What is a Digital Marketing Platform?
The term “digital marketing platform” refers to a software application that enables users to do a variety of tasks related to the practise of marketing over the internet. Platforms for digital marketing are enjoying ever-increasing levels of success. It is vital to keep in mind, according to the research conducted by Gartner, that in order for a solution to qualify as a digital marketing platform, it cannot make the claim that it supports all part of digital marketing. This is one of the requirements that must be met. Instead, the solution needs to include functionalities like brand tracking, performance evaluation and optimization, and media buying. On the other hand, it’s likely that it doesn’t cover other forms of marketing, including search engine optimization or social media.
According to Gartner, digital marketing platforms in the context of current business are characterised as solutions that give multiple capabilities connected to either business or technology. This is stated in the context of the company’s definition of digital marketing platforms. Platforms are designed to support many marketing tasks across a wide variety of business needs, whereas tools are designed to address specific functions within a single company need, such as a tool designed specifically to schedule social media updates. However, there are tools designed to address specific functions within a single company need. Platforms for digital marketing often provide a comprehensive set of various functions all at once by utilising application programming interfaces (APIs), integrations, and collaborations with other software or data sources. This allows for the platforms to work together to create a single, unified experience for users.
What is the Importance of Digital Marketing?
Since 2015, marketing professionals have reported spending a gradually increasing proportion of their budgets on digital marketing strategies, while simultaneously lowering expenditure on traditional marketing sources. This demonstrates that digital marketing is on the rise and gaining popularity at a rapid rate. This is because consumers are becoming more present on online platforms, offering businesses with a greater number of opportunities to contact their potential clients all day, every day. Another reason for this is that consumers are becoming more aware of the benefits of using online platforms.
Platforms for digital marketing have developed as absolutely required components of the digital marketing business due to the increasing prevalence of technology applications. Technology advancements such as artificial intelligence and machine learning give marketers improved access to the marketing technology they require to reach customers on digital devices at precisely the right moment. This is in contrast to traditional marketing methods, which require extensive planning and placement a significant amount of time in advance. Websites and applications like Facebook, Instagram, and Tik Tok, in addition to blogs, have totally monopolised the field of digital marketing since their introduction.
Consider the following:
- The world has 7.9billion people and 5.03 billion of those people use the internet regularly
- This means that 63% of the world’s entire population can be reached online via digital marketing
- Nearly 30 percent of consumers would rather interact with brands online, via social channels, versus going to a store.
It is necessary for companies to keep a presence across a diverse range of digital platforms and hardware if they wish to continue to be competitive in their respective industries. On the other hand, this does not suggest that offline channels should be ignored entirely in any way shape or form. Establishing an omnichannel presence, which brings together offline and online components, is the most successful strategy for addressing the expectations of customers, and it is also the name of that strategy.
Incorporating digital platforms into your business operations can provide your organisation a number of additional benefits, including the following:
- You can build an online community to represent your organization across all platforms.
- 45% of consumers prefer to purchase online, then pick up in a store – meaning their buying decisions come primarily from a business’ digital presence.
- Digital marketing allows for personalized exchanges between consumers and producers. These personalized exchanges make customers feel heard and understood by a business, which ultimately increases online revenue.
- An online presence, particularly across social media platforms, increases appeal for consumers and establishes trust between buyers and sellers.
- The use of APIs allows a 3rd party to facilitate the exchange for users.
With the assistance of digital marketing initiatives, your business will be able to establish a programme that is more united and client-focused, which will enable you to deliver the maximum amount of value that is practically possible to your consumers. The use of digital marketing platforms can also be beneficial because they make it simple to monitor and adjust corporate goals, and they can also bring you a greater return on your investment. Both of these benefits are a result of the fact that digital marketing platforms are becoming increasingly widespread.
These platforms and initiatives provide the opportunity for continued interaction even after a purchase has been completed. This can assist marketing teams in cultivating brand loyalty and boosting client retention in a manner that is more effective and efficient.