If you are entrepreneur looking for business growth, a startup founder heading for better opportunities or a small medium enterprise attempting to capture lucrative market, the first thing you need to know is ‘DIGITAL MARKETING’ is mandatory.
Because we are breathing in a digital age. The world is not shifting towards digitalization. It is already there. Imagine a day without your smartphone. Isn’t it scary? You wake up every morning to new technology and stunning applications. It is an era where a notification from a news app pops up on your screen much before the newspaper actually hits your balcony.
You have adhered to a lifestyle enriched and enabled by technology, and to imagine a day sans digitalization is undoubtedly a nightmare. Moreover, while scrolling down this article you are in the lap of digitalization.
Thus, to keep themselves at par with the evolving technology and survive the competition in the market, small and medium business are also seeking the online arena to create better opportunities for their business growth.
Digital marketing is an effective marketing channel which can help you grow your business. Its efficiency has been realized by business community and therefore small medium enterprise and startups are striving for strong digital presence.
Now, what is DIGITAL MARKETING?
Digital Marketing is the process of promoting brands, products and services using digital technologies. It helps you reach your target consumers in a jiffy. It works as a bridge which connects the brand with the prospective consumers. You can provide the consumers with information, products and service which meet their needs.
When the whole world is going gaga over digital marketing and taking a step ahead to boost their business, it is important for you to adapt to the changing scenario and live your dream of being a flourishing entrepreneur.
You might be wondering how Digital Marketing will prove to be a better alternative of traditional marketing methods. To be straight, Digital Marketing is no magic wand which will transform the state of your business overnight. But with time and effort, it will prove its capabilities to empower your business and ensure magnificent success.
Here’s how DIGITAL MARKETING can boost your business
Digital Marketing is fast, cheaper, measurable and versatile model of marketing. The best part is, the customer response rates, and results of marketing campaign can be traced in real-time. Above all it is the future of marketing.
You get plethora of target audience:
The internet has 3.17 billion users. With a huge user base of Internet, it isn’t a surprising fact that Google processes 100 billion searches every month. Therefore, opting Digital Marketing for your business will give you a potential to reach wider audience. It will increase your visibility as a brand and help you attract your share of target audience amidst cut throat competition.
It is cost effective and cheaper:
If you are a startups or a small business, you may not be equipped with enough resources and capital. Here, Digital Marketing will prove to be a boon. It will provide you with better and cost effective marketing channels that deliver results.
According to Gartner’s Digital Marketing Spend Report, around 40 percent business owners claimed of getting considerable savings by using digital marketing methods for promotion of their goods and services. Around 28 percent business owners stated that they will shift their marketing budget allocation from traditional methods to digital tools of marketing.
Measures your performance:
Digital Marketing is boon for business owners as it lets you measure your performance. The indicators are metrics that help you understand how you are doing against your competitors and streamline your efforts in a right direction.
The measurement tools enable you to monitor clicks, page views, visits, downloads, unique visitors, loyal visitors and much more. Further the performance can be judged by measuring segments like traffic sources, tools used and visitor’s demographics. It will help you determine the areas where you are shooting and where you need to pay heed.
Generate better revenues:
Effective online marketing has a huge potential to convert the incoming traffic into leads, subscribers or sales. Higher conversions will ultimately generate better revenues. According to an online survey, it has been measured that companies using digital marketing strategies have 2.8 times better revenue growth expectancy.
Engagement with Target audience:
Digital Marketing facilitates interaction with target audience. This will help you identify the need of your prospective consumers. You can reach your target audience via various social media platforms. There are about 40 million active small business pages on Facebook alone. Though there are myriad social networking sites, but Facebook accounts for 62 percent of logins by consumers into the apps and websites of brands. Engaging with the customers will lead to customer satisfaction leading to increased customer retention.
Builds brand reputation and earn customer’s trust:
Engaging with your target audience via Digital Marketing platforms will not only help you build your brand’s reputation but also earn their trust. You can give your customers an enriching experience by delivering them with the best in the scheduled time. A satisfied consumer will also help you get a word of mouth publicity. According to Neilson Global Online Consumer Survey, 90 percent of respondents claimed they would trust information about a particular brand, product or service if it comes from people they know.
Entices customers for action:
The power of digital marketing lies in its ability for attracting targeted traffic. It not only attracts the traffic but entices them to action favorable for your business. Features like Retargeting and Remarketing, lures the customer to go for a particular brand or product. Digital Marketers with their innovative ideas ensure conversions using Call to Action. You can lead your customers towards favorable actions like subscribing, liking, buying or even calling you.
Provides better Return On Investment (ROI):
With its ability of being a measurable marketing model, Digital Marketing provides better ROI than traditional marketing channels. Tracking and monitoring consumer behavior and their conversion into sale and leads will help you access your ROI in real time.
Prepares you for Internet of Things:
Internet Of Things (IOT) is going to be next big thing in Digital Marketing evolution. This proposed development will lead to interconnection of everyday devices, allowing them to send and receive data. Therefore, it becomes important for small business and enterprises to carve their own niche in the Digital Marketing to survive the technological advances in the years to come.
Digital marketing has moved into the mainstream. When digitalization is taking over every aspect of life, you cannot be so naïve to ignore its importance. Without a concrete digital marketing strategy in place, acquisition of a new client, creating effective brand visibility and revenue generating opportunities will go for a toss.
The bottom line is, adapt the new technology or loose the business.