The role of modern digital marketing in modeling of relationships with consumers of goods and services in virtual markets

Abstract

Subject. The article considers digital marketing modeling as a tool to increase the size of business and the number of potential customers, reduce advertising costs thus increase overall sales. Objectives. The focus is on underpinning the role of modern digital marketing in customer relationship modeling in virtual markets. Methods. The study employs the systems approach, methods of theoretical generalization, comparison, data grouping, synthesis, concretization, and analysis. Results. We offered our own definition of the concept of digital marketing and established its role in the digital economy, presented a bonus card of communication with consumers in virtual markets, demonstrating the main effects that arise in a virtual environment as a result of relationships between sellers and buyers. Our designed model of managing consumer relations in the virtual market includes the main steps for a company to attract and retain customers. Conclusions. Understanding the needs of the audience, developing effective interaction strategies, data analysis, and optimization enable companies to successfully manage customer relationships and achieve high results in the digital environment.