Technology is integrated into our lives more than ever before. We own smartphones, conversational AI devices such as Amazon Alexa and Google Home, laptops, and tablets. With so many people online, it’s essential for businesses to be online as well. As our online presence continues to grow, the way we make online purchases will continue to evolve. Digital marketing is important because more and more consumers are online; digital marketing is an immediate way to reach them.
Digital Marketing levels the online playing field and offers equal opportunities for all kinds of businesses. It is no more like the old days scenario when multinationals and big business houses mostly embraced Digital Marketing. Now, Digital Marketing really evens the odds, giving little and medium businesses the opportunity to compete against the established businesses and draw in their share of traffic.
The group of potential customers that are found online is a much larger group of people than you are likely to be able to attract locally. Using digital marketing, you can reach an enormous audience in a way that is both cost-effective and measurable.
Other benefits of online marketing include:
- The ability to interact with your prospects and learn exactly what they are looking for
- The ability to reach a global marketplace
- You can save money and reach more customers for less money than traditional marketing methods
- Get to know your audience and allow them to know you personally which can help to create brand loyalty
- You can track responses to your marketing efforts immediately
For your business to be successful, you need to pay attention to what your competitors are doing and learn from it. Think of your competitors not just as someone that you are planning to beat, but as people who have something to teach you. When you look at what your competitors are doing, you will get some idea of what is working and what isn’t working. Most likely, whatever type of business you are in, your competitors have established a web presence. What kind of content are they using? Are they blogging, or are they using a lot of graphics and videos?
Let’s take a look at why your business needs digital marketing to grow and thrive.
Reaches People Where They Spend Their Time & Money
In 2018, the average Internet user has at least 7 social media accounts. That’s up from 3 just 5 years ago. 97% of US adults under 65 are on social media at least once a month. The vast majority are on it every day. Social media is strongly preferred as a means of customer care. Although as many as 89% of customer messages are ignored by businesses. 22% of the world population is on Facebook. 62% of people in the US are there. 76% of Facebook users and 51% of Instagram users are on it every day.
30% of people on social media mention a specific brand when referring to milestones in their lives. Gen X is slightly more likely to interact with a brand on media than millennials. The trend right now is the average person spends over 2 hours a day on social media. Social media marketing and advertising are only a piece of digital marketing. But it’s a very important one.
Social media advertising allows you to narrow your target audience Use the data they’ve collected about their users. Tell Facebook, for example, to only show your ad to people with a very specific recent behavior, interest, location or other identifiers. When you do targeting at this level, you create an ad that’s highly relevant to your target market. Because it’s so relevant, it connects on a level that more general advertising can’t. This connection gives it the ability to influence decisions.
It’s not necessary to spend thousands on one advertisement, you can start with small budget and you can run ads indefinitely. So you can easily modify that ad to connect with different groups of people. You don’t have this level of control over who sees your ad with any other form of marketing.
72% of consumers prefer that businesses use email to communicate with them. This gives people a sense of control that makes them more comfortable signing up for your emails and buying from you. If they don’t like what you send them, they can just unsubscribe.
But when you send them content that is highly relevant, they stay on your list and continue to buy again and again. You can see where in the importance of digital marketing lies in a repeat lifetime customer. There are basic programs that will allow you to add a person’s name or certain information automatically to an email. But we’re talking about a much more advanced approach that’s proven its ability to get results for our clients, like the improvements in the chart below. That’s email segmentation, automation, and personalization.
Digital Marketing has the highest ROI of any marketing method. It can get a whopping 3800% return. That’s $38 in revenue for every $1 you spend. About 20% of companies are seeing an ROI of $10 to $1 spent.
Content marketing can generate 3X the leads for about 62% less than traditional marketing. Of course, when we say “lead” we’re not just talking about website traffic. These are people who are very likely to buy your product and become loyal customers as you nurture that relationship.
It’s clear. Businesses in the modern economy need digital marketing to compete. Online is where the customers are. It’s where they prefer that you reach them. Online is where the modern buying process begins.