Businesses are trying to keep up with the times by leveraging modern technologies and digital marketing (DM) in abundance.
Companies are changing their marketing plans to digital, or amplifying their existing strategies using digital advertising techniques. The first question you might ask is: Why is Digital Marketing important for your business? What is the role of Digital Marketing?
Let me break it down for you. Let us begin with some statistics about Digital Marketing-
Why Digital Marketing Is Important?
- 34% of these businesses had an integrated digital marketing strategy in place by 2016
- 72% of marketers believe traditional marketing is not sufficient. They believe digital marketing will increase their company’s revenue by 30% by 2017.
- More than 80% will increase their digital marketing budgets, which may extend beyond the IT budget.
Why digital marketing is so important for your business
- To be a part of the highly pervasive and lucrative online market, you need to include a suitable Digital Marketing Strategy into your business module.
- DM is a rapidly developing force in the world of marketing today. It is expected to become the future of marketing. Digital Marketing has the potential to surpass traditional marketing techniques.
Digital marketing vs traditional marketing
- All of us are well aware that the world is rapidly moving away from traditional ways of working and towards digital ones. The role of digital marketing is well-known and people prefer to consume digital content. Businesses that do not have DM in their advertising systems should get it immediately.
Digital marketing and communication are flexible, faster, more quantifiable, and more result-driven. Both customers and marketers can reap the benefits of digital marketing. Let’s look at the reasons digital marketing is so important for your company.
10 Reasons Why Digital Marketing Is Important
1. Digital Marketing is Important- All Businesses Have Equal Opportunities
DM equalizes the online playing field, and provides equal opportunities for all types of businesses. Digital Marketing is not the same as it was in the past, when large corporations and multinationals embraced digital marketing. DM is a way to even the playing field, giving small and medium businesses an opportunity to compete with established businesses and draw their share of traffic.
- Startups and small businesses of medium size now have the resources to sell and market that was previously available to large companies.
- When considering the importance of Digital Media Marketing the most notable benefit is the ability to interact with multiple customers without the use of call centres.
- Conversions with DM are higher than any other mode of marketing or communications.
2. Digital marketing is more cost-effective than traditional marketing.
Digital marketing is a great channel for small businesses that have no capital or assets. According to Gartner’s Digital Marketing Spend Report.
Respondents claimed that they have seen significant savings using digital marketing to promote their products and services.
- According to the report, 28% of companies studied plan to shift advertising budget allocations away from traditional marketing channels and place them in digital marketing channels.
- HubSpot confirms this, as shown in the graph below that shows how digital marketers can get better Cost Per Lead (CPL) than other marketing channels.
Digital marketing is cost-effective
3. Digital Marketing: It’s Important – Delivers Conversion
Companies measure success by how much of their traffic is converted into leads, supporters or subscribers, deals, or sales. All your efforts will be wasted if there is no conversion. Entrepreneurs are focusing their digital advertising efforts on Conversion Rate Optimization. It is their number one priority.
- You can optimize conversion with a few CRO procedures and tools that you have at your disposal.
- Get the top 25 CRO tools to maximize conversion of your business.
- There are many digital marketing activities, such as Search Engine Optimization, Social Media Optimization, and email marketing. This will also help you.
- The HubSpot State of Inbound Marketing Report shows that SEO, SMO, and Email Marketing are effective in establishing fast and efficient communications with target audiences, and ensuring higher conversion rates.
Digital marketing delivers conversion
4. Digital Marketing Importance- Helps you Generate Better Revenues
DM not only improves conversion rates, but also increases revenues. You and your business will reap the benefits of DM, which can lead to higher and more profitable incomes.
Google confirms this in a joint analysis with IPSOS Hong Kong. They claim that digital marketing can increase revenue by 2.8 times more than individuals who do not.
- Small and medium-sized businesses that use digital advertising strategies to generate more revenue will have 3.3 times greater chances of optimizing their businesses.
- Digital Marketing has many benefits. It opens up new markets that are larger, more diverse and easier to target locally as well as internationally.
- Kevin O’Kane, Google’s Asia-Pacific Head for SME Kevin O’Kane describes the Digital Market to be rocket fuel for the growth of small and medium-scale ventures.
5. Why digital marketing is important for businesses – Facilitates interaction with targeted audiences
Internet marketing has taken control of traditional marketing channels because of its ability to work with target audiences and deliver results-driven interactions. Digital Marketing’s role is to make sure that clients get the engagements they want while working with your company.
- The difference between business success and failure will depend on how you handle such engagements.
- You can help your clients by providing legitimate engagement. This will give you insight into what your prospects want.
- These vital data will guide you in making the right arrangements for your next steps, giving your clients superior experiences, and building great relationships with them.
- This will allow you to build trust with your audience when your business grows.
Mobile marketing, which is the fastest growing form of data dissemination, is without a doubt today’s most important communication channel. Mobile phones are now so integral to our lives that more than 85 percent of Indian adults have them within reach.
Mobile users are increasing
- It is a good time to plan digital advertising campaigns for mobile buyers. This will prepare them for faster development and a quicker extension.
- According to eMarketer, mobile devices are now influencing customers’ purchasing decisions.
7. Why digital marketing is important – builds brand reputation
Digital marketing is crucial for attracting the right audiences. They are more likely to learn about your brand and may be interested enough to purchase what you have to offer. You can build a strong relationship with them by offering what you guarantee. This will eventually lead to paying clients who will continue to interface with your site in a more sustainable manner.
- Digital Marketing serves two purposes: it can increase brand awareness and help clients feel fulfilled.
- Your online reputation will be a sensation. This will also open up new opportunities for market reach and business development.
8. Why is digital marketing important? It helps you win the trust of people
Digital Marketing places more importance on social networking signals via the internet because they allow for more personalized and immediate collaboration between businesses and customers.
Nielsen Global Online Consumer Survey included 25000 purchasers from 50 countries-
“90% of respondents said they trust information about a brand, product, or service from people they know.”
- Influences of digital marketing via social media signals and reviews, as well as testimonials and recommendations from customers who have made a purchase and profited.
- These social signs will be more trustworthy and can generate more trust from prospects. This will increase the likelihood of potential clients being converted.
9. How important is Digital Marketing? Influences prospects to Take Favorable Action via CTA
Digital marketing uses successful strategies that encourage people to make the positive decisions you want. You can use Calls to Action (CTAs) to tell your visitors what to do next. You can create innovative Calls to Action to increase conversions.
- Calls-to Action let visitors know what they can do on your site. They can sign up and download, subscribe, or buy.
- DM allows you to choose and make certain moves that will attract prospects.
- The graphics, colors, and text used to optimize forms, buttons, messages, etc., are used as a guideline. To achieve the best results, optimize your website.
10. Why digital marketing is so important – Let’s prepare for the IoT
Digital marketing – Internet of Things
IoT, or Internet of Things, can be described as a biological system of interconnected devices. This includes tablets, smart phones and cell phones, computers, appliances, PCs, etc. These devices can communicate using the Internet. Digital Marketing will help you position your business to become part of such an interconnected environment that permeates every aspect of people’s lives.
- Your business’ survival will depend on your ability to adapt to this interconnected matrix.
- Digital marketing allows you to be able to adapt for IoT, which ensures your online business’ survival and lets you reap the long-term rewards.
After we’ve covered the many reasons digital marketing is so important for your company, let us now take a quick look at some key elements of Digital Marketing to help you optimize your online presence.
Essential Digital Marketing Elements to Optimize Your Business
Digital marketing elements
- Websites and SEO Content
- Internet banner ads
- Online video content
- Advertising via Pay-per-Click (PPC).
- Email marketing
- Social media marketing (Facebook Twitter LinkedIn)
- Mobile marketing (SMS, MMS, etc.)
New digital marketing techniques, such as augmented reality and artificial intelligence, are constantly being developed. We will be looking at some recent digital marketing trends in order to better understand the importance and value of digital marketing.
Digital Marketing Trends to Increase ROI for E-Businesses
- Influencer Marketing
- Content Marketing
- App Store Optimization
- Big Data Personalization
- Marketing in-store
- Social Media Marketing
- Live Video Streaming
- Site Optimization according to the Wearable Technology
- Consumer Engagement Strategy
B2B as well as B2C companies can use digital marketing mediums in a variety of ways. The only thing they should pay attention to is the latest digital marketing trends for their business.
- B2B and B2C companies have adopted digital marketing practices such as SEO in digital marketing, paid advertising, Search Engine Marketing (SEM), Content Marketing (SEM), Content Marketing (SEM), and Content Marketing.
- One of the main benefits of advertising digitally is its simplicity and ability to track results in DM.
- DM allows you to see client reactions and measure your marketing goals. This is a better alternative than conducting expensive customer research.
Digital Marketing is an evolving system that requires businesses to adapt to rapidly changing processes. In 2017, a few of the digital marketing trends will have an impact on lead generation, conversions, and ROI.
Your business will grow if you are able to understand and incorporate the best digital marketing practices and related trends.