The benefits of digital marketing are no longer ignorable and an increasing number of businesses are opting to acquire one or more digital marketing aspects in their business strategy.
From the consumer’s perspective, researching and buying products online is higher than ever. According to Forbes, about 82% of consumers prefer to search online, while according to Tech Crunch, 79% of consumers purchase online.
Let’s talk about the benefits that companies can acquire by incorporating a sound digital marketing strategy in their business.
The most potent form of marketing
Apparently, one of the biggest benefits you acquire is revolutionizing the way you reach and engage with your customer base.
There are countless examples on the internet describing how businesses are reaching their target audience and influencing quality, increased conversions like never before.
Consider the example of Forever Diamonds, a Georgia jewelry company, it was successfully able to acquire and engage with its followers for less than $1 per engagement over an entire year, hence, elevating the foot traffic figures and registering similar conversions.
A cost-effective way to market your offerings
As businesses are opting newer ways to cut their costs, what could be better than employing a genuine cost-effective approach to market your products?
Through traditional marketing, it is very difficult for startups with limited budgets to fight the established names in the industry for ad space.
While the case with digital marketing is otherwise! Small businesses can now acquire the maximum output from their limited marketing investment.
For example, any small business can market its offerings to more than 1,000 people for as little as $3 and less through social media channels. On the other hand, the same amount of content exposure will cost you around $57 through direct mail and $28 via television ads.
The only costs that digital marketing brings along are the time element, in contrasts to a plethora of hidden costs associated with traditional marketing.
In other words, professional digital marketers are intelligent enough to admit that SEO, content marketing, social media marketing, etc. take time to provide results. At the same time, pay-per-click (PPC), social media, and display advertising have the capacity to showcase quicker results.
An easily measurable form of marketing
Are you sure that your marketing campaign is working well?
A question that every marketer is concerned with and the job only gets difficult through traditional marketing campaigns such as radio advertisement, emails, etc.
But every digital marketing endeavor is specifically measurable! Businesses can easily weigh up their performance over regular time intervals.
This is where digital marketing analytics come into play. Through data obtained in real time, you get to know which of your marketing elements or campaigns are working and which aren’t. Hence, providing you ample insights to make the needed adjustment for a better performance in the future.
Consider creating a social media marketing campaign for a new product and you intend to publish a wave of fresh posts regularly over a 3-week period. Through social media analytics, you will get acquainted on which posts acquired the maximum engagement from the followers and led to conversions. The insights will tell you on what should be continued as well as improved for future campaigns.
Targeting your ideal buyers
When a business purchases an ad in a newspaper or billboard space, it is similar to shooting an arrow in the dark where you hope to hit your target. Agreeably, there is some probability of success through traditional marketing techniques, but there is no match for the targeting opportunities that digital marketing offers.
Putting it simply, digital marketing allows businesses to know if the right target audience is viewing their content. With SEO you can see which users are searching the web for businesses, topics, and products and services similar to yours.
While PPC, social media, and display advertising inform you regarding the demographics and general traits of the people who are likely to be interested in your products.
The point of improving targeting is to target only those customers, who will be genuinely interested in buying your product or get you a considerable ROI from your marketing budget. With digital marketing, you don’t have to stress anymore on buying ads that won’t reach your true target audience.
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