By Mutsa Munyawiri
Marketing strategies, methods and processes have really evolved, in comparison to traditional marketing, where companies have in the past invested in and relied solely on direct mail, print and out-of-home advertising. Businesses no longer need to throw large or limited budgets into strategies based on guesswork and assumptions, we now have a wide range of digital marketing methods that suit a wider variety of budgets, objectives and most importantly, a wide range of industries.
Most of you will be somewhat familiar with digital marketing, it’s practices, tools and success stories. For those of you who aren’t, digital marketing encompasses all marketing initiatives that utilise an electronic device or the internet. Businesses leverage digital channels such as search engines, blogs, social media platforms, email communications, and their websites to connect with current and prospective customers. No matter what you are selling, the techniques involved in digital marketing can provide you with quick and effective results due to its responsive, detailed and efficient nature.
Since more and more consumers are researching products online, browsing digital media and socialising on digital communication platforms, there’s never been a better time to start putting your brand in front of the right people at the right time. According to Nasdaq, it is thought that by 2040, 95% of purchases will be facilitated by eCommerce. And, UPS reports that four in ten purchases are made using only an online channel for research and buying.
Therefore, it is essential to understand the key benefits associated with digital marketing and to realise the significant positive impact the right implementation of a digital marketing strategy could have on your business.
So why should you take advantage of the never-ending rise in online acquisitions?
Here’s the answer:
One of the main reasons why digital marketing has succeeded in surpassing traditional marketing is the fact that it offers measurable results. It’s almost impossible to measure the footfall by that billboard you spent £££ on, let alone how many of those people actually looked at it. However, when you opt for digital marketing methods, you can get reliable data through reports and dashboards, that enable you to optimise and focus on areas that are performing well.
If you were trying to find ways to market your business 15 years ago, chances are that the only options you had were T.V & radio ads, print, out-of-home and direct mail. Attached to these traditional methods, were probably very limiting targeting options. This is where digital marketing can be far more effective, as not only do you now have 15+ methods to choose from, you also have a plethora of fairly precise targeting methods to use alongside them. It’s the ability to be able to tailor your message for different audiences that makes digital marketing so attractive to people. You’re able to effectively target certain people that are likely buyers of your product so you’re making sure that you’re only ever delivering relevant messages to the right people.
Whether you’re advertising your business/ products/ services on the search engine network or social media platforms, you’ll never be short of reach. We know that a majority of the world’s population use Google and other search engines, plus Facebook now has over 2.5 billion users, so there’s plenty of opportunities to reach people who are right for your business.
Digital marketing platforms also allow you to segment your audiences for further granularity. Segmentation is the process of breaking large audiences down into smaller audiences, according to a particular classification. Segmentation increases the chances of conversions, as well as lower cost-per-acquisition.
One of the considerable issues with offline marketing methods such as print advertising and T.V ads is that they’re usually very expensive. This has meant that if a smaller business couldn’t afford to invest in that particular method, it would give bigger businesses an advantage. Digital marketing offers a more affordable and scalable alternative to the traditional methods. You’re able to a create just as much of an impact or maybe even bigger than your competitors at a significantly lower cost.
With traditional marketing, optimisation tends to either not be an option or it has to be an afterthought when it’s too late. Digital marketing campaigns allow you to experiment and try new things easily so that you’re able to tweak and perfect your ad so that it performs as effectively as possible. You have complete control and viewability to act on performance analysis, if it’s performing well, you can spend more. If it’s not performing well, you can turn it off or you can investigate further using the reliable and detailed reporting tools, included within all digital marketing platforms. However, with traditional marketing, you’ll spend months creating the perfect advert and if it doesn’t perform well you’ll have paid a hefty sum of money and will then have to rethink your design and strategy.
Creating a defined and focused digital marketing strategy might not be as straightforward as reviewing the benefits, and that’s where we come in… At Frogspark we’re dedicated to building bespoke brand & data-driven strategies to create unique and successful digital marketing campaigns, no matter what your business objectives are. Get in touch to find out more.
Part of The Digital Maze Group