5 Reasons Why Your Business Should Focus on Digital Marketing
According to latest researches,only fewer than half of businesses have a defined digital marketing strategy!
Businesses, particularly successful ones, have defined structures. Such structures aim at achieving one profound goal – Earning More Revenues! No matter what your business structure is,the eventual goal of every company is to reach out to maximum numbers of clients who can make them earn more revenue.
The main way they drive this growth is marketing themselves to their audiences. But, one major problem that large numbers of companies still experience is stagnant or low ROI. The main reason for this is that businesses do not follow a structured marketing plan based on modern technological revolution, and hence, they end up losing a large clientele base.
There are companies that still practice traditional means of marketing, hence offering leverage to businesses that follow digital marketing strategy. If you doubt the importance of digital marketing in present industry scenario, then you must read this fact! In the very first quarter of 2016, 85 cents of every dollar spent in digital marketing will go to Facebook or Google, confirms Brian Nowak, an analyst at Morgan Stanley.
This is something insane! If this is the scene, then it is essential for businesses to employ digital marketing practices in their business.So, here we present to you 5 major reasons to why ‘digital marketing is a must in 2017!’
1. Digital Marketing Helps you Capture More Leads
The core essence of planning a digital marketing strategy is to capture more leads. You can capture fruitful leads for your business only when you develop and execute marketing strategies that target the appropriate group of customers, where there is more possibility to convert audiences into buying customers.
If you lack a digital marketing strategy,then you won’t be able to track the progress of your leads. If you are unable to quantify your targeted audience, then you would lose precious leads. Digital marketing helps to measure the success of any business in thepercentage rate of incoming leads converting into potential buyers. You can plan a digital marketing strategy that effectively includes five things:
• Clearly, explains vision of your business
• Identifies appropriate clients that fit the vision
• Plan and execute a solution that matches to their plight
• Explains usefulness of the product to the customers
• Create funnels that can transform customers into genuine buyers
To ensure that your digital marketing campaign is effective and successful you can use three different tools – Search Engine Optimization, Social Media Marketing, and Email Marketing.
These tools generate effective and quick interaction with the targeted group and deliver better results in terms of higher conversion rates.
2. Digital Marketing is Cost-Effective
Big companies don’t lack availability of funds or capitalization, but if yours is a small one, then you need to spend your money wisely. Digital marketing is an excellent promotional tool for small companies as it provides a better and cost-effective marketing platform that delivers results.
According to recent statistics,
• 40% of small companies claimed considerable savings by employing digital marketing techniques of promotion for their services and products.
• In 2016, 28% of businesseshave shifted their marketing budget allocations to digital marketing tools and techniques, and it was quite cheaper than the conventional means of advertising.
Digital marketer earns better Cost per Lead (CPL) than other marketing platforms!
You can organize a small setup of digital experts to serve your purpose. The other way is that you can even outsource your requirements to an expert firm; as such organizations have all the resources available to them that are necessary for a successful digital marketing strategy. You would also benefit from the intense research work and customized suggestions offered by such companies.
3. Digital Marketing Increases ROI
Planning an effective digital marketing plan for your business often needs a significant basic investment, which is why large numbers of businesses tend to stay away from this notion, particularly when they are happy with the revenue generated from their traditional means of marketing.
But, there is one thing that such companies are unaware of, and that is the digital marketing is not constrained to marketing only a website, and it can actually lead to high exponential growth. An effective digital marketing plan comprises a large number of online engagement techniques such as social media marketing, email marketing, app management, content marketing and SEO.
These aspects of digital strategy can be combined with analytics that measures the rate of success and can produce effective outcomes to increase market share and deliver enhanced ROI.
The higher conversion rates resulted from effective digital marketing methods can provide your business with loads of lucrative benefits in terms of higher and better revenues. As per the latest study conducted by one of the leading digital firms:
• Companies that have employed digital marketing techniques have experienced 2.8 times better revenue growth than their previous ROI.
• Medium and small enterprises using digital marketing methods will have 3.3 times better probabilities of expanding their business and workforce.
4. Digital Marketing Caters Well to Mobile Customers
Everyone residing and working in the major cities has witnessed the swift augmentation in the total number of smartphone users, mainly over the past three years. Hardly, you can see someone without using their phone that makes the total number of mobile phone users has now surpassed the overall number of desktop users.
Since the number of mobile users is growing, so the very nature of online marketing is shifting to mobile-friendly advertising that only digital marketing tools can support. If you want to have the edge over others and wish to promote your business through mobile channels,then a digital marketing strategy is a must for you.
Check out the other facts supporting this statement:
• 90% of adults in the United States prefer shopping from their smartphone devices.
• 78% of teenagers across the world prefer shopping from their smartphones rather than their desktops or laptops.
• 36% of children during their early teens have a mobile phone and access internet through it on a regular basis.
So, if you intend to influence your customer’s purchasing decision, then you need to have a digital marketing strategy that can cater to the mobile customers.
5. Digital Marketing Helps Building Brand Value
An effective digital marketing strategy can support you deliver your customers what you have promised to them. This would further develop a strong relationship with your targeted audience, who may become your loyal customers and even your brand ambassadors.
Also, an updated digital strategy can help your business adapt to frequent changes related to technologies and this way you can stay ahead of your competition. You can employ an integrated digital strategy that includes analytics, which would also help you to track alterations in your customer’s behavior and use that information to enhance your marketing efforts regularly.
Digital marketing is all about targeting right kind of people, generating more leads, bringing more revenue, and hence work towards survival of business.If you wish a lasting survival for your business, then plan an effective digital marketing strategy right now!