Obviously, businesses must identify effective ways to market their goods and services if they want to grow, enter new markets, or launch products, but this is becoming harder than ever in today’s modern world, where there is huge competition and rapidly evolving technologies and environments. This is one of the reasons why implementing and constantly reviewing effective digital marketing strategies and adapting them in collaboration with input from expert marketers is essential.
Why ‘digital’ rather than ‘traditional’ marketing? One reason is the number of consumers who are going online. Did you know that as of 2023, there were 5.19 billion internet users, with each spending on average 6 hours and 40 minutes online every day, with a large amount of that time being spent on online shopping?
But it is not as simple as just switching to e-commerce to achieve the best results. It is important to be aware of which digital marketing strategies will prove to be the most effective for the target audience. This brings us to the role that expert networks can play in defining digital marketing strategies, as this can potentially change how companies interact with their target market.
But first, let’s define the terms digital marketing and digital marketing strategies.
What is Digital Marketing?
Digital marketing, also referred to as online marketing, serves as a tool for distributing information about a company, a product, or a brand via digital channels that users can access using various devices. The ultimate purpose of digital (and traditional) marketing is to increase sales by raising product awareness and impacting consumer decisions.
As the name suggests, digital marketing is carried out online using various digital channels, such as search engines, social media, and websites.
Due in large part to the increased use of digital technology, online marketing has become an essential part of most companies’ marketing strategies.
What is a Digital Marketing Strategy?
Using digital channels to increase a business’s online presence is the goal of a digital marketing strategy, which should consider the company’s target audience and its competitors as well as its strengths and weaknesses.
Digital Marketing Statistics
Industry specialists forecast huge growth in the digital marketing market. They believe that by 2028, this will reach almost US$690 billion, which represents a compound annual growth rate (CAGR) of 13.62% over the five years between 2023 and 2028. Here are some other facts to be aware of:
- The value of the global digital marketing market hit US$322.2 billion in 2022.
- Digital ad spending is expected to reach US$740.3 billion by 2024.
- At US$202.40 billion, search advertising holds the largest share of the digital market.
- In a couple of years, smartphone ad spending will account for nearly 70% of all ad spending.
- Between 2021 and 2026, the yearly average growth rate of digital marketing is projected to be 17.6%.
- With the onset of COVID-19, over 85% of American marketers increased their social media involvement.
Expert Networks’ Impact on Digital Marketing Strategies
To be able to maintain effectiveness, grow, and reach their goals, companies should constantly spread the word about their latest achievements, products, and services. However, given that consumers face a myriad of choices from numerous online sources that long for their attention, sparking interest can be anything but easy.
In order to stand out from the crowd, businesses should consider introducing an expert’s perspective into their digital marketing strategies. Being able to find and get in touch with industry experts, some of whom may be former executives and thought leaders, means that expert networks can help companies gain comprehensive insight into a market’s dynamics and trends.
Here’s how expert networks can impact your digital marketing strategies:
1. Strategic Insight and Tailoring
The potential of expert networks to add strategic insights to digital marketing campaigns is one of their most important uses.
This degree of personalization will improve a campaign’s effectiveness, which in turn will drive engagement and conversions.
2. Content That Stands Out
Utilizing expert networks can help in the creation of compelling content that will appeal to the target consumers. Subject-matter experts can contribute to the development of engaging, educational, and informative narratives by using their professional knowledge to boost brand authority and trust.
3. New Solutions to New Problems
The world of digital marketing is full of obstacles, including constant modifications to social media algorithms and changes in consumer privacy standards. Expert networks can operate as a brain trust, providing new solutions and flexible approaches to help brands remain ahead of the curve and relevant in the marketplace.
4. Improved Decision-Making via Data Analytics
The professionals selected by expert networks can help companies interpret complex data analytics and convert large datasets into insights that can be put to good use. This helps marketers refine their approaches, optimize campaigns to make them more effective, and maximize the return on investment.
5. Facilitating Knowledge Exchange
Because they connect digital marketers with specialists from different fields, expert networks enable the exchange of information and ideas, which results in more creative, innovative, and comprehensive marketing tactics.
With the evolution of digital landscapes, the contributions from expert networks such as RightAngle Global will become greater as more companies seek to improve their digital marketing strategies.
If you’re looking for professionals who can help optimize your digital marketing strategies, contact RightAngle Global – we know how to identify and contact subject-matter experts who will provide in-depth knowledge and insights for each individual project.
Final word
Given the continual advances in technology and the fact that tailored consumer experience is gaining huge popularity among marketers, we can expect an increase in the demand for expert knowledge and niche insight. By leveraging the power of expert networks, companies will be able to improve their digital marketing strategies and ultimately make more informed decisions to implement innovative and effective marketing practices.
Suggested reading:
Key Expert Network Trends in 2024: Insights from RightAngle Global
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How Expert Networks Can Help Companies Keep Up With Industry Trends
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