Why MBAs should Learn Digital Marketing?

Let’s understand why one should opt for an MBA? Then, we will discuss why MBAs should learn Digital Marketing? And also why digital marketing is good as an extra skill to step ahead from others in this digital era. We all know about MBA/PGDM and also various specializations offered. MBA teaches all basic functions required to manage a business in the first years like Marketing, Finance, Operations, and HR. Later in second-year students become knowledgeable enough in the selected specialization to make their career in. Because the world is moving towards the digital era, this is very important for businesses to reach their potential customers digitally. And equally important for students to understand the digital trend. Because Customers are now spending their time more on electronic gadgets like mobile and tablet. And for a business, there is a more likelihood of finding targeted customers easily.

Importance of digital marketing for Businesses

There is a human tendency that whatever we see or hear on a regular basis, we actually memorize it. And that can be in the format of audio, video, or image. You may remember a video like Ramayana, or a song like Despacito, or a brand logo like Tata or Tesla. But you may not remember when you have seen their ads on a roadside billboard, magazine, or newspaper. You may have seen 100s of advertisements on tv, social media, websites, etc. And that's the power of digital marketing.

A brand can reach those who even don’t have access to TV, billboards, magazines, or a newspaper. Let me share with you an interesting fact that the total population of the globe is 676.35 crore and 795 crore phone numbers are issued. Out of them, 750 crores are the total internet users. Now you can imagine that if you know digital marketing you can easily increase your prospects and potential customers.

How can a Business target customers online?

By defining the target market online

• Defining geographical area to sell the product
• Creating buyers persona based on the current customer base
• By finding purchasing power, the need of the product.
• Competitor Analysis etc.

By defining target audience for marketing using online tools

• By collecting demographic information
• Understanding psychological information
• Collecting Behavioural and lifestyle information

Building strong online presence

• Focus on content marketing strategy.
• Respond to reviews and motivate customers to post reviews.
• Focus on delivering quality service.
• Use correct digital marketing techniques that suit your business needs (like influencer marketing, community engagement, network marketing, email and SMS marketing etc.)

Importance of digital marketing for MBA Students

Do you know why marketing, finance, operations and HR are the core subjects for almost every MBA curriculum ever taught? Because these are the basic functions of every business and students should be aware about these. Students learn and practice them throughout the MBA degree. But, in this digital era, I would say mobile era more precisely, your knowledge of traditional MBA will not give you an extra edge until you have the knowledge of the digital world too. Let’s understand why?

If an MBA student don’t know digital marketing then, he/she

• Will deprived of a wide variety of branding opportunities
• Reduce the selection opportunities in dream companies
• May be hired for less payable jobs
• May not be able to understand the behavioral changes (if any) of the target customer.
• Create an incomplete Marketing strategy without a digital strategy.
• May get less change for promotion and growth.

When it comes to using technological tools and doing analysis on online data, you will not fit into the job role. These are some cases where you will be lacking and this pulls you back from those who have knowledge of digital marketing. Just compare the growth of the digital world in the last 10 yrs. Imagine the growth of the digital world in the next 10 yrs. If you do not update your skills and align with digital marketing. That’s why Taxila Business School makes digital marketing an integral subject in its PGDM program.