Midas News Letter
June 2014 - Volume 001.
Transformation of Digital Marketing
Transformation from conventional marketing to digital marketing is not something new. It is changes on how people use technology for marketing and how those technologies give impact to human. Some of the channels used in conventional marketing are TV commercial (TVC), print ads and physical billboard, TVC are normally very expensive and normally cannot be afforded by SMEs. Conventional marketing is not applicable to products that heavily involved with online transaction.
On the other hand digital marketing
is a good platform because of its online coverage. Most people think that digital marketing only covers social media advertising but there is also “typo” based advertising.
Digital marketing is affordable and they can reach targeted potential customers
according to their intents, interests, geographical areas and demographic segmentations. Through this platform advertisers can manage their own content freely. It leads to mutual interaction between advertisers and customers.
There are pros and cons of using social media as a marketing platform. Social media may cause companies to lose some control of the marketing effort. Social media is a free medium, people can post anything. Negative comment or feedback can be a viral within a second. The chance to succeed is high. However the risk to fail is also high. Besides, there are so many advertisers in the same industries. Besides, social media may push advertisements that are in a same industry together, making it difficult for potential customers to differentiate each advertiser’s distinctly.
“Typo” based advertising
is another digital marketing platform. It called MIDAS. MIDAS was launched in 2013 to give more opportunities to do digital marketing. MIDAS advertising is a ‘Page Not Found’. This ‘Page Not Found’ comes from invalid domain and expired domains mistyped by Telco subscribers in their browsers. Study from US (Kane and Wobbrock 2007, Gruden et al. 1983) concludes that there is about 1 to 2 per cent people make typo mistakes in a day. Because of this, MIDAS gets more than 300 000 views per day. This volume helps to increase brand awareness
. Apart from that, users can experience MIDAS by clicking expired link or expired videos from Google search results, Facebook, You Tube and other online medium. MIDAS is the best opportunity for businesses to have additional marketing platform to increase impact from digital advertising.
Traditional marketing is a rather broad category that incorporates many forms of
advertising and marketing. It's the most recognizable typse of marketing, encompassing
the advertisements that we see and hear every day. Most traditional marketing strategies
fall under one of four categories: print, broadcast, direct mail, and telephone.
Print marketing is the oldest form of traditional marketing. Loosely defined as
advertising in paper form, this strategy has been in use since ancient times, when
Egyptians created sales messages and wall posters on papyrus. Today, print marketing
usually refers to advertising space in newspapers, magazines, newsletters, and other
printed materials intended for distribution.
Broadcast marketing includes television and radio advertisements. Radio broadcasts
have been around since the 1900s, and the first commercial broadcast—a radio program
supported by on-air advertisements—aired on November 2, 1920. Television, the next
step in entertainment technology, was quicker to adopt advertising, with less than
ten years between its inception and the first television commercial in 1941.
Direct mail marketing uses printed material like postcards, brochures, letters,
catalogs, and fliers sent through postal mail to attract consumers. One of the
earliest and most well-known examples of direct mail is the Sears Catalog, which
was first mailed to consumers in 1888.
Finally, telephone marketing, or telemarketing, is the practice of delivering sales
messages over the phone to convince consumers to buy a product or service. This form
of marketing has become somewhat controversial in the modern age, with many telemarketers
using aggressive sales tactics. The U.S. federal government has passed strict laws
governing the use of telemarketing to combat some of these techniques.
Digital marketing is marketing that makes use of electronic devices (computers)
such as personal computers, smartphones, cellphones, tablets and game consoles to
engage with stakeholders. Digital marketing applies technologies or platforms such
as websites, e-mail, apps (classic and mobile) and social networks.
Social Media Marketing is a component of digital marketing. Many organizations use
a combination of traditional and digital marketing channels.
Targeted advertising is a type of advertising whereby advertisements are placed
so as to reach consumers based on various traits such as demographics, psychographics,
behavioral variables (such as product purchase history), and firmographics ... or other
second-order activities which serve as a proxy for these traits.
Most targeted new media advertising currently uses second-order proxies for targeting,
such as tracking online or mobile web activities of consumers, associating historical
webpage consumer demographics with new consumer web page access, using a search word as
the basis for implied interest, or contextual advertising.
Addressable advertising systems serve ads directly based on demographic, psychographic,
or behavioral attributes associated with the consumer(s) exposed to the ad. These systems
are always digital and must be addressable in that the end point which serves the ad
(set-top box, website, or digital sign) must be capable of rendering an ad independently
of any other end points based on consumer attributes specific to that end point at the
time the ad is served. Addressable advertising systems therefore must use consumer traits
associated with the end points as the basis for selecting and serving ads.
Brand awareness is the extent to which a brand is recognized by potential customers, and
is correctly associated with a particular product. Expressed usually as a percentage of
the target market, brand awareness is the primary goal of advertising in the early months
or years of a product's introduction.
Brand awareness is related to the functions of brand identities in consumers’ memory and
can be reflected by how well the consumers can identify the brand under various conditions.
Brand awareness includes brand recognition and brand recall performance. Brand recognition
refers to the ability of the consumers to correctly differentiate the brand they previously
have been exposed to. This does not necessarily require that the consumers identify the brand
name. Instead, it often means that consumers can response to a certain brand after viewing
its visual packaging images. Brand recall refers to the ability of the consumers to correctly
generate and retrieve the brand in their memory.
A brand name that is well known to the great majority of households is also called a household name.