5 Factors Driving Widespread Adoption of Digital Marketing
Proliferating technology and availability of affordable internet services is providing both small and large businesses with a medium to extend their consumer base and promote their products and services. Digital marketing is a term which encompasses the use of digital platforms such as search engines, email, social media, and websites for marketing and promotion of services and products. Businesses are increasingly leveraging the help of digital marketing agencies and around the world to devise effective and efficient strategies to scale their businesses.
Here are the top five reasons which are driving the widespread adoption of digital marketing:
1. Cost-Efficient and Effective:
Emerging businesses running on a tight budget often find themselves having a scarcity of funds and resources to invest in advertisement and marketing. While billboards, television and newspaper advertisements, and radio announcements can cost companies dearly, digital marketing offers an affordable platform for small enterprises to reach out to an extensive consumer base with minimal investments. Additionally, it levels the playing field for both, prominent and new market players by allowing small companies greater penetration into the market. A recent development complementing the fact was the retail giant, Unilever allocating 40% of its media investment for digital advertising campaigns.
2. Measurable Results:
With tools such as Google and Sitecore Analytics, enterprises are able to monitor the real-time performance of their marketing campaigns. The tools allow digital marketers to evaluate their campaigns by identifying the number of leads it generates and the eventual number of visitors or leads it can convert into new customers. Real-time monitoring of marketing campaigns allows enterprises to identify profitable digital channels and build upon them. Additionally, the techniques help businesses gauge consumer expectations and tweak the campaigns to lure new customers. Thus, digital marketing ensures higher conversion rates than traditional marketing practices where quantifying results is complex and expensive.
3. Building a Unique Brand Image:
Brand image is central to generating revenues and profits. With the digital space at their disposal, companies can build a unique and trustworthy brand image to stand out. Companies can use digital workspace to manage their online reputation and provide prompt customer support and services. Additionally, enterprises can gather valuable feedback and streamline their strategies which, in turn, aids in improving customer retention, acquisition, and conversion rates. The projection of a unique and novel brand image is not possible using traditional marketing platforms with the medium allowing the broadcast of only a part of the information and vision a brand stands for.
The development of big data analytics and machine learning is allowing companies to develop customised campaigns to target each individual customer. The personalisation of services encourages customer engagement and eventually aids in bolstering the conversion rates. Using these techniques and tools make customers feel valued and an important part of the business. This ensures consumer loyalty and higher profits for enterprises.
5. Effectively Targets Mobile Consumers:
Mobile phone users are accountable for almost 50% of internet traffic generated every day. An average user spends at least three hours a day surfing the web and social media platforms opening lucrative marketing channels for enterprises. The advent of the digital age has substantially reduced the consumption of other forms of media, such as television, radio, and newspaper. Thus, digital platforms have become a vital source of revenue generation for businesses in recent times. In addition, the return on investment is significantly higher when compared to traditional forms of marketing making the technique a must for survival in the ever-so-competitive landscape.
Effective implementation of digital marketing strategies is vital to accessing the vast potential it holds. With digital marketing practices being a relatively newer form of marketing business owners are increasingly collaborating with digital marketing agencies in Birmingham and across the world. While established organisations are investing in building their own in-house digital marketing teams, small and mid-sized businesses are outsourcing the work the agencies to meet their business goals.