Over the past several years we have seen a significant change in consumer behavior. Technology has been embedded into our daily routines changing the way we communicate and bringing convenience to numerous industries. This has transitioned the marketplace over to digital and with so many customers online, it’s essential for businesses to be online as well.
Though there are many more, we have created a list of the top 5 reasons why your business needs digital marketing. (Below)
1. Best ROI (Return on Investment)
Digital marketing is substantially more affordable than traditional marketing which opens up a world of opportunity for all businesses regardless of size. Email marketing generally has the highest return with well established businesses reaching upward of 3000% on a single campaign. Other channels such as social media marketing and content marketing can also produce major results with studies showing a 78% increase on average for businesses who utilized social and content marketing vs those who did not.
2. More Targeted
Reaching your target market magnifies leads and conversions and ultimately gets your business closer to maximizing it’s growth. With an assortment of digital marketing platforms you can target consumers by specific regions and demographics such as interests, gender, and age. You can also track customers from there initial interaction with you! This is also much more cost effective than traditional advertising where you would generally pay more to reach less of your target market.
Year over year, people from all over the world, of all ages, are increasing their time spent online and 22% of the world’s population is on Facebook! Reaching new customers and raising product/service awareness is imperative. A study has shown 81% of users do online research before buying. In order for these users to find your product or service, you need a strong digital presence allowing your business to be easy to find and readily available.
4. Scale & Adapt
With digital marketing, scaling and adapting to an increased revenue is simple as there are no tied down lengthy contracts with social networks nor search engines. For a low price you are able to split test on different platforms to see what works for your business and then scale as growth is induced. This brings us back to how cost effective digital marketing truly is!
5. Level the Playing Field
Having a strong digital identity is crucial for small-medium sized businesses. Consumers in the digital marketplace are looking for value and could care less about the size of a business. This allows a business to take on much larger competitors that they wouldn’t be able to elsewhere, all while being on a budget a small business can afford.