How Digital Marketing Can Boost Your Business?
Made possible by the availability of reliable internet, customers and businesses are closer now more than ever. To harness the power of the internet, businesses are now switching from the traditional route of marketing to establish their presence on the internet.
A business can definitely run successfully offline; however, the scope to grow as a business is comparatively higher with a strong online presence. With more customers opting for online shopping, choosing to pay utility bills online, hailing online cabs, and increasing activities online, it is understandable that a business can find more prospects online than offline. Thence, digital marketing has a cardinal role to play in the success of a business.
However, does this imply? That simply having a website or launching a Facebook page can make a lot of difference? The answer is- No. This is because, in the digital eco-space, change is the only constant. Thus, having an ‘advanced’ and ‘flexible’ digital marketing plan is very important.
Here in this blog, let’s check out how effective digital marketing strategies offered by eminent digital marketing service providers can become the backbone for a successful business.
Why Digital Marketing is Important for Business Success?
Digital marketing provides a host of advantages to business enterprises from launching a business online to building its presence gradually. Below, we have studied in detail some of the benefits of digital marketing;
- Locate target customers
As per the CISCO Annual report, it has been projected that there will be likely 5.3 billion total internet users by 2023, which in terms of global population is 66%
If you think cautiously, you can understand that your customers can be located anywhere in the world. So, if you are only using the traditional channels of marketing to reach out to your customers, you are missing out on a lot. Digital marketing can help you to break the barriers and help you to reach out to your customers conveniently.
For instance, just by launching a digital ad, you can target your leads or potential customers across the globe. Similarly, you can also, target a smaller group of audience by tweaking your ad targeting settings. Also, social media platforms like Facebook, LinkedIn, can instantly give your business global market exposure and expand your target base of potential customers. However, with traditional marketing channels, like print media, TV ads, Radio Ads, your target will get narrowed down and you will have limited control over who views your advertisements.
- Reach potential customers at the right time
Unlike traditional marketing, digital marketing provides enormous scope to target potential customers at the right time. For example, when you visit an application store and browse certain services/products, the company with the help of advanced digital tools can record and store the data based on your browsing history. This information is then, used for sending push notifications in the form of personalised messages, offers and new arrivals for a stipulated time period, based on the product/services you have explored. Similarly, after you have visited certain sites to explore the products and/or services, you may notice display ads, video ads, etc., of similar products and services appearing on other sites you are visiting like, when you are spending time on social media platforms or watching videos on YouTube. This is called remarketing, and a company utilising digital marketing has the advantage of attracting prospects to revisit their website and complete a purchase. Also, digital marketing enables marketers to target prospects according to the stored location and region data and send festival centric customised product/service recommendations.
In comparison to traditional marketing, digital marketing channels are way affordable. Offline marketing channels like print media or advertising on television can cost you more than digital marketing channels like, Search Engine Marketing that enables you to publish paid ads like Google ads, advertising on social media and video advertising etc. Furthermore, in terms of coverage, digital marketing offers more scope than, its counterpart traditional marketing channels. For instance, promoting any events like sports using paid digital advertising will provide more coverage, because you can run the advertisement over a period of time at an economical rate. The repetitive advertisement also helps in positively influencing the decision of the prospects. On the other hand, in the case of traditional marketing, the cost of advertising is higher whether you are using print ad medium, TV advertising medium or other offline advertising mediums. This is why the offline ads are often discontinued and unlikely to influence the prospect’s decision like digital marketing.
- Measuring Marketing Results
Offline marketing offers little scope to measure the marketing results. For example, if you post advertising in a newspaper, you will be unable to find out, how many people have viewed the advertisement. However, in digital marketing, you are not limited by such constraints and can measure everything that is important. For example, if you launch a Google Ad campaign, you will be able to study the results such as the number of clicks, impressions and the click-through-rates (that is the quantity of clicks received on your ad divided by the number of times the ad is displayed) with the help of the reports on the platform. Since, you also, have the scope to know, which ads received more clicks, and which did not, you can make crucial decisions like where to invest and where you should not. Also, by using analytical tools you will be able to learn, about the shopping habits of customers like, for how long they are conducting research before proceeding to purchase/avail your products/services and so on.
Thus, marketing your products and/or services on a digital platform will give you more control over your business results compared to traditional marketing.
- Better Customer and Company bonding
Forming a valuable relationship with customers has always remained on top of the business owners’ priority list. Unlike traditional marketing where most channels offer one-way communication, digital marketing encourage and enables two-way communications between the companies and the customers. A two-way communication channel helps two parties to reach out to each other conveniently, which is beneficial for the long term as it supports building a trustable and long-lasting relationship between the two parties. Retained customers, due to the sense of loyalty can make more purchases from the same brand and can also likely to, recommend products and services in comparison to new customers. Some of the examples, how digital marketing helps to form a lasting relationship between businesses and customers are;
- With the help of social media platforms, customers can connect with the company and send product feedbacks, raise queries, and etc,
- Also, by sending personalised email offers and messages like discounts and recommendations, businesses can improve their relationship with their customers,
- Events like digital workshops encourage customer interaction and lead to exchanging of valuable inputs between the business and customers
With a proper digital marketing strategy, businesses have the chance to achieve a higher growth rate than by following a traditional marketing strategy nowadays. After studying and understanding the benefits of digital marketing strategy if you think your business needs a digital marketing plan, then get help from premium seo services and do the needful.