Why Digital Marketing Should Be An Integral Part Of Your Business
Reach People Where They Spend Their Time & Money
In a nutshell, leveraging digital marketing's power ensures you engage your target audience by reaching modern-day consumers where they generally spend a great deal of their time and money - online.
However, while social media is a great place to find your potential customers, can you be sure they are buying products and services there?
According to research conducted and released by Forbes in their 'Are We Entering The Era Of Social Shopping?' article, nearly 25% of business owners are selling through Facebook, and 40% are using social media to generate sales. Not only does social media influence what people buy through recommendations (23%), a fully 30% of consumers say they would make purchases through Pinterest, Instagram, Twitter, or Snapchat.
With roughly 45% of the world’s population using social media for an average of 2 hours and 23 minutes per day, a staggering 37% claim they spend their social media time interacting with branded content.
Unfortunately, only 45% of marketers believe their social media efforts are paying off, and in the main, this is because they don't have powerfully aligned social media strategies. It's simple - those businesses that occasionally share some content on their profiles do not leverage the opportunity to maximize ROI using social media advertising.
While social media marketing and advertising are only two components withing the complex digital marketing arena, they are essential.
Providing Equal Opportunities For Businesses Large And Small
Digital marketing is a lifeline for small businesses, especially within today's highly competitive market, due to the same opportunities being available to enterprises ranging from family-owned corporations to multinational companies. Whether they operate in a brick & mortar, or an e-commerce environment, smaller companies can compete with their competition and reach a wider audience using a smaller budget to gain, and hold, a top-ranking position. Managed effectively, you can leverage powerful data insights to support smarter decision-making.
Digital marketing gives us unprecedented business intelligence levels due to the dissection of huge demographics that can then get whittled down into very targeted focus groups.
However, who are those groups? They are your potential customers—the very people you need to target. Because your intelligence is so aligned and focused on their specific needs, it connects with them at a level that traditional marketing methods cannot, and enables a connection that influences their decision making.
Cut Costs, Protect Your Bottom Line, And Scale Your Business
Being empowered by this powerful data enables you to use your intelligence to cut costs in areas where you don't appreciate a return on investment to increase spending and efforts to get the best results.
Streamlining your campaigns optimizes results, and it may be that you still decide to allocate some of your marketing budgets to traditional methods. It's often the case that businesses like to have a mix in their marketing plan. That's fine if you understand the importance of digital marketing and how what you learn about your customers carries over to other marketing methods.
Easy To Scale & Adapt
As with any marketing, there’s an initial investment required to get traffic flowing. However, digital marketing's importance soon becomes very apparent when you discover how simple it is to scale and adapt as your business grows.
Perhaps one of the most significant benefits of digital marketing lies in getting instant results. Data analysis allows you to quickly reduce wasted advertising spend and lost revenues, illustrating how cost-effective digital marketing is, particularly for a small business.
Email marketing has the highest ROI of any marketing method and gets classed as a 'conversion machine' due to delivering highly relevant content to a subscriber’s inbox. Data released by Hubspot in their 'Ultimate List of Email Marketing Stats for 2020'
states that email marketing generates $38 for every $1 spent, which is an astounding 3,800% ROI, making it one of the most effective options available, and incredibly powerful when deployed as a combination with social media and content marketing.
It gets reported that content marketing can generate 3X the leads for about 62% less than traditional marketing. A Forbes study found that companies using social media outsell 78% of businesses who don’t use social media.
Cost-effectiveness is a priority for most companies, particularly small enterprises, and especially within our COVID-19 pandemic world where most consumers now search for products and services or whatever else they deserve online, and whereby every dollar spent matters.
Humankind Is Notoriously Impatient!
Even when performing an online search, most people won't read past the first four to five pages of results. It is not enough to only have an online presence; you must leverage the power of great SEO to ensure your website gets optimized with relevant keywords that make your brand easily searchable and ranking highly within search engines.
You must have an online presence to be relevant to the vast majority of customers, and this is where digital marketing comes into its own it gives you that presence.
To be relevant online, you must:
Ensure your website is user friendly
Leverage the power of cleverly aligned and targetted SEO
Utilize active social media profiles to engage with customers
Use some paid media advertising, such as AdWords, Instagram, Facebook Campaigns, or Promoted Tweets.
Increase your positive reputation reviews. Manage reviews well, and be sure to solicit more positive reviews.
Integrate all touchpoints, ensure your online targeting world in unity as a robust ecosystem that can reach, engage, and retain your target customers.
If you would like to learn more about how you can leverage the power of digital marketing, why not contact one of Turnclicks Marketing’s friendly advisors. We will be happy to chat with you about how you can gain that all-important competitive advantage and anything else we can do to support you.