An increasing number of forward-leaning businesses are embracing digital marketing. They're doing so primarily because consumers prefer digital channels to learn about companies and the products and services they offer. Consider the following metrics:
- 72% of consumers are currently connecting with businesses through digital marketing channels
- Digital marketing increases conversions by 24% on average
- 40% of businesses using digital marketing report "considerable savings"
- The use of digital marketing strategies increases revenue growth by 2.8 times, and improves ROI by as much as 300%
First up, what is digital marketing? Digital marketing means different things to different businesses, but most companies which embrace digital employ a similar set of strategies. Hubspot provides a useful definition of digital marketing:
"Digital marketing is an umbrella term for all of your online marketing efforts. Businesses leverage digital channels such as Google search, social media, email, and their websites to connect with their current and prospective customers."
So the big question is, how can digital marketing help my business? Some businesses are reluctant to leverage digital marketing strategies, often because those strategies are unfamiliar to them, and sometimes because they assume that doing so requires an expertise they don't possess. The good news is that there are experienced digital marketing agencies which can help. Working with a trusted digital partner, your business can reap the several rewards of a robust digital strategy, including the following 6:
1) You can more effectively compete with larger businesses: on Main Street, it's hard to compete with stores that have more money for signage and fixtures. Online, however, even very small businesses can compete with industry giants if they have sound digital strategies to be found (through SEO and PPC) and engaged with.
2) You can save money: when effectively leveraged, digital strategies can produce results for substantially less money. For example, leads generated through digital cost on average 61% less than those from traditional marketing channels, like direct mail and print ads.
3) You can more easily measure results: measuring the effectiveness of traditional marketing strategies like telemarketing and TV ads can be challenging. When you market online, you can use analytics packages (like Google Analytics) to easily measure all your important marketing metrics, like those related to website traffic, engagement on your site, conversions and sales.
4) You can more easily refine your strategy to improve results: because digital provides performance metrics in real time, it's easier to make the necessary marketing tweaks to enhance results. For example, you can split test PPC ads or web page content to discover what approach works best. In this way, you can implement a program of continual improvement to increase profitability and sales.
5) You can generate high-quality leads: using digital marketing, you can post valuable content to bring prospective customers to your website and offer that content in exchange for their contact information. This means not only that you'll generate more leads, but also that they'll be leads who already know something about your business, and are already predisposed to trust you for the help your content provided them.
6) You can build trust in your business: consumers over the past couple decades have become increasingly skeptical of traditional marketing. It's the reason millions have registered on "do-not-call" lists to avoid annoying telemarketers, and millions more fast forward through intrusive TV spots. Digital marketing provides a vehicle to market your business non-intrusively with helpful information that solves people's problems. This increases trust in your business and makes consumers more likely to choose you when they're ready to make a purchase.
If you're finding it difficult to achieve your key marketing objectives through traditional strategies, you owe it to yourself to consider investing in digital marketing. If you're new to digital marketing and need some guidance, find an agency which will take the time to understand your business and what you're trying to do to move it forward. Working together, you can implement customized strategies which will drive sales, build your brand, establish trust and grow your business.
For an obligation free discussion about how you can plan and implement a digitla strategy for your business to drive engagement and sales, contact me anytime.