It may come as no surprise that the marketplace has become increasingly more digital as technology continues to evolve. The benefits of digital marketing are becoming more prevalent every day. More and more consumers are researching and buying products online. According to Forbes, 82% of consumers conduct research online. And, Tech Crunch reports that 79% of people shop online. So how do you reach these consumers? Here’s the answer: digital marketing. More and more small businesses are implementing digital marketing tactics to effectively reach and engage their target consumers online. In fact, U.S. digital marketing spends will rise to about $332 billion by 2021. Digital marketing tactics have proven to be the most cost-effective way to reach potential customers. Wondering what the fuss is about? Check out the top 10 reasons your business needs to take advantage of the benefits of digital marketing:
1. Digital marketing is the most powerful form of marketing.
Digital marketing has the potential to transform the way that you reach and engage your customers. But you don’t have to take our word for it. Here are some real examples of how digital marketing tactics are helping businesses just like yours reach their target market and influence conversions:
2. Using digital marketing tactics is the most cost-effective way to market your business.
One of the most important benefits of digital marketing is that it is the most cost-effective way to market your business. When it comes to traditional marketing, it’s very difficult for small businesses with limited budgets to compete with larger businesses for ad space. However, with affordable digital marketing tactics, small businesses can get more for their marketing spend.
Consider this – a small business can expose over 1,000 people to its products and services for less than $3 using social media. While that same exposure through direct mail costs about $57 and through television ads costs about $28.
While traditional marketing tactics also often come with various hidden costs, the only cost to digital marketing is time. SEO, content marketing, and social media engagement take time to work their magic. However, there are still digital marketing tactics such as pay-per-click, display, and social media advertising that can produce quicker results.
3. Digital marketing is the most measurable form of marketing.
How do you know if your marketing is working?
The only way to know for sure is to measure your success over time. While it can be difficult to track the success of a traditional marketing campaign like a radio advertisement or mailer, every digital marketing tactic that you use is measurable. This benefit is every reason why you need to invest in digital marketing.
Digital marketing analytics takes the guesswork out of determining whether your marketing is actually working. By measuring your digital marketing campaigns in real-time, you can see which tactics are working and which are not. Then, you can adjust your campaigns for greater success. You can also take the insights that you’ve gained from the process to improve future campaigns.
For instance, let’s say that you want to create a social media marketing campaign for a new product. You’ve decided to publish a series of social media posts over a two-week period. With social media analytics, you can see which posts were the most popular with your target audience and which drove the most conversions. You can then use this insight to try to reproduce this success with future campaigns.
Digital marketing analytics allows you to more effectively use your resources and allocate your marketing budget. Since you are no longer guessing about what’s working and what isn’t, you can reduce unnecessary expenses and focus your efforts on the strategies that are most likely to improve your ROI.
4. One of the greatest benefits of digital marketing is that it allows you to target your ideal buyers.
When you purchase billboard space or place an ad in a magazine, you’re taking a shot in the dark that this messaging will reach its intended audience. Though there are certainly ways to increase your chances of success with traditional marketing tactics, it just doesn’t offer the same targeting capabilities as digital marketing.
With digital marketing, you can ensure that the right consumers are viewing your content. SEO allows you to reach those consumers who are searching the web for content and topics that are relevant to your business. While pay-per-click, display, and social media advertising enables you to target those who are most likely to be interested in your products or services based on demographic information and general characteristics.