Why are so many businesses jumping on the digital marketing bandwagon?
For any business operating in today’s world, formulating a digital marketing strategy is key to survival. You may be thinking this doesn’t apply to you if your products and services target the senior population exclusively. After all, technology and digital trends are the exclusive domain of the younger generation, right? In actual fact, that’s nowhere close to the truth. You’ll be surprised by how much further you can grow your business with effective digital marketing. Regardless of your organisation’s size and target audience, if you’re able to strategically harness the potential of digital marketing, you’re looking at serious growth in profits.
What exactly is digital marketing?
Before starting to explore why digital marketing is great for business, let’s first make sure we’re on the same page. Digital marketing means different things to different people. At its very core, digital marketing simply refers to marketing your products and/or services online. Here we examine the 5 core reasons why digital marketing can boost your business.
#1. It’s the next logical step
Australian businesses are increasingly embracing the transition to the digital marketplace. You’ll be hard pressed to find a business owner who hasn’t considered this switch. Bringing your business online through eCommerce website development is the first step to competing in an increasingly digital business environment, but if you don’t maintain your online presence then you’re defeating the purpose of coming online in the first place. If you’re a business owner or marketing manager, you will know that marketing is essential to sell what you have to offer. Similarly, digital marketing is how businesses compete online and achieve greater success.
#2. It’s extremely cost-effective
Digital marketing is in fact a lot more cost-effective than traditional offline marketing. Just think about effective social media marketing – creating engaging content and posting it regularly on social media platforms means instant visibility to all your followers. Now compare it to the cost of physically printing out flyers, newspaper advertisements and other marketing material. While formulating and implementing a comprehensive digital marketing strategy might require the services of a digital marketing company, you don’t have to have a large business to afford such services. There are several reputable yet affordable agencies that cater to small and medium-sized businesses as well. Also keep in mind that the returns from an effective digital marketing strategy can significantly outweigh the costs of professional services.
#3. The sheer numbers!
Digital marketing takes advertising tactics much further than word-of-mouth and cold calling. The core function of a digital marketing strategy is to promote your business online, and in doing so instantly increase your visibility to millions of potential customers who may never have heard of you otherwise. In a globalised economy, digital marketing tactics such as search engine optimisation and effective content marketing help you bring your business to consumers looking for your products and services across geographical boundaries and the constraints of time zones. Internet users account for staggering 93.1% of the Australian population – imagine bringing your business onto the radars of even a small proportion of these Internet users.
#4. It inspires customer loyalty
If you have a business selling a certain product or providing a service, your interactions with your customers may well be limited to the number of times they physically visit your stores or ring your customer service department. This means that they’re only likely to be engaged with you when they need what you offer. Digital marketing helps you build professional relationships with your customers that are more than just transactional. This is often done through blogs, social media platforms, email marketing with your latest offers and even loyalty rewards. Chances are your customers may already be talking about your products/services. Digital marketing ensures you can join in on the conversation and show your customers that you’re more than just a faceless corporation.
#5. You can actually analyse your performance
If you’ve tried your hand at offline marketing, you’ll know it can often take weeks to set up an initial meeting, let alone close the sale. If that falls through, it might take ages and more missed opportunities to figure out how you can improve your pitch and offerings. One of the great things about digital marketing is conversion rate optimisation. With this, you can tell pretty much instantly how your website and online offers are performing, and even see the effects of every minor tweak in real time. Thanks to tools like Google Analytics, digital marketing gives you the opportunity to optimise your marketing tactics and keep improving.
Still don’t think digital marketing is right for you?
No business is too small to enjoy the profits that digital marketing promises. However, before embarking on a digital marketing campaign, it’s absolutely critical to be sure of the credentials of the agency you’re trusting your online reputation with. A poorly-managed digital marketing strategy can actually do more harm than good. If you’re unsure about whether digital marketing could be profitable for your business or have any other queries, get in touch! We’d be happy to arrange for a free no-obligation consultation and help you take the first step to realising your full business potential.
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