10 Important Benefits of Digital Marketing Every Business Should Know!
Digital marketing is marketing/promoting your products/services online so that you can connect with the customers directly in the right place at the right time. The world has entered the digital era, and millions of people are spending a lot of time on internet. However, digital marketing is key for the modern day business and brands to promote products or services, reach and interact with the ideal customers and gain exposure to new audiences.
Social Engine Optimization (SEO), Social Media Optimization (SMO), Search Engine Marketing (SEM), Content Marketing, E-Commerce Marketing, Social Media Marketing, PPC, Display Ads, Email Marketing, etc., are subsets of digital marketing.
Digital marketing requires both strategy and creativity. However, not all businesses are aware of the benefits of digital marketing. According to reports, almost 50% small businesses are not using online marketing platforms to promote their business, which is an alarming number. Even more concerning is that 25% businesses do not consider digital marketing to use in the future either.
But now you’re about to learn how digital marketing can be the game-changer for your business:
1. Growing Your Brand Awareness:
Digital marketing will make it easy to spread the word about your products and mission through an online presence. The global online population is rapidly growing. Currently, 3.96 billion people use social media on a global scale. And owing to this fact, businesses are growing aware of the various ways in which they could easily reach out to this exploding online population.
Now, the best part about digital marketing has always been that it offers more convenience not only to the users but also to the businesses by assisting them in reaching out to a large target audience with a single click.
Digital Marketing helps to get your brand in front of people much more quickly and easily. It also gets the audience to think about your brand or product when they aren’t even thinking about it.
Let us look at some statistics:
- Social media is being used by 45% of the world’s population.
- People not just follow stories and contents but also get influenced by them.
- Data shows the actual insights that are generated online.
- Users spend an average of 3 hours a day on social media platforms
- 21 million youth open apps more than 50 times a day.
2. Establish Online Presence & Improve Website Traffic:
In today’s world, no one is going to find you if you don’t have an online existence. The customers of today are always searching for products or services online on search engines and other social media platforms. However, you are missing out if you do not have an online presence.
Digital marketing can assist in sending customers directly to your site through blogs, social media, email or newsletter, SEO, PPC Advertising, etc. These are all aspects that will increase your brand’s online exposure and ultimately will boost traffic to your website.
3. Wider Reach:
Online marketing helps brands to reach a large number of people who are interested in their services or products. With the internet, all types of businesses, from multinationals to small and medium enterprises, have access to millions of potential customers. It is important to keep yourself visible among the wider audience through digital marketing strategies and monitor your competitors. You can achieve maximum visibility and a wider reach through an effective SEO strategy for your website. The higher the number of visitors on your website, the more sales you’ll generate.
4. Geographical Expansion:
Using traditional marketing to expand into a new geographical location is stressful work. Digital marketing will help you to extend into new places without having to travel. You can sell your products or services to any corner of the world without even having a physical store. You can promote your brand through website, email & social media campaigns.
5. Cost Effective:
Digital marketing is more adaptable than Traditional Marketing. The costs are likely high in newspaper advertisements, television commercials, manpower, rentals and production costs involved for traditional marketing which mostly small business owners can’t even afford. On the other hand, advertisement costs are more affordable in online marketing through social media platforms, email marketing and search engines.
Studies show that, 40% companies are saving lot of money using digital marketing for promoting their products and services.
6. Higher Revenue:
As compared to traditional marketing techniques, digital marketing helps to generate higher revenue. Small and medium businesses that use online marketing strategies have a 3.3 times better opportunity of growing their business. According to the data by Google, companies that use online marketing tools have a 2.8 times better revenue growth expectation.
7. Better ROI for Your Marketing Investments:
With better revenues and better branding, Digital Marketing helps in generating an improved Return of Investments (ROI) as compared to traditional marketing. Digital marketing strategies are simple to analyze, enabling you to measure the effect on your targeted audience. The key to your growth through digital marketing is to develop an effective flow of targeted audience that converts into leads. The more traffic your business makes, the sooner you’ll see a return on your investment.
8. Improve Customer Experience:
Use social media to get connected with your customers on a personal level. Apply Engagement strategies so that you can build a conversation with your customers when they follow you on various social media channels. Respond to their inquiries, thank them for their patronage, and ask them for feedback. Customers feel more invested in your business when you share brand stories, customer testimonies and connect with them. As a result, customers will be attracted to purchase your future products.
9. Content Marketing:
The core of your digital marketing strategy is your content. Content marketing is very important since it connects and promotes all of the aspects of your digital marketing plan. The most important thing to keep in mind while promoting content to convey your messages, make sure that it is original and creative. Digital marketing promotes your content in forms such as blog posts, infographics, creative copies, videos, and social media posts.
10. Competitor Research:
In digital marketing, one of the most important activities is competitor research. This strategy is essential to stay ahead of the competition, especially amongst fast-growing companies. You can research and observe what your competitors are doing so that you can develop more effective strategies for promoting your brand. With the digital marketing tools available online you can analyze competitors and market trends. Competitor research will help you in identifying the ways you can improve the digital marketing strategy to grow your business.
The Internet is a massive network that helps businesses and individuals to interact with each other in a number of ways. What makes digital marketing so essential in today’s business world is its ability to effectively utilize its strengths and capitalise on opportunities. The convenience with which digital marketing can now be assessed helps even the newest and smallest businesses to compete with the larger and well-established ones. Unlike traditional marketing, these marketing campaigns may be launched with a low budget, whether it is a startup or a large business.