24 Apr 11 Benefits of Digital Marketing for your business to grow.
BENEFITS OF DIGITAL MARKETING FOR YOUR BUSINESS
If you want to expand your brand, increase your sales, and grow your business fast then you have to invest your money into your marketing to make it happen. You have to invest in Digital Marketing. Your business should be visible on the World Wide Web.
Because your potential customers have moved online, where they are actively searching for their products and services. Almost 91% of your future customers use search engines frequently.
Before going to the online promotion advantages, make a clear understanding of what is Digital Marketing?
Digital marketing is not just a platform or just a medium through which you can get a lot of followers or you can promote or product. It is the promotion of products over the internet or any form of electronic media. It leverages online marketing services in order to connect with the current and prospective customers such as:
- Search Engine Marketing
- Search Engine Optimization
- Email Marketing
- Social Media Marketing
- Mobile Marketing
- Content Marketing
So if you go by definition, Digital marketing is basically Internet marketing. It is also referred to as advertising and delivered through digital channels (social media platforms, mobile platforms, emails or web applications, search engines, and websites.
What is the necessity of digital marketing?
The task that is done online cannot be done without the help of Digital Marketing. So traditional marketing would include printing ads, phone communication, and also physical marketing. Now say, if you want to start a business and if you want to promote them. You cannot go to everybody’s house knock on their doors and tell I am going to start this project, would you please help me work on it? No.
Nobody in recent days does that. So one platform where you can actually put across your views, your ideas about what you are going to be doing is digital marketing.
Traditional marketing vs digital marketing
There are a lot of things in life that do their jobs for a while but eventually, we have to upgrade to something better like Orkut to Facebook, CDs to pen drives, wired internet connections to Wi-Fi, or maybe traditional marketing to Digital Marketing. Traditional marketing used to be the best some years ago, but now that the world has gone digital and marketers have started doing marketing online.
|Digital Marketing||Traditional Marketing|
|Cost is effective for everyone||Expensive and not affordable to everyone|
|Marketing is done globally||Local marketing|
|Targeted marketing – age, sex, Interest, competitor audience||Targeted marketing not possible|
|Real-time Metrics – Traffic, Leads, Engagement, Time spent on website/Blog, Conversion, Sales||Non-measurable|
|Immediate communication is possible anytime||Delays in communicating with the customers or anyone|
|Return on Investment is measurable||ROI cannot be measured because it’s not on track.|
|Instant results as per predictions||Delayed results, also not sure if it will work or not.|
|The Internet took 4 years to reach 50 million users||Radio took 38 and television took 15 years to reach 50 million users.|
|Retargeting based on your customer’s behavior on the internet||Non-retargeting|
|Tweak, pause, and stop the campaign anytime from anywhere.||Once out, not possible to stop|
|Accessibility, Target audience available on the phone||Non-accessible|
|Easy analytics||No easy analytics at all|
|E.g.: Websites, social sites, content marketing, Banner ads, Google ads, and video marketing, etc.||E.g.: Print Media, Broadcast media(TV, Radio Ads), Postcards, etc.|
Benefits of digital marketing for business
Let us talk about why you need to take your business online.
So far all the marketing strategies were just pamphlets, newspapers, radio, billboards, TV ads, etc. But here we are not able to measure our marketing efforts which means we were not able to decide whether that was profitable or not.
Here are some of the benefits of using digital marketing techniques that will surely help you make the right decision for your business:
1. Better ability to target your customers
This is one of the major benefits of digital advertising.
In digital marketing, you can keep track.
- How many products were sold via your website,
- how many people are calling you via google search
- people who add the product in the cart but doesn’t buy it, also
- People who would buy the product after adding it in the cart.
Digital marketing gives you this leverage that normal traditional marketing could never give.
You can target a specific audience very effectively. Tracking down his –
- date of birth,
- the profession of the person,
- Household income etc.
And show the ad only to him and nobody else. Here just think of how much your conversion chances will increase.
2. Brand awareness
You circulated pamphlets over 1 lakh, but the person who came was via pamphlets or newspaper it’s not easy to track. Or probably the piece of paper was just thrown away and they didn’t even come to know about your product or services. You will not be able to track down how many people threw it away and how many had actually gone through those. But the benefit of using digital marketing techniques is that you will come to know exactly how many people came across your content which is posted on social media. The amount of traffic visiting your website will increase your SEO rankings.
The number of views of the marketing content you posted can be measured easily through digital marketing tools. Also with the popularity of your brand, you will get to know that if better awareness needs to be created or not.
3. Ability to measure the outcome – Return on Investment (ROI)
The amount you are spending and in return how much are you get the money back. That is how many sign-ups of your brand is done, how much your products are being bought by the customers, how many services are sold, how many leads are converted all come under your return on investment. These can be measured through Digital Marketing Services.
4. Compete with Large Brands
You can compete with big brands through internet marketing. People will buy what attracts them the most in the market. Suppose there is a person in your nearby location who sells a certain product and if you start seeing their ads on Facebook or any other platform, his image will be changed and you will visit his shop for sure to check his product. He would think let’s try something new rather than going to McD every day.
5. More Cost-Effective Than Traditional Marketing
You can do Digital Marketing for your business at a very less cost. Any marketing content once posted can be easily boosted all over social media. The customers who follow your brand usually market your product even when offline. Promoting your brand or your video needs a very less budget to target a number of people. You don’t need to spend so much money in order to reach the highest number of people. Like on YouTube, you can promote a video at just Rs500 for a view of 0-1.4K.
6. Conversion Rate Optimization
They can convert your visitors into customers easily. The targeted audience when visits your website are more likely to get converted into your customers. Just use impressive digital marketing tactics. You can start, pause, and stop your marketing anytime and anywhere you want. Your customers are easily accessible. You can reach them through social media, emails, mobiles, and any medium you want. However, easy interactions increase conversion rates.
7. No boundaries in your business-Wide Range
One of the Internet marketing strategies is through digital marketing you have a wide range of customers. There are no boundaries for your business. Suppose you are in India but you want to advertise your product or services in the USA. One of the major Benefits of Digital Marketing is, sitting in India you can promote your business to the US easily.
8. Track Your Competitors
You can even check what your competitors are up to. You can track down what backlinks your competitors are using. By tracking them down you can reach out to more customers and find out the marketing opportunities and gain a stronger competitive advantage.
9. Higher Revenues
Ineffective Digital Marketing technique if you are spending less money and approaching more people that means you will get maximum revenue because people will come to know about your business very easily. In online marketing, as you can easily know the customers’ purchase patterns and know the interest of the target audience, so with more effective advertising of your brand you can maximize your revenues.
10. Real-Time Results
In traditional marketing, the results of your promotion may or may not be effective. Yet you have to go on trying. You won’t know the outcome of advertising until at last. While in online marketing you get to know things in real-time, you instantly come to know how effective your promotion is, your strategies are working or not. You get to know the amount of traffic to your site, the conversion rate of your customers, peak sales, decreased sales, and many more.
11. More trust and reputation of your brand
Digital marketing helps to gain trust and build the reputation of your business in front of the customers. More they see you online, with proper feedbacks and you interacting, the more they rely on your authenticity, and the more your business grows with new opportunities.
Over 30% of the world’s population is on the internet. The internet helps to reach more people globally than any other medium. The internet is replacing all the other methods of advertising like newspapers, Television, Radio, Magazines. The face of advertising has changed. Digital marketing is becoming the latest trend of ineffective advertising – social media marketing, mobile marketing, online advertising, online PR, search engine marketing.
Over 90% of corporates use internet Media. 85% say it’s given their business more exposure. A new member joins the social media networks every week/day/hour.
However, Digital marketing is a way of fast, effective, and low-cost advertising.