It is estimated that over 40 per cent of the world’s population uses the internet or digital services over the internet. This fact alone makes internet, the strongest media that there is. There is no better way to market your product or service, if not over the internet. If you are asking ‘how’ digital marketing helps to grow your business, let’s ponder on ‘why’, first.
Why digital marketing?
Here are a few reasons:-
It makes it an even playground for businesses: No longer is digital marketing limited to big brands with a huge marketing capital. Anyone with an internet connection can now reach out to the masses and leverage the business. Unlike other mediums of traditional marketing, digital marketing assures a rather even playground for businesses to compete in.
Cheaper than traditional Marketing Strategies: Thanks to social media and e-mail marketing, digital marketing strategies can be chalked out at a far lower rate than traditional marketing plans like print, Television, radio and the likes.
Higher conversion rate: Conversion is the customer acquisition index in terms of digital marketing. With online marketing, you can now not only strategise a way for people to find out about your business when they want to find it and then lure them into your website and then expect to convert them into a customer all within a couple of clicks. Customer acquisition is now faster. So if the insight you can build about your strategy and redesign it from time to time.
Stronger Revenue streams: With mobile usage rate rising rapidly, mobile marketing has become one of the most important aspects of digital marketing. Thanks to a digitalisation of the market, one can now be informed about a product or service right now and in an instant that person can become a customer. It is no longer a long strenuous procedure. People can now order products or avail services on the go, and can have it delivered at home. Picking up an item from the store or opting for a service is only a click of the button away. The ease that this scenario has brought is directly reflected in the revenue flow. Omni channel is the new buzzword in retail, and it makes perfect sense to be present seamlessly across all the channels your brand is available – brick & mortar store, own e-commerce website, 3rd party market places, or the mobile app.
Now that we have discussed why internet marketing is the way to go, it simply leads us to the answer to the ultimate question as to how digital helps businesses grow.
Since the digital landscape makes it an even playground for businesses of all types, marketing strategies can be planned and customised at a more frequent rate and according to very specific expected marketing objectives. The fact that it is a cheaper way of marketing adds to its laurels. Be it a big brand or a start-up, one can actually build a very low cost marketing campaign at the fraction of the cost of traditional marketing techniques. They say most of business is about marketing. Well, with digital marketing any business can go from an unknown entity to a well followed brand based on a single campaign alone. All of this results in an increased marketing effectiveness. Digital marketing also allows precise targeting. Therefore one can maximise marketing efforts by simply targeting a suitable target pool rather than shooting an arrow in the dark. Online marketing facilitates engagement with customers to such an extent that it results in a far enhanced experience and thus increased customer satisfaction. Thanks to the high conversion rate, ease of use and well represented market, the overall customer retention rate through digital marketing is higher in comparison to other ways of customer acquisition. Lastly, a business is driven by revenue. Since we have already discussed as to how digital marketing is driving stronger revenue streams, for any growing businesses, digital marketing is the way to go.
Be it an old business or new, big or small, without the power of digital marketing, it is difficult to maintain repute in the market. One of the best things is that anyone with a little bit of know-how and a wee bit of practice can do digital marketing and one of the worst things about digital marketing is that everybody is doing it. Hence, there is need for specialised expertise and credible resources to help you stand out from the infinite no of businesses already floating around on the web and mobile. So be it an already established business or not, it is advisable that you find a digital marketing company of repute, if you really want to build your business. Market digitally, grow incredibly; is the truth of this era.