Digital technology has significantly changed the climate for how businesses operate today, not only for larger enterprises but also for smaller companies. Using digital marketing methods to create brand awareness, drive customers/leads all with a seamless digital journey is a powerful way to strengthen your business.
To reinforce just how much digital marketing impacts people’s lifestyle, check out these staggering statistics:
• In 2019, approximately 3.5 billion people used a social media platform
• Search Engines such as Google, Bing, and Yahoo drive 93% of all website traffic
• 82% of people use their phones to research a product or service before a purchase
• 50% of consumers favor a particular brand if their name appears more than once during their search
These statistics showcase the ever-increasing impact of digital marketing. But what exactly is digital marketing? Digital marketing refers to the method of utilizing digital technologies such as mobile phones, computers, social media, and other digital platforms to promote products and services. Some methods include:
• Affiliate Marketing
• Content Marketing
• Email Marketing
• Inbound Marketing
• Pay-Per-Click (PPC)
• Search Engine Marketing (SEM)
• Search Engine Optimization (SEO)
• Social Media Marketing
• User Experience (UX)
Each method is measurable, allowing businesses to evaluate their company’s performance and develop further brand awareness to make the most informed business decisions. Depending on which type of business you run—B2C or B2B—you will need to differentiate your digital marketing strategies to fit your business’s purpose.
In what ways does digital marketing impact the way businesses operate? There are many ways, but the below sum them up:
1. Customer Communication – Digital platforms, such as Facebook, Instagram, and LinkedIn, have enabled instant communication between brands and audiences. This form of communication helps you to connect to local, national, and global audiences.
2. Content Distribution – Brands are able to share a variety of content, including blogs, emails, social media posts, newsletters, videos, etc. Spreading messages is much more accessible through digital means.
3. Customer Information – With tools such as Google Analytics, companies can track data of their customers. This data allows your business to learn more about your audiences’ habits, likes, and preferences. With that information, you can make more sound business decisions.
4. Brand Transparency – Customers want to know who the brands are that they’re supporting and considering. They want to know what the brand’s values are and how they’ve helped other people. Brand transparency happens by clearly sharing your business’s unique story and personality. Being upfront with your customers about who your company is and why you care about will organically build brand loyalty.
5. Encourage Innovation – With increased competition in all markets, having an innovative approach helps your brand stand out. Digital marketing offers that opportunity to reach customers uniquely and innovatively.
Now that we’ve established what digital marketing is, why it’s essential, and how it impacts businesses, let’s explore the top reasons you need it.
Reason #1 – It’s Cost-Effective
Digital marketing is cost-effective. It does not require large investment dollars to see results. Small businesses can find digital channels that work for them and do not require large amounts of spending. You can also measure your digital campaigns’ ROI, which will help you to re-work strategies as needed and put your resources toward the right projects.
Reason #2 – It Increases Revenue
Successful digital marketing provides more conversions. And because it results in higher conversion rates, revenue also increases. Did you know that companies who use social media generate 78% more business than companies who do not utilize it? Digital marketing builds consumer trust, which aids in long-term revenue.
Reason #3 – It Targets the Right Audience
Digital marketing is the highest form of personalized marketing. Tools like Google Analytics and Google Search Console help you understand your audience, such as what is most important to them, what they’re looking for, and what kind of solutions they seek. You are able to zero in on the exact audiences that fit your business’s mission and values.
Reason #4 – It Increases Brand Reputation
One key goal of a business is to attract more customers. As you build your online presence, more people will gradually recognize your brand and what you offer. The more you interact with people, the more authentic engagement you create, which leads to trust, the ultimate goal of obtaining loyal customers.
While traditional media is still a viable marketing source, digital marketing has the edge to attract a larger audience with a more cost-effective approach. Utilizing the potential digital marketing offers to get ahead is a holistic way to take your business to the next level.
TOTAL Advertising is the leading agency for web design, development, and digital media. We help small businesses increase sales, visibility, and engagement through their unique marriage of skills and experience with comprehensive creative solutions. So, what are you waiting for? Start your digital marketing journey today!