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Here are 5 reasons why your business should focus on digital marketing
According to recent studies, only about half of all businesses have a defined digital marketing strategy!
Businesses, particularly successful ones, have well-defined organizational structures. Such structures are designed to achieve one overarching goal: to generate more revenue! Whatever your business structure is, the ultimate goal of every company is to reach as many clients as possible in order to increase revenue.
The primary means by which they achieve this growth is through marketing to their target audiences. However, one major issue that many businesses continue to face is stagnant or low ROI. The main reason for this is that businesses do not adhere to a structured marketing plan based on modern technological revolutions, and as a result, they lose a large clientele base.
There are companies that still use traditional marketing methods, giving businesses that use digital marketing strategies an advantage. If you have any doubts about the importance of digital marketing in today's industry, read this! According to Brian Nowak, an analyst at Morgan Stanley, in the first quarter of 2016, 85 cents of every dollar spent on digital marketing will go to Facebook or Google.
This is completely insane! If this is the case, then businesses must employ digital marketing practices in their operations. So, here are 5 major reasons why 'digital marketing is a must in 2017!'
The goal of developing a digital marketing strategy is to increase lead generation. Only by developing and implementing marketing strategies that target the right group of customers, with a higher chance of converting them into paying customers, will you be able to generate profitable leads for your company.
You won't be able to track the progress of your leads if you don't have a digital marketing strategy. You will lose valuable leads if you are unable to quantify your target audience. The percentage rate of incoming leads converting into potential buyers is one way to measure the success of any business using digital marketing. You can create a digital marketing strategy that includes the following five elements:
• Clearly explains your company's vision
• Identifies clients who are a good fit for the vision.
• Create and implement a solution that is tailored to their needs.
• Informs customers about the product's utility.
• Create sales funnels that can convert visitors into paying customers.
You can use three different tools to ensure that your digital marketing campaign is effective and successful: search engine optimization, social media marketing, and email marketing.
These tools allow for more effective and quick engagement with the target audience, as well as better conversion rates.
Big businesses do not lack funds or capitalization, but if yours is a small business, you must spend your money wisely. Small businesses benefit from digital marketing because it provides a more effective and cost-effective marketing platform that produces results.
According to recent statistics,
• Using digital marketing techniques to promote their services and products resulted in significant cost savings for 40% of small businesses.
• In 2016, 28% of businesses shifted their marketing budget allocations to digital marketing tools and techniques, which were significantly less expensive than traditional advertising methods.
The cost per lead (CPL) earned by digital marketers is higher than that of other marketing platforms!
You can put together a small team of digital experts to help you achieve your goals. The other option is to outsource your needs to a professional firm, which will have all of the resources necessary for a successful digital marketing strategy at their disposal. You would also benefit from such companies' extensive research and customized recommendations.
Planning an effective digital marketing strategy for your business often necessitates a significant initial investment, which is why many businesses shy away from the idea, especially if they are satisfied with the revenue generated by their traditional marketing methods.
However, there is one thing that such businesses aren't aware of: digital marketing isn't limited to marketing a website, and it can actually lead to high exponential growth. Social media marketing, email marketing, app management, content marketing, and SEO are just a few of the online engagement techniques included in an effective digital marketing strategy.
These elements of digital strategy can be combined with analytics that track success and produce effective results that increase market share and increase ROI.
Higher conversion rates as a result of effective digital marketing methods can provide your company with a slew of lucrative benefits in the form of increased and improved revenue. According to a recent study by one of the leading digital firms:
• Companies that used digital marketing techniques saw a 2.8-fold increase in revenue compared to their previous ROI.
• Medium and small businesses that use digital marketing techniques have a 3.3 times better chance of growing their business and workforce.
Everyone who lives and works in major cities has seen a rapid increase in the total number of smartphone users, primarily in the last three years. It is difficult to find someone who is not on their phone, indicating that the total number of mobile phone users has now surpassed the total number of desktop users.
As the number of mobile users grows, the nature of online marketing is shifting to mobile-friendly advertising, which can only be supported by digital marketing tools. If you want to stand out from the crowd and promote your business through mobile channels, you'll need a digital marketing strategy.
Check out the following facts to back up this claim:
• In the United States, 90 percent of adults prefer to shop on their smartphones.
• Around the world, 78 percent of teenagers prefer to shop on their smartphones rather than on their computers or laptops.
• 36% of children in their early teens own a cellphone and use it to access the internet on a regular basis.
If you want to influence your customers' purchasing decisions, you'll need a digital marketing strategy that can accommodate mobile users.
An effective digital marketing strategy can help you deliver on your promises to your customers. This would strengthen your relationship with your target audience, who could become loyal customers and even brand ambassadors.
Furthermore, an updated digital strategy can assist your business in adapting to frequent technological changes, allowing you to stay ahead of your competition. You can use an integrated digital strategy that involves analytics to track changes in your customers' behavior and use that information to improve your marketing efforts on a regular basis.
Digital marketing is all about targeting the right people, generating more leads, bringing in more revenue, and thus working towards business survival. If you want your company to survive in the long run, you must develop an effective digital marketing strategy right now!
Digital marketing allows you to personalize communications and fine-tune targeting by removing the guesswork from who your customers are. You will develop a relationship with your customers as a result of this. You become more than a company; you become a reliable partner.
.High conversion rates are the result of a successful digital marketing strategy, which helps the company earn more money. When compared to traditional marketing channels, digital marketing plans help generate significantly more revenue.
.A professional digital marketing firm examines the company's website and creates tailored campaigns. It aids in attracting a targeted audience. Affordability and cost-effective marketing are two advantages of digital marketing. It is far less expensive than traditional advertising, but it is also far more effective.
.Effective digital marketing assists small businesses in learning about their customers' online habits so that they can better target their ideal customers. Its next course of action is guided by solid market research. Assumptions are not made by smart small businesses.
.Clients of digital marketing agencies are typically charged on a retainer basis, which ensures a consistent monthly income for the company. Because every business has some fixed expenses, having a consistent monthly income makes an agency like this a great business model.
.The internet allows people to quickly access information and make purchases. This is one of the consumer advantages of Internet marketing. When your audience requires assistance, they can get it quickly and conveniently. They see the marketed material on their own time when you market your products to them.
.Because there is now more market and consumer awareness, the future of digital marketing is bright. Businesses can also use a variety of smart tools to collect a plethora of data and conduct in-depth analyses of their target market. It's a brand-new way of approaching the audience.
.In the future of marketing, the scope of digital marketing will not only thrive in the most result-oriented manner, but will also allow businesses to survive. Following the most recent updates, including Google's new techniques, and combining future digital marketing trends will help you get the most out of your inbound marketing.
.The number of active Indian web users is expected to reach 666 million by 2023. According to a report by Global Data, due to lockdowns, the Indian online business market will grow to 7 trillion rupees by 2023.
.Analyze digital data to make key website optimization recommendations. Conduct social media audits to ensure you're following best practices. Maintain a digital dashboard for multiple accounts. Create marketing campaigns in collaboration with the sales team.
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