Updated: May 31
Today, digital marketing, as in marketing via the web and social media platforms, is the most effective medium to gain leads and conversions. Companies and brands are shifting from traditional marketing, such as TV ads, billboards and mail-outs to digital marketing. In this article, we explain why digital marketing has become the communication medium of choice for companies the world over.
As technology evolves, so do consumers. Shopping is the fastest-growing activity consumers are doing on their smartphones and most product searches begin on Google and Amazon. Brands need to keep abreast of all the latest digital marketing trends to succeed. If a clothing brand decides to keep all its marketing efforts offline, it will miss out on a big chunk of opportunity to sell its products. If your product can’t be found in an online search, you are setting your company up for failure. This is why most companies are incorporating digital marketing channels into their marketing strategy.
Low Barrier to Entry
Digital marketing is scalable so businesses of all sizes can benefit from it. Television advertising still has the highest views-per-dollar of any advertising medium, but the starting cost is extremely high and unattainable for many small businesses. On the other hand, digital marketing can cost as low as zero dollars. It’s the cheapest source of marketing and a relatively small investment in digital marketing goes a lot farther than print and electronic advertisements.
Website and social media platforms allow you to make your reach global with a very small investment. Currently, the total population of the world is 7.67 billion. Out of this total, almost 4.4 billion people are using the internet in 2019, with a 9.1% year-on-year increase. Approximately 3.48 billion people are active on social media websites and 3.26 billion people use social media sites on their smartphones. With the right digital marketing strategy, the world can be your oyster!
Measure & Track
Many businesses struggle to track their traditional marketing efforts. You can never accurately report on how many people saw your billboard. For digital marketing, a number of tools are available that can help anyone measure and track the results of their digital campaigns. With the right tools, it is easy to determine your target audience and goals and measure the performance of each ad. The best part is that most of these tools are affordable and user-friendly. For example, Google Analytics is absolutely free and website owners can use it to track digital advertising ROI.
Generate High Revenue
Most businesses realize that there’s a direct correlation of new sales to online marketing efforts. According to Google, companies which use digital marketing strategies have 2.8 time better revenue growth expectancy. With digital marketing techniques, small and medium enterprises will have 3.3 times better chances of expanding workforce and business. Digital marketing opens doors to wider and farther reaching markets, both locally and internationally.
Since you can track the effectiveness of each digital campaign down to a single ad, it is very easy for businesses to tweak their marketing strategy. You can also try different things and see what works best for your brand. This isn’t always possible with traditional marketing since the high cost discourages experimentation.
Before it wasn’t possible to provide a personalized customer journey through personalized ad campaigns. Digital marketing allows you to use an individual’s interests and preferences to tailor the ads they receive. This is one of the biggest advantages that digital marketing has over traditional.
If you are looking to incorporate digital marketing strategy into your marketing efforts, the Ogling team can help! Get in touch with us today for a consultation!