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Digitalisation in marketing: analysis of challenges and opportunities

Author

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  • Dmytro Petrenko

Abstract

The study found that digital marketing is actively developing and gaining wide popularity in Ukraine and the world. Digital marketing (or digital marketing) is a marketing strategy that uses Internet technologies and digital communication channels to promote goods or services. This paper identifies the main components of digital marketing (websites, search engine marketing, social media, email, content marketing, online advertising, analytics and measurement). In order to understand the extent to which digitalisation affects marketing, it is important to analyse the transformation of the main information, strategic and operational marketing activities in the digital revolution. The article establishes that despite the incredible benefits, certain challenges arise on the way to the development of digital marketing (marketing budget management, the possibility of getting lost among competitors, traffic and lead generation, ROI optimisation, multichannel marketing strategies, use of tools and technologies, building and maintaining brand visibility, understanding of your audience) and suggests ways to solve them. The author presents the main statistical indicators of digital marketing and digital advertising. Comparing the three main digital advertising markets - the USA, China and Europe, the USA can be considered the largest, as it accounts for more than a third of global digital advertising spending. The presented correlation and regression model allowed to establish the relationship between the indicators of digital advertising and the indicator of the overall advertising media market. It is determined that the key ways of digital marketing transformation include personalised, interactive and real-time marketing. Eight key opportunities of digital marketing have been allocated, in particular: global reach, target audience and personalisation, customer loyalty, cost-effectiveness, multiplier effect, control, measurable results in real time, brand development

Suggested Citation

  • Dmytro Petrenko, 2023. "Digitalisation in marketing: analysis of challenges and opportunities," Innovation and Sustainability Articles, Innovation and Sustainability, vol. 3(3), pages 96-104, August.
    • Handle: RePEc:cve:innsjn:v:3:y:2023:i:3:p:96-104
    DOI: https://doi.org/10.31649/ins.2023.3.96.104
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    References listed on IDEAS

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    1. Tat-Huei Cham & Jun-Hwa Cheah & Mumtaz Ali Memon & Kim-Shyan Fam & Józsa László, 2022. "Digitalization and its impact on contemporary marketing strategies and practices," Journal of Marketing Analytics, Palgrave Macmillan, vol. 10(2), pages 103-105, June.
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