What is Digital Marketing? Types, Benefits, & Costs

Digital marketing is like the wild west of business these days. 

Everyone’s eager to get in on the action because it’s a goldmine for growing your brand. With nearly a billion people hanging out on social media, it’s clear you need to be there too. Many think digital marketing is just a fancy term for online promotion. But really, it’s about using websites, social media platforms, and emails to reach people genuinely interested in what you’re selling. Instead of broadcasting to the masses, you’re targeting those who truly care.

In today’s fast-paced world, people want what they want—immediately. Digital marketing is designed to meet those expectations. With the rise of smartphones and tablets, it’s the perfect way to connect with customers on the go. No wonder digital marketing is taking over—it’s that significant. So, if you want to stay ahead, it’s time to get on board. Let’s explore the ins and outs of digital marketing, covering the good, the bad, and everything in between.

What is Digital Marketing?

Digital marketing is the process of promoting products or services using digital technologies. It involves leaving up online channels like search engines, social media, email, and websites to reach and engage with customers. Unlike traditional marketing, digital marketing offers greater flexibility, measurability, and cost-effectiveness.

History of Digital Marketing

Okay, let’s take a little walk through time and see how we got from dial-up internet to TikTok influencers. Back in the day, when the internet was just a twinkle in a computer scientist’s eye, there was no such thing as digital marketing. People were still figuring out how to use this newfangled thing called the World Wide Web (www). It was basically just a giant digital library where you could find information, but don’t even think about sharing your thoughts.

Fast forward a bit, and computers started getting smarter, and more people got online. That’s when people started thinking, “Hey, maybe we can use this internet thing to sell our products!” So, the term digital marketing was born. It was like a baby stepping its first steps. Now, here’s where things get tricky. Everyone wants to be the father of digital marketing. Some say it’s Marconi because of radio waves, others point to Ray Tomlinson for email, and then there’s Philip Kotler, the marketing guru. Honestly, it sounds similar to trying to figure out who invented the wheel – there are probably a dozen claims out there. But one thing’s for sure, digital marketing has come a long way since those early days. 

And it’s only going to get more exciting.

Common Types of Digital Marketing

Digital marketing encompasses a wide range of strategies. Let’s explore some of the most common types.

1. Search Engine Optimization (SEO)

SEO aims to boost a website’s ranking in search engine results pages (SERPs). It involves tweaking website content, structure, and technical elements to climb higher for key search terms.

2. Pay-Per-Click (PPC) Advertising

PPC ads let companies bid on keywords and show ads on search result pages. Advertisers only pay when someone clicks their ad.

3. Social Media Marketing (SMM)

SMM uses social platforms to reach target audiences, build brand recognition, and spark interaction.

4. Content Marketing

Content marketing centres on producing useful and pertinent content to draw in and keep customers. This includes blog entries, articles, videos, infographics, and other formats.

5. Email Marketing

Email marketing sends tailored messages to a subscriber list to cultivate leads and promote products or services.

6. Affiliate Marketing

Affiliate marketing teams up with other businesses to push their products or services in exchange for a cut of the sales.

Benefits of Digital Marketing

The global digital advertising and marketing market for 2024 is estimated at $667 billion and is projected to reach $786.2 billion by 2026. This clearly depicts that digital marketing is not just about reaching people; it’s about connecting with them in a way that’s personal, effective, and downright fun. Here are the top benefits of digital marketing that any service seeker like you can get.

1. Reach a World of Customers

Your business could talk to anyone, anywhere, anytime, just think about it. With digital marketing, that’s totally possible! You can say “hello” to people across the globe or focus on folks right around the corner. It’s like having a megaphone that’s super smart and knows exactly who to shout at.

2. Spend Smart, Earn More

Who doesn’t love saving money? Digital marketing is like finding a secret coupon for everything. You don’t need a fancy office or a big TV ad to make a splash. Plus, you can track every penny you spend and see how much it’s bringing in. 

3. Know Your Audience Better Than They Know Themselves

Digital marketing is having an X-ray vision into people’s minds (in a totally ethical way). You can see what they like, what they buy, and what keeps them up at night. This means you can create messages that speak directly to their hearts and wallets. It’s like having a personal shopper for your customers.

4. Make Data Your Best Friend

Numbers don’t lie, and with digital marketing, you’ve got a treasure trove of them. You can see exactly how people are interacting with your business, what’s working, and what’s not. It’s like having a crystal ball that tells you the future of your business.

5. Flexibility at its Best

The world changes fast, and your marketing should too. Digital marketing acts as a chameleon; it can adapt to any situation. You can try new things, learn from your mistakes, and always stay ahead of the curve. It’s like having a personal assistant for your business.

6. Build a Brand People Love

Digital marketing isn’t just about selling stuff; it’s about building a brand that people adore. You can create content that’s informative, entertaining, and inspiring. It’s like being a superhero who saves the day with awesome content.

7. Crush Your Competition

Want to be the big fish in a small pond? Digital marketing can help you swim laps around your rivals. You can find new customers, keep your old ones happy, and leave your competitors wondering what hit them. It’s like having a secret weapon that nobody else knows about.

8. Career Scope 

Digital marketing is more than just a job; it’s a dynamic, exciting career path packed with opportunities. Unlike traditional marketing, which can feel a bit stuck in the past, the digital world is always evolving, creating a constant demand for talented professionals. From managing social media campaigns to crafting engaging content, there’s a role for everyone. With constant evolution, skills like AI, VR, and data analysis are in high demand. Whether you’re an aspiring entrepreneur or a job seeker, digital marketing offers a thrilling career path.

9. And Make Money While You Sleep

The best part? Digital marketing works for you 24/7. Your website, social media, and emails are out there hustling even when you’re catching Zzz’s. It’s like having a tireless sales team that never takes a vacation.

10. Video Marketing

Video marketing involves creating and sharing videos to promote products or services. It can be used on social media, websites, and video-sharing platforms.

Average Cost of Digital Marketing

The cost of digital marketing varies depending on several factors, including:

• Marketing Goals: The complexity and scope of your marketing objectives will influence the budget.
• Target Audience: Reaching specific demographics may require higher investments in certain channels.
• Competition: The level of competition in your industry can impact advertising costs.
• In-House vs. Outsourced: Deciding whether to manage digital marketing in-house or outsource to an agency will affect costs.

So, how much does digital marketing actually cost? Well, that depends on a bunch of things, like how big your business is, the country your business belongs to (for example, the average cost of website designing in UAE will vary than in India), and what you want to achieve. The average cost of digital marketing can range anywhere from $500 to $10,000 a month, especially for SMEs. But don’t let that scare you off. You can start small and build up as you go. The cool thing about digital marketing is that you can reach a ton of people without breaking the bank. You can use platforms like Facebook, Instagram, and LinkedIn to connect with your target audience. And because everyone’s glued to their phones, it’s easy to get your message out there. According to Statista, in  the digital advertising market, 81% of the digital advertising revenue will be generated through programmatic advertising in 2028. This means that a marketer can individually work on promotions and can get the best access out of it. If you’re looking at specific digital marketing services, here’s a round-up of what you can expect to pay.

• SEO: Anywhere from $1,500 to $5,000 a month to get your website noticed by search engines.
• PPC advertising: This can add up to $10,000 a month, but it’s a quick way to get in front of people.
• Email marketing: You can start with just $500 a month, but it can go up to $5,000 depending on how fancy you want to get.
• Content marketing: Creating awesome content can cost between $2,000 and $10,000 a month.
• Social media marketing: This can range from $1,000 to a whopping $20,000 a month, depending on how many platforms you want to conquer.
• Website design: Building the best website can cost anywhere from $2,500 to a jaw-dropping $100,000.

If you prefer to work with an agency, you’ll probably pay around $80 to $200 per hour. Small and medium-sized businesses (SMEs) usually spend between $2,000 and $6,000 per month on digital marketing. But if you’re aiming for the stars, you might spend between $10,000 and $20,000. And for those big businesses, the sky’s the limit – they can easily spend over $100,000 a month on their online marketing efforts. 

NOTE: These are just average prices. The actual cost will depend on your specific needs and goals.

To Sum Up

Digital marketing is a fast-paced world. Algorithms change constantly, and staying ahead is a full-time job.

That’s where Wizer comes in. As the leading marketplace in the UAE for hiring digital marketing professionals and SMEs, we can help you go through this complex landscape.

Need a digital marketing expert? We’ve got you covered.