Small and mid businesses, like the rest of the human societal structure, do everything possible to keep pace with the latest and developing nature of modern innovations. In order to catch an increasing and very hugely profitable online marketplace, brick-and-mortar enterprises are either evolving their business practices to an online one or strengthening established marketing efforts with marketing strategies.
For it is the process of identifying and attracting targeted audiences online that will mean the part of a successful and failing business. Even if you receive a lot of daily traffic to your website, it will be useless unless it converts to leads or sales. Digital Marketing methods and technologies provide entrepreneurs with the best opportunities for competitors in the market, survivorship, and even business expansion in the digital sphere in which business and commerce are heading.
The following 12 reasons will show you why the use of digital marketing is not only an investment-wise decision but also an effective marketing channel that can help you grow your business.
1. Because Digital Marketing Levels the Online Playing Field
Small businesses now have the potential to conduct sales and marketing processes that were earlier only applicable to large corporations thanks to digital marketing. Without a call centre, small businesses can effectively engage with a lot of customers, including customers from all over the world, even if they do not have retail stores or branch offices in these locations.
2. Because Digital Marketing Is More Cost-Effective than Traditional Marketing
According to Gartner's Digital Marketing Spend Report, up to 40% of respondents claimed to have saved significantly by using digital marketing promotional methods for their goods and services.
As a result, according to the Gartner survey, 28% of company owners will transition marketing budget allocations away from the traditional media platforms and into online digital marketing techniques.
3. Because Digital Marketing Delivers Conversion
Businesses that market goods and services online measure success by the % of incoming traffic that converts into prospects, subscriptions, or purchases, based on the objective of your website. Without conversion, all of your traffic would be meaningless, and all of your marketing initiatives would be in vain. That is why company owners are directing their digital marketing campaigns toward conversion optimization, elevating it above all else.
4. Because Digital Marketing Helps Generate Better Revenues
Higher conversion rates generated by effective digital marketing techniques will result in a slew of profitable benefits for the company in the form of improved and increased revenues. Google confirms this in a study with IPSOS Hong Kong, claiming that companies that use digital marketing strategies have a 2.8 times higher revenue growth expectancy than those that do not.
Small and medium-sized businesses that use digital marketing techniques will have 3.3 times higher opportunities of widening their workforce and business, allowing them to reach better, larger, and more distant markets both locally and internationally.
5. Because Digital Marketing Facilitates Interaction with Targeted Audiences
The ability of Internet marketing tools to interact with targeted audiences in real-time is one of the reasons why digital marketing is overtaking traditional marketing channels. When interacting with your brand or business, your customers expect to be engaged in some way. Interacting with your customers and providing them with appropriate engagement points can provide you with insight into what your target audiences want. This essential information will guide you in making the correct set of next steps, providing your clients with an even better outcome, and developing good relationships with them – gaining the loyalty and trust that you might need as your business grows.
6. Because Digital Marketing Builds Brand Reputation
The strength of digital advertising is its opportunity to recruit targeted traffic. These kinds of audiences for your content are most likely already interested in learning more about your brand, products, or services and may be willing to buy what you have to offer. Delivering on your promises will help you build a better relationship with your target audiences, allowing them to transform into paying users who will return to interact with your site on a regular and continuous basis.
This will help your brand's reputation because happy customers will most likely tell others about their experience with your brand, product, or service. As anticipated, one brand's reputation will go viral, opening up new avenues for reaching larger markets and achieving business growth.
7. Because Digital Marketing Provides better ROI for Your Marketing Investments
Digital Marketing, with higher revenues and better branding, can provide a higher Return on Investment (ROI) than traditional media and marketing channels. Traditional media is prohibitively expensive for small and medium-sized businesses to leverage, and the results obtained are hazy and difficult to quantify.
Digital marketing, on the other hand, is simple to track and monitor, with results realised and measured as soon as targeted audiences provide contact information, subscribe to a newsletter or training programme, or make a purchase. However, the key to success in digital marketing is to generate a consistent flow of targeted traffic that converts into sales and leads. The more traffic your company generates, the faster you'll see a return on investment.
8. Because Digital Marketing Earns People’s Trust.
Digital marketing capitalises on the current online trend of focusing more on social media signals generated by direct and more personalised interactions between a brand or business and their target audiences. According to the Nielsen Global Online Consumer Survey, which included 25 thousand consumers from at least 50 countries, 90% of respondents said they would trust information about a specific brand, product, or service if it came from people they know.
Digital marketing makes use of social media signals, social proof, and testimonials from actual customers who have previously purchased, joined, or used a product or service marketed by a specific brand or business. The more trustworthy these social signals are, the more trust they can generate from targeted audiences, the majority of whom are potential customers.
9. Because Digital Marketing Makes You Ready for the Internet of Things
The "Internet of Things" refers to a global ecosystem of interconnected devices such as tablets, smartphones, gadgets, and appliances that can communicate with one another via the Internet. Sounds like something out of a Sci-Fi thriller, but this is where the projected 24 billion gadgets by 2020 will end up. Online Marketing will prepare your company for this eventuality, an interrelated ecosystem that will pervade all aspects of people's lives. Survival in the "Internet - Of - things" period means inclusion in this interconnected grid – giving you a window to reach out to targeted audiences who are part of this online grid.
10. Because Digital Marketing Ensures Business Survival Online
It is common for guests to approach a brick-and-mortar business, skim through and inspect goods, and then leave without purchasing anything. Many folks like these come and go, but only a select few will make a purchase and, if pleased, will return for more at a later date. If you get less of the later and more of the few, your brick-and-mortar business will go out of business sooner or later.
Below we discuss several reasons why you should use digital marketing to boost your brand visibility, gain new customers on a more consistent basis, and ultimately grow your business.
10 ways businesses can achieve success in their digital marketing efforts
By combining the channels and tactics mentioned above, while keeping in mind recent trends and technologies that make it easier to connect, businesses can achieve success in their digital marketing in the following ways.
1. Be flexible and open to change.
2. Set SMART objectives.
3. Execute perfectly.
4. Exercise creativity throughout the process.
5. Target audience with market segmentation.
6. Diversify your channels, tactics, and strategies.
7. Always stay connected to your audience.
8. Collect feedback and respond to it accordingly.
Once you've gathered customer feedback, use it to determine which strategies are working and which aren't, and then adjust accordingly. Constant improvement will lead to success in digital marketing.
Even a small business can grow on digital platforms with the right digital marketing techniques, tools, and strategies. Smaller businesses have a greater opportunity to expand to the next level.
If business owners are unsure how to set up digital marketing campaigns on their own, they hire digital marketing agencies. These agencies assist businesses in going online on a limited budget while also promising the best exposure for their company.