Digital marketing benefits businesses of all sizes by giving access to the mass market at an affordable price. Unlike TV or print advertising, it allows truly personalized marketing. Digital marketing also comes with a number of challenges you should be aware of.
According to Forbes, 84% of consumers conduct research online. And, Tech Crunch reports that 80% of people shop online.
So how do you reach these consumers? There's only one correct answer: Digital Marketing.
Digital marketing, Digital marketing..
What Exactly is Digital Marketing?
Digital marketing is the promotion of products/services via various forms of electronic media, mainly based on the internet. Basically, the definition of digital marketing refers to all of your online marketing efforts. Thus, organizations can analyze marketing campaigns and implement necessary steps accordingly. Businesses can employ various tools to market their products or services. These are social media marketing, pay per click, blogging, direct marketing, content marketing and much more. Successful online advertising translates to increased traffic to your website and increases return on investment.
Regardless of what your company sells, Digital Marketing can work effectively for any industry. With Digital Marketing, you can see results much faster than you might with offline marketing.
The interactive nature of digital marketing strategies helps companies to grow their client base in a short span of time.
The group of potential customers that are found online is a much larger group of people than you are likely to be able to attract locally. Using digital marketing, you can reach an enormous audience in a way that is both cost-effective and measurable.
Digital marketing is a subcategory of marketing that uses digital technology to place and sell products. Digital media is so pervasive that consumers have access to information any time and any place they want it. A great deal of attention has been focused on the tremendous opportunities digital marketing presents, with little attention on the challenges companies are facing whilst going digital.
Digital marketing is an umbrella term for the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium.
The Internet is an interactive medium. It allows for the exchange of currency, but more than that, it allows for the exchange of value. A business on the Internet can gain value in the form of time, attention and advocacy from the consumer. For the user, value can be added in the form of entertainment, enlightenment and utility; content marketing is one powerful way to create value. Digital marketing strategy builds on and adapts the principles of traditional marketing, using the opportunities and challenges offered by the digital medium. A digital marketing strategy should be constantly iterating and evolving. Since the Internet allows for near-instantaneous feedback and data gathering, digital marketers should constantly be optimizing and improving their online marketing efforts.
Still interested in the benefits? If so? Keep reading.
Digital marketing comes with a large basket of benefits that improves the reach and strength of a growing business. Some of these benefits are discussed below:
Increase in Conversion Rates
Converting a customer online is not a big deal. All you need to do is just make your marketing strategy an engaging one. Targeted traffic offers bigger chances for conversion. Unlike other types of advertising, digital marketing lets you have a two-way conversation with customers and leads. Through digital marketing, you can reach out to your customers at any time. Instead of bothering them with multiple phone calls, reaching customers online seems to be a better idea. Just send an email and let them make a purchase and learn more about your organization. From such interactions, important leads can be generated, which would eventually bring an increase in conversion rates.
Compete with Large Corporations
Don’t worry if you are dealing even with a small company, you can compete with the big guns in the industry. The importance of digital marketing also lies in the fact that it lets you compete for head to head with big brands and large corporations. From a small vendor to a large powerhouse, digital marketing offers affordable and effective marketing tactics. Small brands can drive traffic both locally and across the country by reaching out to their target consumers.
You can always see in real-time what’s working and what’s not for your online business. Through online marketing, you can know about the number of visitors to your site, the increase in the number of its subscribers, peak trading times, conversion rates, Increase/drop in website traffic, bounce rate, and much more!
And this can be done just with the touch of a button. Such results can give you a thorough idea through which you can choose the necessary steps to improve your results.
Digital marketing strategy builds on and adapts the principles of traditional marketing, using the opportunities and challenges offered by the digital medium. A digital marketing strategy should be constantly iterating and evolving. Since the Internet allows for near-instantaneous feedback and data gathering, digital marketers should constantly be optimizing and improving their online marketing efforts.
We’re sure you had a good read, very well then. Let's pause here, we'll talk about others in the second part, hang on.