In the last decade or so the world has shown a paradigm shift from analog to digital. More and more people are consuming all kinds of information online hence making digital marketing the best way to reach out to your targeted customers. We ask why Digital Marketing is important.
The importance of digital marketing works not only in favor of marketers but it provides something innovative to the consumers too. Let us have a look and understand the importance of digital marketing.
1. Better Growth Options For Small business
The importance of digital marketing for business lies in the option to select your method of marketing as per your budget and reach a wider audience at a lesser cost. Even a decade back getting your product marketed especially for a small business was a task in itself. They had to resort to small level methods where the guarantee of success was close to negligible.
2. Higher Conversion Rate
The businesses that are opting for digital marketing are able to measure the conversion rate through real-time using a simple method. That is identifying the percentage of viewers who get converted into leads and then subscribers and in the end finally purchasing the service or product. SEO, Social media marketing and Email marketing are methods which have a high conversion rate as they are able to generate a quick and effective communication channel with the consumer.
Surprisingly all the traffic that you may get on your website may not be fruitful hence digital marketing lets you reach out to only those who have the need for your kind of service hence offering better lead conversions.
3. Establishing Brand Reputation
For any business to survive the one thing that they really need to work upon is establishing a reputation that is impeccable. In the past few years, it has become evident that customers will always prefer a company that does not have any scandals associated with it. The importance of Digital marketing today lies in offering you multiple ways to establish a personal rapport with your customer base.
4. Solving Customers Problems
Be it email marketing or social media you can always offer the customer solutions to their problems and make them relate to your product by even providing live chat access. Your website and social media page can easily be converted into a place where the consumer can ask queries, give suggestions and hence take the association with you on a positive level.
An example of how customer grievance was addressed using social media
5. Engagement With Mobile Customers.
After Google mobile-first update nearly almost all the websites these days are made in a manner that they are easily viewable on the mobile as well. This is because almost all customers have access to a smartphone and most of them even look for products on the same.
6. Expansion of Faith In Your Brand
The presence of your brand and service on multiple platforms gives the option to customers to rate your services as per their level of experience. A positive and favorable review left by a satisfied customer causes the new ones to immediately convert. This, in turn, leads to the building up of the strong image of the brand in the minds of the new consumers hence leading to more conversions.
7. Better ROI for your Investment
While earlier budget allocations were done individually to handle each kind of marketing medium the situation becomes more progressive now. Even a small level of investment done in a mode of email marketing has the potential to deliver results in terms of customer engagement. Using web analytics helps the business owners know whether your website is providing optimal ROI.
8. Digital marketing is Cost-Effective
A small business needs to save up on its resources before it finally goes into the green zone and starts making profits. Digital marketing gives you the scope to reach out to many customers at the same time and that too within your budget. You can plan your marketing strategy such that you only use modes that lie in your budget. If there is a budget constraint then you should always target your niche audiences.
9. Potential to Earn Higher Revenues
Since the amount of money invested is less and the ROI is more the scope to make money is much higher. As per a study conducted by IPSOS Hong Kong in accordance with Google has shown that compared to traditional methods, digital marketing is known to generate 2.8 times more revenue. This coupled with the fact that the conversion rates here are much high ensure that you are minting money as soon as you enter the fray.
10. Computable Form of Marketing
It is very difficult to track record of success from traditional marketing but with the use of digital marketing tactics, every step of success is measurable. Digital Marketing works in real-time as it shows the success of each and every tactic that has been used. Through this, you may choose the best tactics that show the best results. After that, you can easily make changes in your campaigns to achieve greater success.
11. Expanding Audience Reach
The most important benefits of digital marketing are reaching your audience to the fullest. Under traditional marketing, you are being bounded by the scope and size of your audience and print media limits you to certain places and markets.
Targeted Audience Approach:
Digital marketing benefits you to target your audience farther. There are higher chances that your audience is spending time on social media platforms such as Twitter, Facebook, etc. where you can publish an advertisement to gain more engagement with your audience.
12. Easy Adapting of Tactics And Strategies
Another major advantage of online marketing is that they are very easy to understand. You can easily understand through the result of tactics which one is giving you results and which one is not. Strategies that are implemented in online marketing gives you results on a real-time basis.
For example, if you want to promote your blog page then you can simply share your blogs on various social media platforms. With the help of content marketing, you can increase your engagement with your audience very soon and very accurate.
13. Can Start With A Small Budget As Well
Everyone has a budget problem in life therefore many businesses didn’t promote themselves. But Digital marketing gives you another advantage of promoting your business with a very small amount. Online marketing benefits small businesses on a large scale with a small investment amount.
Research Study By Marketing Profs:
According to the Marketing profs the data has been shared below that how digital marketing platforms helps various small scale business.
For instance, if you are the manufacture of hand made handicrafts but you don’t have money to promote your business then online marketing would play a significant role as with an amount of 10,000 you can publish your content over social media with a budget of 300 per day. Through this, you can promote your business for a period of one month especially to your targeted audience.
14. Go Beyond your Boundaries:
Using digital marketing for the promotion of your business is very unique in nature. You need to come out of your comfort zone and have to put some effort into it. Digital Marketing benefits you only if you are taking an active part in it. The role of digital marketing is very fast as it includes SEO, SMO, SME, and various other processes.
The future of digital marketing seems very bright at the moment. However, while brands were earlier competing with each other’s marketing strategy now the focus has shifted to a fight against the entire internet. This is the time when brands will have to use different modes and ways to actually delve and make an impact on the customers.
Surviving in such cut-throat competition is only possible if you can devise and implement a marketing strategy that portrays your uniqueness and gives the customers a reason to opt for you.