search engine optimization and it is the science and art of getting web-pages to rank higher in SERPs (search engine results page).PPC(Pay-per-click) marketing deals with paid search results on Google and involves bidding on specific keywords that will garner the most web traffic for you. Social media marketing is the use of social media platforms so as to connect with your audience and build the brand image. Mobile marketing is a way of marketing through SMS.
Benefits of Digital Marketing:
1) Higher level of Customer Engagement
Digital marketing offers a higher level of engagement and interaction through social media comments or emails messages thereby keeping the target audience instantly connected with. Brands can also easily build better and long-lasting relationships with customers by interacting with them via video, surveys or webinars and even one can solve their issues without wasting time.
2) Ease of measuring results
When we give away brochures or advertise in magazines, we don’t know how far our marketing is going to be successful or sometimes, we may be heading in the wrong direction but there’s no way to find out. Unlike traditional marketing, digital marketing lets us measure results. It allows us to play a clear-sighted marketing game, rather than a blind one.
3) Bigger Audience Range
One can reach out to a large number of people regardless of their geographic location. For example, through Facebook, we can reach someone who lives a couple of blocks away or a continent away too.
4) Less Expensive & More Effective
When it comes to spending money on marketing, our return on investment decides whether our campaign was successful or not. There’s no surprise that digital marketing fetches a better rate of interest because it’s cheaper than traditional marketing, for example, it is generally seen if we advertise in print media or electronic media or both we have to pay hefty amount to this which results in higher expenditure and also sometimes this ad is hardly seen/ noticed by public and we are not aware of what impact it made on public’s mind where digital marketing allows you to spend less while gaining more.
DM offers businesses one major edge over traditional marketing methods like print that are quickly becoming a thing of the past. With the former, we can gauge customer reaction, evaluate campaign reach and effectiveness, collect and analyse customer’s feedback. We can control everything, right from the audience/customer demographic, our campaign targets to the exact time frame for which an advertisement is displayed.
Dr. Girish Taneja also shared his views. He said anything which helps in making/ adding the brand image is marketing and this can be verbal too like telephonic marketing, marketing by sales executives/ agents by movie recorders in tabs or by u tube videos.
He guided our members how can we craft an Effective Digital Marketing Strategy. It is generally seen, many businesses shy away from including digital marketing in their overall advertising/brand promotion efforts because they do not know what they can achieve with it, where to start or how far to go with it. To start with, one can simply plan with it’s goals or objectives he would like to reach, the budget he can spare for various marketing efforts, the customer demographic to be reached, market research requirements, possible digital marketing services he will need and so forth.
Knowing the kind of results, long term or short term, each digital marketing category can bring in resulting into focused targets with minimum wastage of time and efforts covering wider business areas and maximum reach to the consumers in this competitive world. To simplify the entire process, it is highly recommend to answer the five important questions of why, where, when, how and what, i.e. why do we want to employ digital marketing, how do we hope to achieve our goals, when and where do we want to strike and what demographics are we targeting. Once done, we should sit down with our top management and decide if we would like to hire an in-house digital marketing team or outsource it, who are well-versed with the company’s mission and vision.
For this, you need to have an exhaustive and in-depth knowledge of your business and your target customers. You need to conduct a study to see how each method may affect or does not prefer digital media, then you may do better with traditional methods. But if your target audience is permanently connected to the internet, you’ll need to stick with digital.
However, industry experts are of the opinion that importance of both the methods cannot be ignored. Before one proceeds for any, we must have in depth knowledge of our business and customers. Proper study should be conducted to see how business can get maximum benefits with minimum expenditure, time and covering maximum audience. But if we notice our customers/ audience doesn’t prefer digital media then its better to follow traditional method and if audience is permanently connected to this internet then we need to stick with digital marketing. Now how much we need to spend on traditional and digital methods will depend on several factors of our business.
ADV. ARVIND DHUMAL,
President, Laghu Udyog Bharti – Punjab.
Monthly Meeting of LUB Jalandhar Unit: Photos