10 Importance of Digital Marketing
Updated: May 1, 2021
In the last few years, the world has increasingly seen a shift from analog to digital. This is evident in every aspect of human life. Now, more than ever, the world is consuming more digital content faster than at any other time in existence.
This has presented a new challenge, and more importantly, an opportunity for existing businesses and individuals looking to start a business in the future. Challenge because they have to shed analog structures for the more effective digital one. Opportunity because it’s a great time to be in business.
Digital marketing is the best way to serve and profit from the increasingly digital-conscious customer base. Individuals and businesses are starting to realize this. It’s no longer uncommon for digital departments and agencies to emphasize digital marketing in their marketing efforts
What is digital marketing?
Digital marketing is the use of the internet and online-based digital technologies to promote products or brands via one or more forms of electronic media.
The most popular forms of digital marketing include:
Website (SEO content)
Online video content
PPC (pay-per-click) advertising
Mobile marketing (SMS, MMS, etc).
Benefits of digital marketing
Digital marketing is here to stay and it’s good sense to know the benefits. The following are a few of them:
1. Increases your reach
According to the latest Statista report, more than 59 percent of the world’s population is using the internet. Digital marketing offers marketers the smartest means to reach customers. Traditional marketing mediums such as print ads, direct mail, billboard, or even TV can not match this.
According to the Digital 2021 Report released by Hootsuite, the average individual spends half the time they use the internet on TV. With digital marketing, you’ll be bringing your products and services to the place your prospective customers spend the most time.
2. It offers target marketing
No matter what your business does, everyone can’t be your customer. The best ROI is gotten when your digital marketing campaign is directed at your ideal customers. With traditional marketing, you may get a billboard promoting products to a particular demographic area even though it may only be relevant to a small number of people. Digital marketing helps you to avoid this and cuts right to the chase via targeting.
Target marketing is the method of promoting your products and services to only your ideal customers. Google and Facebook are examples of online platforms often used for target marketing.
3. It encourages Interaction with potential customers
Digital marketing helps to improve customer satisfaction.
Well, it’s easier to resolve customer dissatisfaction with business websites and active social media accounts. Digital marketing efforts will help to reassert your business' image as a customer-centered one. You’ll also build brand loyalty as your satisfied customers grow to become self-motivated promoters.
4. It improves brand reputation
Reputation is important to any business that plans to be around for a long time. When it comes down to it, a customer will go for a brand with a more established reputation. Digital marketing is the easiest, cheapest, fastest, and most effective way to improve your brand’s reputation.
As your marketing campaigns reach the various online platforms, you soon become known for products and/or services.
5. It’s cost-effective marketing
One important advantage of digital marketing is that it can be given access to all interested businesses. This is unlike traditional marketing which is generally expensive and technically cumbersome to small and medium-sized brands with limited resources.
For instance, for $5 a day, a business can carry out a target marketing campaign for up to 1000 people. Google offers as low as $1 per click. Digital marketing has leveled the playing field for small businesses.
6. It has a better ROI and ROAS
When drawing up a digital marketing campaign, the potential ROI and ROAS is key. ROI and ROAS stand for Return on Investment and Return on Ad Spend respectively.
In the traditional style of marketing, budget allocations are done individually for various marketing mediums with limited returns. Now that marketing has become more digital, returns have drastically improved. Just a little investment in email marketing medium promises substantially increased customer engagement.
To put it simply, digital marketing increases market reach which in turn increases your revenue.
7. It provides analytics
Data is probably the most valuable commodity in today's market. Google and social media platforms provide insight into how well your marketing efforts are doing. That's not all. You also get the hint on the things to improve and the ones to stop.
Once you understand and analyze the data from digital marketing campaigns, you will make more informed decisions.
8. It's easy to adapt
The ability to seamlessly adapt digital marketing to trends and improvements is perhaps one of its most important aspects. For instance, you can start your campaign with $5 per day per ad. Analyze the results after 48 to 72 hours and incorporate improvements into the next round of ads.
After a short period of testing, you'll have a more defined, effective ad.
This opportunity is not available with traditional marketing. If you don't get it right the first time, you're stuck.
9. It enables cross-platform strategies
Cross-platform strategies mean planning and executing effective campaigns across multiple digital platforms such as Google, email, Instagram, YouTube, Facebook, etc., simultaneously.
Digital marketing affords you the opportunity to take your business directly to the multiple places your customers are spending their time.
10. It allows for integrated marketing with mobile technology
People are now using their mobile phones to run businesses. The number is increasing every year. Some reports have put the figure at a 35 percent increase in the last year. Customers are not just buying, they are also reading reviews and scanning product information.
Marketers have used digital marketing to tap into this massive opportunity.
With the numerous benefits of digital marketing listed above, the future of business looks rather promising. As more people are coming into the digital playing field, you will need to improve your strategies to stand out. Use more than one digital marketing medium at a time. Analyze, improve, and readapt your strategies. And the market will be yours.