This report aims to discuss the various facets of the utility of digital marketing and how it is effective for the survival of a renowned music company HMV. The marketing strategies of the company needs a big change due to reduced revenue as it has been losing the competitive advantages than its rivals (Hmv.com, 2018). Marketing is an act of connecting with the customers where the companies convince the customers for buying their products or subscribe to their offered services. Marketing whether digital or traditional, is essential key activity that all the business around the world must partake in because no trade can survive without an effective publicity or marketing (Arvidsson et al. 2014). Digital marketing however is carrying out actions by using any types of electronic media for promotion of goods and services. This is basically an internet based activity that the companies or brands use to sell the goods to their customers.
The world is living in a digital age where any company if thinks not to participate will abolish in no time. Millions of people spend most of their time searching the social networking as well as other digital platforms. This report discusses the important of digital marketing investment in the company, use search engine tactics, utilise various digital media platforms, methods to target key audiences, steps for designing various marketing campaign and finally describing the measuring toll for strategy success.
HMV needs to incorporate the digital marketing strategies to introduce new changes in their company and services. There are many reasons that can facilitate the company to gain competitive advantage in the market and gain popularity which HMV use to enjoy previously.
The companies operating in the current world needs to peruse the new technologies to help their businesses and find proper customers. The competitive companies like HMV which has a brilliant brand awareness in the international market need to take advantages of every tactics of search engines. Most efficient techniques are being changed as the search engines change or adjust algorithms (Kang, Tang and Fiore 2014). these search engines use complex programs that ensure that the visitors get worthwhile and reliable content. This is the reason why most of the renowned digital marketers utilise search Engine Marketing strategies for improving their website visibility amongst their competitors in one hand and gain more customers for their business.
Steps to design effective online display:
Steps to design effective PPC: goal setting and choosing effective platform is essential for designing efficient PPC also. Beside these, the company must allow these following steps.
Targeting the market audience is mandatory of the companies applying for the digital marketing strategies. For doing so, the company can display advertises in their websites. The people who will browse internet even casually, will be served display advertises regularly. HMV can convey such marketing message in variety of forms which may include image, banner ads, texts, video overlays, and flash displays (Järvinen and Karjaluoto 2015). Online marketers constantly try to deliver their right messages at the right time so that they can reach most number of web surfers. Displaying advertises in the websites, is all about reach explicit demographic segments where the marketers gain knowledge about the audience preference so that they can identify that specific segment and target to reach them.
Google’s Audience Solutions offers an incredible opportunity for identifying as well as targeting the audience as it creates scopes for the companies to complete control over broad targeting, frequency of marketing messages communicated and methods of spending money in the process. To begin the process of targeting audience the company’s advertisers can start by properly understanding as well as analysing the current set of site visitors that they can do by leveraging remarketing (Doric, Primorac and Kozina 2016). It is a method of showing ads to the people who visited HMV’s site already and going to other sites which are included in Google Display Network. This method allows advertisers to collect data about the popular websites included in Google Display Network.
With the growing importance of the content for commercial success online, the content requirements a strategy for ensuring that it supports marketing. There are several steps how the company will be beneficial by using content marketing strategies. First, content marketing will help the company to build trust (Medina, Coelho and Bellido-Pérez 2017). HMV can create and publish quality content, relevant in the field of their business which will ultimately help them to build greater cohesion with the public. More cohesive and quality content is created for feeding public, more the company will have expertise and popularity.
Secondly, the company has a power of an established brand which they may utilize in influencing their business decisions of buying public. Content marketing highlights unique identity of the brand. Thus the strategy can use viral contents such as videos, blog posts, pop trends and audio. The company will have a unique voice for their business that will resonate with their target audience which the company aims to serve.
Thirdly, for HMV it is essential to use the digital medium through search engines which may change their business landscape. As the buyers no a day have become researchers, they do not purchase or avail any service without studying about the product or service before making purchase (Levy and Gvili 2015). These people basically conduct researches in search engine. Therefore, the content written about the service must weigh heavily so that the people get convinced.
Fourthly, the content marketing identifies potential buyers and attracts them as this type of marketing effectively levels the playing field the business of the company. With a well-planned content marketing campaign, the company can change the situation easily.
Finally, application and extension of the content marketing strategy the business of HMV will be benefitted and produce great content to reach the customers.
As this world keeps on changing, but there are same patterns or fundamental laws work in the background. Therefore, the digital marketers follow some laws and guideline while they take advantages of search engine marketing.
Both the content and social media marketing can help in the growth of the company’s initiative to digitalised its marketing. Both these aforesaid media have conductive connection with each other. Hence the marketers need to incorporate both of them in their marketing strategies.
However, if judged between the efficiency of the email and social media marketing, Emil marketing is more effective that social media platforms. From the perspective of overall performance, it has been identified that most of the customers believe that Email marketing is better at driving traffic and direct conversions. Email marketing has more reach than that of many social media platforms (Chaffey and Ellis-Chadwick 2016). It has higher click rates as well as higher conversion rates than any other marketing channels. It provides the scope for direct conversation with the customers which ultimately results in conveying messages more clearly. It has better ROI and easy to build. Most importantly the email marketing is a winner over social media because the viewer is much more in the social platforms but email marketing has more buyers.
The company while utilising the digital marketing techniques will come across many hurdles and face problems in maintaining efficiently in website performances. However, it is the prime priority for HMV as there is much online rivalry (Doric, Primorac and Kozina 2016). It denotes the speed of downloading web pages and displayed in the web browser of the clients. Web performance optimisation aims to increase the web performance. For improving website performance, the company needs to follow few steps. Such as
In traditional marketing the measuring of success was somewhat simple as this could be measured through the increase of revenue and sales but in digital world, the marketers can have numerous metrics to measure their success. Growth in sale and revenue is however major for all the firms but in this case brand engagement, visibility and increasing social following and organic searching results are also very important for the firms (Doric, Primorac and Kozina 2016). However, these metrics do not only show returns on investment in a simple way but the digital marketers have to take help from the problems convincing decision makers for increasing content marketing as well as search marketing. For measuring suggests of digital marketing the marketers use numerous tools. Some of the measuring tools are-
As it is essential for HMV to utilise the digital marketing to enhance its online offering the company needs to take some vital steps by altering some of their strategies and include new and updated methods to revitalise its popularity as well as business. In the process of reviving the company’s chief business that is selling films and music, the marketing directors have to bring its websites up in order to make it more competitive that chief rivals Amazon and Apple’s iTunes.
First, they must eliminate the barriers of among the loyalty scheme of HMV and its customers. They have to make it as simple as possible so that the customers can set up their online accounts and registration for cards (Doric, Primorac and Kozina 2016). This will help the company to collect information about the client’s preferences and them market accordingly.
Secondly, the company must amalgamate the physical media formats with the new digital files. This is how HMV will be able to reach both kind of customers but in this process there are mush hurdle (Blázquez 2014). The company has to make their suppliers convince that though it will increase cost per sale but provide scope for providing a unique sell point.
Thirdly, simplification of the website is essential where the company has designed the categories by the file formats and give clue such as music, DVD, films and downloads but the customers will prefer the design based on the content of the files.
Forth, the company needs to conduct a severe digital marketing but must follow the customer orientation. It needs to be led by the choice and demand of the customers and diverse platforms will give the company attempt to choose the target market as well as go beyond only the youth-oriented target market. Through market segmentation, will help HMV to build genuine customer orientation who will not just listen but feel their content. Developing as well as maintaining intuitive connections with their consumers will be fruitful for HMV, if it wants to survive in the competition.
Conclusion:
Therefore, it can be concluded that traditional method of marketing has proved to be ineffective in this fast growing technological world. Hence the company needs to strategies a strong digital marketing strategies to regain the popularity of HMV. All the successful businesses are becoming increasingly mindful about these facts. Hence they are trying their best to leverage this popularity of theses social networking platforms and promoting their services and goods. The concept of digital marketing is basically connecting with the customers at any place and anytime. Therefore, most of the companies have found these digital medium to have huge prospect because their customers gather there online and can pursue their movement directly. Therefore, this report has discussed the methods of designing marketing tactics and website optimization techniques which will help the company greatly.
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