The number of internet users in the world is constantly on the rise and so is the amount of time each one of us spends online. This has several implications for new, aspiring businesses. The internet has changed the way people shop and any business that fails to have an online presence is sure to miss out on opportunities.
Effective marketing is about catching your audience where they are most likely to be found and developing a strong connection with them before you can try and sell them your product. Considering the internet is the place where each one of us spends at least some portion of our day, online marketing or digital marketing is a highly useful tool that every business needs to utilize.
With technology advancing at a rapid rate, the world of digital marketing is only going to continue growing with it. One reason why it is so effective is that it focuses mainly on inbound marketing, i.e. it involves attracting potential customers through valuable content, instead of directly pushing them towards a brand or product. It is about gaining exposure and connecting with customers first before you can try and sell them your product.
In todayâ€™s world, this is the form of marketing that works best. Customers no longer wish to buy from companies that are constantly nagging them to purchase their products. Instead, they are looking for brands that they can trust â€“ those who have made a name for themselves in the market by constantly engaging with their target audience and fostering positive relationships with them.
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What is digital marketing?
Digital marketing includes all marketing techniques that involve the use of the internet to reach your target market. While traditional marketing relies on printed advertisements, phone calls or direct mail to inform customers about what you do, digital marketing is done online. Given the various forms of digital marketing options available, any business no matter how big or small can use it to connect with their potential customers and generate sales.
How can digital marketing assist an aspiring business to achieve its objectives?
If you are an entrepreneur launching a new business idea into the market, your first objective is probably to get your first few buyers as quickly as possible. You may have used some of the traditional marketing techniques for this purposeâ€“ a few advertisements here and there or perhaps discount vouchers for the first few customers. While these strategies to attract customers are useful, no business today can afford to overlook the benefits of digital marketing for their business.
Here are six ways digital marketing can help your business take off and reach its full potential:
1. Improves customer outreach
Digital marketing allows your business to reach out to a much wider audience than any other form of marketing. Most of the traditional marketing methods will only allow you to reach a limited audience. For example, a newspaper ad will only be seen by those who read that particular newspaper while a billboard will also only be seen by people living in that vicinity. Online advertisements can be used to target a much larger audience, even those on the other side of the globe.
2. Works for every marketing budget
Whether you have the budget to hire a marketing agency or wish to start small and manage your marketing on your own, digital marketing is a cost-effective medium that suits every marketing budget. Small businesses with limited funds often find it difficult to outdo their larger competitors when it comes to advertising their products. Costly advertisement channels such as TV or radio are often way over their budget and they must find alternative ways to reach their customers.
While digital marketing techniques such as emails, content creation, and social media engagement take time and effort, they can be managed with a limited marketing budget and still generate great results.
3. Provides valuable data about your customers
Digital marketing is a powerful tool that gives you valuable information about people viewing your website.
Google Analytics can tell you the number of people who have been on your website as well as their location, gender, and age. You can also find out the amount of time they spent on your site, which webpages got the most views, and how your traffic is changing over time. This information can help a business understand its customers better, allowing it to tailor its products and marketing according to their needs.
4. Helps build brand reputation and trust
Digital marketing is an excellent way to build the company’s brand image. A well-developed professional website, active social media presence and a blog that regularly features useful content are sure to attract your target audience and keep them engaged.
A strong online presence also helps establish trust. A business that puts in considerable effort in connecting with its customers online is sure to have a positive, trustworthy image in their minds.
5. High Return on Investment
The most important factor for business in determining whether a marketing expenditure is worth incurring is its ROI. Digital marketing offers a much better ROI than traditional marketing due to its low cost. Many digital marketing techniques such as social media campaigns and email marketing are very easy on the pocket.
According to a 2018 report by DMA, every penny spent on effective email marketing can generate returns as high as 32 bucks, which is an outstanding ROI!
6. Results are easily measurable
Every business wants to know which of their marketing techniques are producing results for them and which aren’t so effective. It allows them to make the best use of their marketing budget – any unnecessary expenses can be avoided and efforts focused on marketing techniques producing the highest ROI.
With traditional marketing such as TV ads or billboards, there is no accurate way to measure their effectiveness. On the other hand, the results of every digital marketing technique are easy to determine. For example, you may decide to launch a social media campaign for your new product and post several types of promotional content over a period of time. You can use various analytical tools to see which posts got the most views and resulted in conversions. It can give you an insight into how you can improve your future marketing campaigns.
To sum it up, digital marketing has several advantages for aspiring businesses. Whether you choose to invest your time and resources in content marketing, pay-per-click advertising, emails or SEO, it can be an excellent way to generate more traffic and sales and grow your business.
So, invest in digital marketing today and watch your business realize its full potential.
Featured image source: Freepik