Top 5 Reasons your Business needs Digital Marketing
Digital Marketing, aka online marketing, may be a term you’ve noticed casually thrown about in conversations. And it’s so easy to think: sure, everyone’s online these days, and therefore it only makes sense to market online (where the crowd is). But believe it or not, many businesses today are still ignorant, steadfast in their current/obsolete marketing strategies, and are skeptical of digital marketing.
It was recently reported by Bloomberg that many physical retailers are currently facing the threat of bankruptcy as they lose out to online shopping. As consumers become increasingly tech-savvy and active on the internet & social media, it is a clear sign that the typical brick-and-mortar business alone won’t cut it anymore. Therefore, in attempts to tap into the rapidly growing and lucrative online customer pool, small & medium enterprises (SMEs) are now racing to bring their business online.
Below are the top 5 reasons your business needs digital marketing, not just for growth, but sometimes, even for survival.
1. DIGITAL MARKETING CAN BE COST EFFECTIVE.
The traditional methods of marketing — printed ads, direct mail, billboards, radio & tv all comes with a hefty price tag till this day. However, in vast comparison to that, the internet is free. Social media accounts are free. If you are not convinced, this article breaks it all down for you.
In addition to that, Gartner’s Digital Marketing Spend Report found that 41% of marketers were able to reinvest savings obtained through digital marketing. In which case, marketers will be able to stretch their marketing budget investing into other avenues.
2. DIGITAL MARKETING LEVELS THE PLAYING FIELD.
In the early days, marketing was considered to be a luxury enjoyed by the larger corporations and conglomerates. But digital marketing has now changed all of that.
Being considerably affordable, SMEs and startups are now also equipped with the tools and expertise to perform the same marketing efforts akin to big businesses. Consequently, giving the SMEs a fighting chance to attract their share of the business.
With digital marketing, SMEs are also able to expand their reach and engagement to prospective customers situated any and everywhere around the globe. This makes the marketplace boundless; a feat that was once thought impossible and unthinkable. The cliche saying, 『the world is your oyster』 should come to mind. 🙂
3. DIGITAL MARKETING ENABLES ENGAGEMENT WITH YOUR TARGET MARKET.
While the traditional methods of marketing are somewhat effective, it leaves much to be desired. To name a few:
- It’s difficult to reach your desired market
- Effectiveness of your marketing efforts are vague
- Limited engagement, if none with your targeted audience
The tools of digital marketing have now made it possible to target your marketing efforts to your desired crowd, to have real-time engagement with your prospects, and measure the effectiveness of your marketing strategies through social media analytics and data reporting.
All these are great advantages to fully understand your customer base and how to convert followers into paying customers. 😉
4. DIGITAL MARKETING HELPS BUILD BRANDING AND TRUST.
Being heard is important, but being heard by a potential customer is a step closer to winning. One of the main selling factors of digital marketing is that it enables a business to reach and engage with a targeted audience. These prospects are most likely willing and open to getting to know more about your product or business. Upon receiving your awesome product or delivery on a promise, your brand would have established a good reputation with them; securing future business/interactions with them.
When your brand makes an impression, it will spread. Mostly via the oldest trick in the book — word of mouth. And according to a study conducted over 25-thousand consumers originating from over 50 countries, Nielsen Online Global Consumer Survey reveals that 90% of respondents stated that they would trust information regarding a brand/product/business should they trust the source of the information.
Source: The Nielsen Company
Positive reviews and testimonials from your previous customers will also help establish the credibility of your brand and further instill trust in your potential clients. 🙂
5. DIGITAL MARKETING HELPS GENERATE MORE REVENUE.
As opposed to what some might believe, digital marketing isn’t only about driving traffic to your website, it is about driving a targeted audience to your online platform where you will be able to attract, engage with them and retain them. Thus, converting them into leads, sales, or followers.
Attracting more of the right audiences will improve your brand’s visibility while generating hype. All these efforts has the potential of increasing revenue for your business.
A case study conducted by Google with IPSOS Hong Kong confirms that SMEs utilizing digital marketing have 2.8 times better chances of obtaining better revenue growth than companies who do not apply digital marketing strategies.
… 「And if we don’t catch up, we’re in trouble.」
Digital marketing is not just the future of marketing. It is the also the 『now』. What do you think?
If this post has enlightened you and you:
- Want to know more about digital marketing
- Struggle to attract & reaching targeted audience through your website or social media platforms
- Struggle to maintain your social media accounts
- Just need assistance in digital marketing altogether
We are here for you! Let’s have coffee. 😉