In the past few years, the digital marketing industry has taken a totally new trend and has gained immense popularity and importance.
Technology has clearly evolved and we have inherited those changes rapidly.
We own smartphones, Amazon Alexa, laptops and much more.
We all spend time on the Internet and while so many people are online why not your business.
Well, it’s important for you to take your business online.
However, the role of digital marketing has spread over the years as the industries are forging towards digital marketing.
A lot of individuals are learning and practising digital marketing to make it their career.
Not just the individuals a lot of organization be it a small scale or large scale are implementing digital marketing.
Digital marketing helps in a tremendous way to the individuals and organizations both.
So now, let’s have a look at the importance of digital marketing in various prospects and why you need to thrive it.
Importance of Digital Marketing
1. Cost Effective
In today’s time, we all are worried about money. Moreover, we need better services or products at less price.
Digital marketing is one of the most cost-effective ways to market your business.
As in traditional marketing, it includes newspaper, magazines, pamphlets, billboards etc. which requires a lot of budgets and it is very difficult for a small scale organization or an individual freelancer with limited budgets to compete with larger business.
But, when you jump into digital marketing the only cost is time.
SEO, social media engagement, content marketing take time to bring out the magic.
However, tactics like pay-per-click, display ads and social media advertising can give you a quicker result and within $100 you can outreach a mass.
2. Target Audience
Well, if you are marketing for any product or service it’s important to target the right and relevant audience.
So how do you propose to reach the target audience?
Traditional marketing or digital marketing…?
In traditional marketing, when you run an ad in a magazine or a newspaper you definitely target audience. The ad may reach to 1 million people.
You may have control within certain publishers and ad space.
But what percentage of this million is actually your audience?
A particular magazine has a certain demographic, say 52% female aged 25-35 and you know that they are reading your ads but that is a huge demographic.
However, on the other hand, digital marketing gives you the ability to get into the depth of demographics through analytics.
Through analytics, you can see the location, interest, age group, gender, devices etc. Each and everything with appropriate results.
So, what kind of ads you can run through digital marketing?
When you do targeting at this level, you have to create an ad that is more relevant to your targeting market.
The more relevant your ad is, it can connect on a level where traditional marketing can’t do.
Now, you must be thinking about what kind of targeting you can do through digital marketing?
You must have heard about search advertising which is also known as PPC (pay-per-click).
Search advertisements include Google Adwords. In this form of advertising, you target people doing a search on Google and other search engines.
You can place your ads nearly on top of the search engines by bidding on searched queries. With search advertising, you can target people with specific:
- Education and much more.
Similarly, another way to target your audience is social media advertising.
When it comes to social media advertisements, you can narrow down the target audience. One can use the data they have collected through ad managers.
On Facebook, you can instruct to show your ad to users specific with interest, location, age group or any other attribute.
Note: One of the best things about these ads are, you do not need to spend thousand on one particular ad and you can run ads indefinitely.
You can also modify the ads to target the different group of peoples and in traditional marketing, you do not get this leverage.
3. Better Analytics
Digital marketing allows you to get into the depth of analytics. While you run an ad it’s important for you to understand and determine how good or bad the ad is going.
Applying traditional methods, can you really get to know how good or bad an ad is going which you aired on TV and magazine. While doing some research you may determine the best time and frequency to publish the ad.
But, you have to be depended on the agency to drill down the data. Moreover, that data is not going to be accurate.
However, when compared to digital marketing you know the users and the ad at the same time:
Applying digital marketing you get to know following about your ads:
- The number of impressions, whether they actually saw the ad.
- The amount of time spent.
- Whether they liked the ad or not.
- If they shared with someone.
- If they interacted with the ad.
You also get to know about the people who are interacting with the ad:
- Where are they from.
- Which device are they using?
- What keywords do they use to find your service or product? / you online.
- Who spends more time.
- What makes them navigate to other pages.
These statistics can be easily tracked down by simply using the Google Analytics tool.
4. Mobile Outreach
It’s 2019, and the use of a mobile phone has increased at lightning speed in the past two decades.
Today, 85-90% of users prefer mobile phone for buying products online. Not only people buy and sell products they are also looking at product information and reviews and they might also write a review about you.
When you go shopping or movie or any cafe to eat or drink, why do they as for your number?
To send an exciting promotion or any occasional offer their cafe or store are running…right? And if you have shared your number you would have definitely received these promotional texts.
When someone visits your store you may ask them to geo-tag the location, review it on Google or if they take a selfie it also becomes a promotional opportunity for you.
We just need to integrate the use of mobile experience with physical experience.
The better you do, the more opportunities you get to grow your business.
5. Better ROI
If you own a business, it does not matter if it’s a small scale or large the very first thing which you think about is ROI.
Digital marketing can get you a return of more than 2000%, which is $20 return on every $1 you spend. The market is competitive and about 20-30% of companies are seeing an ROI of more than $20 with every $1 spent.
But, the question arises how?
Well, one of the best ways is Email marketing.
Email marketing allows you to approach the users but you do need to build a high-quality subscriber’s list.
Then start delivering relevant content to their inbox but remember do not spam their inbox.
Content marketing not only helps you to drive traffic on the website but it can generate more leads than traditional marketing and we all know the influence of social media nowadays.
That’s the importance of digital marketing for a better ROI.
Let’s Wrap Up!
- Digital marketing has led business to a different level with different aspects.
- By spending less amount you can reach up to your target audience.
- Also, it helps to generate more lead compared to traditional marketing.
- It leads to build your business or individual as a brand.