What is digital marketing and why is it so popular?
There are very good job opportunities in digital marketing, giving young people a chance to put their computer and social media skills to productive use.
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What is digital marketing and why is it so popular?
A career in digital marketing is one of the most promising careers to be in today. In fact, it has so much opportunity; companies in Thailand are struggling to find “Digital Marketers” in top companies as a result of Thailand not having enough talent.
But why is digital marketing so popular in many countries including Thailand? Because we now live in a world where our attention and time is spent within a device. A device would be your phone, computer or tablet. Devices have become a very important part of our lives where we:
1. Conduct our work
2. Communicate with our friends/family and,
3. Putting our attention to content on our phones and computers..
But, what is digital marketing?
Digital marketing is the act of using digital mediums such as Facebook pages, Google search results and content for businesses to reach their current or prospective customers. Basically, the act of businesses promoting themselves online.
Why is Digital Marketing so Popular?
The basics of online marketing can start with the 4Ps:
The place to be for many advertisers now is online because that is where the audience is.
(The 4Ps is a framework to help plan a business’s product or service offering).
• Promotional Strategy
“Product” as in what product or service are you selling;
“Price” as in what price are you selling the product or service for;
“Promotional Strategy” as in what is the best way to communicate the benefits of your product or service to your customers and;
“Place” as in what is the best channel to distribute your product or service to reach your customers.
Digital Marketing is popular and growing because businesses have identified that “Place” or the best channel to distribute their product or service, is online. Spending on digital advertising continues to grow every year. Digital advertising spending in Thailand increased by 17% in 2016 to reach 9,477 million baht. It is forecasted that by the end of 2017 it will increase by 24%. Companies are seeing the value of advertising online because Thai’s are one of the most digitally active in Asia. If companies are to get in front of their customers, they need to do so digitally.
A few facts about Thai online consumers:
• There are 38 million active social media users (56% of the population in Thailand)
• 64% of Thailand’s population owns a smartphone
• Thai’s spend an average of 3 hours and 53 minutes on the Internet via their phones daily
The advantage of digital marketing vs. traditional marketing is big. Online marketing channels can consist of advertising on Google, Facebook or other websites. Traditional marketing channels could be advertising on billboards, newspapers, radio and magazines. Think about the BTS in Bangkok. You’ll notice a lot of banner or print advertising.
On the side of the train, inside the train, at the stations, on the TVs in each carriage. Businesses pay for advertising to reach the large number of people that travel using the BTS everyday. Which is fine, and is still a good way for some businesses to promote their product. The BTS most likely provide statistics of foot traffic through each station today to provide a guess as to how many people may see the advertising at each station and train. In fact there is no way to measure how many people actually looked or engaged with the advertising.
This means there is no way of proving a return on investment (ROI) with 100% accuracy. A positive ROI is the concept of getting more profit back then you invested. If you invest 100 Million THB in BTS adverts how do you know that those ads had any effect on your profit at all? You might see your business get busier and at the end of the month or you see an increase in revenue.
But do you know for sure that is because of your BTS adverts? The answer is no, we can only make logical guesses. This is why Digital Marketing is becoming so popular. With online marketing channels you can track and definitively measure how much return you get for your investment. This makes it very attractive for businesses in Thailand as they know the results for each Baht invested. If, as a business, I know that I can spend 1 million THB on online ads and I will receive 2 million THB in return. That is a good business decision!
No one needs to tell youngsters to start young with digital media.
Digital Marketing Opportunities for You?
As Thailand has a very high digital consumption, for example, a lot of us spend a large amount of time on our phones and computers. This compared to the amount of money companies in Thailand are spending on online platforms and channels, is a lot less. This means that there will be a lot more money invested in the digital landscape to catch up with consumption.
This means that there are also not enough digital marketing staff in Thailand to cover the current demand. Thai businesses are very aware of online marketing and are investing more year on year into online advertising.If you’re thinking about Digital Marketing as a career, there is a massive opportunity available.
To be qualified and attractive to companies looking to hire digital marketing staff you’re looking to not only have the basics with using a computer such as MS Office, but also to be familiar with some of the most used and basic tools related to digital marketing.
A great place to start would be to start your own blog or your own website which we’ll cover in our next series.