7 Reasons Why Digital Marketing Can Help You Grow Your Business
With the change and evolution of modern technologies, small and medium businesses are doing everything they can to keep up, which can be said true for the rest of human society. Brick-and-mortar businesses are either changing their business models to an online one or beefing up existing marketing efforts with digital marketing strategies – in an attempt to capture a growing and very lucrative online marketplace.
For it is the process of attracting targeted audiences online that will spell the difference between asuccessfully thriving business – and a failed one. Even if you receive tons of daily traffic to yourwebsite, they would not amount to anything unless they convert to leads or sales. In the digital arenawhere business and commerce are heading to, Digital Marketing tools and techniques provide business owners the best chances for competition, survival and even business growth.
The following 7 reasons will show you why the use of digital marketing is not only investment-wisedecision but also an effective marketing channel that can help you grow your business.
1. Digital Marketing Levels the Online Playing Field
Gone are the days when business owners still welcome the notion that Digital Marketing is only for thelikes of multinationals and large corporations that have the sufficient resources required to mount anonline marketing campaign. Digital Marketing actually levels the playing field, providing small andmedium enterprises the chance to compete against the big boys and attract their share of targetedtraffic.
With digital marketing, small companies now have the resources to perform sales and marketingprocesses that were previously available only to large corporations. Without a call center, smallbusinesses can engage effectively with multiple customers, even to customers from any parts of theworld even if they don’t have physical stores or branches in these locations.
2.Digital Marketing Is More Cost-Effective than Traditional Marketing
Small businesses have very little resources and even capitalization. This is why Digital Marketingprovides them with a better and much more cost-effective marketing channel that delivers results.Gartner’s Digital Marketing Spend Report highlighted that up to 40% of respondents claimed gettingconsiderable savings by using digital marketing methods of promotion for their products and services.
That is why according to the Gartner survey, 28% of business owners surveyed will shift marketing budget allocations from traditional media channels and invest them into digital online marketing tools and techniques.
confirms this as shown in the chart below that confirms how digital marketers get better Cost-Per-Lead (CPL) compared to other marketing channels.
3.Digital Marketing Delivers Conversion
Businesses marketing products and services online measure success by the percentage rate ofincoming traffic gets converted into leads, subscribers or sales, depending on the intended purposesof your website. Without conversion, all your traffic would mean nothing and all your marketing efforts will simply go to waste. That is why business owners are streamlining their digital marketing campaigns towards conversion optimization, making it a top priority above everything else. There are several tools and techniques that you can use for your digital marketing campaign such as Search Engine Optimization, social media marketing and email marketing. As seen from the chartbelow from HubSpot’s
2013 State of Inbound Marketing Report
, these three that generate quick andeffective communication and interaction with targeted audiences will deliver better-than-averageresults in terms of higher conversion rates.
4.Digital Marketing Helps Generate Better Revenues
Higher conversion rates generated by effective digital marketing techniques will deliver loads ofprofitable benefits for you and your business in terms of better and higher revenues.
this in a study with IPSOS Hong Kong, claiming 2.8 times better revenue growth expectancyfor companies using digital marketing strategies to those who do not.
With better revenue growth expectancy, small and medium enterprises using digital marketingtechniques will have 3.3 times better chances of expanding their workforce and business – openingtheir doors to better, larger and farther reaching markets both locally and abroad. Google’s Asia-Pacific Head of SME Kevin O’Kane describes the Internet as rocket fuel for growth for small andmedium enterprises.
5. Digital Marketing Facilitates Interaction with Targeted Audiences
One of the reasons why digital marketing is taking over traditional marketing channels is the ability ofInternet marketing tools to interact with targeted audiences in real time. Engagement in any form iswhat your customers expect to receive when interacting with your brand or business. How yourbusiness handles such engagements and interactions will spell the difference between businesssuccess and failure – just like what eMarketer’s report
Key Digital Trends for 2014
is saying as shownbelow.
Interacting and providing your customers with proper engagement points can give you an insight ofwhat your targeted audiences want. This vital information will steer you towards making the right set ofnext moves, provide your customers with an even better experience, develop good relationships withthem – gaining their loyalty and trust that you will need when your business begins to grow.
6. Digital Marketing Caters to the Mobile Consumer
Undoubtedly, mobile internet will be the next wave of information dissemination and communicationchannel, brought about by the rapid proliferation of smartphones, tablets and other internet-enableddevices. These mobile devices have become a central part of American life that
91% of adults
in theUnited States always have their devices within reaching distance.
Now would be the best time to have digital marketing campaigns intended towards mobile consumers,paving the way for them towards achieving better growth and faster expansion. Mobile gadgets haveevolved from being mere alternatives for laptops and personal computers, into something that isinfluencing their purchasing decisions as confirmed by another report from
7.Digital Marketing Builds Brand Reputation
The power of digital marketing lies in its ability for attracting targeted traffic. These types of audiencesfor your content are most likely already ready to know more about your brand, products or servicesand may be interested enough to purchase what you have to offer. Delivering on what you promisedwill help you develop a better relationship with your targeted audiences, help them transition intopaying customers that will go back and interact with your site some more – on a regular andcontinuous basis.
This will prove beneficial for your brand reputation, as satisfied customers will most likely tell otherpeople about their experience with your brand, product or service. Your brand reputation will go viralas expected, further opening new doors of opportunities for reaching bigger markets and attainbusiness growth.
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