Digital Marketing can Make or Break your Business
Nowadays, a lot is being discussed about digital marketing. As we all know that digital marketing is advertising and promotion of business and its brands via media or digital platforms. Thus, all the audio-visual media including television, radio, mobile, websites and social media platforms come under the purview of digital media.
Recently, there has been more stress on social media marketing as it has proved to be quite useful and has no doubt fetched higher return on investment compared to direct advertising.
To put in simple words, marketing done through electronic mode is known as digital marketing. However, person-to-person (P2P), direct advertising and print marketing are not considered as digital marketing. The million-dollar question here is that why DM has achieved so much importance in the past many years specially in developing countries such as India.
Why focus on digital marketing?
The switch to digital media is because of the fact that it is easy to be reached by every business owner and it is lot easier to track the advancement and outcomes of an advertising campaign at each phase. Another reason is that most forms of digital marketing are very low cost. These forms of digital marketing are available to organization of any size, making it helpful for any owner of a new business.
How crucial is digital marketing?
• Greater opportunity
Digital marketing offers an opportunity to a company or an organization to find greater levels of recognition and targets. Unlike traditional marketing, digital marketing is not confined to a particular place or region. Contrary to conventional form of marketing, online marketing provides organizations a wider range for the expansion of their market or customer base. In today’s time, online marketing has got so much importance since everyone is easily connected to the world of internet. For this reason, it becomes easier for the companies to increase the knowledge and understanding about their brands and products to the people. Hence, they get more opportunities to grow financially as well as in popularity.
• Conversion rate
The conversion rate is more than the traditional form of marketing. For example, if a person wants to buy a pair of shoes then on a website, he types shoes in the search engine and the search engine shows the exact or related results but on the other hand if a person is in the market and someone gives him the booklet of bags to search for shoes then that becomes unusable for him as he was looking for shoes and not bags. Therefore, digital marketing increases the chances of sales as conversion rate increases.
• Cost effectiveness
Digital marketing is known to be one of the most cost-effective ways to boost the business and generate new customers. Moreover, marketing online is cost friendly as this can be done by a trained and experienced digital marketer with the help of SEO. Internet marketing includes the cost of digital marketer unlike the conventional way of marketing which has printing cost, distribution cost, etc. that make it expensive.
• Easy to communicate
Digital marketing makes it easy for the organizations to reach out to potential buyers. In this way, organizations can increase the rate of conversion as they can directly speak to the customers and thereby solve doubts of customers which they have in their minds. When customers have a clear understanding about the products and its benefits, they show more interest in buying the product.
• Higher earnings
Digital marketing generates more sales and revenues for an organization. In today’s time, people are more inclined towards buying things online rather than going out to the market for everything. Companies are thereby getting more chances to sell their products to the customers. As discussed earlier, promotion of products through this platform is way cheaper than that of traditional methods of marketing that makes it a good way to get higher earnings.
If we sum up, digital marketing is important because your company or business can attract new and vast number of customers and make a long-term relationship through electronic channels. A good marketing services provider makes sure that there should be a dedicated social media, web content, SEO etc. to help your company target particular demographics, regions and trends.
The fact cannot be denied that we live in a digital era where everything we do is mostly related to computers or phones. This fact makes it quite clear that if one promotes and markets products and services to the target audience using digital tools or means, there is a higher and healthy chance of getting a great response and converting them into your faithful customers.
A good digital marketing is not only about generating leads but you should know how to convert prospects into loyal customers. With an appropriate strategy of digital marketing, you can expand your clientele substantially.