April 22, 2018
Importance of Digital Marketing for Today's Businesses
All businesses, whether established for the purpose of generating profit or supporting a social cause, rely on attracting more customers who are looking for what they render. Therefore, a business should be present where its customer are. This is where digital marketing becomes one of the most essential strategies for business success.
Today, one of the first and basic steps when starting a new business is setting up a website; and along with that come the social media pages. However, while a website is a must for businesses nowadays, is a company presence across social media channel an absolute necessity? Indeed it is.
Let’s begin with Facebook. When it comes to content, there are two types of Facebook business pages: one that is intended to promote products on a daily basis and get users to go to the website and fill their cart as a result. Those kinds of pages rarely post anything other than the products/services that the company offers. On the other hand, a few businesses prefer to build a wholesome Facebook profile that intends to present the identity of the company. Posts showcasing a product are hardly a part of the content of such pages. Those pages adopt the policy of showing rather than telling.
Is a Facebook page more important to one business more or less than another?
Definitely not. Social media in general has become the main source of customers and consequently revenues for even the long-established corporates. As more traditional marketing methods are being discarded, digital marketing is taking up a bigger part of the marketing strategy for businesses. One reason behind the trend towards digital marketing is the cost, especially when compared to traditional methods of marketing. Cost used to be the biggest obstacle for new companies. But in this article, I decided to put the monetary factor aside and talk about other effective benefits of online marketing.
Here is a list of reasons digital marketing is indispensable to your business growth:
- Accurate Targeting:
This pointer is the deciding factor when it comes to online vs. traditional marketing. When you want to advertise for your new collection for instance, you can decide who sees your ads – which is the group of users who are likely to have interest in the product – and what group you can leave out as you are certain that there are no indicators of any interest they might have to purchase your product.
- Measurable results:
Whether you rely on social media, AdWords (ads that appear on Google’s search page when users search for similar keywords) or any other method of online advertising, you can rest assured that you can get measurements of the ads’ performance. The accuracy of the measurement could go as far as to tell you the journey of the conversions, starting with the main source of the user’s click and ending with them filling the form on your website or landing page.
This is most useful for the company as it learns which area to channel the biggest chunk of the budget into and which to leave just a dent of it for. As with old-fashioned marketing methods, it is almost impossible to tell what led the buyers to the company. How many noticed the huge hoarding? How many read the ad in the newspaper? Did the TV commercial that the company spend dearly on pay off? There is no way to tell!
- Fair competition:
Marketing is not a mere open-and-shut process. It takes time and huge effort for a company to position itself in the market. Yet, with those two elements at hand, cost comes in the way. New companies didn’t get a fair chance to compete in the market with financially capable and well-established corporates. Today, online marketing opened its doors for creativity and offered all companies, no matter how old, the golden chance to compete.
- Instantly publishable, editable and removable:
With marketing, there’s always no room for mistakes. But sometimes there’s no helping it. An oversight slips through the net and goes out to the public. This would be a catastrophe in a traditional marketing campaign as it would cost the company heavily. In this particular scenario, online marketing is a savior. When you launch a campaign on any platform on social media or Google Adwords, there is always a chance to edit the campaign and re-publish it or even remove it altogether.
How does Digital Marketing benefit startups?
Here we can talk about cost-efficiency as the main player in the startups ecosystem. Basically, a startup is an owner(s) of an innovative investment idea looking to turn this idea into a profitable business. Before online marketing, the mission of starting a business was not a simple step. Reaching out to potential customers would require huge efforts and financial resources.
Online Marketing has been the main trigger of many successful businesses. Nowadays, you will find companies established for the purpose of assisting other startups market their idea. The platforms available give more space for creative minds to thrive and compete.
Are you a creative marketer looking to start your own company?
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