Digital Marketing is now a mainstream activity for any business, or for that matter anyone who wants to market themselves. On the face value, it might appear that there are few stakeholders in the digital marketing industry, but that’s not true. This article will give you complete clarity about all the stakeholders that contribute to the Digital Marketing Ecosystem. Since you are also part of this ecosystem now, it is important for you to understand all the stakeholders in this ecosystem.
Various stakeholders in the Digital Marketing Ecosystem are as follows:
#1. Users
By far, the most important & the most focused entity in digital marketing. Users (commonly called target customers) are the ones that drive the command business to adapt specific media for communication. Users could be your existing customers or those who are the potential to become your customers in the future. Since users have adapted to digital media, all businesses are turning towards digital marketing as a major option to market their business. To emphasize the importance of users, allow us to share Google’s philosophy no. 1, that read as follows:
“Focus on users, else will follow”
#2. Businesses
Businesses are the second most important stakeholders in the digital marketing ecosystem. They fund the entire economics (money) of the digital marketing ecosystem. Their prime goal is to sell their products & services to users (their target customers), & digital marketing is a way to achieve these goals. Businesses invest in various activities that form a complete digital marketing campaign, lets say from research to spending on ads to get the customers. For most of the other stakeholders, businesses are the target customers.
#3. Digital Networks
Digital Networks, can also be called as digital platforms. These are the places where users spend their time. The existence of digital networks drives traffic to the internet. Digital Networks drive user’s interest & are key drivers for growing & sustaining the number of users on the internet. Google Search is an example of a digital network, so is Facebook, Amazon & Gmail are. Each of these networks provides specific services to the users and there could be multiple networks providing similar services. Businesses understand their target audience & their frequently used network to select promote their businesses.
#4. Domain Names Ecosystem
To market themselves, organizations have to create their digital identity on the internet. The website is one primary identity. Making a website live, requires a domain name. Hence, though the domain name may sound insignificant, it is key to represents every single business on the internet. There is an independent ecosystem of domain names that has various stakeholders within.
#5. Web Hosts (Web Hosting Ecosystem)
Just like domain names, web hosting may again sound insignificant. However, all the content that is seen on the internet, is actually sitting (hosted) on the web. Just like space in the physical world, all the data that is accessed on the internet need hosting space. Like domain names, web hosting also has an independent ecosystem. Hostgator is an example of a Web Host.
#6. Digital Tools
Digital Marketing is about compiling content & presenting in various formats. Website designing, images/video designing & processing & quite a few similar tasks need creation tools. There are tools that contribute to the digital marketing process at various stages. Digital Tools enable scalability, efficiency & faster execution. WordPress Content Management System is an example of a Digital Tool, so is Canva to design social media banners, posters, ads & much more.
#7. Digital Marketing Agencies
Creating, managing & maintaining digital marketing campaigns require expertise. Like ad agencies of traditional media, there are now agencies specializing in digital marketing services. These agencies have built expertise to create digital marketing campaigns & deliver results to businesses. Whether to outsource digital marketing work to these agencies, or do it inhouse, depends on the business need & expertise required to achieve desirable results. SRV Media is an example of a Digital Marketing Agency.
#8. Digital Marketing Human Resource
The actual people to execute various digital marketing processes. They are the backbone of digital marketing agencies as well as of those organizations that manage digital marketing by themselves.
#9. Digital Marketing Educators
Digital Marketing is relatively a new subject. Traditional education system requires time to integrate digital marketing as a part of the regular education system. Therefore to train & develop digital marketing human resources, educators are required. Digital Marketing Educators are those who got early learning opportunities in the digital marketing industry. Educators have worked on & witnessed various digital marketing campaigns & have attained a significant level of expertise in digital marketing as a subject.
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#10. Digital Marketing Bloggers
Just like educators, digital marketing bloggers are experts in digital marketing & have chosen to blog as a channel to educate the aspiring community.
#11. Digital Marketing Associations
Any industry needs a central authority to drive the growth of the respective industry. Digital Marketing associations are responsible for bringing all the stakeholders together & develop a healthy, growing & sustainable ecosystem. Digital Marketing Events are one of the key contributions of Digital Marketing Associations.
Summary
Digital Marketing is a mainstream activity & involves contributions from many entities (can be called stakeholders). Each stakeholder has a unique position in the ecosystem & there could much more in each one of them. Understanding Digital Marketing Ecosystem could effectively help you to see where you are, who are other entities, how to leverage the ecosystem & create a unique space for yourself.
Happy Digital Marketing!