T he world is becoming digital. People are accessing digital content increasingly. Most businesses are smart enough to realize this. With the advent of modern technologies and people’s dominance, brands today are meeting digital standards to reach their target audience.
Offline businesses also keep up with the prevailing trend and take their business digital with digital marketing techniques. Be it social media, internet surfing, watching videos, listening to music, etc., digital marketing is omnipresent, and brands are making the most of digital marketing.
In terms of numbers, digital ad spend is expected to reach $389 billion in 2021. Google sees over 3.5 billion search results every day. 75% of those using a search engine will never go further than the first page of search results. 85% of marketers rely on website analytics and SEO tools for campaign tracking, and Google Analytics is the most-used tool.
When it comes to social media marketing, 3.6 billion people access social media across different platforms- Facebook, YouTube, Instagram, Twitter, LinkedIn, Reddit, Snapchat, etc. The number is supposed to reach 4.41 billion by 2025.
In the second quarter of 2020, Facebook reported 9 million active advertisers. Social media advertising saw a rise in the average CTR from 1.2% in 2019 to 1.3% in 2020. Facebook ad spend totaled more than $31 billion in 2020, up 5% from 2019.
Advertising through social media platforms is ranked second in success behind search engine marketing, and over 83% of marketers use social media marketing to promote their products and services.
The numbers speak for themselves the potential digital marketing brings with it.
Here are some other reasons why digital marketing is important for a business.
- Creates brand reputation & credibility
Though it is meant to provide information, the Internet is today also looked to verify the information. Before making the minor purchase, even if offline, customers make sure to compare prices, quality, services, options, etc., online. Having a strong online reputation can only help gain the target audience’s attention, which can help obtain desired conversions. Well-optimized websites, strong social media presence, engaging with the audience, sharing achievements online, client testimonials, running online ad campaigns, etc., all contribute to making a significant brand reputation and credibility.
- Cost-effective than traditional marketing
Marketing is one of the most significant expenses a business has to incur, and therefore, it needs to be cost-effective. Digital marketing helps save money and generates more leads at a lesser cost than traditional advertising. It turns out to be more affordable for small businesses than traditional marketing. It provides flexibility to the business to spend as per their need. For example, PPC advertising allows one to choose the budget that works for the business. Tools like email marketing can bring businesses a great Return on Investment.
- Easy to target customers globally
Digitalization has turned the world into a global village. The reach digital marketing provides unmatched. Digital marketing can help to reach the audience at a worldwide level. It allows your brand to get to any part of the world. This provides small businesses with an excellent opportunity to cater to global interests. Many start-ups like Amazon, Flipkart, Zomato, etc., have made a big name for themselves today in a short period by expanding their reach globally through digital marketing.
- Helps in engaging with the target audience
Digital marketing enables engaging with the target audience. Businesses can engage with the target audience using multiple platforms- website, social media, email, applications, etc. By engaging with their audience, the industry can better understand what the target audience can need. This, in turn, helps in establishing a better customer understanding and connection.
- Allows targeting mobile users in addition to laptop/desktop and tablet ones
Digital marketing today is not only confined to laptops and desktops. Smartphones have paved the way for digital marketing on mobile phones, which is used the most by people these days. Mobile applications are seen as a great platform to run campaigns. Social media marketing has also got a boost due to the rise of people using social media on phones.
- Allows monitoring, analyses & optimization of the campaign for better results
It’s important to keep track of marketing campaigns’ performance to understand whether it has been able to meet the desired results or not. Digital marketing allows one to monitor, analyze and optimize the campaign. This enables the business to measure their return on business accurately and identify areas of improvement and correcting by taking necessary actions such as re-targeting, reviewing goals, reviewing the budget, etc.
Digital Marketing provides a real-time check on how the campaign is performing and allows to make adjustments at the moment. Thus, by keeping a close check on the performance and making necessary changes, one can optimize the campaign and give a business the best results.
Digital marketing is not only convenient, but it is the need of the hour. Digital marketing is essential for a business to grow in terms of reputation and revenue in the long run. With people turning more towards using machines – this is going to rise. Digital marketing is the future of how the business will be done. It has started, and in the coming time, it is going to rise and evolve. The business needs to keep up with the trend and take their business to great heights with the right digital marketing services and methods.
References:
Why Digital Marketing is Important to Grow E-Businesses (digitalvidya.com)
The Importance of Digital Marketing: Top 10 Reasons You Need It (lyfemarketing.com)
The growth of digital marketing in India! – Digiperform
Digital Marketing Statistics to Know in 2021 and Beyond (theloopmarketing.com)
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