Why Digital Marketing is serious business for your business ?
Firstly, What is digital marketing ? In the simplest terms, Digital marketing is the technology by which you can marketing to people who are online or on the internet. Another way to put it is that digital marketing is the technology that lets you leverage the power of the internet to reach the people across the world. Not surprisingly, Digital marketing is sometimes also called Internet Marketing.
Traditional advertising or marketing technology ( like Ads in paper, Bill boards, etc ) also let you do that. So what’s special about this and why is it important for your business. ? Well, here are a few reasons why your business should look at Digital marketing for it’s growth
The first one being reach. With more than 3.5 billion internet users worldwide, 1.9 billion searches A DAY and more than 1.8 billion Facebook users , chances are good that the people who you want to market to are somewhere here, right ? Compare this , for example to the population of continents like Europe, approx. 743 million or that or Africa , approx. 1.2 billion, and through Digital marketing you can reach anyone in these continents as easily as you can someone next door. That’s really powerful.
Well, it’s not just the reach and it’s not just numbers. In most cases, your target audience, the one that is most likely to buy your product or service is probably a subset of these people. Digital marketing allows you to precisely target your audience based on demographics like age, gender, marital status, location, parenting status , etc or based on their interests , like do they like bikes OR are they into fitness products OR do they like watching action movies or are they a gizmo freak who wants to the next big electronic gadget , etc OR based on their professional associations , like do they work in the oil & gas industry or in Information tech. Space, are they into HR person or are they a software engineer, are they a junior employee in the company or a decision maker like a CXO or owner / partner, etc. Basically, the idea is that once you create a buyer persona for the type of people you want to reach, Digital marketing lets you get your message across to those people with the ease and the most precision possible compared to other marketing tactics.
The next big advantage is measurability. You must have heard the popular axiom , “You cannot improve , what you cannot measure”.Digital marketing technology lends itself very well to being able to measure the efforts and calculate ROI. You could for example , very easily calculate the cost per view , cost per lead and cost per sale or conversion for your digital marketing efforts. Looking at these metrics, you can easily see which of your ad campaigns work well and generate positive ROI for you so you could spend more on those and pause the other ones. Besides, the ROI metrics, you can also slice and dice the data for your campaigns by user behavior to see how your target audience responds to your marketing messages. Facebook, LinkedIn, Google, Instagram, Email marketing, etc, all of them offer different level of analytics for your marketing efforts. Believe me, this sure is a wonderful
Flexibility of Budget
A common question often asked by newbies is “How much will it cost to do Digital marketing ? The beauty of Digital marketing is that you can suit your own budgets. You can start for as low as a few thousand rupees ( less than $100 ) a month and see what works best for you and gradually scale up as you start getting a positive ROI. The cost of experimenting with your marketing efforts is significantly simpler than any other traditional marketing methods you may know of and this is one of the key drivers for adoption of Digital marketing technology by many people and organizations, who want to start small , discover a positive ROI model and then scale up.
So, here’s the kicker. What do you do when you see an ad in the newspaper or a magazine or maybe a billboard on the highway and it’s for something that you like and want to find out more about ? Depending on where you saw it and at what time , you may stop and note the contact details , maybe bookmark it, get in touch with the advertiser at the right time ? It’nt is ? Can you just click it maybe leave your email id so the advertiser could get in touch with you ? Or maybe if you think it maybe useful for a friend or family member, can you just share it with them in two clicks ? I guess not….BUT, with Digital marketing technology, the ads can be interactive. You can request more information right away, maybe leave your contact details., share it with others, even call them simply through a click on the phone. The point being, it reduces the friction between you wanting to connect with the advertise and actually connecting with them. In this day and age when people multitask and have 10,000 things running on their mind, you as an advertiser don’t want to lose out this opportunity of instantly connecting with your target audience, you want to make it super simple, right. This real time engagement is possible through the use of Digital marketing technology.
So, are you ready to jump the fence ?