Whether you are already in business or just starting out, marketing your product or service can be quite challenging. This is especially true if you have not done it before and you do not know where to start. Of course, with so many options available to you, selecting the best marketing strategy that will help you reach your audience can be quite daunting as well. The good news is that there are many things that digital marketing has going for it that make it one of the most effective ways to promote your business and grow your customer base. Here are 10 compelling reasons why you need digital marketing to help you build a stronger business.
1) Insight into customers and market trends
Understanding customer preferences and market trends are one of the most important elements in any marketing plan. If you know your audience, you’ll be able to cater to their wants and needs. If a better product is available, it’s your job to convince customers to change their buying habits. The better you understand what people want, need, and aspire to have, you can tailor your strategy accordingly. Once you understand who your customer is and how they want to consume information about products and services offered by your company, then it’s time to build a marketing strategy that aligns with those insights.
2) Increase sales
Without digital marketing, you will only be reaching a fraction of your audience. That is why without online marketing, you are almost always losing business to your competitors that are utilizing SEO, email marketing, and social media to stay top-of-mind with their target audience. In fact, Hub Spot research shows that 55% of consumers form an opinion about a company after just one interaction with them (e.g., website visit or purchase). This means that you have only one chance to make a first impression with potential customers—they must come across your brand before they’ll even think about engaging with it. If you don’t make sure they remember who you are when they’re ready to buy, you might as well not exist!
3) Generate leads
The problem with digital marketing is that it can be difficult to pin down exactly what it is. Most people think of social media or paid advertising as digital marketing, but these are just a small part of a much larger picture. To put things into perspective, consider that Google spent more than $40 billion on R&D last year; Amazon generated $5 billion in revenue with AWS alone. The tech giants are all spending massive amounts of money on digital marketing and research because they know that’s where their future growth will come from. This guide will help you understand why you need digital marketing and what you can do to get started with planning for its success.
4) Create awareness
Whether you’re trying to promote a business, non-profit, product or service, digital marketing is one of today’s most effective ways to build and maintain awareness. The only problem is that there are so many different channels and tactics at your disposal that it can be hard to keep track of what works best for your business and who you should target. Without knowing where to focus your efforts, you may end up spreading yourself too thin. The good news? We have 10 reasons why digital marketing matters for businesses like yours… and beyond! Let us show you how. Click here for free resources.
5) Track your goals and results
If you don’t set goals, how will you know if you’re making progress towards success? Track your business, professional, and personal goals by creating a digital goal-management system. Tools like Trello and Asana can help organize projects by their individual components so that each task has its own clearly defined category. Remember: If it’s not in writing (or digitalized), it doesn’t exist.
6) Measure ROI (Return on Investment)
Understanding your return on investment (ROI) is one of the most important things you can do to grow your business. ROI helps you quantify how well your digital marketing efforts are performing and tells you if they’re providing a net gain or loss for your business. Knowing your ROI and being able to track it over time will help you make better decisions about where to invest (and where not to invest) in your marketing budget—and, ultimately, it could lead to higher profits down the road. For example, if there are two different online campaigns that cost $100 each but one nets a 15 percent return on ad spend while another net only 10 percent, which campaign would be more valuable? Which would be worth spending more money on?
7) Gain authority in your industry
Look, you don’t need a fancy degree or to work for a big company. Becoming an authority in your industry has nothing to do with being credentialed or recognized. It has everything to do with your commitment to continuously learn and become smarter than your competition. So, instead of spending time whining about what you don’t have in life—figure out what it is that you want and start doing whatever it takes to get there. All it takes is some resolve and action to gain authority in your industry and build up an audience of people who are interested in what you have to say about your topic of expertise.
8) Understand your customers better
One of your primary goals as a marketer is to understand and meet your customers’ needs. With digital marketing, you have access to a wide range of metrics that can help you accomplish just that. By studying click-through rates, viewing time, and other key data points, you can see how your content is performing and make any adjustments or changes necessary for future campaigns. For example, if you notice a drop-off in engagement after one hour of a video campaign, re-examine what happened with that video so it doesn’t happen again. If it was due to poor video quality or recording issues, make sure they’re resolved before releasing another video.
9) Save time and resources
A good digital marketing campaign can save your company time and resources by boosting awareness, gathering leads, and creating new customers. Even in today’s ultra-competitive market, a solid digital marketing strategy is still one of your most valuable assets. If you feel like you don’t have enough time or resources to handle a full digital campaign on your own, consider hiring an agency to handle things for you. Most agencies will work with you to create a customized package that works within your budget. For example, some agencies may offer smaller packages tailored for start-ups. Regardless of how large or small, your business is, any kind of digital marketing effort can help boost awareness about what you do—and get more people on board with helping you succeed.
10) Stay up-to-date with technology
Technology is becoming more and more innovative every day, making it harder to keep up with what’s trending. But, to be successful as a business person, you need to stay on top of industry trends. There are many ways you can do that—joining social media groups is a great start—but one of the best ways is to read blogs and websites that offer tips on what’s popular in digital marketing. This way, you’ll know how technology can help your business grow before everyone else does. Plus, staying up-to-date will ensure that your marketing approach will always be on point.