Importance of Digital Marketing Today: 5 Reasons you Need It
“PPC” , “Retargeting”, “SEO” , “Adwords”
These might seem fancy terms coming out of a science fiction movie script.
But believe it or not, today is the best time you can know about the power and impact of the above terms along with various tools, strategies and platforms while you obtain the answer for the question –
Why do I need Digital Marketing? or as we think
Why do I spend even a single buck for it ?
Let’s find out.
- The current trend of audience
- Value of Money in Marketing Online
- Targeting people
- Why E-Mail Marketing
- Using Segmentation for better conversion
- Digital Marketing = Higher Sales
- How analytics help improve returns
- Cons of Conventional Marketing
- Value analytics provide
1. Everyone is Online
A study from statista shows that almost 68.7 Crore internet users are currently present in India which is about 50% of our population. Let me give an example –
One in every two person that is currently a customer is also checking out your competition similar to you, due to a simple reason- your competition is online; Marketing; Putting itself in the front of customer.
Brands across the world are in a race to acquire customers because the more options a person has, the higher the chance is that a business can lose the customer to competitors.
Enter Digital Marketing
Brands are not using different tools to capture customer on every platform from Google to Instagram but are also focusing on their engagements with their customers through constant
Not only this but memes, viral videos, adverts, search engine marketing and what not. But,
Social Media Influencing has seen a huge growth, mainly due to a fact
People trust a person which they follow and mostly are fond of the platform that the person is on.
Read that again.
So they use a influencer with a high engaging audience to promote their product/service. This strategy can no longer be called an advertisement it is more like a paid Word of Mouth, which we all know is better than display, cold, video advertisements.
That doesn’t mean conventional ads don’t work; People are not only targeted on Social Media but on every site a person goes, they will see an ad related to their interest. This constant presence of ad in front of your eyes builds trust and confidence in the person and pushes them to buy the product.
In these times of lockdown, people are online 3/5 times of their day and companies are going digital at a crazy rate, using this opportunity to acquire customers.
2. Value for Money
Businesses spend from 1000 to 100k and more a month just on marketing through different platforms.
One thought that many businesses have is
“My business is small and have no use of online marketing”.
Well, in a fast changing world where everyone is going through digital transformation, it has become a necessity to create presence online. If you are still confused go through this guide for small businesses, which narrates how you can start your online journey without spending huge chunks of cash.
As simple as creating a website can start your journey towards more customers and sales.
- Online Brand Presence: Even if you have an Instagram account with 100 followers, a facebook group with 50 people, these 150 people can be converted to paying customers in future, if you constantly provide striking content.
- Increase in Trust for brand: Remember that people nowadays trust a Wikipedia article more than the news on TV, there’s a reason for that, mainly because credibility is increased when a business provides insights or information and hence the trust keeps on growing as they keep engaging.
- Opportunity to go viral: You post an ad, a meme or something that the users find creative and simply hilarious or great, there is a high chance you can gain a lot of audience in a short amount of time For Ex- check the @habitwave ,this type of content has opportunity to go viral because it is unique, relatable, creative, content and believe it or not this was created by some college students not a big firm.
3.Hyper - Target and Segmentation
One of the most powerful tool that adds to the importance of digital marketing is E-Mail Marketing.
It is free, convinient and face it everyone has an E-mail. With proper
Using E-Mail Marketing you can constantly interact with your customers by giving the updates about products, discounts, sales ; Also it helps in retaining the customer.
According to Mailchimp the average click rate of mails sent by you is 21.33% that’s free marketing for almost every 1 person in 5 – forever , and 2% of them actually convert and click on your CTA, be it a product, article or anything that was your aim while sending out the mail.
Getting the access to the E-mail of a customer is a like a gold-mine, you can send them personalized ads, loyalty discounts, custom ads according to their likings. These techniques comes under customer Targeting.
Using Segmentation you can fine tune the targeting by segmenting your customers in different categories using different parameters like type of product, area, age because you don’t wanna show an ad about “latest PS4 game released in USA” to the senior citizens of Canada.
4. Higher Sales
Sales is THE factor which is a proof towards the importance of digital marketing.
Eventually every business wants more sales and customers, and when you target the right audience through right channels, they go from audience -> customers faster. Let me give you an example
” A Gaming Company targets their audience while keeping this in mind”
- The age of the people whom they show ads is between 12-24.
- They promote more on social media platforms as that is where most young people are.
- Influencers in Gaming Industry are given free copies to review, who then give their opinions to their audience.
As a very specific group is targeted, they turn into paying customers without higher investment thus increasing sales.
Which Product has the most potential to sell?
How are people reaching your site and which region they come from?
What pages they are going through?
These are just some questions that can be answered using analytics; Unlike conventional marketing of banner boards and flyers which have no means to measure metrics like customer tendencies, age group, demographics, likings.
Also you can find the product that the people are loving, put work on that, improve it,upgrade it. Ex –
Google’s social Media platform (Google+)- failed;
Microsoft’s Smartphone OS (Windows for phone)- failed
Facebook Home (tried to be the phone screen for your phone)- failed.
These companies still are leaders in what they do because they know how customer’s are reacting with what they present and hence they can invest time and money in the products which are showing potential and response while fixing or innovating the products which haven’t grabbed attention.
We can see that analytics can provide a great deal of information about customer behavior and how high the chance is for them to become a paying customer. Not only this it also shows what type of people you should target or discover new audience groups who may be interested in your product.
Would you grow your business in this online revolution?