Learn the role of digital marketing for your business.
As technology keeps getting better daily, the internet is also growing from strength to strength. As such, various businesses are working assiduously to keep up with the pace. They are also benefiting significantly from the advanced role of digital marketing in the modern world.
In the light of this, some companies are just implementing digital marketing, while others are intensifying their existing marketing strategies via various digital means.
However, what do we understand by the role of digital marketing for businesses? Before we delve into this question, permit us to state some factual impacts of digital marketing.
- In 2018, more than 50% of all organizations possessed solidly incorporated digital marketing plan.
- About 80% of advertisers believe that the traditional form of promotion is not adequate anymore. Also, organizations’ income will expand by more than 30% before the end of the year if they utilize digital marketing.
- Over 80% of companies will increase their digital advertising budget, which may even exceed the IT spending budget.
- In collaboration with IPSOS Hong Kong, Google revealed that businesses using digital marketing generate 2.8 times better revenue compared to enterprises that choose not to use it.
Why Digital Marketing is Important for Businesses?
With digital marketing strategies in place, your business will become one of the incredible, lucrative, and productive components of the online marketing system. Over time, it is becoming more apparent that the future of marketing is digital advertisement. Soon, digital marketing will outperform the traditional form of marketing in all areas.
You will agree that there is a paradigm shift from the conventional way of doing things to modern methods globally. Nowadays, people tend to prefer online materials more than ever. Hence, businesses which are yet to integrate digital marketing into their business plan has to do so as soon as possible to benefit significantly from digital marketing.
According to Kevin O’Kane, who is the head of SME in Google’s asia-pacific, digital market is a rocket fuel that improves small and medium scale businesses.
Aspects of Digital Marketing
Digital marketing is a broad discipline. If you dig deeper, you will discover several aspects, each with its own distinct potentials and features. Most times, business owners and brands tend to combine two or more of these aspects into a customized digital marketing plan or strategy. These strategies increase the chances of having the desired results. Let’s take a look at some of them.
Facebook and Instagram Advertising
Currently, Facebook and Instagram boast a massive number of users. By leveraging Facebook Ads and Instagram Ads to full effects through digital marketing, you get to present your business to your target audience and the world in general in a quick, smart and productive way.
Google and YouTube Advertising
Without any doubt, Google is a force to reckon with when it comes to marketing. Digital marketing allows the use of Google Ads, among other marketing tools, to drive leads, and ensure that your business comes up on the front page of the most popular search engines around.
YouTube is another great avenue to expand publicity. Digital marketing can help to promote your business products and services to millions of subscribers using YouTube at almost every minute.
Email and Messenger Marketing
One of the oldest yet effective means of advertising is email and messenger marketing. An excellent digital marketing strategy will obviously involve email marketing – an excellent way of taking your business to the face of your potential clients and customers.
Conversions Rate Optimization
Driving leads and traffic is quite important. However, what is even more important is converting these leads and traffic into sales. There is no better way of getting expected conversion rates and results than maximizing digital marketing. You can conveniently advertise generate leads, optimize your conversion rates, and make more sales.
Role of Digital Marketing for Business
Digital marketing and advertising are forms of business campaign that are not only result-oriented but also measurable, speedier, with greater versatility. Let’s take a look at the crucial role of digital marketing for business growth.
Provision of Fair Opportunities for All Businesses
Every business that chooses to implement online branding and advertising has a fair chance to grow on the internet. In the past, only the massive business companies tend to enjoy digital marketing; however, presently, digital marketing is as crucial for the small and medium scale businesses as it is for the top companies.
These days, new, small, and medium enterprises can maximize digital marketing to get leads and conversions. One of the most significant benefits of digital media marketing is its ability to reach millions of clients without placing a single call.
Besides, compared to other forms of marketing, lead generation and conversions, which are components of digital marketing, performs better.
More Efficient Targeting of Mobile Clients
Marketing on mobile phones is one of the most contemporary means of disseminating information and data. And with the increasing population of smartphone users globally, the method is becoming a proven marketing channel.
In India alone, 90% of adults carry their smartphones near; a true indication of how well smartphones have become a principal component of our life. Hence, using digital marketing to target mobile clients is essential to increasing your business growth.
According to the eMarketer report, mobile phones have transformed from being an option between laptops and tablets to a component that influences the purchasing choices of customers.
More Cost-Effective Compared to Other Promotional Methods
Digital advertising provides an efficient and cost-effective platform to thrive for independent ventures that lack capitalization.
According to Gartner’s digital marketing spend report
- 41% of Marketers Say That Savings From Digital Marketing Are Reinvested
- Digital Marketing Spending Averages 2.5% of Company Revenue
- Digital Advertising Accounts for 12.5% of Digital Marketing Budgets
- Up to 50% of Digital Marketing Activities Are Outsourced
- 70% of Companies Surveyed Have a Chief Marketing Technologist — 80% of Them Report to Marketing
Furthermore, the report suggested that 28% of companies assessed will shift spending budget from the traditional marketing channels to digital promotion.
This suggestion was confirmed by HubSpot as the article disclosed that cost-per-lead is improved through digital marketing compared to other means of advertisement.
Guarantees Better Revenues
Asides the enhanced conversions generated from practical digital marketing strategies, digital marketing is also crucial towards getting an improved income. With the contemporary advertising method, you can learn about the vital aspect of your business, which you can improve to experience better revenues.
The chances of small and medium scale businesses to enhance their company will increase 3.3 times when they utilize targeting, lead generation, high-end conversions, and revenue generation. Regardless of the sector in which your business belongs, it will benefit from the better, greater, and prolific targeting that digital advertising offers.
Helps to Boost Targeting and Conversions
Digital branding and marketing are capable of controlling other marketing channels. With such capability, digital marketing can reach target audiences and ensures that result-driven engagements are achieved.
Digital marketing provides the sort of commitment which prospective customers want to see before they patronize a business. In fact, the manner in which you handle that commitment is key to the success of your marketing efforts.
By impressing your customers with real commitment, you will get to understand their needs and wants. In this way, you will be able to develop the much-needed trust with prospects while your business is growing.
Another importance of digital marketing to your branding is that accurate targeting leads to conversions. Most companies assess marketing achievement by calculating the rate of traffic converted to clients, leads, deals, subscribers, or endorsers.
In the most unlikely case where there is no conversion, all your marketing efforts will end in vain. However, with some conversion rate optimization tools, you can easily optimize the conversions.
Improves Trust and Helps to Build Stronger Customer Relationship
The role of digital marketing also includes its capability to drive and engage prospective clients who are ready to know about your business reputation. And if convinced beyond a reasonable doubt, they can affect a purchase.
If you promise a top-quality service and you deliver accordingly, it will help foster a good relationship between you and your clients. In fact, it can spur them into getting more customers who will approach your business site and become a loyal client.
In this way, you will be building a good reputation gradually as the satisfied customers are illuminating your brand to other people. As your business branding is enhanced, your online presence will become a web sensation. Eventually, new opportunities that increase your market reach and business growth will emerge.
Customer research is important for online marketing. It assists in assessing customer response rates, provides analytics for the result. This research helps you prepare for your subsequent digital marketing campaign in a better manner.
Nielsen global online consumer survey revealed that 90% of participants affirmed that information about a business collected from known individuals would be considered as genuine by them.
Helps in closing sales
To attract and convince prospects into making a purchase or request for a service, digital marketing uses some practical strategies to that effect. For instance, digital marketing offers call-to-action tool that shows what your website visitors should do. With some creativity, you can use call-to-action to transform prospects into clients.
While your website guests are surfing through your pages, the call-to-action show them what they can do, such as download materials, initiate a purchase or subscribe. Also, Digital Marketing offers some tools that can encourage prospects to make a positive move.
Finally, digital marketing will help tailor forms, messages, buttons according to the themes, designs, contents, and graphics of your pages to achieve your marketing goals.
Digital Marketing is the Future
“Being Digital is Being Global“
Digital marketing is the future and the scope of digital marketing is going to get bigger and brighter in the near future. Marketing strategies such as search engine optimization, social media marketing and PPC among others have worked excellently for B2B and B2C operations.
Popular digital platforms like Facebook, Twitter, Instagram, LinkedIn, you can reach to the audience of any corner of the world.
Digital Marketing Statistics(Source: HubSpot)
- Google is responsible for 94% of total organic traffic.
- Video content is 50 times more likely to drive organic search results than plain text.
- Voice is expected to be a $40 billion channel by 2022.
- Content marketing gets three times more leads than paid search advertising.
- 81% of B2B companies use Blog as a content marketing tactic.
- 88% of businesses with more than 100 employees use Twitter for marketing purposes.
- About 3.03 billion people are on social media around the globe.
- About 49% of businesses use some form of email automation.
Whether you run a business to business or business to consumer enterprise, main role of digital marketing is vital to grow your business online. However, one thing that is crucial to your digital marketing effort is learning the most recent digital advertising pattern that befits your business.
As digital marketing is evolving, and its framework is expanding, organizations need to keep up with the pace. Detailed understanding and coordinated practices of digital marketing will go a long way in helping you reach your business goals.
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