Digital marketing amazes everyone. Although it has numerous principles similar to traditional marketing approach, it’s founded on technical know-how. Here is a picture to distinguish the two, traditional marketing and digital marketing; Whereas traditional marketing marks a great avenue to reach a broad consumer base, digital marketing is the right avenue to reach ‘very specific’ audiences. In such a digital world, digital marketing is the most effective. Remarkably, it enhances the digital marketing funnel.
Did you know: With the current century’s internet accessibility, online users increase every 24 hours.
Generally, a lot has changed; adults spend time online, people shop online, and consumption behaviour have greatly changed. As a result, offline marketing is becoming extinct. However, this is a gradual phenomenon. If you were to do a reality check, most people around the globe spend substantial time on the internet. Infact, if you asked someone where they heard about something or a certain topic, the answer would be twitter, facebook, instagram, and websites, to mention but a few.
Hint: With digital marketing, you have to meet people where they spend the most time – On the internet.
Therefore, in the digital marketing sphere, all marketing efforts are glued in the use of electronic devices and the internet at large. For businesses to achieve their campaigns, they tend to leverage existing channels;
- Social media
- Search engines
- Email, and
The above avenues are best known for connecting current customers as well as the much sought prospective customers. But why travel the digital marketing route?
Significance of Digital Marketing
Walking the path of digital marketing aids in reaching a wider audience. More importantly, a business or enterprise manages to target prospects who are more likely to become the actual buyers. Moreso, digital marketing has been considered cost-effective than traditional modes of advertising.
Note: Any form of digital marketing happens to be measurable i.e advert reach, website traffic etc
Now lets have an in-depth scan of four core benefits linked to digital marketing: -
- Cost effectiveness
When relying on digital marketing for all campaigns, tracking progress and effectiveness is guaranteed. As such, any avenue that does yield high ROI can be reviewed thus saving on costs. This is never the case with traditional marketing as a billboard will cost huge amounts of money regardless of the resulting conversion.
The continuous pivoting experienced in digital marketing hints at the kind of control in choosing areas that need additional allocation. Instead of opting for PPC campaigns, a firm can choose to purchase software to enhance promotion reach or spread. With this, digital marketing is said to ensure you receive the most bang for your buck(s). For instance, social media, blogging and SOE strategies are cheap digital marketing avenues but with great results.
- Enables outranking of bigger industry players
It’s only through digital marketing that it’s likely possible to compete with the giants in the industry. Quality digital ads and well-strategized digital marketing tactics eventually outranks the top players in the industry. Small-to-medium sized companies can never go wrong with digital marketing. In fact, it leaves the business in a better position than ever before.
- Digital marketing has specific audience
Digital marketing targets prospects likely to purchase the services or products in question. Placing an advert on TV or newspaper presents a business with limited control of who sees the advertisement. This is a shot in a dark zone.
However, with digital marketing, one is able to pre-determine and identify the audience. Therefore, the communication involved in this case is personalized and deemed to be high-converting.
In this particular case, an excellent example is executing the ‘target features’ offered in various social media platforms. Social media is capable of targeting and showing ads depending on specified variables; Age, interests, location and even internet browsing behaviors. Advertisers and marketers can also embrace SEO strategies to serve ads to the internet users who search keywords related to the industry in question. As such, adequate research can be conducted beforehand.
Want to see ‘beginning-to-end’ comprehensive analytics of your marketing campaign? Digital marketing tools will do that for you.
In short, digital marketing presents you with a review of start to finish metrics; impressions, clicks, conversions and traffic. All these are parameters that matter to the company or business. This is an incomparable benefit of digital marketing. Every marketing department is looking for accurate results but in real time. Thus, there is a surefire way to trace the specific ads responsible for sales.
Here are some examples of measurable parameters in digital marketing;
Digital marketing helps identify the number of visitors in a certain website. Interestingly, it is possible to know the number of time spent by the visitors. Digital analytics software are best known to perform this. With the inbuilt intelligence characterizing the digital marketing tools, it is possible to tell;
- Pages visited
- Devices used
- Location etc
Now, the aforementioned capability aids in prioritizing marketing activities. For instance, if organic search yields only 10% of the traffic, then, more time should be spent on SOE to increase the number. Similarly, it becomes easier to identify change in trends and consumer behaviours. Ultimately, informed decisions are accomplished.
Imagine a brochure posted on letterboxes – How many people will see it, or even pay attention to the information provided. Well, we all know that the majority will treat it as trash.
Now imagine some appealing brochure placed on a well-designed website. Fantastic. Right?
This is the power of digital marketing. It’s not easy to do away with something attractive online. Chances are, after reading the brochure., one would want to know more and thus click the product. In a few seconds, the same person will be adding to the cart. This kind of online engagement generates more leads for the intended business – Qualified leads precisely.
In order to get a clear glimpse of attribution modeling, think of the starting point of any online or digital purchase. Whatever that activity was, in digital marketing perspective, is referred to as digital touchpoint.
Digital marketing offers the tools to trace a customer’s first digital activity that leads to a sale. This is attribution modeling. It allows for gauging and tracking the manner in which consumers keep evolving. It is overly critical to monitor customer behaviour; Online searches, product search and even buying patterns.
Information gathered from attribution modeling helps identify the areas that need more attention. Furthermore, specific areas in the sales cycle can be refined accordingly. It is likely that the sales will improve if digital technologies are utilized optimally. Gradually, the business bottom line is impacted positively.
The current digital age requires digital know-how in matters of marketing. There is no time the world is going to slide back to full time use of offline marketing. Marketing undertakings are now online and happen electronically. Digital marketing remains essential for brand awareness. The masses are using all kinds of gadgets. Thus, businesses need to acquire websites, apps and ensure social media presence. In short, desired competitiveness in a business can only be realized by incorporating numerous digital marketing aspects. This is because digital marketing is the future of marketing and business prosperity. Nothing less!
Go ahead now, explore Types of Digital Marketing