If you’re a business owner then you will be familiar with the difference between surviving and thriving, and what that means to your business. If your business is surviving, it’s doing ok. It’s breaking even. You’re relieved.
Whereas if your business is thriving, it’s growing, revenue is increasing, you’re not only happy but your excited, employees are happy. It feels good to be in charge. The question is though, what can help a business thrive? Step forward digital marketing. In today’s day and age Digital marketing is absolutely essential for businesses in order to grow. Let’s break down exactly how it helps.
Digital Marketing is great for small businesses with limited budgets as it’s an easy way to build brand reputation. With digital marketing, you are completely in control of your image, which helps when it comes to business growth. People want to frequent with businesses they can trust. Digital marketing can help reputation management in a massive way. Reputations matter and are permanent, and these days, your online reputation matters the most. To some extent, you are in control of what appears on the internet regarding your business. If you want to rebrand towards different demographics, it's easy to start a new advertising campaign and rebrand yourself. If you want to change the message you're sending out to improve your image there are a variety of digital marketing forms that will get the message across that you want people to hear.
The internet levelled the playing field when it came around. Gone are the days when only big companies with large budgets. Digital marketing has flipped that on its head, now small and medium businesses go head to head with the bigger more established brands. To broaden a small businesses audience digital marketing allows them to choose and target the right audience. Not having physical stores is no longer a hindrance as you can now reach customers located in any part of the world.
Digital marketing gives small businesses an opportunity to quickly catch up with their big-name counterparts, making it easier for them to compete in a big marketplace.
A business’ goal is simple; conversion. You want your website visitors to move down the sales funnel, download the lead magnet, join your email list, and become your latest happy customer. Digital marketing makes tracking your conversions very easy.
With so many tools on the internet, tracking the effectiveness of a digital marketing campaign presents a lot fewer problems than the tracking of a traditional marketing campaign. And with the ability to easily run split tests, you can use this tracking to optimise your campaigns.
Digital marketing doesn’t require a large number of staff, making it cost-effective while saving time. Spreading the news about your company no longer takes paying for a big newspaper or television advert, all you need to market your business now is a laptop and a little know-how.
Cost per lead(CPL) is a metric that measures how effective your marketing campaign has been. The lower the cost per lead (CPL) the better. When it comes to lead costs, email marketing and social media marketing tie as the lowest. Meaning no matter how small your marketing budget is you will still be able to implement some sort of digital marketing strategy. Digital Marketing is the closest you can get to free when it comes to advertising, write an SEO optimised blog post, create social media accounts and pages for your brand, the data shows more traffic at a lower cost. You just have to take advantage of it!
When it comes to businesses marketing products and services online, they measure success by Conversion Rate, this is a percentage rate of incoming traffic that then converts. A conversion is a general term for anyone who comes on to your site and then completes a desired action, i.e fills in a form, becomes a customer, etc. Without conversion, your website traffic would mean very little and your marketing efforts would be a waste. which is why business owners are optimising for this. tools and techniques such as search engine optimisation, email marketing, and social media marketing, can be used to help deliver better-than-average results in terms of higher conversion rates.
The rapid rise of internet-enabled devices such as smartphones and tablets means that mobile internet has become the communication channel. Mobile gadgets have now evolved from being just alternatives for laptops and personal computers into something that influences the users purchasing decisions. Meaning now would be the best time to have a digital marketing campaign intended for mobile consumers.
Internet Marketing tools have made it easy for businesses to interact with targeted audiences in real-time. This kind of engagement is now what customers expect when interacting with your business. And how your business deals with this interaction can be the difference between success and failure. Insights can be gained into what your targeted audience wants, helping you make decisions on your next steps. You can gain their loyalty and trust by providing an even better experience and developing good relationships with them.
Digital marketing is huge, and it’s not going away anytime soon, no, in fact soon digital marketing is expected to outperform traditional marketing activities. People simply prefer online content. And with people spending most of their time online. In order to grow and keep growing every business needs to meet the customers where they are. Online. From SEO to Social Media to shareable content, digital marketing is extremely important. Quite simply your business is not going to grow without it.