7 Benefits of Digital Marketing given that the global marketplace has become more digital than ever before as a result of the rate of technological advancement, making search more user-friendly for individuals looking for goods or services.
Forbes reports that 82% of people conduct research online, and 79% of people shop online after they might have conducted their diligent research.
Recent statistics show that small businesses have figured out how to effectively create a strategy to reach and engage their target audiences online, therefore if your business is not online and you intend to make it big in your business or service, then you have to think again
I've detailed 7 reasons why you should start using digital marketing for your business or service in this article, but before we get to the advantages, let's define what digital marketing is.
What is digital marketing?
Digital marketing is advertising through digital channels, ranging from search engines to social media and more. Using these media channels, companies endorse brands and products. Consumers heavily rely on digital media when researching the products, they wish to purchase, for example, 48% of consumers start their search for a product by looking at a search engine, while 33% surf brand websites, and 26% use mobile applications.
Modern-day digital marketing is a complex system of channels. Through engagement advertising, marketers break through barriers and engage with customers through engagement advertising. This method allows you to build brand awareness, set yourself up as an industry thought leader
According to an article by Invesp, companies with a strong omnichannel customer engagement strategy have an 89% rate of customer retention, compared to those with a weak strategy and a 33% retention rate. There are many benefits that come from having an omnichannel digital marketing strategy in place—insights into target audience behaviors and new methods of customer engagement, for example.
There will be an increasing number of products consumers can wear and see the benefits of. Forbes also is forecasting that Social Media Marketing (SMM) will be more conversational in business-to-business marketing. They also are forecasting that video content will be optimized for search engine optimization (SEO) and email marketing will be even more personalized to those on the receiving end.
Marketing professionals have shifted to digital advertising and marketing, as it has become their most crucial channel
Here are 7 benefits of digital marketing
Digital marketing has been the most cost-effective
Technology has made acquiring customers easier and cheaper than ever before. Digital marketing can be used to maximize your customer base to the extent that a country president might be buying from a small business owner who ordinarily is not qualified to sell to such a high personality but because it was online and it’s affordable that almost everyone can afford with the right packaging his or her got the sale
Digital marketing has made it so easy and affordable that small business owners can easily increase their reach and conversions with the right strategies through Facebook or google ad.
When comparing digital marketing to traditional marketing, the latter makes it difficult for small businesses to compete with larger companies. Imagine how much television companies spend in running their adverts in your locality.
But because of digital marketing small businesses can get more out of their marketing spend. Digital marketing is one of the most effective and efficient ways to market a business and reach a larger audience.
Consider this – for less than $10, a small business can expose 1,000 people to its products and services via social media, as opposed to paying for a TV ad which will cost about $30 depending on your geographical location, and a mailing through the mail that will cost about $50 for the same exposure.
2. Tracking your advertisement response
The other reason you should consider digital marketing tactics is because of its flexibility and tracking in the case of SEO, social media ads, and pay-per-click that you can use to market your product to produce quicker results and a better tracking record. A better track record is the sense that you will be able to know the demographics, age, and gender you have targeted or intend to target as against Traditional advertising methods such as radio advertisements and mailers which can be difficult to track.
Digital marketing analytics can help you understand the return on investment for each of your campaigns.
Your campaigns being measured in real-time can help you determine which tactics are successful and which one to drop or adjust.
Let's say you want to create a social media marketing campaign for a new product or service and you decide to create a series of social media posts to be published over the course of two or three weeks.
You can track which social posts were the most popular with your targeted audience, as well as find out how each post drove conversions.
Use the insight you gained from your campaign to replicate the success with future campaigns.
Digital marketing analytics lets you more efficiently use your resources. For example, the marketing budget is allocated based on customer acquisition costs.
Using analytics, you can know what is working and what is not. This allows you to reduce wasteful expenses.
3. Reduces wasteful spending
One of the many benefits of digital marketing is targeting specific buyers.
Without a specific goal when you buy a billboard or place an ad in a magazine, you won't be able to reach people. Digital marketing specializes in targeting your market and reaching your most relevant audience.
Traditional marketing tools don’t offer the same targeting capabilities as digital.
For instance, you can’t be running a radio advert meant for women aged 20-to-40 years old and expect my mum, who is almost eighty years old, to block her ears and not listen to your advert. You can see that is wasteful spending but in digital marketing, you can set your ad to be shown to only the specified age bracket
SEO will even continue to help you reach people searching the web with your perfect content.
In addition, PPC, display, and social media ads make it possible to target the demographics most likely to constitute your customer base.
Targeted marketing like demographic, age and gender allows you to get more from your marketing budget, thereby saving money and increasing effectiveness.
4. Stress reduction
In digital marketing, you don’t need to spend time manually filtering through thousands of potential customers to find the right ones. Ad networks like Facebook’s Audience Network automatically match your ads with people who are interested in what you have to offer.
Using their AI's targeting abilities, you'll know that your marketing efforts are actually effective.
Did you know that one out of every five minutes on the internet is spent on a search engine?
Customers are no different when they start to research products or services that can help them.
5. Communication short-falls
With the sheer amount of communication channels, customers are looking at it before contacting a business. It is recently been shown that 59% of consumers prefer to compare different options before choosing one. Secondly, your contacts details is always available to access when they visit your site or ad, they can gently write down your contact, not in a hurry and can call
But in traditional media, radio for example don’t repeat a business contact detail more than once or twice and let's assume you were trying to get a biro in other to write down the number, once you miss any digit that is the end, you have lost that communication, unlike the digital marketing tactics where Social media, email and digital ads are all channels for businesses.
One-on-one conversations through chatbots can help you get insights about your brand that traditional marketing tactics don’t allow for.
6. Improved visibility
To improve visibility online, create content that is relevant and engaging. Make sure the content is optimized for the search engines and you also know the best time to post or it won't rank well. But in traditional media you can get such
If you use traditional techniques in marketing, you will find yourself approaching a limit in scope and size.
Companies who also have a social media presence are capitalizing on the opportunities to use it as a sales channel.
A third of the world’s population regularly use social media platforms.
Unique content is often published on social sites and promotions are advertising.
And, this will help you reach consumers that are most likely to be interested in your products or services.
Digital marketing provides an easy and accessible way to connect with consumers. easily with mobile connect.
You can even engage your customers in a live chat which can never happen in traditional marketing.
As a small business owner, you can reach a global audience to sell your products or service with the use of digital marketing services
So, now that you have read the benefits of digital marketing you should thrive to start using it because that is the modern way of marketing if you want to remain in business
Thank you for reading, let us have your comment at the comment section …. SHALOM