What is Digital Marketing?

Posted by on Nov 14, 2013 in FORECAST, Marketing, News, Technology

We are all probably familiar with Google Adwords.  Google broke into the market and gave businesses a way to reach their customers through specific keyword phrases that related to their services or product.  Business owners and marketing companies became savvy with Adwords and over time learned how to efficiently run campaigns, so they were pushing more traffic at a lower cost per conversation or CPA (cost per action) to their website.  The idea was completely new and helped build quite a few online stores and services, but over time, Google Adwords has become increasingly more complex.  What happens if you don’t update your negative keywords?  How do you determine your ROI?  How do I compare these results to other services that are available?  What other services are available?  The pace at which this industry is moving makes it almost impossible for a company to keep up with the changing trends and not knowing, is leading to money being spent in an ineffective way.  Because of these complexities and unknowns companies like Lake Effect  work hard to stay on top of the trends and offer detailed reports on Ad Spend and the return that our customers see on a monthly basis.

Google Adwords is not the only digital marketing service that is available today.  The Web has evolved into a dynamic marketing service, that has millions of opportunities for businesses to reach out to their customers.  The first step is establishing a strategy.  To effectively market online, you have to establish some goals and map out a plan, without doing this you are just throwing money into a black hole.  Now that you have established some goals for your marketing you need to select the services that will work best for you to achieve these goals.  This usually happens by selecting a mix of services like Adwords, display advertisingretargeting and Artificial Intelligence Marketing.  Display Advertising are the ads that you see on the sides of the websites that you frequently visit, Retargeting happens after a prospective customer visits your site and then leaves, you can retarget them later by serving them an ad that reminds them of who you are and Artificial Intelligence is the new kid on the block and is sometimes referred to as “Big Data”.  AI is a dynamic service that allows you to choose keywords and profiles you would like to target online and then the system goes out and finds these types of users and targets them with an ad about your company.  If the user clicks on that ad and makes a purchase or action, the algorithm updates and goes back out to target more people like the one that just made the purchase.  Most of these algorithms process 100′s of millions of web impressions a day, so the information is specific, accurate and the most influential  to companies trying to identify specific customers.

Digital Marketing is s science that changes daily and Lake Effect is keeping up with all of the changing trends, so our clients have the best information available to make decisions.  We also do not tie our clients into long term contracts.  This allows everyone to be agile enough to change course if you need to adapt to a new trend.