Digital media is the part of advertising that uses digital and web based technologies like desktop computers, hand held electronic devices, cellular phones, and many other media and platforms for marketing purposes. Its development in the late 1990s and early 2000s changed the way companies and brands utilize technology for promoting their products and services. Flexibility in using tools that enhance the business and create brand loyalty is what is being offered by this marketing strategy. The key performance indicators that one should consider when evaluating digital media performance include: engagement, response, conversion, revenue, return on investment, cost of service, cost and schedule of change, and competitive performance. These are just some of the factors that make digital marketing important in today’s market.
Engagement is a measure of the total number of people who have accessed a website over a period of time. The higher the engagement level, the more popular and well recognized the brand. Response is a measurement of actual visitors to the site from search engines and social media. It is also considered part of the quality score used in measuring ROI (Return on Investment) for digital media platforms. Conversion is a measurable action that conveys a consumer’s impression of a brand or product.
Ad Response is measured with respect to the amount of time consumers spend on a web page when they are viewing content or ads. Ad response rates can be calculated with a simple equation such as conversion = (number of seconds per ad divided by number of views). This ratio tells advertisers how successful a campaign is. Revenue is the total amount of money generated from the revenue of ads displayed on digital platforms.
Content marketing has become an integral part of any advertising strategy. Digital media is very flexible in the type and range of content it can accommodate. It can be used for news, information, entertainment, real-world data, current affairs, sports and much more. The more flexible the content, the better it will perform in the market.
Social Media is a platform that has affected Digital Media in many ways. With more consumers being connected to the internet through their smartphones, it is easy to see why Social Media has become such an important part of the strategy. In a world where everyone is busy, social media allows companies to reach consumers when they are not busy. Using location-based services like Instinct for Social Ads, marketers can reach consumers at the right time in their lives through their mobile devices.
Digital Media is the most effective way to reach the youngest and largest demographic. Through a combination of content, entertainment and social networks, brands can connect with new audiences. Brands that understand the importance of content can appeal to a younger audience and gain new fans. Consumers can turn to their trusted media outlets for advice on everything from entertainment to local events. Digital Media is creating an impact that will last for years to come.