As technology and the Internet continue to evolve, a lot of businesses are finding it increasingly difficult to come up with an actionable and measurable Digital Marketing Strategy to tap into the seemingly endless opportunity this digital development brings.
This is probably because the business is surviving based on the number of old or returning customers they have and so there is that confidence that they’ve become a household service supplier to these customers.
However, the reality is that with the way technology is advancing, a good number of these customers will move along with it digitally and if care is not taken, businesses that refuse to advance as well will be left behind while their competitors become new service suppliers to their customers.
Still not convinced that this reality is upon us? Well, here are the top 10 reasons why your business needs a digital marketing strategy.
- Why is Digital Marketing Important?
- What is a Digital Marketing Strategy?
- Role & Importance of Digital Marketing
- Benefits (and Reasons) of Having a Digital Marketing Strategy
- 1. Your Ads Reach People Where They Spend their Time the Most
- 2. Your Ads are More Focused and Targeted
- 3. Your Conversion Rate Will Improve
- 4. Gain Exclusive Insights About Your Competitors
- 5. Be on a Level Playing Field with Large Corporations
- 6. Spend Less, Save More
- 7. Enjoy Comprehensive Analytics of your Leads
- 8. Better ROI
- 9. Your Brand Becomes Trusted
- 10. Set Your Business Up for “The Internet of Things”
- Help with Digital Marketing
- In Summary
Why is Digital Marketing Important?
Before we dive into the top 10 reasons why your business needs a digital marketing strategy, let’s discuss why digital marketing is important.
By now you already understand that digital marketing covers all efforts and techniques used in marketing via electronic devices or the internet.
This encompasses social media marketing, SEO, content marketing, email marketing, etc. Any sort of marketing done online is basically digital marketing.
The growth of digital marketing in the last few years has been astronomical and this is because a large percentage of the world’s population is online.
According to some tech stats, in 2000, the average American spent around 9 hours online that year. Right now, majority of people spend as much as 24 hours a week online using their smartphones or other mobile devices.
In fact, many people spend an average of 30 minutes daily on Facebook, equaling 30 minutes of juicy advertising time for your business as explained in this infographic from Mediakix.
The rate at which people use the Internet keeps growing and it’s on you, the business owner, to tap into the opportunities therein.
Investing in a digital marketing strategy can be well worth it. In some marketing reports, it is implied that businesses that clearly execute a distinct digital marketing strategy have a 2.8x larger revenue growth projection.
Define the role of digital marketing in your business today or your competitors will tell motivational stories in the future of how they took advantage while your business sat on its butt doing NOTHING.
What is a Digital Marketing Strategy?
A digital marketing strategy simply refers to a laid-out plan or campaign to assist your business in achieving certain digital projections using tailored marketing channels including earned, owned, or paid media.
The digital marketing strategy contains every step you’ll take as you edge towards hitting your digital marketing target.
A well-structured digital strategy usually includes details on how a business should achieve their leads and sales targets. It would also include budgets for acquiring leads, converting leads, retention as well as growth.
Furthermore, it would highlight the benefits of using the selected strategy (usually to enhance the company brand) and it should list out and prioritize the audience being targeted for the campaign as well as the products or services that will be made available.
Role & Importance of Digital Marketing
According to Google in 2018, over 51% of people using smartphones have discovered a new company or product while browsing the internet with their mobile devices.
Still in 2018, Status Labs reported that the majority of people running searches on the internet have actually not made up their mind on what brand to patronize before deciding to search.
The internet is one large pool made up of potential customers for your business and it is your digital marketing strategy that will determine if your company will thrive digitally.
Notably, the good thing with digital marketing is that it grants a sort of fair chance to every business that wants to wade in the murky waters of online branding and advertising.
As such, it is no longer an elite champions league where only multinationals and big players can lap up choice leads.
The role of digital marketing is effective and equally important for both startups and small companies in the same way it is for mega-corporations.
Consequently, startups and small-scale businesses now have the means to engage in online advertising and lead generations along with conversions.
Those days where a new business would open down the street and the owner would step out sharing flyers about the business in order to build a list of returning customers are fast waning out.
These days, that money spent on flyers would be better invested in a digital marketing campaign that would draw in a more impressive retinue of customers.
One of the most obvious advantages of digital marketing is its ability to link up different clients from anywhere across the globe without the need for running a call center operation.
In addition, when compared with traditional methods of marketing and advertising, digital marketing’s lead generation and conversions are a more cost-effective option of advertising as you get to see the results of your digital marketing strategy in real-time.
Benefits (and Reasons) of Having a Digital Marketing Strategy
The benefits of having a digital marketing strategy cannot be overemphasized.
If you want to set your business on a positive momentum that keeps rolling in periodic ROI, then get yourself a digital marketing strategy.
Here are some of the benefits and reasons of a digital marketing strategy.
1. Your Ads Reach People Where They Spend their Time the Most
As of 2019, the average internet user has more than 6 different social media accounts compared to just 3 around 5 years ago.
Also, a whopping 97% of American adults under 65 years of age log on to social media at least once in a month. A good number of them from this percentage are on social media daily.
Your customer care solutions are best handled via social media. It is where most of your customers are and yes, people can buy your products there.
Unfortunately, simply creating an account on social media and sharing your content there erratically won’t be enough.
An effective digital marketing strategy will help navigate your content and service down to the consumers who need it so you can maximize your ROI.
2. Your Ads are More Focused and Targeted
How well can you control who sees your ad in a newspaper or other publication?
It’s almost impossible to do so as soon as the publication company starts distributing the newspaper.
The ad may very well be seen by millions of people but what percentage of these views are actually your target?
One of the benefits of digital marketing is that you can measure and trim down demographics to the number of people that your ad will suit the most.
Doing this means you get to create an ad that is highly relevant to the leads who get to see them.
And this is important because it connects on a deeper level than traditional advertising which can come across as sometimes annoying.
3. Your Conversion Rate Will Improve
There’s really nothing difficult about driving conversions from leads.
All it takes is an engaging digital marketing strategy and this is usually possible when the traffic is a well-targeted one.
Digital marketing lets you reach out to your customers in a unique way.
That two-way conversation you get to have with your customers or leads can go a long way towards converting them and even building a solid relationship between them and your brand.
Rather than hassle them with phone calls, reaching out to your customers online seems to work better with them.
A brief email explaining your service or product may be all you need to start a conversation that would lead to conversions.
4. Gain Exclusive Insights About Your Competitors
Part of the perks of digital marketing is that you can peep into what strategies your competitors may be using to outrank you in the online marketing rush.
In fact, it is imperative for any digital strategy to include competitive analysis as part of the steps towards achieving your digital goals.
Gaining insight into your competitors’ strategies gives you the chance to capitalize on the opportunities that may arise from their campaigns.
You get to have a broad view of what they are doing and can go as far as implementing it in your strategy to improve your conversion rates and gain a competitive advantage.
5. Be on a Level Playing Field with Large Corporations
This is the part of digital marketing that really interests many small business owners.
So, you own a small pizza outlet but can’t keep up with the likes of Domino’s.
With a well-implemented digital marketing strategy, you can push your little pizza business to drive more sales than you expected without bigger competitors gulping your potential customers.
The Internet remains an endless pool of potential customers and leads.
Keep your digital marketing strategy engaging enough and your small business might just end up being the one poaching customers from the bigger corporations.
6. Spend Less, Save More
When you consider how much you’d normally have to cough out in order to run a marketing campaign on TV, radio, or newspapers in the big cities, you’d agree that digital marketing offers a much cheaper option.
You can benefit immensely from a well-tailored digital marketing strategy while still saving on your budget.
A simple Google Ads or Facebook Ads campaign takes from your budget only what you can afford.
In addition, depending on what advertising option you go for, whether impressions or pay-per-click, you only get charged based on how many times your ad is viewed or clicked.
Now, that’s value for money.
7. Enjoy Comprehensive Analytics of your Leads
The best analytic you’ll probably get from an ad on radio or TV is that it ran at a set time that the media company believes most people would have seen or heard it.
But how about data from the behavior of targets who saw the ad?
That’s another benefit of having a digital marketing strategy because you’ll get to see explicit data if your targets actually saw the ad, if they clicked on it, if they shared it, or if they went on to make a purchase.
And this data helps you, in the long run, to decide how best to set your ad and its budget.
You may also get to learn about how people interact with your ad, what they do online, what makes them most likely to take any action, who spends more, what terms they use to find your business online, the websites they visited that led them to yours and so much more.
Your knowledge of these details about your leads can be very beneficial to your digital marketing strategy when applied.
8. Better ROI
You can generate better ROI with a well-organized digital marketing strategy.
For instance, email marketing has been reported to generate the highest ROI out of other marketing methods. It can get you as much as 3800% in returns.
However, you’ll need to build an active email list in order to reach out to potential customers with what you have to offer.
On the other hand, content marketing can generate leads up to 3 times for less than what it would have cost using traditional marketing.
And the leads generated from content marketing campaigns usually end up being loyal customers depending on how well the relationship is nurtured.
Likewise, ROI from social media tends to be more indirect because according to a report from Forbes, businesses that use social media tend to outsell those who do not.
An IBM research also found out that leads generated via social media are 7 times more likely to become paying customers.
So if you want to enjoy this benefit, get started with a digital marketing strategy today.
9. Your Brand Becomes Trusted
How the public perceives your business can be realized through digital marketing and this is because it leverages on social media interactions, reviews, and testimonials from people that have used your product or service.
If your business delivers excellent service to customers, chances are that they will tell others about your brand or leave positive reviews on your platform.
And this can go a long way in improving your brand’s reputation which will definitely have a rippling effect on future leads and conversions.
The comments from people who use your brand can make you an authority in the field.
10. Set Your Business Up for “The Internet of Things”
The Internet of Things (IoT) is used to refer to a global ecosystem where smartphones, tablets, PCs, home appliances, and other smart devices are interconnected.
The IoT will allow devices to connect with each other and transfer data over the network.
Your business can benefit from the future implementation of the Internet of Things if you are already running a digital marketing strategy as you won’t be left out in the dark.
Digital marketing methods tend to change over time and your business will get carried along with these new developments in technology.
Help with Digital Marketing
Perhaps you have read about digital marketing before and you just couldn’t grasp how it could benefit your business or you tried it out for your business using a 3rd party and unfortunately, you didn’t get the heavenly results that were promised.
Don’t lose hope yet. Reach out to us today.
At Vexceed Technologies, we pride ourselves on delivering world-class digital marketing solutions.
We go the extra mile in ensuring that our customers grow their brands faster through digital engagements.
Your digital presence is just as important as your physical presence and we understand how crucial it is to connect with your target audience.
So let us handle your digital strategies and generate leads that end up as sales and conversions.
Feel free to chat with us by sending us an email at firstname.lastname@example.org We are eager to hear from you.
In conclusion, it is amazing that many businesses still rely on the good name and trust from their customers that they’ve built over the years.
The Internet and digital technologies keep evolving and it is projected that companies that do not tap into the opportunities provided by the digital space, might struggle down the line.
Digital marketing involves any kind of marketing done via the Internet or any electronic device.
It can be a very effective tool for use in improving your company’s presence online because several data have revealed that a lot of people spend most of their time online.
To get involved and push your brand online for people to see, you will require a digital marketing strategy that will guide you through the steps you will take towards managing a successful digital marketing campaign.
There are several benefits that come with having a digital marketing strategy, chief among them are the promise of a better ROI for your company, a budget that won’t cost you an arm and leg, as well as relative insight into the strategies being employed by your competitors.
Ready to grow your business through digital engagements? Contact us today and let’s have a conversation about that!