IMPORTANCE OF DIGITAL MARKTING
All of the reasons we list here, if applied correctly, should help you to attract customers new and old and drive future sales.
Good for brand growth and awareness
Digital marketing levels the playing field and allows you to compete with bigger brands in your sector that otherwise wouldn’t be achievable.
The internet is home to a huge source of potential customers, so by marketing your brand using the above techniques we discussed, you’re able to target a lot more people than you would normally.
Using these different digital marketing channels, your brand will grow and become more widely recognised, helping to raise awareness about what you do and the products or services you sell.
Targets online customers
As of January 2023, there were 5.16 billion internet users worldwide, which means there are quite literally billions of people out there that may be interested in your brand.
Your customers are online waiting to discover your brand and a good digital marketing strategy will be able to tap into this potential. The more exposure your brand receives, the more likely you’ll attract new customers.
The majority of people now use the internet to find out about businesses, so you’d be crazy to not have an online presence and be involved in the conversation. If people can’t find your business online, then the chances are that they’ll choose a competitor and you’ll lose a potential customer.
Affordable
Digital marketing is a lot more cost-effective than traditional marketing methods, which is ideal for businesses that have limited funds and resources. You also have complete control over how you spend your money, targeting certain marketing streams depending on your needs. For example, using Google Ads or commissioning some time with a videographer.
It also allows you to be flexible with your money, pivoting to different marketing strategies when required. This reduces the risk of wasting precious finances and ensures money gets allocated effectively.
Measurable
Another great reason why digital marketing is important and superior to traditional marketing tools is that it’s measurable. With digital marketing, you’ll have access to a huge source of data and metrics, whether that’s impressions, views, time on a page, click rate, and so on. This means you can see accurate data in real-time.
This is invaluable when it comes to evaluating how well your brand’s digital marketing strategy is performing and allows you to reallocate time and money to other areas if a particular campaign is underperforming.
Not only will you be able to learn from your mistakes, but you’ll also be able to see how and why a campaign has been successful – using this knowledge to help move the business forward in the future.
Faster and more efficient
Implementing digital marketing strategies can also be a lot quicker and more efficient, as you’ll be able to start the process immediately.
Even if money or resources are a little tight, there are still things you can do to get the ball rolling and help improve your brand’s online presence, such as increasing social media post frequency and implementing some basic SEO on your website.
Some of the traditional marketing techniques can also be incredibly time-consuming, whereas digital marketing helps to free up precious time and reallocate it accordingly.
Good return on investment
Digital marketing allows you to track day-to-day campaign performance, ensuring you know what channels are performing and which are struggling. This helps you to optimise campaign budgets for high return on investment (ROI).
It is widely recognised that businesses that invest in online advertisements and marketing have a better ROI. Here are some statistics to support this from Website Builder Expert:
- Email marketing has the best average ROI at 3,600%
- SEO marketing has an average ROI ratio of 22:1, equating to 2,200%
- Marketers who regularly calculate their ROI are 1.6 times more likely to secure budget increases for their marketing activities.
Put simply, the more customers that view your brand online, the higher your conversion rate is likely to be. Digital marketing is all about trying to convert your leads into customers.