The world we live in today is overruled by technology and the internet, making us the citizens of one, global village. This evolution boasts several perks such as improved communication, exposure and awareness, economical expansion etc.
Yet this emergence of digitalization has surpassed the traditional ways of marketing with its improved competence, greater access to target audience, quicker lead generation, higher sales revenue turnovers and improved marketing strategies through contemporary tactics, rendering traditional methods obsolete.
The direct and most explicit impacts of digitalization are on the business to consumer relationships. The multiple online users of social media and other forums are the potential leads with an access to a vast array of different brands to choose the product of. With such dense competition in the market, the only way businesses can truly construct a prosperous future is through the employment of effective digital marketing strategies.
To further understand, let’s take a look below.
The Importance of Digïtal Marketing
- In 2016, more than 34% businesses has established a unified digital marketing plan
- Google is responsible for 94% of total organic traffic. (Web Presence Solutions, 2017) (Source: https://www.hubspot.com/marketing-statistics)
- 61% of marketers say improving SEO and growing their organic presence is their top inbound marketing priority. (HubSpot, 2018) 70–80% of search engine users are only focusing on the organic results. MarTech, 2018) (Source: https://www.hubspot.com/marketing-statistics)
- 28% of searches for something nearby result in a purchase. (Google, 2016) (Source: https://www.hubspot.com/marketing-statistics)
The aforementioned statistics have been collected from varying sources of information. The statistics implore the different customer responses and the effectiveness of different types of digital marketing strategies such as local SEO, Content Marketing, Organic Search etc to prompt lead generation.
Why is Digital Marketing Important to Businesses?
The reason why employing the right tools to implement the most effective digital marketing strategies is crucial for your business is because of the omnipresence of the internet which is dense with competition and bursting with lucrative opportunities.
Another reason why drafting effective digital marketing strategies for your business is imperative is because this is the pervasive marketing method, and according to forecasts, will soon be outperforming the effectiveness of traditional marketing methods. As a result, the dominance of the internet will have rendered digital marketing strategies as competent and effective tools to achieve direct sales through, at minimal costs.
Last but not the least, consumers have become more inclined to entrusting online methods of purchases for numerous reasons such as easy access to brands, variety, cost comparisons, convenience, doorstep deliveries, and even pre-product/service launch deliveries. Such exclusive treatments are simply unrivaled, making the non-digital ways of marketing outmoded, unless integrated/ applied in digital strategies. In conclusion, because the market itself has shifted from offline to online platforms, it is essential for the businesses/ suppliers to do so as well.
Why Has Digital Marketing Become Core To Every Company’s Future Strategy?
It offers a marketing platform to all kinds of businesses
The internet is a forum shunned of hindrances or obstructions, allowing all kinds of businesses to employ digital marketing strategies to survive, grow, and expand. Unlike the traditional marketing methods where the market was dominated by a monopoly or monopolistic business, the contemporary marketing methods through digitalization provides an equal opportunity to all kinds of businesses, creating an even tougher competition in the market.
Since digital marketing strategies such as Content Marketing, Organic Searches, Video Marketing, Social Media Marketing or even E-mail Marketing are relatively cheaper, they are affordable by small to medium businesses as well, giving gigantic businesses a tougher time by sharing their traffic. As a result, employing effective digital marketing has become a core to every company’s future strategy.
The lead generation through digital marketing is quicker in liquidizing into direct sales due to a higher business to consumer engagement.
It reaches out to mass market and target audience
Drafting effective digital marketing strategies means improving your online presence, developing an active and engaging social media presence and being able to cater to online consumer base. The reason why this is so crucial for the growth, development, and prosperity of your business is that through the employment of effective digital marketing strategies, you are able to reach out to a mass audience, and effectively, your target audience.
In just 2018, it was reported that most of the online users have signed up for accounts with at least 7 different social media forums. Compared to the statistics of 2013, an average online user had around 3 social media accounts. Such a significant rise in the number of users indicates the vitality of mass market that the online world has to offer. Inevitably, employing smart and effective digital marketing strategies becomes vital.
The ability to actively reach out to a mass market, and condense this procedure to reach your target audience allows you to generate maximum leads which provide you with higher probability for sales funnels, leading toward direct sales.
It has promising conversion rates
It is already understood how digital marketing strategies offer room to all kinds of businesses to market themselves and construct a strong online presence in order to be more accessible to online users which helps these businesses in reaching out to mass and targeted audience, in order to generate traffic. However, the effectiveness of digital marketing strategies is far more substantial as it actually promotes conversions.
Conversion is basically the conversion of the traffic generated on a business’ website or social media, which then turns into supporters, leads, subscribers, clients or sales. This is where the business earns monetary rewards on its activity, leading to sales revenue generation and profitability.
The reason why effective digital marketing strategies are so important to businesses is because they allow them to focus on improving their conversion rates in order to generate higher direct sales and sales revenues. In fact, digital advertisements can actually allow condensing and customizing marketing strategies to enable Conversion Rate Optimization, leading toward higher direct sales.
One effective way for you to direct your digital marketing strategies toward Conversion Rate Optimization (CRO) is through Organic Searches to reach Search Engine Optimization.
Another effective digital marketing strategy to adopt for CRO is E-mail marketing as it offers room for customization, and can conveniently be personalized to target groups of potential customers or individual potential customers.
In conclusion, the higher the conversion rate of a business is, the higher will be its profitability through revenue generation. In fact, in a study published by Google with IPSOS Hong Kong, it was revealed that the revenue growth expectancy of businesses employing digital marketing strategies was 2.8 times higher, in comparison with those who did not. The Asia-Pacific Head of SME at Google, Kevin O’ Kane considers the online market to be rocket fuel for the growth, development and prosperity of infant or sun-rising businesses.
It caters to the mobile market
The rise of smartphones, tablets and other portable devices has remained pervasive. In fact, according to researches, around 91% of adults in the United States of America have mobile devices within an arm’s length, and an average American adult spends around 3 hours a day on their Smartphone.
Such statistics allow businesses to evaluate the importance of mobile marketing as a niche focus when devising effective digital marketing strategies. Owed to the convenient portability and user-friendliness of these devices, the mobile user is rapidly increasing in number, drawing business’s and marketers’ attention to focus on mobile marketing as a separate branch of digital marketing.
To devise effective mobile marketing strategies, businesses must focus on not only improving their presence on Organic Searches and Social Media, but they must also pay attention to the rising demand and significance of mobile apps in today’s world.
An average mobile user depends on mobile applications to make purchases or to sell. Apps such as Amazon or EBay have gained high popularity, allowing consumers the feasibility in accessing the market and making purchases. As a result, businesses must focus on application development in order to reinforce themselves as mobile marketers and improve their mobile marketing strategies.
It is a cost-effective method of marketing
Traditional marketing is demanding and costly. Businesses need not only improve their level of creativity, they must also be financially well-equipped in order to promote themselves through traditional marketing strategies. Some of these strategies include promoting your brand through billboards, brochures, Television advertisements, radio broadcasts, sponsorships and etc.
Print media and marketing requires substantial preserves of capital and finances in order to execute these strategies, effectively enough to reach target audience. And a setback of traditional marketing strategies is that, more often than not, there is no actual guarantee of whether or not the target audience will actually be reached out to.
In comparison with traditional marketing strategies, digital marketing strategies are significantly cost-effective. In fact, according to Gartner’s Digital Marketing Spend Report, it was revealed that, “Up to 40% of respondents claimed getting considerable savings by using digital marketing methods of promotion for their products and services.”
The same report mentioned that more than 28% of the businesses, after such savings, plan on allocating their most of their investments in digital marketing channels, minimizing their investments on traditional marketing strategies.
In fact, small to medium scale businesses actually have the luxury to explore and employ free online tools to devise effective digital marketing strategies such as Google Alerts, Talkwalker, Freedly, Zest, Hootsuite and Buffer, and etc. These tools may not be extremely effective in completely optimizing organic searches or SEO for your business, but they are definitely useful in the progress of initial stages of brand establishment, brand development and brand promotion.
It is an effective method of building brand reputation
The key to the prosperity and success of a small to medium scale business is through its highly esteemed reputation. The market today, specifically the online market, is highly concentrated and extremely competitive. As a result, businesses need to put their best foot forth for a compelling, attractive and reliable image that could be sold to their customers. The customers already have a vast number of options to choose from and plenty of options to spend their money on- what makes your business worthwhile?
This is where the effectiveness of your digital marketing strategy leads to a highly regarded reputation. Your reputation is developed based on your brand name; your market share, exposure and access, your product/ service’s quality, your delivery time, and most importantly, your customer service and how well you cater to your clientele.
What an effective digital marketing strategy allows you to solidify is a strong online presence, making your brand not only available, but accessible to your customers. The modern day buyer is equally as how they are being catered to and responded to, as they are concerned with the quality of the product/ service being sold to them. Since the customers are increasingly becoming concerned with a product or service’s after-purchases services, it has become even more imperative for businesses to devise and implement effective digital marketing strategies in order to remain actively present online and proactively promote customer engagement.
It enables the development of trust in a B2C relationship
In today’s world where paranoid, anxiety and distrust is ubiquitous, a trust-worthy B2C relationship is a prized possession for any business. Such trust can only be achieved through effective digital marketing strategies.
The question arises- how is this possible?
Well, according to the Nielson Global Online Consumer Survey conducted on 25,000 consumers belonging to 50 different countries, it was observed that 22,500 respondents claimed to believe in the data, information or feedback they would receive about a business’ product or service from the people who have already had experiences with the product or service.
Employing effective digital marketing strategies allows businesses to develop a strong online presence, making room for customer feedback, reviews and testimonials about the product/ service which instills a sense of trust in the traffic generated to the business’ website.
So whether you are an emerging or well-established business, formulating effective digital marketing strategies is imperative for your business’ future growth.