Can Digital Marketing Make You Rich?
Let’s be honest, like any other job or business becoming rich is based upon the hard work and smart work, efforts, and time you put in. But is there any way to be rich by putting in your energy and time? Is it worth exploring? Is it an option to choose as a career? Let’s figure out together, the ways to earn money, future opportunities, and scopes as a digital marketer and in short, to become rich.
Well according to LinkedIn, the largest social networking site, which focuses on professional networking and career development, digital marketing stands among the top 10 most demanded jobs.
With 2 million jobs forecast to be available by the beginning of 2021 only in the UK alone and with the increased use of the internet, there is no better time to start building your career in the field, the job scope salary and also the demand are constantly growing in the recent past.
Also, read about the Top 10 Digital Marketing Institutes in India
What Is Digital Marketing (DM)? And why is it important:
Digital market refers to any digital media to help achieve the marketing objectives such as marketing the product, buying and selling your product, protecting and expanding your product value, encourage engagement with the client and other companies to set up your brand and maintain its commercial value, etc. It utilizes the power of electronic commerce for marketing, selling, or providing services.
Electronic commerce refers to marketing through the internet or digital channels, which includes TV channels, social media networking, websites, and other electronic means, which is often referred to as online marketing or web marketing or internet market.
With the development in information and communication technology, the era of smartphones and their applications and various multimedia functions have occupied the urban area and even reached the rural areas.
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With the growing world, it is provided with both challenges and opportunities. It has a bright career consider the constantly evolving and dynamic of the field with various options.
Businesses world have seen the popularity in the online shopping industry and the emergence of e-commerce ultimately giving rise to the digital market. And, still holding the tremendous potential to increase the opportunities for business entrepreneurs many folds, creating the many opportunists of making good money through it.
Also, know Are Digital Marketing Jobs in Demand
Top skills require becoming a successful marketer:
1. Good with marketing channels: The first and the major skill required is that you have to be good with marketing channels like SEO (search engine optimization, social media marketing), email marketing, and so many other channels.
2. Data analytics: Data analytics refers to the techniques to analyze data and enhance productivity to gain business profit.
3.Knowledge of WordPress: It’s another important skill one has to possess to become an excellent digital marketer. For example, if you writing a blog so you need to know which platform you need to go for and in what way you should put across your points, so it plays a major role, and it also helps your organization if the company is dealing with the content marketing or social media marketing.
4.Google Analytics: Google Analytics is one such tool that helps to analyze the insights of your websites like how many people are landing on your website and what is the traffic that is generated through a particular medium it can be a blog, video, or any other factor and where you are losing traffic on to your website. So this particular tool plays a major role in shaping your career as a digital marketer.
5.Basic design skills: So design skills are a must. To generate a website of your own, you need to possess some design skills that will eventually help your organization.
These are not the only skills required to be a master. There are other skills in the market every day, but these are the evergreen skills that one should have a good idea about and also knowledge about excel, sales skills, objective thinking, creative thinking, and also the ability to adapt to other environments to become successful in the field.
Job role and the scope:
Jobs play a major role when you want to pursue a career in any domain. It is such a field where you can find evergreen job roles. So what is the scope of this field- is it easy to get a job, or does it require some special skills to get started? Let’s have a look.
- Roles and responsibilities: The first responsibility as a digital marketer is to be able to create a marketing campaign on your own to generate leads for your organization.
- Assist in the formulation of strategies: To build a long-lasting connection with the customers. Also, able to plan and monitor the ongoing progress on social media platforms. This plays a major step in creating a successful marketing career.
- Actively involving in SEO writing: This pertains to blog writing. SEO plays a major role if you writing your blog for your organization and creating good content. Creating good content that helps both the customers as well as the business is the main agenda for digital marketers.
- Analyzing the insight of your website: As mentioned before, these are the basic and important skills required.
- Maintaining a good relationship with customers: This is what people are hired for, and this is exactly why you need to be more open to your customers.
Professional Courses from IIM SKILLS
- SEO Course
- Technical Writing Course
- GST Course
- Financial Modeling Course
- Business Accounting And Taxation Course
- CAT Coaching
- Investment Banking Course
To stay ahead, one has to be more creative and up to date with the latest technology trends. It’s a growing platform where technology changes also affect the marketing platform. So you need to be updated with the latest trends in the market currently. This job field is highly result-driven and enhances your knowledge and creativity.
- Digital marketing executive: This job role comes with the responsibility to look into online marketing strategies for a business, you should also be able to plan and execute marketing campaigns.
- Digital marketing manager: The primary role is to brand your product out in the digital space, you are to develop and implement and manage marketing campaigns that promote the product, and services of your company, so this role plays the key to the success of your organization.
- SEO executive: The primary role of an SEO executive or specialist is to rank a page on the search engine result page. Also, they are the major factor that influences the traffic to your website.
- Social media marketing expert: The primary role is to combining marketing and social media management to enhance the company’s social media presence, interaction with a target audience, promoting the brand engaging content, and opportunities for increasing the revenue.
- SEM (search engine marketing): The primary role is mainly targeting the number of releases and clicks from a given marketing budget, marketing bid, keyword research analysis, and best ads campaign.
- Content marketing manager: The primary role is to create valuable content and has the desired skills to market it. Managing blogs, video marketing, marketing campaigns, ebook publication, guest blogging, email communication, and so many other tasks are taken care of by the person.
The processes consist of different trends and techniques, with proper planning to define the specific e-marketing strategies and objectives to ensure to take advantage of the wide opportunities provided in marketing in digital media.
Ramping through the different marketing sectors from content writing to social marketing to marketing technology to found to present the marketing trends, which will able you to earn money through DM.
Search engine optimization (SEO):
Search engine optimization or SEO might look like a big term, but it’s a simple form of money-making once you understand the specifications. SEO is improving your website visibility organically or naturally for a given search result for your website or article in Google or any other search engine.
Every search engine works to give a result based on the particular keyword or the phrases based on the search query searched on the search engine, and the most relevant result appears on top.
Google updates its algorithm regularly to keep the most relevant results on top. From the different perspectives of many experts say that SEO is dead and the effort is vain. However, the truth is that Google or other search engines try to prevent algorithm manipulation and keep filtering the sites which don’t deserve to top of SERPs (Search Engine Result Pages).
So it is wise to invest in SEO work. It is one of the most cost-efficient marketing strategies that will bring organic and natural traffic to your business.
Here comes the part where you can earn money by writing SEO content aiming to attract search engine traffic for your website or the client offering you the job.
While writing the content, make sure to properly use the primary and secondary keywords, with a minimum of 15% longer than the competing article will improve the chances of increasing the visibility.
Search engine marketing (SEM):
Search engine marketing or SEM is one of the most efficient ways of growing the business in the competitive marketplace and fastest type.
With the increasing number of businesses out there trying to catch the eyeballs, it’s becoming more important to promote the product online, and SEM is the efficient way of promoting the product by driving the traffic to your business through paid efforts. Hence it can also be called paid search marketing.
SEM is a wide and complicated marketing space. There are different platform options available based on your business structure, you can opt from choosing PPC (pay-per-click) or CPM (cost-per-thousand impressions) or CPC (cost-per-click) model. By far, Google Ad Words (on Google Network) is the most popular tool among SEM.
SEM includes Display Advertising, Paid Social Advertising, mobile marketing, etc. You can make lots of profit if it’s done with proper planning and strategy, but in any case, if done carelessly, it might cost you huge with no returns.
Content marketing or content creation is termed creating and publishing content on any digital medium for promoting a certain product or service by binding the bridge between seller and consumer.
Content can be present in any format, which includes white paper, blogging, e-books, articles, social media sites, news and updates, infographics, image, pamphlets, guides, case studies, videos, podcasts, webinars, etc. Content marketing is a vast field, you can create content on any topic and relate it to your business.
The recent changes to Google’s algorithm to rank your article on the top are related to the fact that the quality of your content is the most important metric.
Conten writing needs to be customized according to the different platforms. While writing content, you should pay attention to understand the product thoroughly, and it should be written in a manner that can be understood easily by any age group of people and to buy the product.
Remember, well-written content with an effective strategy will keep your readers engaged and keep them exploring more of your content. Good content is shared by the impressed reader, which helps to get more engagement and branding to your business.
Social media marketing (SMM):
Social Media Marketing or SMM is a subset of your SEM efforts. SMM involves using social media platforms to create connections and involving a drive to traffic to your sites or business through social sites like Google+, Instagram, Facebook, Twitter, Linked In, Pinterest, etc. As we mentioned earlier, good content will be shared, liked, and create connections.
Content for different social media platforms should be created and customize according to the platform. Remember to be active and engage with users daily, create quality content be prolific and original.
SM has become an impactful medium in creating business and marketing, your efforts spent on SMM can be especially helpful for branding your product and increasing sales of your product.
Therefore, one must learn how to use social media in a way that involves their business plan. You have to change with the technology change to create a successful marketing campaign through social media.
Digital display advertising:
Digital Display Advertising is again a subset of your SEM efforts. There are various ways of display advertising formats to a potential audience – be it text, rich media, banner, image, video ads, or interactive.
Your message can be customized based on content topics, interests, or the possibility of the customer buying the product. However, digital display advertising can be relatively expensive but with the proper strategy, you can utilize it to a greater extent in earning money.
With the increasing number of mobile subscriptions worldwide and growing technology, there is no doubt a serious amount of money can be made. Mobile marketing is a relatively new branch in marketing that would refer to the two-way communication between customers and the company through mobile devices.
The other platform such as apps, websites, and content is customized for mobile devices. With mobile marketing, there has been an acceleration in mobile commerce, and mobile-based sales have grown.
Mobile marketing is considered a revolutionary tool for connecting clients and companies together through mobile devices at a right time, in a right place, and with an appropriate direct message. Mobile marketing formats such as stories and short orientated videos, in-app advertising is taking the center spot in DM trends.
Email Marketing is the strategy of sending a commercial message through email to a list of potential customers. Emil marketing remains on top means of reaching the customer and boost of a return of investment (ROI) with a high ratio and growth rate.
There has been a boost in email marketing with AL software, where you can maintain email lists that are segregated based on various factors such as ‟ likes and dislikes” of the customers, spending habits by creating engaging content and engagement with the potential customer through email.
The important point to note down is to send personalized emails, which helps to develop trust. With an increase in mobile to desktop ratio, prioritization of mobile format is critical.
Affiliate Marketing is a performance-based marketing program, where you promote a product of another person through an affiliate network, or you pay to the publishers who bring you customers earning a commission if a third party end up buying the product through your marketing.
The performance may be based on leads or simply sales or conversions – promotions. You can be part of different affiliate programs at a time but it’s preferable to stick to one particular niche.
In essence, Affiliate Marketing is a profitable situation for both publishers and merchants. Sites like Amazon, Flipkart run, LinkShare, and eBay Affiliate Programs. Many businesses with appreciable traffic and star-ups have their affiliate programs.
Strategies to become a successful digital marketer:
- Defining your business: The first step in getting into DM is to be clear about your niche do a thorough analysis about the marketing area, what is being provided and what is missing and you’re going to serve the market, and how you’re going to make through it.
- Understand your competition: What are the top players in the market, and what strategy is keeping them top different from others. Create your strategy by understanding the market and how you can be creative about your product to target the audience.
- Branding: Select an appropriate name suitable for your product, design a good logo, color, and sign of your logo, which represents the best of your idea about your product and represents your creative side. In addition, a creative motto and a tagline will help your company. Assisting your brand with every post you make on the different digital platforms will get you different engaging from a different platform, but make sure the post on the different platforms should be customized accordingly. Branding plays a main role in keeping your brand intact in minds of your customer and helps you grow.
- Lead generation: Use your content for lead generation by providing quality content and distributing it properly.
- Using social media: Firstly, social media is cost-efficient and has a wider reach; you can interact with your customers directly. Social media is an effective tool in growing your marketing, you can directly get in touch with customers, explain your product, even you can give a demonstration about your product by gaining the trust of your client. Go live, conduct a webinar, and create short videos about your product that attract your customers. Don’t just use social media for advertising, collect the review and feedback and keep updating your product for a better experience.
- Make good content: Last, but the most important strategy is to create good content because, in the end, good content is the king. You might attract costumer with all the advertising and using other strategy but if your content lacks, your customers aren’t going to stay or spend their time on your site. By creating good content you’re not only keeping your customer intact but also will reach new customers by impressing the readers and also the search engine ranking.
Payscale in India and the US:
This digital marketing salary might vary according to your work profile experience and also and a major part of your talent, if you have all three combine, you’ll definitely be able to barge in the opportunity.
|Average Salary in US market
|Average Salary in Indian market
|Digital marketing manager
|Social media manager
The table shows the average salary, not the actual it may vary according to the experience level and also the location and other factors.
With the blooming technology and shift toward digital life, this field is promising to stay relevant for a very long time in the future.
Some of the reasons based on facts:
- Predicted that 86% of all digital display ads will be presented via automation by 2021.
- It has evolving roles and is no longer limited to the CIO
- It has a high engagement ratio. So, the conversion rate is high.
- By 2022, more than 50% of the globe will see most of their business depending on their ability to create products and services.
Now the main thing you need to know to become rich/earn a significant income as a digital marketer is you need to be willing to put in an effort over a long period. With the increasing technologies and digitization, marketing is growing exponentially.
There are numerous courses available to enhance and master the skills, some even provide online courses which offer a detailed study and certification on DM, like Google DM courses offered on skill shop portal, HubSpot, Udemy, IIM Skills, etc. With proper guidance and hard work, you can have many opportunities to kick start your career as a digital marketer and become rich.