Business Models And Strategy Formulation – Growth Strategies For Digital Marketing

Abstract

With accuracy and level of detail that earlier generations of CMOs could barely imagine, digital marketing can provide accurate outcomes regarding the efficacy of a marketing program in addition to extensive data and analysis of customer behavior. The problem is that new consumer behavior and technological advancements are raising the bar for what can thrive in the market. Frameworks for digital audits, planning, and strategy can be obtained from digital marketing models. Digital marketing has completely changed how businesses interact with their global clientele in recent years. New business models based on the reciprocity of communication between businesses and Internet users have emerged as an outcome of the growing usage of social networks and how consumers interact with them online. This new online channel has been used by online advertising campaigns, digital marketing, new company models, and other digital tactics to gather user ideas and comments. Companies are now beginning to see the digital ecosystem in this way—as their future as well as their present. Businesses are worried about sustainability and the enlargement of their business models of their business models that promote social enterprises. This paper tries to discuss how entrepreneurs can apply these approaches more swiftly and in a way that would benefit everyone in a broader scope.