6 reasons why digital marketing is important for your business!
The advent of digital technology has significantly reduced the barriers to entry in the business world. The age of internet has enabled not only the tech related industry to flourish but it has also significantly reduced struggles faced by businesses in the traditional sectors. When the cost of business goes down, competition rises. And the need of the day is that any business, be it big or small must integrate a strong digital marketing strategy into its structure, besides other strategies to remain competitive. Digital marketing is the voice of the future! Digital marketing is slowly paving its way and taking over traditional marketing techniques in a number of ways and that too, at a very low cost.
Some of the reasons that digital marketing is gaining so much importance are as follows:
With the advent of tools like email-marketing, social-media marketing, video-marketing, PPC and SEO amongst others, cost of marketing has significantly gone down. Users can reach out to consumers through virtually a laptop and an internet connection.
What this means then is, while the cost of marketing has gone down, there is an increased stress on the quality and speed of idea generation and its implementation. Businesses need to keep coming up with digital campaigns that make them stand out in light of rising competition.
2) It is the most powerful form of marketing
The incredible outreach a user can get through the internet/ social media platforms is extraordinary. Businesses can reach out to international consumers within minutes. Not only that, the level of consumer engagement attained through digital marketing is difficult to achieve through any other channel. Moreover, a user has so much choice when it comes to picking up marketing platforms to build outreach. They can tailor their approach according to their products/customers/needs. For example, a traditional wholesaler will more likely go for search engine marketing while an fmcg marketer might create a greater impact through video and social-media marketing.
3) It allows measurability
Digital marketing allows users to measure their business success through online marketing web analytics and other metrics. This gives them a better understanding of their business and allows them to make informed decisions.
4) It targets the right audience
One of the greatest benefits of digital marketing over traditional marketing is that it eliminates wastage. For example, if a child care business puts up a billboard or distributes flyers in a neighborhood, its message is being conveyed to everyone (including people without children or people with children not within the relevant age group). It is difficult to assess how much of this message is actually received by the target audience. Also, it is difficult to measure how much of this message actually leads to sale conversion. With digital marketing, one can reach out specifically to the people who fall within the target groups and one may also tailor the strategy to the needs and specifications of the audience to provide a more customized marketing strategy.
5) More and more consumers are buying online or at least they do their research online
With the advent of e-commerce, it has become increasingly important that businesses have an on-line presence. Consumers start their buying journey online. They compare various products and their prices online before they make in-store purchases. Many prefer to buy online. Also, selling online gives a business significant opportunity to track metrics like site visits to sales conversion metrics or cart abandonment metric which gives key insights into consumer behavior.
6) It allows flexibility
Digital marketing allows a greater flexibility for a firm to experiment and retract strategies that are not working. Social-media posts can be deleted and recreated in no time. Firms can play between different marketing tools/platforms and measure the success rates of each.
Overall, digital marketing is a strong tool which can be utilized effectively to take a firm’s campaign forward and leave an impact in the consumers’ minds. It is a powerful tool, which if utilized tactfully can bring tremendous gain to a business and hence, It is very important to build a good digital marketing strategy.
Sundas Iftikhar is a marketer at Playbook Communications. She has done her MBA and has worked at Nestle Limited as a managment trainee.