1. Digital Marketing Levels the Online Playing Field
Gone are the days when business owners still welcome the notion that Digital Marketing is only for the likes of multinationals and large corporations that have the sufficient resources required to mount an online marketing campaign. Digital Marketing levels the playing field, providing small and medium enterprises with the chance to compete against the big boys and attract their share of targeted traffic.
With digital marketing, small companies now have the resources to perform sales and marketing processes that were previously available only to large corporations. Without a call centre, small businesses can engage effectively with multiple customers, even to customers from any parts of the world, also if they don’t have physical stores or branches in these locations.
2. Digital Marketing Is More Cost-Effective than Traditional Marketing
Small businesses have minimal resources and even capitalization. This is why Digital Marketing provides them with a better and much more cost-effective marketing channel that delivers results. Gartner’s Digital Marketing Spend Report highlighted that up to 40% of respondents claimed getting considerable savings by using digital marketing methods of promotion for their products and services.
That is why, according to the Gartner survey, 28% of business owners surveyed will shift marketing budget allocations from traditional media channels and invest them in digital online marketing tools and techniques. HubSpot confirms this, as shown in the chart below that confirms how digital marketers get better Cost-Per-Lead (CPL) compared to other marketing channels.
3. Digital Marketing Delivers Conversion
Businesses marketing products and services online measure success by the percentage rate of incoming traffic gets converted into leads, subscribers or sales, depending on the intended purposes of your website. Without conversion, all your traffic would mean nothing and all your marketing efforts will go to waste. That is why business owners are streamlining their digital marketing campaigns towards conversion optimization, making it a top priority above everything else.
There are several tools and techniques that you can use for your digital marketing campaigns such as Search Engine Optimization, social media marketing and email marketing. As seen from the chart below from HubSpot’s 2013 State of Inbound Marketing Report, these three that generate quick and effective communication and interaction with targeted audiences will deliver better-than-average results in terms of higher conversion rates.
4. Digital Marketing Helps Generate Better Revenues
Higher conversion rates generated by effective digital marketing techniques will deliver loads of valuable benefits for you and your business in terms of better and higher revenues. Google confirms this in a study with IPSOS Hong Kong, claiming 2.8 times better revenue growth expectancy for companies using digital marketing strategies to those who do not.
With better revenue growth expectancy, small and medium enterprises using digital marketing techniques will have 3.3 times better chances of expanding their workforce and business – opening their doors to better, larger and farther reaching markets both locally and abroad. Google’s Asia-Pacific Head of SME Kevin O’Kane describes the Internet as rocket fuel for growth for small and medium enterprises.
5. Digital Marketing Facilitates Interaction with Targeted Audiences
One of the reasons why digital marketing is taking over traditional marketing channels is the ability of Internet marketing tools to interact with targeted audiences in real-time. Engagement, in any form, is what your customers expect to receive when interacting with your brand or business. How your business handles such engagements and interactions will spell the difference between business success and failure – eMarketer’s report Key Digital Trends for 2014 is saying, as shown below.
Interacting and providing your customers with proper engagement points can give you an insight into what your targeted audiences want. This vital information will steer you towards making the right set of next moves, provide your customers with an even better experience, develop good relationships with them – gaining their loyalty and trust that you will need when your business begins to grow.
6. Digital Marketing Caters to the Mobile Consumer
Undoubtedly, mobile Internet will be the next wave of information dissemination and communication channel, brought about by the rapid proliferation of smartphones, tablets and other internet-enabled devices. These mobile devices have become a central part of American life that 91% of adults in the United States always have their devices within reaching distance.
Now would be the best time to have digital marketing campaigns intended towards mobile consumers, paving the way for them towards achieving better growth and faster expansion. Mobile gadgets have evolved from being mere alternatives for laptops and personal computers, into something that is influencing their purchasing decisions as confirmed by another report from eMarketer.
7. Digital Marketing Builds Brand Reputation
The power of digital marketing lies in its ability for attracting targeted traffic. These types of audiences for your content are most likely already ready to know more about your brand, products or services and may be interested enough to purchase what you have to offer. Delivering on what you promised will help you develop a better relationship with your targeted audiences, help them transition into paying customers that will go back and interact with your site some more – on a regular and continuous basis.
This will prove beneficial for your brand reputation, as satisfied customers will most likely tell other people about their experience with your brand, product or service. Your brand reputation will go viral as expected, further opening new doors of opportunities for reaching more significant markets and attain business growth.
8. Digital Marketing Provides better ROI for Your Marketing Investments
With better revenues and better branding, Digital Marketing can provide a better Return of Investments (ROI) than traditional media and marketing channels. With conventional media, the cost is too expensive for small and medium enterprises to leverage on, and the results received are somewhat vague and confusing to measure.
Digital Marketing, on the other hand, can easily be tracked and monitored, with results immediately realized and measured as soon as targeted audiences provide contact information, subscribe to a newsletter or training program, or make a purchase. The key to success in Digital marketing, however, is to generate a steady flow of targeted traffic that converts into sales and leads. The more your business generates this kind of traffic, the faster you can realize your ROI.
9. Digital Marketing Earns People’s Trust
Digital Marketing rides on the current online trend that focuses more on social media signals resulting from direct and more personalized interaction between a brand or business and their targeted audiences. In the Nielsen Global Online Consumer Survey that involved 25 thousand consumers coming from at least 50 countries, 90 per cent of respondents claimed they would trust information about a particular brand, product or service if the data comes from people they know.
Digital Marketing leverages on social media signals, social proof and testimonials from actual consumers who have previously purchased, joined or availed of a product or service marketed by a particular brand or business. The more reliable these social signals are, the higher the trust rate it can generate from targeted audiences – most of which can be potential customers.
10. Digital Marketing Entices People to Take Favorable Action
While social signals and testimonials help earn trust from targeted audiences, Digital Marketing makes use of effective strategies that will entice people to take favourable action, your brand or business intends them to take. Conversion to leads or sales is still initiated and under full control by the website visitor. They are not compelled to do so, but digital marketers can make use of smart and innovative ways to entice conversion using Calls-To-Action.
Calls-To-Action specifies what your web visitors should do next – either to sign up, download content, get in touch or to buy – specific steps that will entice them to perform a favourable action. Innovative forms, buttons and texts are optimized according to copy, colour scheme, graphics, and even positioning on the page to generate the best results in terms of generating favourable action.
11. Digital Marketing Makes You Ready for the Internet of Things
The “Internet of Things” is a global ecosystem of interconnected devices – tablets, smartphones, gadgets, appliances and more – that can interact with each other through the Internet. Sounds like something from a Sci-Fi thriller, but this is what the projected 24 billion gadgets by the year 2020. Digital Marketing will prepare your business towards this eventuality, an interconnected ecosystem that will permeate through every aspect of people’s lives. Survival for your business in the era of the “Internet of Things” means inclusion in this interconnected grid – giving you an access window to reach out to targeted audiences belonging to this online grid.
12. Digital Marketing Ensures Business Survival Online
It is a regular occurrence for brick-and-mortar business establishments to encounter visitors entering their store, skimming through and inspecting products, then leave without buying anything. Many kinds of people like these come and go, but a targeted few will actually make a purchase and if satisfied, will come back for more on a later date. If you get less of the following and more of the few, sooner or later your brick-and-mortar business will cease to exist.
Your business can be likened to this. Even if you have tons of website visitors, but none of them ever convert, your business will also cease to exist. Digital Marketing helps you make use of proven strategies and techniques that attract not necessarily more traffic – but highly targeted traffic that delivers results. Targeting the right kind of people that provides the right kind of results is what Digital Marketing is all about – ensuring survival for your business.