Main Article Content

Abstract

This study investigates the role of digital marketing strategies in enhancing a company's financial performance through a systematic literature review. It focuses on the impact of Search Engine Optimization (SEO), content marketing, and the integration of multiple digital marketing channels, as well as the influence of critical metrics like Customer Acquisition Cost (CAC), Return on Investment (ROI), and Customer Lifetime Value (CLV). The research employs a qualitative approach, analyzing peer-reviewed articles and relevant literature from the past decade sourced from databases such as Scopus, Web of Science, and Google Scholar. Thematic analysis was conducted to synthesize findings on the effectiveness of digital marketing strategies and metrics. Results indicate that SEO and content marketing significantly boost organic traffic and financial metrics, enhancing sales and customer retention. The integration of multiple digital channels amplifies these effects, improving overall ROI. Effective management of CAC, ROI, and CLV is crucial for financial optimization, with strategies focusing on personalized marketing and data-driven approaches showing the most success. External factors such as economic conditions and technological advancements moderate these effects. The study highlights the importance of adopting integrated digital marketing strategies and adapting to external changes and consumer behavior to sustain financial performance. Future research should explore industry-specific applications and the role of emerging technologies.

Keywords

Digital Marketing Financial Performance SEO Content Marketing Metrics

Article Details

How to Cite
Yendra, Y. (2023). The Role of Digital Marketing in Improving Company Financial Performance. Atestasi : Jurnal Ilmiah Akuntansi, 6(1), 474–492. https://doi.org/10.57178/atestasi.v6i1.867

References

  1. Acheampong, S., Pimonenko, T., & Lyulyov, O. (2023). Sustainable Marketing Performance of Banks in the Digital Economy: The Role of Customer Relationship Management. Virtual Economics, 6(1), 19–37. https://doi.org/10.34021/ve.2023.06.01(2)
  2. Alexander, Y. L. (2023). Meningkatkan Kinerja UMKM Melalui Pemasaran Digital untuk Meningkatkan Produk Perusahaan. Jurnal Pendidikan Dan Kewirausahaan, 11(2). https://doi.org/10.47668/pkwu.v11i.833
  3. Amoako, G. K., Bonsu, G. A., Gabrah, A. Y. B., & Ampong, G. O. A. (2023). Digital Marketing and Sustainability Competitive Advantage: A Conceptual Framework. In Handbook of Research on Achieving Sustainable Development Goals With Sustainable Marketing (pp. 170–188). IGI Global. https://doi.org/10.4018/978-1-6684-8681-8.ch009
  4. Bazi, S., Filieri, R., & Gorton, M. (2023). Social media content aesthetic quality and customer engagement: The mediating role of entertainment and impacts on brand love and loyalty. Journal of Business Research, 160, 113778. https://doi.org/10.1016/j.jbusres.2023.113778
  5. Belostecinic, G. (2023). Digital Marketing – a New Stage in the Evolution of the Modern Marketing Concept. Economica, 1(123), 7–22. https://doi.org/10.53486/econ.2023.123.007
  6. Bergemann, D., & Bonatti, A. (2023). Managed Campaigns and Data-Augmented Auctions for Digital Advertising. https://doi.org/10.1145/3580507.3597807
  7. Binsaeed, R. H., Yousaf, Z., Grigorescu, A., Radu, V., & Nassani, A. A. (2023). Digital Revolution and Digitization Process to Promote AIS as a Vector of Financial Performance. Systems, 11(7), 339. https://doi.org/10.3390/systems11070339
  8. Bonsignore, A. (2023). It’s Not Just What You Say, It’s How You Say It: Mitigating the Impacts of Greenhouse Gas Emissions with Effective Content. Technical Communication, 70(1), 83–95. https://doi.org/10.55177/tc344445
  9. Chaffey, D., & Smith, P. R. (2022). Digital marketing excellence: planning, optimizing and integrating online marketing. Routledge.
  10. Chen, Y. (2023). Comparing content marketing strategies of digital brands using machine learning. Humanities & Social Sciences Communications, 10(1), 1–18. https://doi.org/10.1057/s41599-023-01544-x
  11. Conti, E., Camillo, F., & Pencarelli, T. (2023). The impact of digitalization on marketing activities in manufacturing companies. The Tqm Journal, 35(9), 59–82. https://doi.org/10.1108/tqm-11-2022-0329
  12. Damle, M. (2023). Boosting D2C (Direct-to-Consumer) Websites with Search Engine Optimisation (SEO). 84–89. https://doi.org/10.1109/SICTIM56495.2023.10104723
  13. Fachira, I. (2023). Digital Marketing Strategy Formulation to Increase Engagement in Course and Training Institution Industry (Case Study: PT Karisma Garuda Mulia). International Journal of Current Science Research and Review, 06(06). https://doi.org/10.47191/ijcsrr/v6-i6-59
  14. Gahlot, B., & Rani, P. (2023). A Study of Digital Marketing Strategies influencing buying behaviour of e-commerce consumers. Research Review International Journal of Multidisciplinary. https://doi.org/10.31305/rrijm.2023.v08.n06.013
  15. Govender, P. (2010). The problem of calculating ROI on social media : A Literature Review.
  16. Gryshchenko, I. (2023). Insights into digital marketing management framework in modern organizations. Žurnal Strategìčnih Ekonomìčnih Doslìdženʹ. https://doi.org/10.30857/2786-5398.2022.4.8
  17. Gupta, M. B. (2023). Role of Digital Marketing in Enhancing Brand Engagement and Consumer Behavior. International Journal of Advanced Research in Science, Communication and Technology, 3(1). https://doi.org/10.48175/ijarsct-12100
  18. Hariningsih, E. (2016). Kerangka kerja pengukuran social media return on investment. 3(1). https://doi.org/10.54131/JBMA.V3I1.35
  19. Isazade, N. (2023). Relationship and benefits between marketing strategies and consumer behavior. Proceedings of Azerbaijan High Technical Educational Institution, 29(06), 462–477. https://doi.org/10.36962/pahtei29062023-463
  20. Isbandi, I. (2023). Implementasi teknik seo (search engine optimization) untuk optimasi website penjualan di lestari jaya mebel. Edusaintek, 10(3), 1047–1060. https://doi.org/10.47668/edusaintek.v10i3.867
  21. Jena, S. K. (2023). Impact of customer-centric approach and customer dissatisfying cost on supply chain profit under price competition. Journal of Business & Industrial Marketing. https://doi.org/10.1108/jbim-02-2022-0111
  22. Jin, Y. (2023). Analyze the Effect of Customer Retention Rate on Customer Lifetime Value(CLV) - Based on the Regression Model. https://doi.org/10.4108/eai.18-11-2022.2326838
  23. Kanchanapoom, K., & Chongwatpol, J. (2023). Integrated customer lifetime value models to support marketing decisions in the complementary and alternative medicine industry. Benchmarking. https://doi.org/10.1108/bij-07-2021-0431
  24. Koob, C. (2021). Determinants of content marketing effectiveness: Conceptual framework and empirical findings from a managerial perspective. PLOS ONE, 16(4). https://doi.org/10.1371/JOURNAL.PONE.0249457
  25. Koob, C. (2023). Don’t forget about customer magazines: the effects of reading experiences on customer magazine effectiveness. Frontiers in Communication, 8. https://doi.org/10.3389/fcomm.2023.1195620
  26. Kozenkov, D., & Salo, M. (2022). Content marketing as a modern element of a company’s marketing strategy. Ekonomìčnij Vìsnik Dnìprovsʹkoï Polìtehnìki, 79, 59–68. https://doi.org/10.33271/ebdut/79.059
  27. Lal, B., Ismagilova, E., Dwivedi, Y. K., & Kwayu, S. (2020). Return on Investment in Social Media Marketing: Literature Review and Suggestions for Future Research (pp. 3–17). https://doi.org/10.1007/978-3-030-24374-6_1
  28. Li, C., Wang, Y., Zhou, Z., Wang, Z., & Mardani, A. (2023). Digital finance and enterprise financing constraints: Structural characteristics and mechanism identification. Journal of Business Research, 165, 114074. https://doi.org/10.1016/j.jbusres.2023.114074
  29. Liao, Y.-C. (2023). Customer engagement and sharing behaviors: Toward a contingent curvilinear perspective. Journal of Business Research, 154, 113284. https://doi.org/10.1016/j.jbusres.2022.08.048
  30. Lim, W. M., Kumar, S., Pandey, N. K., Verma, D., & Kumar, D. (2022). Evolution and trends in consumer behaviour: Insights from Journal of Consumer Behaviour. Journal of Consumer Behaviour. https://doi.org/10.1002/cb.2118
  31. Liu, J., Zhou, K., Zhang, Y., & Tang, F. (2023). The Effect of Financial Digital Transformation on Financial Performance: The Intermediary Effect of Information Symmetry and Operating Costs. Sustainability. https://doi.org/10.3390/su15065059
  32. Machikhiliyan, I. V. (2023). Customer Referencing and Capital Market Benefits: Evidence from the Cost of Equity †. Contemporary Accounting Research, 40(2), 1448–1486. https://doi.org/10.1111/1911-3846.12850
  33. Manapat, R. K. S., & Sridharan, V. G. (2020). The Role of Strategic Cost Management in Marketing Decisions: A Case Evidence of Brand Acquisition Assessment. 3, 5–24. https://doi.org/10.52153/PRJ1117004
  34. Mao, L. L., Zhang, J. J., Kim, H., & Connaughton, D. P. (2023). Towards an inductive model of customer experience in fitness clubs: a structural topic modeling approach. European Sport Management Quarterly, 1–23. https://doi.org/10.1080/16184742.2023.2219684
  35. Marbun, D. S. N. (2021). Pengaruh Digital Marketing terhadap Peningkatan Kinerja Pemasaran UMKM Pariwisata di Kabupaten Toba Indonesia. Prosiding Seminar Nasional Ekonomi Dan Bisnis, 1(1). https://doi.org/10.33479/sneb.v1i.125
  36. Mihajlovic, A., & Gajic, J. (2023). Advanced Technologies as a Framework for Sustainable Marketing Campaigns (AI Application in Neuromarketing). SINTEZA. https://doi.org/10.15308/sinteza-2023-180-184
  37. Myburg, M., & Berman, S. (2022). Customer Lifetime Value Prediction with K-means Clustering and XGBoost. 298–302. https://doi.org/10.1109/ASONAM55673.2022.10068602
  38. Octavina, L. A. (2021). Digitalisasi UMKM, Literasi Keuangan, dan Kinerja Keuangan: Studi pada masa Pandemi COVID-19. Jurnal Bisnis Dan Biaya, 11(1). https://doi.org/10.14414/JBB.V11I1.2552
  39. P., G. (2023). The effects of artificial intelligence on digital marketing. ShodhKosh Journal of Visual and Performing Arts, 4(1SE). https://doi.org/10.29121/shodhkosh.v4.i1se.2023.431
  40. Priyanka, A. laksmi, Harihararao, M., Prasanna, M., & Deepika, Y. (2023). A Study on Artificial Intelligence in Marketing. International Journal For Multidisciplinary Research, 5(3). https://doi.org/10.36948/ijfmr.2023.v05i03.3789
  41. Rathod, V. H. (2023). Marketing intelligence redefined: leveraging the power of ai for smarter business growth. Towards Excellence, 378–386. https://doi.org/10.37867/te150239
  42. Rodríguez-Rabadán, M., Pino-Romero, C. del, & Galán-Fajardo, H. (2022). Identification of Tools for Measuring Branded Content. In Advances in marketing, customer relationship management, and e-services book series. https://doi.org/10.4018/978-1-6684-3971-5.ch014
  43. Safari, M. (2023). A Framework Towards Customer Lifetime Value’s Macro and Micro Dimensions in the Service Sector: A State-of-the-Art Review. Management and Business Research Quarterly, 26, 1–23. https://doi.org/10.32038/mbrq.2023.26.01
  44. Samsudin, A. (2023). Dampak Penerapan Optimasi Digital Marketing Pada Bisnis Kue Kering Delicies Store. Jurnal Pengabdian Pada Masyarakat Indonesia, 2(4), 4–10. https://doi.org/10.55542/jppmi.v2i4.730
  45. Sehgal, S., & Gupta, G. (2019). Converging resources and co-producing for innovation: evidence from healthcare services. European Journal of Innovation Management, 23(3), 429–453. https://doi.org/10.1108/EJIM-02-2019-0047
  46. Setiawan, A. (2020). Pengaruh Internet Banking dan Digital Marketing terhadap Kinerja Keuangan Bank BNI Syariah Makassar. Jurnal Manajemen Dan Inovasi, 5(1). https://doi.org/10.37531/MIRAI.V5I1.708
  47. Shah, M. S. (2023). Dynamics of Digital Marketing and Consumer Buying Behavior: A Quantitative Analysis. Journal of Development and Social Sciences, 4(II). https://doi.org/10.47205/jdss.2023(4-ii)27
  48. Simion, P. C., & Popescu, M. (2023). Assessing the Use of Artificial Intelligence in Digital Marketing. Evidence from Romanian Companies. Proceedings of the ... International Conference on Business Excellence, 17, 1128–1138. https://doi.org/10.2478/picbe-2023-0101
  49. Simpson, T. (2023). Impact of Financial and Nonfinancial Constructs on Customer Lifetime Value (CLV): U.S. Retailer’s Perspective. Journal of Relationship Marketing, 1–36. https://doi.org/10.1080/15332667.2023.2197769
  50. Singh, P. J., Arora, L., & Choudhry, A. (2022). Consumer Behavior in the Service Industry: An Integrative Literature Review and Research Agenda. Sustainability, 15(1), 250. https://doi.org/10.3390/su15010250
  51. Skačkauskienė, I., & Nekrošienė, J. (2022). Marketing effectiveness evaluation possibilities and challenges for business: a bibliometric analysis. https://doi.org/10.3846/bm.2022.836
  52. Skačkauskienė, I., Nekrošienė, J., & Szarucki, M. (2023). A review on marketing activities effectiveness evaluation metrics. https://doi.org/10.3846/bm.2023.1037
  53. Stewart, D. W. (2019). The Financial Imperative of Marketing (pp. 7–31). https://doi.org/10.1007/978-3-030-15565-0_2
  54. Stewart, E. (2023). The Role of Artificial Intelligence in Modern Finance and Sustainable Marketing. Advances in Marketing, Customer Relationship Management, and e-Services Book Series, 355–371. https://doi.org/10.4018/978-1-6684-8681-8.ch019
  55. Sunitiyoso, Y. (2023). Marketing Communication Strategy to Increase Customer Acquisition in Digital Bank: A Case Study PT Bank Sukses Bersama, Tbk. International Journal of Current Science Research and Review. https://doi.org/10.47191/ijcsrr/v6-i7-60
  56. Terblanche, N. S., Gerber, C., Erasmus, P. D., & Schmidt, D. (2013). A marketing perspective on the impact of financial and non-financial measures on shareholder value. South African Journal of Economic and Management Sciences, 16(2), 216–230. https://doi.org/10.4102/SAJEMS.V16I2.368
  57. Tong, S. C., & Chan, F. F. Y. (2023). Strategies to drive interactivity and digital engagement: a practitioners’ perspective. Journal of Research in Interactive Marketing. https://doi.org/10.1108/jrim-05-2022-0153
  58. Vasilopoulou, C., & Theodorakopoulos, L. (2023). The Promise and Peril of Big Data in Driving Consumer Engagement. Technium Social Sciences Journal, 45, 489–499. https://doi.org/10.47577/tssj.v45i1.9133
  59. Ye, J., & Chua, C. E. H. (2023). Monetization for Content Generation and User Engagement on Social Media Platforms: Evidence from Paid Q&A. IEEE Transactions on Engineering Management, 1–13. https://doi.org/10.1109/tem.2022.3209534
  60. Zhao, C., & Peng, X. (2023). Influence of Online Reviews on the Dynamics of Product Quality and Pricing in a Competitive Market. International Journal of Electronic Commerce, 27, 324–353. https://doi.org/10.1080/10864415.2023.2226899
  61. Zheng, J., & Mason, D. S. (2022). New Media, Digitalization, and the Evolution of the Professional Sport Industry. Frontiers in Sports and Active Living, 4. https://doi.org/10.3389/fspor.2022.921329