functions of digital business strategy marketing and innovation 2021

Digital business strategy examples marketing and innovation

A business has two functions - marketing and innovation.

So, what exactly is marketing? Marketing is basically  the activities, a set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for its customers, partners, and society in the wider perspective.

There are several types of marketing like:-

  1. Affiliate marketing
  2. Digital marketing
  3. Social media marketing
  4. Email marketing
  5. Content marketing
  6. Direct marketing
  7. Influencer marketing

The Marketing plays a vital role in promoting the business and mission o company. It is the basis of the face of your company, coordinative and manufacturing all materials representing the business. It's the job of  Marketing personnel to reach out to resolute prospects, customers, investors and/or the community, all the while creating an overarching image that represents your company in a light that is positive and much more.

 

So for now, let's go back and  talk about one type of marketing that is booming in this period which is, Influencer marketing.

 Social Media marketing plans:-

 Influencer Marketing is a combination of old and new marketing tools which takes the  very  idea of celebrity endorsement and hype and places it into a today's content-driven marketing campaign. The main difference in the case of influencer marketing is that the results of the campaign are the  collaborations between brands and influencers.

 

digital business strategy marketing and innovation 2021

But influencer marketing does not  just simply  involve or revolve around  celebrities. Instead, it revolves around influencers, many of whom would never contemplate  themselves as  famous in a setting that is large or offline sometimes.

 

In the trying times of covid - 19 and more, the brands will realize the need to market their products and services after or during the period. And hence, the future of this marketing looks good and proportional to the fact the influencers are rising too.

local business use influencer marketing

 Take a look at some Business statistics.

 - Influencer marketing is anticipated to grow to be worth priced $13.8 billion in 2021.

- the term itself has seen a 465% increase in its searches.  Like for the phrase "influencer marketing" has seen this hype on Google alone since 2016.

- sixty seven percent of the brands use Instagram for influencer marketing.

- 1360 platforms opened that worked on influencer marketing and agencies have been entering the market in the last 5 years only.

- It is calculable that 75% of brands will dedicate part of their marketing budget to this strategy in 2021.

 

There are some trends that are followed by the companies and organizations while choosing influencer marketing. Some of them are -

1. Micro and Nano Influencers -

Many brands choose to like better to hunt for micro or nano influencers who they can collaborate with. These are influencers who have thousands or even hundreds of thousands of followers, but have not reached a  million. Despite all of these , these types of profiles very often have a higher engagement or traffic  rate than those who exceed one million followers or more.

2. Long-Term Collaborations -

If the primary campaign turns out to be a  success of, brands usually prefer a long-term collaboration. With this kinds of deal,  influencers and brands can build a strong partnership as the influencer simultaneously gains a better understanding of what the brand is offering and how best to present it, and the brand sees that it can trust the influencer to form and create content that counts as quality content.

3. Authenticity -

Although new sorts of content will be sought, authenticity is still very important. This means creating content that is not solely partaking or engaging but also credible and sincere.


The future of influencer marketing looks very promising. It is simple, economically strategic and quick and helps the brands grow.


So, if you wanted to find out if influencer marketing effective in 2021. The answer to that would be yes.

types of digital marketing strategies

Post a Comment

Previous Post Next Post