Due to the omnipresence of digital marketing and social media platforms, it has become essential for businesses to incorporate strategies to meet their target customers online. As per the recent study-
Google currently handles 40,000+ search queries every second on average which is more than 3.5 billion searches per day! – In addition, Bing is involved in handling around 12 billion searches every month.
Hence, digital channels are increasingly being associated with the successful marketing and branding strategies of businesses. Digital marketing is all about optimizing the online presence of a business by connecting it with the target audiences in the right place at the right time.
In this digital age, time is running faster than us, and approaching people for the business is also changing as time changes. Traditional marketing has taken a step back and given the opportunities for digital innovations to transform the business industry and fast forward the process of meeting, connecting, and converting customers.
The traditional marketing strategies are gone, and the digital marketing strategies are stepping into the industry. Through the internet, you can not just bring a completely new group of customers, but can also retarget existing customers as well as retain your loyal customer base.
This post will help you understand how digital marketing can help your business optimize online branding, and boost ROIs. Let us first understand what digital marketing is and then we will understand how it can benefit your business-
What is Digital Marketing?
Digital marketing is defined as a marketing, branding, and advertising method channelized through the internet or electronic device. It is also understood as internet marketing or online marketing.
Nowadays, hundreds of thousands of businesses around the world use digital marketing campaigns, as they find them effective, result-driven, easy-to-implement, affordable, and measurable.
Available Digital Marketing Tactics for Businesses
Digital marketing is an umbrella term used for a wide range of online marketing tactics that are quite useful in increasing online presence, lead generations, and sales of businesses. Some of the most used digital marketing tactics for a business are :
Search engine optimization (SEO)
Search Engine Marketing (SEM)
Paid search or Pay per Click (PPC)
Display advertising
Social Media Optimization
Social media marketing
Content marketing
Conversion Rate Optimization
Email marketing
Influencer marketing
Affiliate marketing, etc
Why is Digital Marketing Important for a Business?
Digital marketing has become the new normal in the market, and if you are not aware of this, your business will not grow in the future.
Also, it brings lots of opportunities and makes your business grow, whether an established business or a startup!
As an owner, the only goal is to increase your profit, and if you want to see that profits in your business, try to incorporate the right digital marketing strategies to generate leads and boost conversions.
To increase sales growth, all you need is exposure in the target markets because if your audiences or potential customers can’t find anything about your business, you will lose a customer!
Digital marketing is way faster and more affordable than traditional marketing.
When Businesses should use Digital Marketing?
Some of the reasons that suggest your business needs digital marketing strategies are-
Your business is unable to maximize revenues
Your brand’s social media accounts are failing
Your site is getting traffic but no conversions
You are not getting any traffic on your site
Your paid ads are offering terrible results
Your brand does not have any content strategy, etc
So let’s check what magic digital marketing has that influences customers to become part of your business-
15 Benefits of Digital Marketing for a Business
1. Enables businesses to strategize using valuable data and analytics:
When a business uses digital marketing strategies, you can check how many people connect with your website every day.
In addition, you can track how many times they are staying on your website. Apart from that, you can track their location, age, and interest, from which source they come to your site, and many more!
2. Offers Higher conversion rate:
Converting a visitor into the customer is not a big deal when implementing digital marketing strategies. Start targeting your customers who you want. It would be best when you understand the category of your customers.
Digital marketing allows you for 2-way conversation where you can directly talk with your customer without including any third party. Through this, you can reach your customers at any time online. The to-the-point conversations impress the new customers and motivate them to stay!
3. Cost-effective than traditional marketing:
Imagine creating a stunning brochure for your business and sharing it with people offline. But does it sounds convenient? You don’t know whether people keep this with them or throw it into the trash. Once you create impactful visual content, you should take that to the social media channels.
This is the easiest way to generate new leads and boost SEO rankings. You can hire the best SEO or digital marketing experts who make nurturing strategies to build awareness for better enhancement. Along with that, this is a convenient way to save your money by boosting your sales rate.
4. Offers higher revenues:
It’s the ultimate logic when your business gets higher customers, they will achieve higher revenues.
A higher revenue rate can be generated with effective digital marketing strategies.
To get a profitable business, it’s your responsibility to advertise your brand in a good layout. When a business has a greater revenue growth expectancy, there is better to gain future opportunities.
5. Generates better ROI:
You can turn up your company’s growth by running successful digital marketing campaigns.
It would be good to create smarter branding, to achieve maximum return on investment.
By effectively tracking and monitoring the campaigns, you can analyze the results. Get ready to generate a steady flow of targeted traffic and enjoy the faster ROI.
6. Lets businesses Compete with big corporations:
In business, you need to compete with your competitors and leave them in success. So, by implementing digital marketing strategies, you can tackle large corporations.
In addition, digital marketing offers an affordable way to bring traffic and target the right customers.
7. Earns the trust and build reputation:
Digital marketing is the way to enlighten trust and build a reputation. The more reliable your strategies will be, the more you get the clients.
Once you target the right people, you will receive the potential customer. By implementing smart and innovative digital marketing strategies, you can get what you expect!
8. Enables you to learn about your competitors:
To leave your competitors behind, first, you need to understand their strategies and what steps they are taking to be successful in the industry.
The social media competitive analysis is an integral part of the business. To figure out all these things, digital marketing experts will help you and allow you to make the necessary efforts.
9. Improves the outreach of your business:
Digital marketing is an accessible way to improve marketing strategies and reach a global audience.
If you want to do your business high in the competitive world, make the necessary efforts. It’s high time when you should turn your business into the digital industry!
10. Increases customer loyalty
Along with connecting and converting new customers, retaining existing customers is also highly important for successful businesses.
Digital marketing helps in optimizing customer loyalty. Retained customers not only opt for another purchase but also recommend your brand to other target audiences.
As per research, around 40% of online shopping revenue in the USA comes from repeat customers. Digital marketing strategies help brands connect with existing customers and retain them through strategies like personalized email offers, social media engagement, etc.
11. Generate a Consistent Lead Pipeline
The main purpose of running digital marketing is to create a “sales funnel” of a business that is a system to generate consistent leads, conversions, and sales from the site traffic. Businesses can use digital marketing strategies to convert site traffic into brand enthusiasts.
In the lead generation phase, digital marketing campaigns generate awareness through-
Content marketing
Inbound Marketing
Referrals
SEO
SEM
eBooks
White papers
PR
Online ads
Videos
Direct emails
Viral campaigns
Social media, etc
Another phase of a consistent lead pipeline of a digital marketing campaign is lead nurturing to optimize interest and evaluation. It incorporates digital marketing strategies like-
Content marketing
Case studies
White papers
Drip campaign emails
Video marketing
Social media marketing
Newsletters
Webinars
Classes
ebooks, etc
12. Engages customer at every Buying Stage
Digital marketing lets business owners track every step that a customer makes in his or her buying journey. Five stages of the customer buying process are-
Allies & Aspiration- Defining scope and goal, and then educating and engaging stakeholders
Internal Investigation- Gathering existing research and performing internal stakeholder interviews
Assumption Formulation- Synthesizing internal insights and creating a draft framework
External Research- Using the draft framework for sharping external research and performing qualitative/primary research
Narrative Visualization- Collectively mapping out a visual narrative that shares your brand story and then using it for driving change
13. Gains brand credibility
With the booming prevalence of the internet in this smartphone age, digital marketing is the best way of gaining credibility and sustainability. Market research shows that digitally active brands are often considered more credible.
Through effective content marketing campaigns, companies can easily and efficiently address the doubts of the customers, clarify intriguing concepts, share knowledge and add value to their lives.
Your site’s ranking in SERPs (search engine results pages), high-quality content, etc help in optimizing brand credibility. As per a HubSpot study, companies that use blogs generate 67% more leads.
14. All results are measurable
One of the best benefits of digital marketing campaigns is they can be measured if they are offering the desired outcomes or not. It will let you determine how many people visited your site or saw your ad, the number of sales resulting from the ad, or your ROI.
Different data analytics tools like Google Analytics as well as social networks or ad platforms for example Facebook Ads and Google Ads share key metrics make to monitor the success of every digital marketing campaign.
Many trackable metrics and key performance indicators (KPIs) tell about the accomplishments of objectives of the digital marketing strategies. Some of the key digital marketing metrics businesses can use to measure the effectiveness of their campaigns are-
Cost-per-click (CPC)
Customer acquisition cost (CAC)
Return on investment (ROI)
Customer lifetime value (CLTV), etc
15. Levels the playing field for all competitors
Finally, digital marketing offers a level playing field for all the competitors functioning in an industry niche. So, be it an established business or a new startup, all can use digital marketing campaigns without breaking the bank.
Any business can use high-quality content, answer customers’ questions, rank for long-tail keywords, run ads on search engines or social media, and optimize brand presence quite effectively.
In Conclusion!
The COVID- 19 pandemic has forced us to bring the business into the online mode. We all live in the digital era where to get every service; we need to pick up our phone, turn on the internet, and search on Google.
Therefore, as an owner, if you desire to survive in this competitive business world, hire Digiacceron digital marketing experts to design personalized digital marketing strategies and make some relevant changes in your business with just a few taps!
In case of any doubts about the best-suited digital marketing strategy for your business, feel free to ask us in the comment section below.