Eight Reasons Why Digital Marketing Matters
Not so long ago, marketers made use of traditional media in marketing and advertising, nowadays you can make use of both traditional and digital ways of marketing your brand. Marketing has truly evolve the past years, things have changed. Businesses have to think about how to use the online platform, to effectively bring in more revenues, increase engaged customers and eventually maximize ROIs.
Marketing has always been understanding our customers, connecting with them at the right place and at the right time. Today, this means we need to meet them where they are already spending time – the internet. My main motivation in writing this article is to share the importance of why every business should implement digital marketing initiatives NOW. There are a lot of digital marketing jargons and industry terms to make use of but today, I would be sharing just the basics of the WHYs should you go Digital?
Digital Marketing First, Traditional Marketing Second
Digital Marketing is any form of marketing that exists online. It also means making use of technology and the internet in engaging with our customers, understanding data and promoting your brand’s products/services. It is no longer secondary to traditional marketing and it’s not a game only large enterprises play. Small and medium businesses have also caught up with the trend that promises more revenues. In fact, many small to medium sized businesses prefer digital marketing over traditional marketing channels due to its cost-effectiveness and wider reach.
Experts believe digital marketing to be the future and a medium that has the potential to replace traditional marketing mediums altogether. That’s why investing time and resources in digital marketing are so important as it’s faster, more versatile, practical and most importantly, cost effective.
Digitally Connected World
We live in a digitally connected world where almost everyone has access to information on their mobile devices. Businesses that fail to capitalize on digital platforms often end up struggling behind the competition (and in many cases completely fails). Marketing is evolving and has to adapt according to industry trends and seek opportunities to expand online presence. Our audience is online, more than half of consumers now make online purchases, creating huge opportunities for businesses and allowing them to reach new markets.
The number of internet users is expected to keep growing. According to We Are Social and HootSuite we now have a global population of 7.6 Billion, wherein there is 4.3 Billion people connected to internet and 3.4 Billion of them actively uses Social Media and 75% of them purchases online though a mobile or a desktop. This means businesses that do not invest in digital marketing would miss a huge chunk of sales opportunities and target the right audience using online platforms. On the other hand, businesses that focus on digital marketing can accomplish a lot more in less time and create unforgettable experiences.
Controlled Brand Reputation
Digital marketing allows businesses to expand their customer base, build brand loyalty and provide them with a platform where they can keep in touch and share feedback. Strong online presence creates a positive image in the minds of the customers, which can take a very long time using traditional marketing channels. Businesses that focus on digital marketing can accomplish a lot more in less time and create more unique experiences. The internet is a perfect medium for all these activities, especially for small businesses that don’t have huge advertising budgets.
Experts believe digital marketing to be the future and a medium that has the potential to replace traditional marketing channels altogether. That’s why investing time and resources in digital marketing are so important as it’s faster, more versatile, practical and most importantly, more cost effective.
It’s More Cost Effective
Digital marketing has allowed small and medium sized businesses to reach the masses, which otherwise would not have been possible due to limited advertising budgets. Small and Medium Enterprises (SMEs) can now reach thousands of qualified prospective leads at a fraction of the cost and engage with the audience in a more targeted manner. In many ways, the internet has leveled the playing field for everyone and offers equal opportunities to businesses of all sizes. All SMEs have to do is find the right tools to position businesses, identify their target market and run more creative, impactful campaigns online.
Social Media Engagement, More Likes
Social media offers small businesses with zero advertising budgets the opportunity to reach their target audience and engage them at a personal level. It allows targeting them based on their individual preferences, demographics and more. If done properly, it can do wonders and help businesses gain a lot of traction. Strong social media presence also helps build trust and credibility while bringing more traffic to the website.
Customer Feedback and Analytics
Digital Marketing is also about targeting the right audience at the right time to produce the right outcome. We simply cannot afford to miss the opportunities Digital Marketing has to offer in today’s competitive digital era when customers have so many choices available to them in different platforms.
Online marketing platforms are extremely effective in gathering customer feedback and tracking their entire journey. Analytics platforms such as Google Analytics help monitor all preferences and actions and offer a great amount of valuable data that is otherwise very difficult to obtain. A better insight into customer behavior and preferences allow businesses to tailor fit their products and services more effectively, ultimately resulting in brand loyalty and returning customers.
Identified Customer Journey
Digital Marketing addresses most of the customer touchpoints, if not all and businesses can benefit if they have an omni-channel interactions approach. Identifying your customer journey both for B2B or B2C models come is easy if digital marketing is implemented. From brand awareness when customers does their research online, to discovering products and services that they consider to purchase, up until the actual conversion. But it does not stop there, the experience after purchase would definitely help in the loyalty program where businesses can create a rewards incentive that would help retain and improve the customer lifetime value (CLV).
Measure, Measure, and Measure
Monitor and track, test, tweak, repeat. Digital marketing gives you an access to data and analytics. Track your marketing campaigns, tweak them based on results and repeat the process. The result if done repeatedly will snowball into a digital marketing success. All these and more, indeed Digital Marketing has a lot to offer, including increased conversions, enticing your target audience to take your calls to action, preparing your businesses for the future and the IoT (Internet of Things) and obviously staying relevant and competitive.
There are many businesses that realized the potential of digital marketing early on, and have made the switch from brick and mortar to online business. I have been doing both digital and traditional marketing for quite some time now to understand that this is not a one man team implementation. Well, depending on the company size it can be a one man team for a small enterprise, a lean team of two (2) to four (4) for a medium enterprise and a full team (complete with Digital Marketing Specialists - content creators, web development, and social media managers) for a large one. Don’t lose hope though, it all starts with one person with a passion for marketing then influencing a team of professionals to become as passionate true blooded marketer in the long run.
So, when do you transition from traditional to a digital marketing play? Now is a good time as any, future proof your business by creating your digital marketing strategies and build your execution team for the win. In this digital age and world although it’s difficult and challenging to fully grasp and get ahead of the curve, I still believe that digital marketing as a strategy is full of creative resources and opportunities. Now go forth and multiply the efforts of your digital marketing initiatives!
***This article was originally published on LinkedIn .