Most business owners understand the impact effective marketing has on their business revenue, but why should business owners move towards a more digital inbound marketing strategy? Will the investing result in good returns?
Firstly, we need to unpack the definition of digital marketing as so many people assume that having an active social media page is equivalent to digital marketing. It’s part of it, but definitely not all that digital marketing entails.
What is digital marketing?
Let’s start off with the term ‘digital marketing’. HubSpot (2021) describes digital marketing as the marketing effort that uses an electronic device or the internet. Businesses leverage digital channels such as search engines, social media, email, and other websites to connect with current and prospective customers.
Why is digital marketing important?
Did you know that even while the internet is so accessible, the number of people who go online every day is still increasing,(HubSpot: 2021)? Digital marketing can help businesses to reach abroad, yet targeted audience. It also offers the ability to analyse data in real-time, and easily adjust a campaign where needed.
Here are some of the reasons why you should utilize all that digital marketing has to offer.
1. Agility
It’s important that your marketing strategy is versatile. If a method is not delivering the desired results, you need to be able to adapt and change. Digital marketing offers that option as nothing is set in stone (or billboards for that matter).
2. Cost-effective
One of the biggest benefits of digital marketing is that it’s cost-effective compared to traditional marketing efforts. When you add it all up, digital marketing gives you much more flexibility and customer contact for your ad spend. You can track campaigns daily and decrease the amount of money you're spending on a certain channel if it isn't resulting in the desired ROA (Return on Ad Spend). The same can't be said for traditional forms of advertising. It doesn't matter how your billboard or newspaper ad performs — it still costs the same, whether or not it shows ROA.
3. Tangible data and results
Results monitoring is simple. Digital marketing software and platforms automatically track the number of desired conversions that you get, whether that means email click rates, visits to a specific product page, or direct purchases. Analysing the data will provide you with key insights about your customer, what they need,and what they prefer.
4. Reach your ideal client or customer
The targeting parameters and platforms are making it so easy to reach your ideal client or customer. Digital marketing allows you to identify your ideal customer and target them with personalized messaging and creative assets.
5. Opportunity for multiple touch points
Digital marketing consists of different channels and methods, such as email marketing, content marketing, social media,pay-per-click, search engine optimization, etc. You can use all of this to create different touch points to reach your customer and strengthen your brand positioning.
6. Connect and build relationships
Form an online connection that drives returning customers. Re-targeting parameters that digital marketing offers help to nurture relationships. Making use of different touch points also strengthens the relationship and helps to ensure it lasts. Loyal customers are also more open to write product reviews or give testimonials that will ultimately also drive business growth and help prospective clients to make the decision to support your business.
7. Data is king
Digital marketing provides various ways to collect data of your current and prospective customers. You can use this to personalise the messaging, understand who your customer are, use it for re-marketing purposes, and nurture a good relationship through digital marketing channels.
8. Clicks that convert
The ultimate goal is to increase conversions, right? Digital marketing creates multiple touch points and ways for businesses to nurture a customer to eventually convert into a returning customer. With digital marketing customers can also take action immediately. Mail chimp explains: “With digital marketing, they can click a link or save a blog post and move along the sales funnel right away.They might not make a purchase immediately, but they’ll stay connected with you and give you a chance to interact with them further.”
Digital marketing offers business growth. If you’re uncertain how digital marketing can benefit your specific business, book a complimentary discovery call with our team.
Sources
https://mailchimp.com/marketing-glossary/digital-marketing/
https://blog.hubspot.com/marketing/what-is-digital-marketing
