Marketing is the act of connecting with customers with a bid to convince them towards buying a product or subscribing to a service. Marketing, in whatever form, is one of the key activities that every business must partake in, as no business can survive without effective marketing and publicity.
Digital marketing is any action carried out using any electronic media towards the promotion of goods and services. This is a primarily internet-based activity aimed at selling goods or providing services.
The world is in a digital age, and millions of people spend so much of their time poking around digital platforms. Businesses are becoming increasingly aware of this fact and therefore leveraging on the popularity of these platforms to promote their goods and services. Marketing is all about connecting with customers in the right place at the right time, and if your customers are plentiful online, then that is where you should go.
Regardless of the type of your business, be it an app development company or a service provider, you can still benefit immensely from subscribing to digital marketing services. Their advantages over traditional marketing channels is enormous. Listed below are ten of them:
Marketing and advertising cost is one of the biggest financial burdens that businesses have to bear. While big businesses may not have so much trouble doling out millions for marketing and advertisement, for small businesses, this may be impossible or an unbearable nightmare. Marketing via digital platforms offers a more affordable alternative to the traditional method. They create as much impact yet costing way less.
Huge return on investment:
Nothing matters more to a business than the return on the investment it makes. Digital marketing offers a substantial return on small investments. Email marketing or running advertising campaigns on social media platforms cost little when compared to traditional marketing techniques.
Easy to measure:
The success or otherwise of a digital campaign can easily be ascertained. Compared to traditional method where you have to wait weeks or months to evaluate the veracity of a campaign, with a digital campaign you can know almost immediately how an ad is performing.
Email marketing software allows users to track the performance of their emails; they can know how many were delivered, how many were read and learn all about their conversion rates. Google Analytics is a very effective tool for measuring specific goals to be achieved on a website or blog. Google AdWords manager allows users to monitor the performance of their ads on Google search; they can know how many people viewed their ads and learn all about their conversion rates.
The knowledge of the performance of an ad will inform a business on how to proceed. For an ad campaign that is performing well, it is easy to invest more in it with just a click. But for an ad that is not delivering as expected, it can be adjusted accordingly or stopped altogether with ease.
In traditional marketing, it is more rigid as a mountain of paperwork must be signed and in most cases, these agreements are on a long or medium-term basis. So even if a campaign is not performing as hoped, subscribers will still have to wait for the expiration of the agreed period.
Businesses can use their digital platforms to build their company’s brand and reputation. A well-developed website, a blog featuring quality and useful articles, a social media channel that is highly interactive are some of the ways by which a business can build its brand.
Most digital marketing channels feature sharing capabilities which allow campaigns and articles to be shared with multiple followers. This helps to create a multiplier effect and has the capacity to tremendously improve sales results.
The traditional means of marketing uses the spray and pray method, where an ad runs over a platform with substantial reach with the hope that a few people who love what they see, hear, or read would make a positive approach. Marketing over digital platforms, on the other hand, allows for targeted campaigning where ads are presented to customers based on their preferences or initial action. Take, for instance, transactional emails (order confirmation emails, receipt, password reset) which will only be sent to customers following their action towards the business. In other words, customers get only what they ask for.
Social media platforms usually possess a very smart algorithm that studies and collates user preferences. Such that specific ad campaigns are shown only to users with a specific inkling. This helps to increase the likelihood of sales as well as further cut down on the cost of marketing.
The world, they say, has turned into a global village. This has been made possible via digitization. Digital marketing allows ad campaigns to be visible in any part of the world. This gives small start-ups the rare opportunity to go global via the immense exposure provided. The internet abounds with stories of start-ups that became hugely successful over a small period due to the opportunities created thanks to the global nature of marketing via digital platforms.
Not only does marketing over digital platforms allow campaigns to be targeted at specific customers, it also allows for customer segmentation. Segmentation is the process in which large customer groups are further broken down into smaller groups of customers according to a particular classification. Segmentation increases the chances of sales, as well as cut down on cost.
Take, for instance, an e-commerce store that has launched new offers for women’s clothing. Using digital platforms, offering, for instance, email marketing solutions, allows the business to send emails to women alone. And if an offer is available only in certain regions, residents of given areas can be the only ones who will get the email.
For segmentation to work effectively, adequate information must be collected from subscribers.
The cyber world is getting noisier by the day, and any product or service that your business offers is most likely also being offered by thousands of other businesses. The average bounce rate on websites increased and the attention span of visitors is dropping. When visitors to a website do not immediately find what they are looking for, they leave for an alternative.
The key to staying relevant and keeping customers in this highly competitive business world is to ensure continuous engagement with your audience. Effective marketing allows businesses to stay competitive and relevant by engaging with customers through different digital media channels. These platforms allow businesses to answer customer questions, alleviate misconceptions, and even generate sales. This can be achieved via regular useful blog posts, newsletters, shows, promotions, and special offers.
The idea is to hold the attention of your customers for as long as possible while building a credible reputation.