Top 6 Reasons Why You Should Invest In Digital Marketing?
Top 6 Reasons Why You Should Invest In Digital Marketing?
The internet has become an exceptionally pivotal part of everyone’s day to day life. The proper utilization of the internet can help us make our life super easy, effortless, and fast. It provides us with facts and figures, data, and information for personal, social, and economic development. With the help of the internet, the process of marketing has become easy with greater reach.
What is digital marketing?
The concept of marketing a product or service through various digital platforms such as websites, search engines, email, etc. is known as digital marketing. According to research, there are approximately 4.8 billion active users of the internet across the globe and nearly 3.96 billion active social media users. Therefore, the reach of digital marketing campaigns is more extensive as compared to traditional marketing campaigns, and digital multichannel marketing campaigns are much more effective.
Digital marketing not only helps you to reach a wider audience, but it also helps you understand your customers in a better way. In the world of digitalization, the constantly upgrading tools and techniques permit us to anticipate the buying behavior of the consumers and the customer’s needs in a better way. The digital platforms allow the organization to connect with their customers directly and build a strong relationship with them.
Also Read – Impact of Coronavirus on Digital Marketing & Ecommerce Industry
Top 6 Reasons to invest in digital marketing –
If you own a business, investing in a digital marketing campaign is a wise choice for you, as digital marketing can do wonders for your business. The money and time one spends in digital marketing strategy have an evident return on investment. Here is a list of some reasons why one should invest in a digital marketing campaign –
1. Expansion Rate of the Internet –
On average, people are spending over 6 hours and 43 minutes on the internet every day. And this number is going to increase with time. The Internet is considered as the best platform to share any information as it spreads at a swift pace.
The internet is an astonishing platform to communicate and connect with the mass audience. Today, it dominates the traditional media, and it is anticipated that its reach will continue to develop exponentially. It is believed that digital media platforms are much more engaging than traditional media platforms. It is more convincing and significantly more successful.
Digital marketing helps convert potential customers to loyal customers as the internet allows them to evaluate the product or services offered by the company. The internet enables the audience to review the product specifications, the opinion of other people who have used the product and provides total control over their experience.
The internet gives global exposure to the brand. It enables marketers to promote their brand, products, or services on a global scale and reach their potential customers all across the globe. Another benefit of using digital marketing to promote your product or service is that the audience can access that information twenty-four-seven from anywhere in the world.
2. Target the right audience –
Perhaps the most compelling reason that organizations should start investing their time and money in digital marketing instead of traditional marketing platforms is the capacity to distinguish and communicate with your precise target audience. The digital marketing tactics are much more effective than traditional media tactics when it comes to segmenting the market to identify the audience the company wants to target.
Artificial Intelligence is reforming the world of digital marketing by utilizing the information managed by various platforms that permit organizations to gain insights into the interests of their intended interest group to make a more customized marketing experience. There are numerous digital tools that examine both the demographic and geographic factors to determine the ideal target audience for your brand.
Google and Facebook are among some of the renowned digital platforms known for the algorithms created by them that give customers the finest and most customized experience on the internet. In doing as such, they provide a stage that brands can use to target digital marketing campaigns to their ideal audience. Once the brand has a better understanding of their target audience, they can avoid focusing on the groups that are irrelevant to them.
3. Better Return on Investment –
Every business requires ample return on investment to survive in the market and to succeed. But, because of the consumer-driven market, it has become very difficult to earn sufficient return on investment. The digital market plays a crucial role in generating a stable return on investment for your organization.
According to the AIDA (Attention, Interest, Desire, Action) model of marketing, grabbing the target group’s attention is the foremost step for any brand. A digital marketing campaign helps you just with that by grabbing the attention of your product or service’s potential customers. Digital marketing campaigns are more effective than conventional marketing campaigns as people spend a significantly good amount of time on the internet.
Digital marketing provides you with better results at a lower cost compared to traditional marketing. It is not only cost-effective, but it also helps in generating real-time sales. Investment in digital marketing is considered fruitful not only for large businesses but also for small businesses.
In the current scenario, 80% of media utilization is video-based. Approximately 85% of the customers are bound to buy your product or service after watching a demonstration video of the same. Video marketing on platforms like YouTube, Instagram, and Facebook is much more pocket-friendly for small businesses with a smaller budget. One can easily track and monitor the insights of these videos, enabling you to measure your ROI quickly.
4. Easy Evaluation –
Evaluating the results is a very crucial part of every marketing campaign. The process of evaluating a digital marketing campaign is much more straightforward and precise as compared to the complex and not so accurate process of assessing a traditional marketing campaign.
In this era of digitalization, it is very easy to keep a check on the insights of the digital marketing campaigns with the help of the digital tools that are available on the internet. These tools provide you with precise real-time data. Evaluation of a campaign is an important step as it assists you with judging how compelling your strategy is and discloses to you whether you are headed to accomplishing your anticipated ROI.
Digital marketing gives you more advanced analytics. It provides you with pieces of information such as, whether a person actually viewed it, liked it, shared it with the friends (as digital marketing provides you with an option to share the content on your social media with your friends) and most importantly it gives you an idea about the conversion rate.
5. Increase in Customer Engagement –
Understanding consumer behavior is crucial for any business to become successful. Digital marketing is just the right tool for it. The intuitive nature of the internet enables organizations to connect with people on an individual level and build relationships with them by freaking the formal barriers.
An increase in customer engagement will help the company to understand its customer in a better way. This will help the company to design better products to satisfy its customer’s needs. Digital marketing also enables you to get instant feedback on your product or services as the digital platform provides the customer with a platform to express their opinions about the company and its services. Based on their feedback, you can correct your mistakes and plan your next step.
Digital marketing influences through social media signals, testimonials from consumers who have recently bought a product or service marketed by a specific brand. Word of mouth is one of the most critical factors that help in building trust. Therefore, these social signals help in increasing the trust rate of the target audience or potential customers.
6. Content is Hyper-Personalized –
As already discussed, digital marketing helps you focus on the ideal target group. But, with the help of email marketing (which is a component of digital marketing), the organization can target at a personal or individual level. This is known as personalization in terms of marketing.
According to research, 73% of consumers prefer businesses to communicate through emails with them. This provides individuals with a feeling of control that makes them more comfortable subscribing to your emails and buying your products or services. In the event that they feel that what you send them is irrelevant to them, they can simply unsubscribe. In any case, when you send them profoundly pertinent content, they remain on your list and keep on purchasing your products over and over.
To provide a hyper-personalized experience, you need to follow three steps, segmentation, automation, and personalization. With segmentation, you’re gathering information about your subscribers. This information can be used to divide your list dependent on specific attributes or practices recognized through analytics. The next step is automation, which permits you to send that relevant content at the ideal time to acquire the perfect outcome. The final step is personalization, where you connect with the individual at a personal level.
You can suggest the best items to them since you know their buy history. When you refer to someone by their name, they feel important as an individual, and it helps in increasing the emotional value towards the brand.
According to Aberdeen Research Firm, segmentation helped boost the conversion rates by 10% and revenues by 760%. On the other hand, the conversion rates are increased by 50% with the help of automation. A study also mentioned that 81% of the individuals who receive personalized emails buy the products again and again.
The importance of digital marketing will keep on increasing as the world is digitalized and more advanced with time. It will always remain the most remarkable method of Marketing, even in the future. The main thing that will change is that the software will turn out to be further developed, which will enable the digital marketing campaign to become more productive with better ROI.
One can have an in-house team to design a digital marketing campaign or recruit a digital marketing agency. A digital marketing company in Pune can assist you with understanding your intended interest group or potential clients and assist you with designing a digital marketing campaign to expand the brand esteem, boost sales, and build a relationship with your customers.
Author Bio –
Hrishikesh Deshmukh – Hrishikesh is a technopreneur who successfully leads software and digital marketing company in Pune – TTDigitals. He has 7+ years of experience in Digital Marketing/ Software development and has worked at various levels i.e. Digital Marketing Manager, Digital Marketing Head at various reputed startups such as CommonFloor.com, Wheelstreet.com etc.
Also Read – Best Marketing Tips To Keep Your Customers Engaged