The world of marketing is experiencing a shift in terms of philosophy. Today, traditional advertising methods such as Hoardings and boards are no longer the norm and we see many companies exploiting digital resources to get people talking about their products.
Digital marketing has emerged as the most important sub-domain in recent years, thanks largely to the fact that people are increasingly sitting in front of a computer or tablet, and are always with their mobile phones. Companies now focus on advertising their products on the most frequented websites and on social media. The techniques they use vary from the very obvious pop-up ads, to the more subtle memes on 9gag and posts on Buzzfeed, from videos on YouTube to something as simple as being the first hit you see on your next Google search. And it’s working for them, as companies now prioritize digital marketing over any other form, evolving into the first step of any shopping experience.
In a world where tech companies are sprouting up from all corners of the world every second, it is simply impossible to rely just on traditional methods like print advertising and word of mouth to get people talking about your company and brand. Building a reputation online has helped companies like Xiaomi, which completely disowned the concept of marketing using the traditional techniques gave themselves a major competitive advantage by optimizing their digital marketing strategy, and it worked well for them. They went from being a small startup to becoming the largest phone manufacturer in China in less than 5 years. Impressive stats, and they are just the tip of the iceberg when showcasing the power of an effective digital marketing strategy.
So without further adieu here are 10 reasons why to devise a digital marketing strategy to give your company a digital marketing competitive edge:
1) It helps you generate leads: A well-strategized digital marketing strategy has all your individual interactive marketing strategies working together- your blog, your website, search engine marketing, social marketing, e-mail, PR services, etc. Instead of working on generating leads separately, each channel supports the others, increasing engagement and customer interest. This will help you generate more leads with considerably less effort!
2) It helps to customize your marketing based on your customer: Online marketing gives you the ability to divide your target market according to consumer demographics, behaviours, interactions and other characteristics. For example, if you own a business like a food truck or restaurant, you can choose to make your online marketing campaign reach only Facebook or Google users who are residing near your city and interested in food and dining. Local search engine optimization using Facebook and Google to create targeted ads and other localized online marketing campaigns help businesses increase their chance to be seen by the right customer, each and every time.
3) It allows you to create and modify your strategy on the fly: Internet marketing is easier to and develop and modify than more old-fashioned marketing like radio, Television and print advertising. For instance, an article published on your website’s blog is easier to edit than an article published on a magazine or newspaper. Moreover, online ads like Google AdWords and Facebook Ads can be run, paused and stopped anytime. With these features, you have the power to experiment with the various permutations until you get the best, most efficient and effective digital marketing campaign.
4) You’re constantly generating smart data: From strategy planning to performance report generation, digital marketing provides intelligent, dynamically generated data in real-time for business owners and marketing agents. You can simply do a Google search to learn more about your competition according to your keyword or niche to come up with an intelligent marketing strategy. You also have free tools like Google Analytics and Facebook Insights that generate readily available information to measure your company’s performance, including its generated traffic and earned conversion rates.
5) It combines the best of tradition and innovation: Digital marketing is considered to be a very modern concept and is very innovation-driven but it doesn’t compromise the fundamentals of marketing, and focuses greatly on customer satisfaction and feedback. It utilizes technologies to incorporate traditional techniques into digital applications. The most important reason you need digital marketing is it helps you find the best way to make your customers happy, and this is exactly what make your digital marketing strategy a success.
6) It saves you money: Small businesses are called so because of their relatively small budgets and this means they need to be very strategic in their approach to marketing. By allowing businesses to target exactly who they want to maximize client conversion rates, small business owners report savings of up to 40% in their marketing budget, according to Gartner’s digital marketing Spend report. Big savings indeed!
7) Connects you with the mobile customer: 91% of all Americans said that they have their cell phones near to them and within reach at all times. Now imagine each one to be a potential client! Mobile technology, with its intrinsically addictive nature is increasingly affecting the way consumers behave and if your company builds games or other applications, advertising on the biggest mobile games can help you get millions of people to know about your app in the span of just a few hours!
8) It helps you generate higher revenues: With greater savings and lower costs, businesses can reap the benefits of digital marketing like never before. Digital marketing strategies have helped generate up to 2.8 times better revenue growth for small businesses, according to a study conducted by IPSOS Hong Kong. There’s an even higher ROI from your work in the field of Digital Marketing, and according to the HubSpot report, Digital marketing can help your business generate better cost-per-lead compared to traditional methods and even telemarketing. It can help you increase your ROI by up to 300%!
9) It can help you compete with the big guns in the industry: Digital marketing not only allows you be at par with your competitors, and allows to go head to head with much bigger players in the industry. It is now possible for you to level the playing field against companies with much bigger budgets by using an innovative and effective digital marketing strategy, thus ensuring your brand’s growth and bringing in healthy returns for a relatively small investment from your digital marketing budget.
10) Your competitors are probably using it against you right now: There’s a huge possibility that your competitors are already using engaging content on their blogs, optimizing their visibility on search engines, gaining social media ‘likes’ and followers, earning the trust and confidence of the market you share, and converting any of your potential customers into their loyal customers. If you’re still hesitant about investing in digital marketing, make no mistake, your business will be left behind in its competition.
Even if you think your organization is too small to take advantage of Digital marketing, using simple techniques like advertising and promoting on social media such as Facebook and Twitter can give you impressive results at a very low cost. By using the filters available that allow you to target exactly the kind of customer you want based on their age, gender and location, you can devise the perfect strategy to help you take your business, no matter how small, to the next level.
Traditional marketing methods like print advertising and telemarketing can still be very effective nowadays. But to improve your marketing strategy and to help your company remain competitive, you absolutely need to make digital marketing the primary focus of your marketing strategy. If you still haven’t harnessed the power of digital marketing for your company, you may miss out on a lot of golden opportunities that may cost your company dearly. Remember that nearly each and every one of your potential customers is waiting for you in the digital world, and if you don’t use the power of digital marketing to get word about your company spread, chances are, they may never find you.