Digital Marketing is all about reaching your audience at the right place, right time and with the right message. With recent technology and digitization, your best strategy would be to meet your customers online; the one place where more and more of them are spending much time researching and buying products.
A main advantage of digital marketing is that you can reach a targeted audience in a cost-effective and measurable way. Contrary to what many small business owners and entrepreneurs think, digital marketing is not as complicated and would yield immeasurable results for your business. The efforts will be worth it.
Digital marketing can also be applied to any industry. It has the ability to provide you with quicker and effective results due to its interactive nature. There are several benefits digital marketing offers to a business. I’ll list some key benefits below to make you understand the importance of adopting digital marketing strategies, tools and techniques for your business going forward –
Reach customers easily
Digital marketing presents opportunities that weren’t viable or even possible with traditional marketing. In a nutshell, implementing digital marketing for your business is you clearly preparing your business to meet the future.
Digital marketing has the potential to transform the way that you reach and engage your customers. You can reach thousands if not millions of individuals. If your targeting is done right you can reach the people who will most likely become your customers. This will in turn influence other people to buy as well. With at least 80% of consumers using the Internet to search for information and some making buying decisions instantly, these are business opportunities you don’t want to miss out on.
Research has it that over 70% of online experiences start with a search engine. Before consumers even know what product or service they need, they are going to the search engines to look for answers to their questions and to learn more about their challenges. Knowing this, you can place search and display ads on Google, Yahoo or Bing. Doing this shows your ads to people just as they’re searching for certain keywords that describe your business. This presents a great opportunity for your businesses to connect with potential customers. Also, to educate them during the beginning stages of the buyer’s journey; i.e. creating relevant and engaging content that is optimized for search engines.
In its totality, digital marketing is an excellent source of developing customer’s interest towards your business/product as well as services.
Trackable and measurable
One of the top reasons why digital marketing has succeeded in surpassing traditional marketing is the fact that it offers measurable results. You can hardly measure marketing performance from traditional advertising; the flyers, billboards, commercials or business cards can’t readily be quantified.
With digital marketing, campaign results can be tracked and laid on the table for all to see. You can get reports with numbers that tell you how many people saw your ad, number of times they saw it, how many opened your email, clicked on a specific link and lots more. This information makes it easier for you to know what works and what doesn’t. So, you can focus your strengths on areas that bring results.
Web analytic dashboards like Kissmetrics, Google analytics, Adobe Insight, Statcounter, Mixpanel etc, will show you what is happening on your website. Use this information to improve users’ web experience and make strategic changes that will impact sales or conversions. In essence, you have the opportunity to monitor your business performance and metrics. Examples of these are unique visitor, bounce rates, top traffic providers on the site etc.
Google analytics is one of the most popular and useful analytics packages available today.
Build brand’s trust and reputation
Leveraging on digital marketing to build trust for your business is important. So how do you build this trust? Start by using content marketing in a tactical way. The moment you start to publish and share informational and valuable content, you begin to attract potential customers to your brand. With this content, you should aim to build a permanent relationship between your brand and your target customer. This will make their mind grow with a desire to take an action e.g make a purchase. Use content to tap into their emotions and in creating a connection that strengthens with repeated exposure.
You can use your social media accounts to advertise your products and share testimonials from satisfied customers. This helps in building your brand’s credibility. The more reliable you come off as, the higher your trust rate.
Unlike in traditional advertising/marketing where the bigger companies have large ad budgets and can take up prime insertions to promote their businesses, digital marketing is a level playing field for all allowing businesses of all sizes to gain exposure online. You have liberty to compete head to head with big brands and larger companies. You can also market your products and services nationally or even internationally. This allows you to find new audiences for your products and services.
With web analytics and other online metric tools, you can track your business. Also, you can track the business of your competitors; you get to know what they are doing, their online strategies and what’s working for them. You can then improve on them and also incorporate into your business. Capitalizing on this can give you an edge over your competitors, help you cover more grounds and attract more buyers.
With SEMrush analytical reports and tools, you can evaluate a bunch of high level metrics and online presence. The snapshot below analyzes the organic search, paid search, backlinks and display advertising of intense.ng domain
Higher ROI from campaigns
In comparison to traditional marketing, digital marketing is relatively cheap. You can reach as many people with a little amount of money. For example, $5 can be used to start a digital marketing campaign with which your ads can be viewed by over 1,000 people within your target audience.
If you have the experience in optimizing digital marketing campaigns, you can further reach a larger audience at a lower cost. With tactical use and implementation, you can gain a better return on your marketing investments. This is good news for you as an entrepreneur or business because this way you can craft an online identity without spending much money.
Screenshot of a client’s campaign. Cost per Lead Acquisition was $0.08 (N30). If 20% of them convert with customer value of about N5, 000, that’s ROI of 35%
However, having a long-term online marketing success does require creative, innovative ways to get noticed by your targeted audience which in turn converts into profits for your business.
Affords business interactions between brand and customers
Digital marketing allows you to get feedback from customers. It also helps you know what they are saying about your products and be able to interact with them. In this social age where customers are quick to result to social media either to praise your brand or to give it a strong lashing if they’ve had a bad experience. With digital marketing you get fast feedback on the acceptance of your business image and also there’s an opportunity to re-strategize. You don’t want to miss what your customers are saying about your business.
In a survey by StarTek, a customer engagement company, it was discovered that four out of five find it easy and convenient to communicate with brands through social media, email or chat options. Also, it was discovered that out of 1000 respondents who use social media to contact a company, 80% had a positive customer experience
Increased Conversion Rates
By conversion rate, we mean the number of customers that complete a business transaction in relation to those that visited your website. By using digital marketing tactics such as paid ads, SEO, display advertising, you’ll be able to reach your target audience and monitor your conversion rates accordingly.
According to Hubspot, utilizing major tools of digital marketing like; Search engine optimization, Social media marketing, Retargeting and Email marketing, generate quick and effective interaction with targeted audiences and delivers higher conversion rates. Therefore, the more the conversion rates, the better your bottom line.
Higher conversion rate comes by optimizing your website proponents to win over customers who are ready to spend and buy your products or service.
As earlier said, there are several advantages digital marketing offers to your business. This ranges from giving your business more exposure, increased sales and profits, creating long-lasting connection between brand and customers amongst others. Keep these seven key benefits in mind when marketing your brand; you will find it very helpful in determining how to spend your marketing funds and how best to strategize when it comes to marketing your products online.
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