With internet being the fundamental information source today, people are increasingly relying on the World Wide Web. This dependency has forced companies to shift their focus on digital marketing in order to reach out to their key audience. Online marketing allows businesses to connect with an audience that is beyond their respective geographical boundaries, thereby creating infinite prospects to thrive in a global market scenario. The impact of digital marketing is so significant that marketers are forced to buckle down and adopt an effective digital marketing strategy to survive in the cut-throat market.
Image Credit: Contentualize
We live in a digital realm where internet is the fundamental source of information. With people relying greatly on the World Wide Web, it has become paramount for businesses to invest in effective digital marketing strategies today. With digital marketing, the companies today have an opportunity to reach out to the audience that lies beyond their physical boundaries. Therefore, the marketing prospects of organizations that were once limited, have now transversed into infinity.
Over the last decade, there has been a shift in paradigm from an analog to a digital realm. With more and more people relying on online information, the need for digital marketing has become inevitable for businesses worldwide. It has transformed into a window of opportunity for companies to reach out to a wider audience across the globe. By eliminating geographical boundaries, digital marketing has created infinite prospects for marketers to propagate their brand.
With the new and modern technologies unfolding every day, the marketers are doing all that they can to keep up with the rapidly growing and demanding market. Enterprises are either entirely changing their marketing plans of action to digital ones or amplifying their current strategies by incorporating digital marketing techniques into them. It is quite evident that digital marketing has created a boon in the marketing industry and forced businesses, irrespective of their scale or niche to modify their marketing strategies and objectives to become compatible with the digital world.
Another notable feature about digital marketing is the fact it caters equally to small businesses, as it does to the bigger establishments. The cost-effectiveness of online marketing strategies has offered small businesses a hoard of new opportunities to make their mark in the big market and compete head-to-head with conglomerates. Digital strategies, unlike traditional marketing strategies, don’t depend on a hit and try approach. Each action is scalable, thus allowing marketers to measure their strategy real-time and understand the impact of the same. Such high-level of transparency has revolutionized the marketing process for businesses worldwide. The advent of digital marketing has further allowed companies to directly communicate with their audience, take in their feedback and understand their expectations, which was not possible in the conventional marketing form.
The primary reason why digital marketing is a dominant trend today is because of the far-reaching connection it avails. With effective digital marketing, you have the opportunity to promote your products and services worldwide with a few clicks. Owing to the digital advertising, today brands have a real-time connection with their customers and vice-versa. They are aware of the queries and expectations of their audience and hence have the informative opportunity to enhance their experience.
This comprehensive and meticulous infographic by Contentualize highlights on the importance of this vital instrument and the role it plays in generating ROI’s, driving traffic, elevating sales, and so much more for progressing businesses of today.Companies which already have an online presence are beefing up their marketing strategies, and rest are rapidly moderating their business models to ensure compatibility with the promptly evolving digital world.
Contrary to the traditional marketing methods, the scope of digital marketing isn’t restricted to flourishing conglomerates; rather it equally caters to the SME’s as well. In the past, investment on marketing was only meant for the affluent demographic whereas the small and medium scale businesses had to settle for small, within their reach methods with almost a negligible guarantee of success. However, with the advent of digital marketing, the entire perception of marketing has transformed for the better.
Additionally, the significance of online marketing amplified due to the fact that it equally caters to the SME’s as it does to the conglomerates. The cost-effectiveness of digital marketing strategies has given SME’s a host of opportunities to thrive in the market and compete head-on with the established firms. Contrary to the traditional marketing methods, online marketing is not based on a hit and try, where analysis is a complicated task. Instead, each strategy in digital marketing is backed by extensive research and analysis and the marketers can now measure the impact of the same. There is a transparency in the marketing realm that has certainly transformed the business world for the better.
The market witness’s new technologies every day, digitizing businesses with every passing phase. This has forced marketers to do everything in their power to remain in the game and keep up with the ever-growing customer demands and expectations. And it is the advent of digital marketing has made it possible for these marketers to directly communicate with the audience across the globe at just the click of a button.
Owing to the advent of technology, businesses, irrespective of their scale of operations are investing everything they have to keep up with the dynamics of today’s digital market. Companies which already have an online presence are beefing up their marketing strategies, and rest are rapidly moderating their business models to ensure compatibility with the promptly evolving digital world.
Irrespective of what many traditional businesses may believe and adopt, digital marketing has churned out to be the necessity of the hour. It has proven to be the ingredient without which any marketing campaign lacks the desired flavor to stir the appetite of a potential audience.
Let’s delve into some of the statistics that will help in adumbrating the importance of digital marketing.
- 72% marketers considered traditional marketing methods inadequate and moved towards digital marketing strategies to increase their revenue.
- Approximately 49% of companies have invested in a digital marketing plan, and the numbers will substantially rise in the coming years.
- In the coming years, over 80% of companies will increase their digital marketing budget which is speculated to go beyond the overall budget of the IT sector.
These statistics clearly indicate that digital marketing has become the need of the hour, if not the need of yesterday.To further shed light on the subject, let’s look into the advantages of digital marketing.
- Generating Precise Return on Investment
Using traditional marketing techniques like Billboards, flyers, newsletters, etc., often make it difficult to fetch relevant data or return on investment subjecting to the specific strategy. Hence, it gets ambiguous as to what’s working for the business and what’s not. Analytical tools like Google Analytics, MixPanel, Heap Analytics, etc., on the other hand, offer easy and measurable data. These data highlight the cost-effectiveness of your expenditures and determine which strategy is providing effective leads, sale, ROI, etc. In fact, the analysis can be used to pinpoint the weakness in your digital marketing ideas, which then can be addressed by rectifying measures.
- Digital Marketing Benefits Your Audience
For a business to flourish in this vigorous market, it has to have an immaculate online reputation. It is evident that customers pull up extensive online research before they associate with a brand. The success of digital marketing ideas also relies on establishing distinct platforms to build a personal rapport with your targeted audience. Investing in social media platforms, email marketing, blogs, etc. will help you in reaching out to your customer base and exhibiting why you are the right choice for them. Also, these platforms can also be reliable sources for your customers to connect with you and ask queries or give feedback, hence helping you build a loyal clientele.
- Availing Reliable Conversion Rates
The ultimate aim of any marketing strategy is to convert the leads into sales. While traditional marketing strategies delivered little to no inputs, digital marketing accords insights at every step of the way. When your marketing strategies are solely directed toward the targeted audience, probability of conversion comparatively increases. You have the opportunity to closely monitor on how much traffic you have generated and how many of them have transformed into subscribers, hot leads, and eventually loyal customers. This way, you have comprehensive data in real-time that allows you to calculate and analyse your digital marketing ideas to amplify better conversion rates in the future.
- A Streamlining Platform for Small Business
The advantages of digital marketing for small business depends a lot on the budget, as well as the strategy to connect to a wider sphere of audience within that budget. In the past, for small businesses, the idea of putting themselves in the digital world seemed far-fetched. However, today 32% of small-scale businesses invest only in online marketing. Apart from the importance of digital marketing, businesses have realized the dominance of customized marketing which traditional marketing forms fail to provide. The impact of digital marketing is so significant that marketers are forced to buckle down and adopt an effective digital marketing strategy to survive in the cut-throat market.
Therefore, if a small-scale business wants to create their foray in the market, retaining a digital footprint is a must.
- The Pervasive Presence of the Market
Digital marketing skyrocketed because it burnt the bridge that restricted communication between brands and users and vice versa. Every internet user today carries a smartphone that allows them access to information real-time. According to reports, in 2017, around 188.4 million people shopped via mobile phones. This is the prominent reason why companies have customized their websites to work efficiently on every device, either in the form of mobile versions or mobile apps. The digital realm is omnipresent; thus businesses have to walk the extra mile to ensure they are available to the world 24*7.
The market witness’s new technologies every day, digitizing businesses with every passing phase.Companies which already have an online presence are beefing up their marketing strategies, and rest are rapidly moderating their business models to ensure compatibility with the promptly evolving digital world. This has forced marketers to do everything in their power to remain in the game and keep up with the ever-growing customer demands and expectations. And it is the advent of digital marketing has made it possible for these marketers to directly communicate with the audience across the globe at just the click of a button.
Earlier small businesses were focused on competing within the local market. Globalization and digitization has led to the growth of both, omnipresent opportunities and omnipresent competition. Other than effective digital marketing ideas, businesses need to come up with strategies to make an abiding impact on their audience. The cost-effectiveness of digital marketing strategies has given SME’s a host of opportunities to thrive in the market and compete head-on with the established firms. Contrary to the traditional marketing methods, online marketing is not based on a hit and try, where analysis is a complicated task.
Instead, each strategy in digital marketing is backed by extensive research and analysis and the marketers can now measure the impact of the same. The only way to survive today’s cut-throat competition is to ace that competition, and adopting an effective digital marketing strategy gets you a step closer to achieving it.
This is an elaborated infographic that highlights the importance of digital marketing and the way it has helped marketers increase their traffic, generate ROIs, acquire better sales, make a lasting connection with the targeted audience, and much more.