When we used to write letters to our loved ones, we can reach out to them with just a click. The development in the technology and internet has opened many new gates for us. The online world has changed our buying outlook in the past decade.
The internet has opened a new avenue for business. Today we can find several business houses which have a strong presence online. Digital Marketing has helped them to reach the pinnacle of success. Digital Marketing is not only about having an online presence but also generating massive revenue if applied correctly.
According to eMarketer, E-Commerce will generate a business of around 4.652 trillion dollars in sales by 2030. Isn’t it tremendous? Digital Marketing gives your business a global presence which is not possible by traditional marketing. Along with this, there are several other reasons why digital marketing is essential for your business.
This blog tells you why digital marketing is essential for your business.
1) Majority of Businesses are online
Did you know that there are more than 24 million online stores available today online? E-commerce will contribute to about $ 4.5 trillion in retail sales in 2021, almost double in 2017.
Whenever we have to look for something new, maybe a new café in our locality or a shopping complex, we usually google it. We even read about the type of service provided by the company and then decide whether we want to visit this place to buy this good or not.
Listing your business online does not devoid you of the online customers. Many people now prefer to buy things online due to pandemic, and you miss these customers if you do not have a website or an online store. Ade
Thus, you must have a solid online presence. You need to invest money in formulating the online image of your brand.
2) Evaluating the results
Under traditional marketing, pamphlets, advertisements, hoarding, newspaper ads were standard. The drawback of these techniques was that you could not measure the return on investment. But digital marketing has made it possible for business houses to understand their business growth and count it as well.
With the help of digital marketing, you can track every lead generated by your business. These features are available for both social media and search engines. You can even track the traffic generated by search engine optimization (SEO) with the help of Google Analytics.
These features have an advanced function through which you can filter the result according to age, gender, area, location, behavioral pattern, and much more.
Such a filter will also help you identify the place that generates the highest lead and lowest lead. They will also enable you to understand what is working for your business, and thus you can formulate a marketing strategy according to it.
This way, you can optimize your campaign, optimally use your money, and hit the targets under the given budget.
3) Helps in Targeting Right Customers
Just imagine you are going to a tailor for drying cleaning your cloth. Will it make sense? The answer will be a big NO! Similarly, the traditional marketing method covers a broader audience that might not be interested in our products.
Does the question now arise How to reach such customers? With an online presence, you can get a more valuable customer interested in your products. Digital marketing acts as a channel to reach out to such customers.
With digital marketing, you can narrow the scope of this audience and refine your results. You can specifically target an age group, gender, community, interest of the people, and much more. Whenever someone runs ads, they can create buyer personas, which acts as an ideal customer, and then you target your product to them. This way, you fetch quality leads.
4) Innovate as you move forward
Digital Marketing is dynamic. You can innovate and change the complete structure of your marketing strategy at any point in time.
It is not possible with the help of traditional marketing. You can change any data once the flyers, pamphlets or hoarding once they are out. The only way to replace them is by creating new ones who waste a lot of money.
Unlike traditional marketing, digital marketing gives you ample scope for changes. You can optimize your campaign following the results produced by them in initials stages. For instance, after running the campaign for a week, you realize ladies majorly purchase the product, then you can modify your campaign to target a specific gender. This optimization furnishes the best results.
5) Building healthy relationships with the customers
Websites, social media platforms, and other online activities keep your audience in touch about your business. They allow you to interact with them at any point in time. You can reach out to them at any point in time, which is not possible in traditional marketing.
You can post updates about the latest launches, sales, festive-off by posting on social media platforms. This way you can generate more revenue and also greats a sense of belonging with the individual. It also developed trust about the brand among the customer and business.
Image credit Freepik.