One of the most clichÃ©d statements of today's time is 'Everything is just a click away!' And it is hard to deny it too! Right from online shopping to transfer of funds, all it needs is a digitally sound mind which is free of any stigma. The once 'visit and stand in a queue for your turn' Banking exercise has also taken the digital route with customers choosing how and when do they want to interact with their Bank. While the consumers are all set to embrace the digital world and make their Banking experience hassle free, it is worth asking how prepared are the financial institutions and the other businesses to bring in this change?
"I was talking a stroll in the market when I got a text which had a 30% discount coupon of a restaurant that was just a block away! Although I didn't have any plans to visit the restaurant, but I ended up eating at the restaurant due to that coupon!"
In an age where dining out and shopping destinations are decided as much by online discount coupons as they are by quality, the businesses can ignore the need for a digital presence only at their own peril. For the businesses, catching the eye of the customer is the first step towards establishing a customer "“ brand relation. With people spending a major chunk of their time online on social media and on their mobile phones, these have become a new marketing medium with an ocean of scope. While some organizations have put their best step forward to cash in on the new interests of the X-Gen, it would be fair to say that by and large, the businesses are yet to discover the potential of digital marketing.
Since we all agree to the significance of digital marketing and there are no contradictions, wouldn't you expect the businesses to jump into it overnight and cash in before the pie has too many takers? Surprisingly, there are a number of limitations that the companies face while contemplating to venture into the digital marketing scene.
Ã¼ While some firms may site technical shortcomings as the major stumbling block, a number of other well financed companies seem to have issues in bringing their entire top leadership on board for these reforms and replace the age old tried and trusted marketing strategies. Lack of far sightedness is hurting the businesses majorly.
Ã¼ Firms have not been able to tap the potential of mobile channels as far. No dedicated team to look into digital marketing has brought about the downfall of a number of marketing strategies. Digital marketing is a tricky preposition. It has the potential to turn around your business in an unparalleled manner. The firms must understand and treat this accordingly.
Where do I begin?
Agreeing to the need and scope of digital marketing is probably the easiest step in the chain. The major challenge lying ahead is 'How to begin?' Without going into much detail, we would like to mention certain basic points that would help you get off the mark.
Ã¼ Ensure you are playing to your strengths. Ask yourself "“ What is your finest offering? And what do the customers want? Try and combine both the answers and you would reach the perfect beginning point.
Ã¼ Concentrate on the People. More than the process, the technology and the strategy - what is important is the people. Make sure your marketing strategies are people oriented. Do not wait for the customer to reach you. Instead, be present where the customer looks.