Do you feel your traditional marketing campaigns aren’t as effective as they were a few years ago? If yes, then it’s time to start investing in digital marketing.
In our previous blog post, we talked about what digital marketing is and why it’s important. In this one, we’ll focus on the benefits of digital marketing. We discuss 8 ways online marketing can drive business growth and prove to be beneficial for your business.
1. Digital marketing is cost-effective
The first and most important benefit of digital marketing is that it’s way more cost-effective than traditional marketing. Traditional marketing is expensive, and that makes it difficult for small businesses to compete with larger ones, as they have a limited ad budget which isn’t enough to cover the costs of traditional marketing.
Thanks to affordable digital marketing tactics, small businesses can now get more value from their limited ad spending. It can be said that digital marketing puts both large and small businesses on the same playing field so that they can make the most out of their marketing spend.
2. It improves a business’ outreach
One of the major advantages of the world of the Internet is that it’s limitless. Your business might be located in Australia, but you can easily reach people in the US through the Internet and since digital marketing takes place online, it’s accessible to a global audience too.
Traditional marketing involves advertisements on TV, billboards, radio stations, etc – most of which are restricted to a particular geographical location. Digital marketing, on the other hand, isn’t restricted by geographical bounds. It can be used to reach customers from all parts of the world.
3. It helps target the right audience
The first step to executing an effective marketing campaign is targeting the right audience. You might have an excellent idea, but it won’t be of any use if it doesn’t reach the right people. Digital marketing can help you in this regard.
Traditional marketing isn’t very specific. You put up your ad on a TV channel or billboard in hopes that your target audience will see it. Digital marketing, on the other hand, allows you to create buyer personas using statistics like age, gender, and interests. You can use these personas to target people who would be most interested in the product or service you’re offering to achieve a greater ROI.
4. Digital marketing offers valuable insights into consumer behavior
One of the key benefits of digital marketing is that helps you understand consumer behavior in great depth. Consumer behavior refers to the actions a customer takes in the buyer’s journey. It can be of significant help when advertising online.
Digital marketing involves website and social media analytics that you can easily track the steps taken by customers to reach your page. You can use them to understand how the customer reached your page, how long it took them to click the purchase or call button, and why they decided to not buy the product or service.
5. It improves conversion rates
Converting a visitor into a customer is way easier when done online. You might be wondering how. Well, for starters, digital marketing lets you target your audience in a more specific way. So, when your ad or other marketing content is seen only by people who belong to that niche, there’s a great chance of them buying it.
Besides this, as we mentioned above, digital marketing enables two-way communication, meaning you can reach out to your customers conveniently, respond to their queries instantly, and convince them to try out your product or service using the power of verbal communication.
6. It increases customer loyalty
As a business owner, you’re probably aware that it costs more to attract new customers than to retain them. Moreover, in case you didn’t know, your loyal customers are worth up to 10x as much as their first purchase. That’s right.
Establishing customer loyalty is essential; after all, it’s what keeps your business running. It can be hard to gain customer loyalty, but digital marketing can help you in this regard. You can stay in touch with your loyal customers through personalized email offers and frequent social media engagement and remind them that they matter to you.
7. Digital marketing enables businesses to make changes on the go
Out of all the benefits that are unique to digital marketing, an important one is that it enables you to make changes on the go. Traditional forms of marketing, such as print and TV advertisements, can’t be altered once they’re up on the billboards or running on the TV. Changing them after the campaign is live can be hard on your budget, and most businesses cannot afford that.
In contrast, when you invest in digital marketing, you have the power to make changes whenever and however you want. You can update your content and PPC ads, optimize your SEO campaigns, and tweak your social media ads to adapt.
8. It helps small businesses in competing with large corporations
As we discussed at the beginning of this article, a major benefit of digital marketing is that it’s a very cost-effective marketing tool. This makes it particularly useful for small businesses that do not have a large marketing budget.
For instance, many pay-per-click (PPC) advertisements allow you to choose how much you want to spend. You can set the amount according to your budget. The same goes for social media ads and SEO campaigns as they’re completely customizable. Just keep in mind that it will take some time for your campaigns to show results, so don’t be impatient.
Start Taking Advantage of Digital Marketing Today
Online marketing offers an excellent opportunity for businesses to grow and reap the benefits of the potential that the Internet has to offer. Investing in digital marketing can help you attract more leads, improve your conversation rates and eventually earn higher revenue.
Want to start your online journey and reap the benefits of digital marketing? Get in touch with Digitorm today!