Digital Marketing also is known as online marketing mostly in German speaking countries compromises all types of marketing, which are executed online. So what is the difference between the traditional marketing like print media vs. digital marketing?
- It is way more efficient. That’s why the ROI is higher. In other words, as an example, you need to spend way less money to reach audiences. Sending mails to people, who are likely to be interested in your products or services cost a certain amount of money to send it. With Emails it is even for free.
- It is faster. Because time is money, being faster is also valuable. Besides first come, first serve. When you are faster than your competitor on the market, you can sell your products or services first.
- Higher visibility. It is way easier to reach 1000 people with digital marketing than the traditional one. For example, there are many Facebook groups out there with thousands of members. Just one single promotion of your product or services and you already reached these many people.
- It is measurable. You can see right away, how many clicks your ads has or with web analytics, you can see, how many visitors your website has and it looks like this: So this week I have about 4000 visitors on my website. It also can report me, where the visitors come from like from which country or from which source like Google, Facebook, Pinterest etc.
Now, you have a quick understanding, why Digital Marketing is better than the traditional one. Here comes some types of Digital Marketing:
- SEO stands for search engine optimization, so that you can be ranked higher on search engines like Google. I’ve already written a blog article about it, so check it out: What is SEO?
- Content marketing can be any kind of content like text, audio and video for example blogs, youtube videos, tutorials, podcasts etc. So it is mostly informative like explanations, tutorials etc. or entertaining making yourself competent to persuade potential customers to purchase the products or services.
- Social media marketing is used on social media platforms like Facebook, Google+, Twitter, Instagram, Pinterest, Quora, LinkedIn etc. not only to attract customers, but also to attract potential employees, inform the public. So social media marketing has also a PR function and much more. The biggest social media company, I know, is Facebook with about 2.1b users. Only Google has more users, but Google exists already a decade earlier. Within social media marketing, it also exists influencer marketing. Influencers are people, who have a big influence on a certain niche. For example one of the top Instagram influencer Rachel Brathen with 2.1m followers charge $25 000 per post.
- Email marketing is used for example to inform customers about the latest products or services news, but also for promoting contents. It’s not only good for sending newsletters, but it can also be more individualized.
- Online advertisements are also known as pay per click, where Businesses have to pay a certain amount of money, if users click on the advertisement, which is really effective, because you only have to pay, when a potential customer is interested in, what you have to offer.
- Affiliate marketing is also an effective way to increase sales, because you only have to pay to the affiliate, if he or she is able to make sales for you. Affiliates can be influencers, bloggers, youtubers etc.
The list is definitely not complete. It is just to give you a quick overview over digital marketing. I hope you liked it. In order to stay up to date just like my Facebook page The Doan’s blog. Here is another related article: What is SEM?
What is ICO?
ICO also known als crowd sale, token sale or crowdfunding is smilar to IPO, but you don’t get shares. Instead you get cryptocurrencies with the possibility to get dividends like the coin Dash does. It’s a way to raise money for your startup to be able to run this project, you are raising for. Unlike IPO it is not regulated, so the failure rate is pretty high. Some says, that on the long run only 10% of the cryptocurrencies will survive. The 1st ICO ever was in 2014, where Ethereum could raise about $2,2m. Last year was a popular year for ICOs, because there were more than 1000s new ICOs. Unfortenately about 50% of it already failed. It also happened sometimes, that those ICOs were scams, where the scammer collected the money and just ran away. That’s why in the US, EU and South Korea they plan to regulate it. China even banned it. Most recently Telegram could raise about $850b for its ICO. Some are speculating, that Amazon would do its own ICO, which would have a way bigger impact on the cryptocurrency market.
On their website you can see the team members sometimes with its advisors. From there you can have an impression, whether they might be able to push through their project. Besides there is a also a white paper describing their project more deeply with a roadmap to see their plan for the future. Most of them are based on Ethereum blockchain with ERC20 standard. To be able to take part in it, you mostly have to buy Ethereum or Bitcoin. With your Ethereum coins you will buy their cryptocurrencies. For example 1 Ethereum is worth 1000 ICO cryptos. So you don’t directly buy their cryptocurrencies with fiat money like $ or €, but you have to buy with another cryptocurrency instead.
In order to stay up to date just like my Facebook page The Doan’s blog. Other related articles: What is Bitcoin? or What is Blockchain?
Currently freelancers mostly are using upwork to find jobs, but the fees are high and it can happen, that you don’t get paid at all. Now a new platform is coming up based on blockchain using its advantages like more reliable and less fees: Blocklancer. Its technology is based on Ethereum.
It is currently in its ICO phase and it ends in 1 hour. If you want to know, what blockchain is, read here: What is Blockchain?
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What is Blockchain?
Blockchain is a technology, which Bitcoin is based on. Although this technology started with Bitcoin, it can be applied to many other areas e.g. real estate instead of only banking. You wouldn’t need a notary any more to purchase properties. It can safe you many thousands of €. Why? Because Blockchain is a decentralized database also known as ledger, which doesn’t need intermediaries or 3rd parties to do transactions. That’s why the slogan is „Be your own bank“ to have more control over your money. The decentralization makes it less manipulable and more secure from cyber attacks.
So basically you transfer money directly to the other person. The transactions are summarized with a hash stamp on it. Today it is about 1100 transactions per block on average. The hash has a similar function of a mailbox’s label as an example. It just looks totally different like a code with combination of numbers and letters based on a special algorithm. As soon the block got a hash stmapEvery block will be extended by another block like a chain. That’s why it is called blockchain. Each block’s weight about 1 kilobytes, so with the current weight of the whole bitcoin’s blockchain of roughly 150GB, there should be at least 150m blocks out there. Which also means, there are at least 150b transactions right now.
This blockchain is decentrally stored in many computers. This kind of computer is also called nodes. Besides the blockchain is transparent, because it is public, which mean everyone can have a look at it. In order to run the blockchain, you would need many computers to run. It is also called as mining. Those miners will get bitcoins as rewards. For each block the miners get 12.5 BTC as a reward. It will cut in half in about 2020 to 6,25 BTC. It’s also called a proof of work method, but it is time and electricity consuming. That’s why Bitcoin is only able to do 7 transactions per seconds. Each transactions consume roughly as much electricity right now as a house for 1 week. Proof of stake doesn’t require miners. That’s why is less power consuming. For example the altcoin Dash is based on it. It requires „stakeholders“ instead. In this case it means, how many cryptocurriencies someone has. The more stakes someone has the higher the rewards, which is quite similar to stocks with its dividends.
The blockchain’s scope is massive right now, because it can use smart contracts, which is able to replace normal paper contracts, which also means an attorney is not needed any more. That’s why it is regarded as a disruptive technology, which is able to disrupt the banking industry, real estate industry, logistics and may more. Let’s see how this technology will go on.
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