Effectiveness of Digital Marketing in Virtual Markets: Review of Existing Approaches and Techniques
When evaluating the communication effectiveness of marketing messages for traditional forms of advertising and marketing campaigns to promote the products of companies, marketing experts vigorously debated. Opponents of calculating the economic and financial effectiveness of marketing (including calculating ROI) argued that interactive advertising, like marketing in general, cannot be calculated. The factors that most affect the increased demand cannot be determined. Mathematical formulas and measurements force to “complete” the entire business solely with numbers, behind which consumers, suppliers, own workers and the very meaning of the existence of the business disappear. Moreover, it is quite possible that not one separate factor will work, but a synergistic effect from two or more factors. Which ones? Even the buyer who made the purchase will not be able to answer this question. Marketing itself is significantly different from the managerial approach to doing business, because it does not lend itself to clear analysis and calculation. This approach exists now. But with the development of the digital environment, various forms of Internet communications, relevant services, tools for measuring effectiveness, the so-called measurement models, which are discussed in this article, have appeared.