Digital marketing which is also known as internet marketing is a cost-effective marketing method that uses various digital channels to reach your customers anywhere they are on the web.
It is considered to be a more targeted, measurable, and interactive marketing method than traditional marketing.
Do you have any digital marketing strategy to grow your business?
If your answer is NO, then you are keeping a large portion of your target customers away from reaching and knowing about your business products and services.
Digital marketing is an important aspect of a successful business, it has numerous benefits and when done right it increases businesses revenue while spending less.
Today, I will talk about 5 reasons you should include digital marketing in your business marketing strategy.
5 Reasons Your Business is in Need of a Digital Marketing Strategy.
1. Exposure to Target Audience
The online marketplace is consistently becoming more and more competitive for businesses.
Presently, more than 70% of people use some form of digital tools to communicate and look for solutions to their problems because of this many businesses are already engaging with their customers digitally to increase their business profit and brand awareness
Digital marketing gives your business the advantage to use various digital display ads, SEO, and social media marketing platforms to communicate and advertise to your target customers anywhere they are online.
You will also be able to reach and target your customers across multiple digital devices (Desktop computers, tablets, phones e.t.c) and even reach them while they are using mobile apps on their phones or playing games on their phones.
Your business target customers are like an empty auditorium that you can fill with the right people that are already looking for your business as a solution to their problems and digital marketing makes it easier and faster for you to find and reach your target customers.
Are you looking for people that are interested in property? There is an online audience for it.
Did you want to reach people that want to buy a car? There is an online audience for it.
Did you want to reach top CEO of various companies? There is an online audience for it, or did you want to keep it general and want to reach a certain geographical location, age range, or gender? There is an audience for that too.
2. Success Measurement
When it comes to traditional methods of advertisement it is very difficult and often takes several months to analyze how your business advertisement campaign performed.
With digital marketing, you will be able to analyze your business marketing campaign a few days after starting your marketing campaign or a few hours after starting it.
With the available digital analytic tools like Google Analytics, you will be able to quickly analyze and access your customer’s demographics and have a better understanding of how they are engaging with your website and with your internet ad campaign.
This is also why it is important to know what you want to achieve with your digital marketing campaign.
You must have a goal in mind, to be able to know if your campaign result is positive or negative.
Example of Digital Marketing GOALS
Your business marketing goals don't have to be complex or confusing. Here are a few examples of goals, and the type of Digital Marketing metrics you should monitor to ensure the result is positive and bring in income.
- Brand Awareness – You should focus on your ad campaign impressions and also optimize your ad campaign to keep your cost per thousand (CPM) impressions low and reach more target customers.
- Generating More Leads – Another thing to focus on is your business website click-through rate (CTR) and conversion rate (CVR). You should try to maximize both in order to increase your business sales revenue.
- Online Sales – If you have an eCommerce website you should monitor your sales and cart abandonment rate.
These are few examples, but one of the best ways you can set a goal for your business is to start with the end in mind.
What do you want to achieve as a result of your marketing campaign?
Let me also draw your attention to the fact that it is not feasible for the same marketing campaign to have multiple goals, this is due to the fact that optimizing one set of metrics might have an adverse effect on other metrics.
An example of what I am trying to point out is that- to increase the click-through rates of your campaign, you will need to lower the impression of your ads delivery, which is against the goal of achieving brand awareness for your business.
3. Competing With Big Organizations
Digital marketing is the only marketing method that levels the playing field between small, medium, and large enterprises.
If you are a small business owner or if you are just starting out, your marketing resources might be limited and you are likely to also have a limited marketing budget but with digital marketing, you can create a cost-effective, buzz-worthy campaign that will compete with the big players in your industry.
And because you are able to easily measure your campaign success, determining your campaign ROI is possible.
Your business's low-cost campaigns can be a success while spending a few bucks of dollars a day, hyper-targeted at the target customers that are already searching for you online.
As you begin to have positive reports, you will increase your campaign budget to accommodate your business goal which is the beginning of the snowball effect (small significance to larger potential)
Apart from spending on ads, SEO is also a cost-effective method of competing with the big brands on the search engine result pages.
It is a long-term strategy that will bring organic traffic from your target customers to your website.
One good benefit of SEO is that it works all year round and brings customers to your doorstep even after you have stopped your SEO campaign.
4. Building Your Business Relationship and Reputation
Through the monitoring of your business's digital ad, you will have a direct connection to your target customers that are interacting and reacting to your business.
By monitoring your marketing campaign you will be able to share your customer’s accolades, respond to their complaints, solve any problem they might be facing, answer their doubt questions, manage online crises, and discover your business trends, all while you are still developing a voice for your business.
As the business interaction between you and your customers increases, your business reputation will also increase with it.
Your customers will begin to trust you more, they will have trust in you as a solution to their problem and this trust can turn into them referring you to their close relatives.
5. It Can Generate Better Revenue
According to research, businesses that are making use of digital marketing strategies have 5 times better growth revenue expectancy than those that don’t have a digital marketing strategy.
When done right, an effective digital marketing campaign delivers higher conversion rates and advertising techniques can also deliver lots of profitable leads to your business, and more business leads translate to higher business revenue.