When small businesses get started, their focus is often on how to get their first group of customers through the door. They may rely on traditional forms of advertising, such as flyers, banners & billboards. They may trust that since they know they offer a good product or service, it’s only a matter of time until customers will find their way to them. Except customer habits have evolved.
Every day, we spend hours on social media, surf websites and search for what we need on Google. Yet, nearly 50% of organizations don’t have a clearly defined digital marketing strategy.
In this post, I will share why digital marketing is essential for your business. But first, what is digital marketing?
What is Digital Marketing?
Digital marketing is the advertisement of goods and services using digital technologies, primarily on the Internet, but also phones, display advertising and every other digital media. Digital marketing platforms are internet-based systems capable of generating, advancing, and distributing brand quality across digital channels from manufacturer to customers.
The emergence of digital marketing has transformed the way in which companies and corporations use marketing technologies. Digital marketing strategies are becoming more prominent and effective as digital technologies become increasingly integrated into marketing plans and daily living, and as consumers use phones and computers rather than visiting actual stores.
Number of social network users worldwide from 2010 to 2021 (in billions) from Statista 2019
If your business does not focus on digital marketing, you’re simply giving your competitors the opportunity to move forward. More than 60% of prospective customers are online and less than half of customers claim by searching online on their devices they found a new brand or product. It is estimated that the global e-commerce market will hit $4.5 trillion by 2021.
Here are the 5 main reasons why digital marketing is essential for your business:
1. Builds Customer Relationship and Connection
Having an online marketing presence allows businesses to interact almost immediately with customers & prospective customers after a campaign/post is launched. Also, you can drill deeper into your audience’s tastes to create relevant future messaging which is not possible by placing advertisement in newspapers and magazines because it doesn’t provide real-time feedback and conversation the way digital marketing does.
2. Digital Marketing is Measurable
Peter Drucker once said “you cannot manage what you cannot measure”
How many people saw our Ads? How many people purchased our products from our Ads? This issue plagued advertisers using traditional channels (like billboards and newspaper ads) for years.
Today, thanks to digital marketing you can know the exact times people saw your ads online, the number of people who saw it, the number of people who proceeded to click on a link leading to purchase and so on. You know when an ad was successful or failed.
You can calculate their ROI in real time by being able to split-test or easily compare one ad with another. You can also use digital analytical tools to study your rivals and assess their market size and performance. Isn’t this amazing?
3. Digital Marketing Generates Leads, Boost Sales
The buying process is made up of three main stages: awareness, consideration and decision. Prospects recognize that they have a problem or need during the first stage and start to look for a solution (this is where many people usually come online to search). They start to consider all potential solutions to the problem during the second stage (with some work on your part, they may have found your product online). They evaluate different providers in the third stage to see which one can solve their problem better. By investing in owing a website, optimizing it for Google & maintaining a respectable social media presence, it is safe to say that in a few months, you can expect your income to grow.
4. Digital Marketing Keeps You Flexible
Another attractive aspect of digital marketing is the flexibility that come with and the multimedia opportunity it creates. All past methods were limiting. Examples:
- Radio ads were audio only.
- Newspaper and magazine ads used static images and words.
- Television allowed audio, video, and text, but no response and limited tracking.
With billboards, you never knew who noticed your sign or how they might respond to it and to make your ads reach a wider audience. You have to run ads in different media outlets across different states. But with digital marketing, you can create an ad right from your office desk and widen the coverage to reach and target the whole nation. You can engage most of the senses, you can set options to allow your audience to interact with your brand and this is absolutely flexible.
5. Digital Marketing Is Cost-Effective.
Unlike traditional channels, digital marketing expenses are incurred only when they are effective. By “effective,” we mean one of the following:
-You pay only when you get a click (known as Pay Per Click Advertising)
-You pay only when someone signs up
-You pay when someone purchases an item
-You pay only when you’re connected directly to your target audience
This makes digital marketing more cost-effective than other traditional advertising channels. It also allows small businesses to compete with market leaders with smaller budgets.
Compared to advertising on TV, radio or through direct mail, digital marketing costs considerably less and reaches a much wider audience at the same time. Using digital marketing to promote your small business will help you to have a much better chance of business success.
Ready to launch your digital marketing strategy but don’t know where to start? Get a free consultation with us firstname.lastname@example.org, 08037285780, 08109467271.