JATIYA KABI KAZI NAZRUL ISLAM UNIVERSITY

TRISHAL, MYMENSING

Course Tittle: Principles of Marketing

Course Code: MGT-2106
Date: 10/11/2021

Assignment of Principles of Marketing:

Online marketing strategy: Challenges and prospects

Submitted to:
MOHAMMAD TORIQUL ISLAM JONY,
Assistant professor, Department of management

Submitted by:
MD MAHIN ABDULLAH
Roll number: 20134145
Registration number: 9633
Session: 2019-2020
Department of management
Digital marketing is the promotion of goods or services using
digital technologies, primarily on the Internet, but also includes
cell phones, advertisement displays, and any other digital
media. The growth of digital marketing since the 1990s and
2000s has changed the way brands and companies use
marketing technologies.

The fastest growing media outlet for advertising is the Internet.

Compared to spending in other media, the rate of spending for
Internet advertising is experiencing tremendous growth.
However, total spending for Internet advertising remains
relatively small compared to other media. Yet, while Internet
advertising is still a small player, its influence continues to
expand every year major marketers shift a larger portion of
their promotional budget to this medium. Two key reasons for
this shift rest with the Internet’s ability to: 1) narrowly target
an advertising message and 2) track user response to the
advertiser’s message. The Internet offers many advertising
options with messages delivered through websites or by email.

Prospects and possibilities of digital marketing:

With advanced growth in marketing technology, businesses are

seeking to sustain their revenue stream either by adding online
components to their brick-and-mortar stores or by merging
numerous digital marketing strategies to enter the lucrative
online marketplace.

As most consumers now use smartphones and research

products online before they make purchases, it has become
crucial for these businesses to have digital marketing plans in
place to reach their respective target audiences. However,
smartphones and online analysis are not the only reasons why
businesses across the globe have turned to digital marketing.
They are using these strategies to more effectively target
audiences online. Many are seeing a significant return on
investment (ROI).

1.Effective Audience Targeting:

With digital marketing, marketers can use data more effectively
to target consumers based on factors such as gender, age,
place, interest, and education, and can reach potential
customers who are already familiar with their brand using
different approaches and messages for each audience segment.
Advanced online marketing certifications are available to help
digital marketers master this craft.
2.Small Investment, High Revenue:
The cost per lead for digital or inbound marketing is 61%
cheaper than conventional marketing. Businesses that advertise
on social media, use paid searches and other marketing tactics
spend significantly less on their promotions, largely because
they use pay-per-click (PPC) strategies to keep costs down and
keep their particular audiences up to date. Usually, their ROI is
not only higher but more immediate.

3.Reaching Mobile Users:

There are more than 10.01 billion mobile connections
worldwide, which is more than the world’s population. And at
the end of April 2020, the number of mobile subscribers in
Bangladesh reached 162.920 million, according to the data
provided by BTRC.

Because most of today’s smartphones have internet access, it is

easier than ever for businesses to reach potential customers
anywhere, anytime.
Online marketing Challenges:

Online marketing, also known as internet marketing, uses

interactive, virtual spaces to advertise and sell goods and
services. Additionally, modern internet-based, synchronous
networking technologies have contributed to the
transformation of major economic industries such as
marketing. Being cost-effective, fast and enjoying an incredible
global scope, internet marketing has yielded tremendous gains
for various businesses. This impactful, new approach, however,
also includes its particular difficulties, e.g., lack of face-to - face
contact, privacy, and security, etc. that should be considered as
part of this.

1 Problem of integrity
2 Lack of face-to-face contact
3 Security and Privacy
4 Lack of trust
Other challenges include:

1. Not getting lost in the volume:

The digital world is booming, and almost every business out
there has taken its products/services online to reach out to the
masses. According to a report by Experian, most marketers are
now facing the challenge of making their brand stand out in the
volumes available on the internet. This eventually leads to the
difficulty of running a brand awareness campaign or acquiring
new customers.

2. Driving relevant traffic to the website:

Continuing on the point above, marketers today are
consistently facing a challenge in spreading brand awareness in
the right target market. This also makes it harder for them to
drive the ideal traffic to their business websites. Therefore,
understanding which channel to tap into and driving the
relevant audience to your website to turn them into customers
is becoming an ongoing challenge for marketers.
3. Targeting the right audience effectively:
The first and foremost thing that an effective marketer would
do is identify their target audience in the market. With the
number of internet users increasing by the day and their needs
changing almost every second, targeting the right audience has
become one of the biggest challenges for marketers.

Keeping in mind what One’s business has to offer and what kind
of problems it would solve when put to use, create value
proposition. This helps identify who or what demographics
would resonate with it the most when targeted.

4. Lead generation using social media:

When it comes to the various social channels, most businesses
and marketers don’t know how to remain consistent. Most of
them feel that it is all about the paid campaigns they are
supposed to run for brand awareness and lead generation.
Although, both of them is a constant challenge with the ever-
increasing market competition.

Even though considerable marketing budgets are set aside by

businesses, most marketers cannot run their engagement into
revenue. But one mustn’t just build one’s social following –
he/she need to get conversions that add up to the overall
business goal.

5. Keeping up with the changing trends:

The digital market and marketing techniques have changed
drastically over the last few years. And it continues to change
even today to cater to the modern-day addressable market
needs. Hence, it is important for marketers to stay up-to-date
with all these changes.
Be it the launch of a new social media platform or a technology
that would make a marketing effort more robust, marketers
need to remain on top of things to ensure their business does
not lose out on possible conversions.

6. Optimizing marketing budgets and ROI:

With the increase of digital channels and advanced analytics
tools, marketers are now expected to optimize the marketing
budgets and the ROI to best suit the business’s needs. He is
expected to measure each effort and its value to achieve the
end goal – the number of leads generated or the revenue
raised.
7. A Check on Increased Security Risks:
We have come across cases wherein online security has been
compromised. The news and media keep it afresh. Since more
information is shared online, hackers get more incentives to
find ways to get through security. Shopping, bill payment,
application submission, order copies, certificates, and other
essential documents, and so much more are stored online for
easy access – making these spaces a treasure trove for hackers
and thieves. Venturing into digital marketing sure comes with
its cost of security getting compromised as most of the work
remains online. Security comes as a challenge.

8. Lesser Focus on Keywords:

Keywords were the bread and butter of SEO sometime in the
immediate past. One just needed to find the right keywords
and use them right, and one’s site could shoot up to the top in
the search results—helping one with more exposure and traffic.

Now Google has changed algorithms making the keywords less

critical. However, they are still to be used but are not the focus.
Instead, it has become a topical approach rather than seeking
and finding one, meaning that Google first gets an overall scope
of your website.

9. Effective Ad Copies for PPC Campaigns:

It is a different world now for the PPC ad campaigns. One’s copy
not only has to make sense but also has to stand out to be
noticed by the coveted ‘clickers.’

Marketing will continue changing, and there are many

challenges headed up a digital marketer’s way. It is the choice
of techniques and technology that will eventually determine
the success of all digital efforts.

Four types of marketing strategies:

Cause Marketing:
Cause marketing, also known as cause-related marketing, links
a company and its products and services to a social cause or
issue.
Relationship Marketing:
Relationship marketing focuses on customer retention and
satisfaction in order to enhance your relationships with existing
customers to increase loyalty.
Scarcity Marketing:
Scarcity marketing creates a perception of a shortage which
aims to entice customers to purchase out of fear that they may
not be able to get it in the future.
Undercover Marketing:
Undercover marketing, also known as stealth marketing,
involves marketing to consumers in a way that they do not
realize they are being marketed to.

some of the digital marketing tactics:

 Search Engine Optimization (SEO)

 Pay-Per-Click (PPC) Marketing
 Webinar Production
 Content Marketing (Blogging & Article Writing)
 Downloadable Content Offerings (eBooks, Whitepapers,
Webinars)
 Email Marketing
 Social Media Marketing
  Video Production
 Website Design A/B Testing
 Landing Page Strategy
 Call-To-Action Strategy
 Link Building/Earning
 Infographic Design
 Marketing Automation
 Lead Nurture Strategy
 Public Relations (PR)

Bottom Line:

Digital technology is slowly changing the fabric of our lives.

Whether it’s how we interact, what information people ingest,
or how they absorb information is constantly evolving. This
pattern is only likely to continue and develop in the future.
Product and service businesses are changing the way they use
the online channel and are engaging directly with their
customers. This is bound to grow.

In conclusion, there is no alternative to digital marketing in this

pacy world. Different businesses, including in our country, are
now offering high-quality customer care and establishing new
frontiers in the field of digital marketing.