We live in the era of digital dependence and hyper convenience. Businesses want customer acquisition and greater loyalty. And the digital platform is wholeheartedly embraced by marketers to reach tech-savvy customers who actively engage in the online world.
As per analyst firm, Smart Insights, Google Shopping ads account for 76 per cent of retail search ad spend, and 85.3 per cent of all clicks.
Digital marketing, today, can be likened to a catalyst that expedites brand awareness, sales, and credibility. Offering a plethora of benefits, digital marketing offers businesses a great opportunity to reach out to a much wider audience, whilst being able to actively target specific customer types through detailed segmentation.
Let’s explore some of the main benefits that digital marketing presents to businesses.
As opposed to other forms of advertising such as print media, which incur exorbitant costs, digital marketing is less expensive, more impactful, and can reach a much wider audience. Moreover, digital marketing helps you reach international markets, expand your business and gain new customers.
For instance, Betway Sports, an online sports betting company, is a great example of how digital marketing is used to reach new customers. By leveraging digital platforms, Betway Sports is rallying scores of sports fans internationally, providing insights, interviews with leading sports stars, and a huge range of betting options for sports enthusiasts, including in-play betting.
With rich technical functionalities and analytical tools, digital marketing helps businesses measure outcomes. Digital marketing is highly measurable and tools like Google Analytics and Facebook Insights provide marketers with a depth of data that was previously not available through other marketing channels. Increased measurability allows marketers to assign a return on investment (ROI) value to every aspect of their work, helping them to refine their marketing activities and focus on those that deliver the best ROI.
Moreover, businesses can have complete control over budgets, and ad spending and are capable of making frequent changes to drive sales. Besides, businesses can identify top-performing digital channels and do away with low-performing ones. Digital marketing tools help you better understand, observe, and monitor the impact closely.
Furthermore, hyper-personalisation can be achieved through digital marketing where customers can be reached in a personalised, relevant manner that is more likely to yield results. Whether it’s an email campaign, website copy, or digital advertising, every digital vehicle can be customised to target specific audiences in keeping with their likes and preferences.
The brand, L’Oreal uses micro-influencers and user-generated content to help break down geographical barriers for products and this opens up markets in a personal way.
Extraordinary Brand Awareness
One of the fundamental benefits of digital marketing includes brand awareness and a perfect example of a brand that achieved great recognition online and globally would be Airbnb. The business secured a formidable spot in the online world and the service is being used by customers across the world. In the absence of digital marketing, prospective customers cannot be reached and brand awareness is substantially reduced.
Social Media Magic
Social media marketing, part of any successful digital marketing strategy, has a plethora of benefits for businesses, particularly services rendered to consumers. Leading cosmetics brand Sephora’s digital marketing efforts have been greatly successful. By creating an AP app, Virtual Artist, customers can try products and makeup looks.
Businesses of all sizes are spoilt for choice with a host of platforms to choose from. Whether you’re looking for robust eCommerce platforms such as Shopify or template-based web platforms for easy-to-rollout websites, the digital world has plenty of solutions.
Access to Information
Digital marketing provides customers with quick and detailed information that can help consumers make better decisions. For instance, while searching for a good surgeon in Australia, one could consider the website of various doctors and surgeons for decision-making. Reviews, recognition, and other such information are available to patients when choosing a surgeon.
Similarly, if a student is searching for a good university, the information available through digital marketing can help the student choose the best course.
Search Engine Marketing (SMM) and Sales
Businesses can reach millions of users across the world with a search engine marketing strategy. Zappos, an online shoe retailer, has made great strides and multiplied sales through digital marketing. It is estimated that 20% of its sales are through SMM. This only proves the efficacy of SMM.
The hospitality industry also benefits from SMM. Through special offers and incentives marketed on social media channels, businesses can attract customers to their website.
Digital properties such as Google My Business provides businesses with an option to register a listing in the online directory.
Digital marketing equips businesses with information on the number of customers who visited their website on a real-time basis. Furthermore, decision-makers can see top-performing web pages and the type of content that is working for the business. This insight helps optimise marketing plans and budgets.
Comparatively, traditional marketing does not offer such benefits. Businesses cannot understand and gauge how customers are interacting with the brand. There is no scope to understand customer preferences and buying behaviour either.
The evidence of digital marketing can be seen in statistics. It is estimated that 75% of marketers increased their company’s credibility and trust with digital marketing tactics.
There is no getting away from the benefits that digital marketing provides to businesses today and those who are not actively pursuing digital marketing strategies will find themselves left behind.