In my First Blog Post I had written about the manner in which digital marketing has overtaken the space of traditional way of marketing. The blog post has received good response from the readers. I also received several feedbacks from the readers that it will be better if I could present a SWOT Analysis of digital marketing. I found the suggestion to be very genuine and legitimate as we do not have many SWOT analysis about this field.
Though the release of the present blog has been little delayed, we have brought you some good points to look at. It will also be great if you can also help me to make this blog post better by suggesting some more points or even contradicting the points that I have mentioned. This will not only help us, but it can also be used by the upcoming digital marketers as a document which they can refer whenever they want.
To say in brief, SWOT analysis is an in-depth analysis of any topic by bringing out the Strength, Weakness, Opportunity and Threat of it. This helps the user to understand all the aspects of the topic, both negative and positive. Through this blog we intend to only provide more clarity to the readers on how and why the world is moving towards digital marketing.
– Easy to target and reach more audience at a cheaper price.
– Campaigns can be easily customized and made more targeted as per our business requirements.
– As the world is more dependent on the internet, it helps the business to reach out and connect with the people on a larger scale.
– Saves a lot of money as compared to the traditional way of marketing as it is cheaper and efficient.
– Being recognized as a brand has become much easier.
– The options are not confined to one or two, there are many options and people can choose to switch from one to the other if PLAN A doesn’t work and that does not cost a great loss of money.
– Promotion of small business is easy as it is cost effective.
– Entrepreneurs find it very useful as they do not need a huge budget for this and it gives them huge platform to make a mark on the digital world.
– You do not require a large team to do digital marketing campaigns unlike the traditional manner which in turn saves money, time and labor and also increases the ROI.
– A challenge to reach the population which is still not using the internet.
– High chances of failure of digital marketing campaigns because of confusion due to the availability of many different marketing options.
– Keeping pace with new trends and technology.
– Need of deep understanding of changing human behavior and requirements.
– If your brand or product is not justifying the users need, then the chance of getting bad reviews in public is very high, which in turn might damage the reputation.
– Damage control of bad reviews or complaints on social media or digital platform is a huge task and can even lead to the closing of businesses.
– Data Analysis is still a very big concern and very few people are professional in it as not many are able to understand what data actually says.
– More and More employment for the youth as this field is just growing and number of professionals are less.
– Increase the reach of your brand, therefore, leading to direct profit.
– There are lot of ways through which owners earn money apart from their primary business, eg- giving space for ads on website, affiliate marketing in e commerce etc.
– If the digital marketing comes everywhere in a full-fledged manner it will help the country itself to become digital that means major chunk of our population will start leading a life which will be smarter and faster.
– It will help our Indian Government Organizations to become digital.
– All the operation from railways, municipal organization etc. will become faster and smoother.
– Storing of valuable and confidential data of the government organizations will be easy and secured.
– The Dream of making “Digital India” can become true.
– If it doesn’t work perfectly then chances of back fire is higher i.e. it might damage the brand name.
– Due to ever changing trends of different marketing areas and ever changing rules of search engine for optimizing the content, continuous awareness is required, which is very difficult.
– Storage of data with full security is still a big question mark.
– Analyzing the data in a wrong way can lead to damaging results which is found in a lot of companies.
– With the growth of this digital platforms, customers have become more vocal about their feelings and opinions, and with the availability of this platform they have the power to damage as well as advocate for any brand, which is a high risk for the marketers.
– Day by day it is engulfing all the traditional ways of marketing, which ultimately might even lead to Television being left as the only source of traditional marketing