There is no harm in sticking with tried-and-tested marketing methods; but in order for a business to survive, embracing the territory of digital marketing can come in handy.
The ever-evolving landscape of modern technology pushes small businesses to exhaust every big and small resource to survive the cutthroat market.
Physical shops are either switching to an online storefront or beefing up existing marketing strategies by incorporating digital strategies just to expand their reach.
However, operating with a minimal budget can be quite restricting that small and mid-sized businesses feel more pressured to adapt contemporary and digitally powered tactics for promoting their services.
It is true that conventional marketing strategies each have their own pros. But with society growing more and more dependent on the internet, old advertising approaches may no longer be as effective.
There is much to be considered when shifting to a new method of promoting one’s business. After all, coming up with a brand new campaign also means changing certain practices and ideas already embedded into the mindset of the business owner and their staff.
As scary as it may seem, incorporating digital marketing trends is also highly advantageous.
This does not only involve creating varying campaigns but likewise focusing on the big and small details and risks coupled with employing a new marketing strategy.
There are so many reasons why digital marketing is an important component in expanding businesses. This article has singled out the top 4 reasons:
1. Wider Geographical Reach
Expanding a business’ reach to a whole new geographical landscape using traditional marketing can be stressful and time-consuming.
Shifting to digital marketing, however, can easily help the business to expand its reach to new areas without any major drawbacks. Digital marketing provides a seamless way to enable businesses to readjust the span of their reach in a particular city or state.
Digital marketing gives businesses a flexible way to reach their target market. In social media alone, businesses can promote products to customers across the globe and prompt them to click on the link that will redirect them to the brand’s website.
As was mentioned, small businesses usually don’t have enough resources and budget to spend on digital marketing. Still, the goal is to reach the maximum number of heads with the lowest price possible.
As of writing, a 30-second television ad averages around a striking $115,000 (that is if the TV ad is broadcasted at non-peak hours during the day). This figure alone is too expensive for a small business to be able to afford it.
However, using digital ads, small businesses can reach a super-targeted audience at a lower cost As opposed to television or radio ads, digital advertising helps save up to 40% in marketing expenses.
Digital marketing enables businesses to stay within their allotted budget yet still have full control of the quality of their campaigns.
In addition, promoting products and services has been observed to gain a higher cost-per-lead (CPL) rates, compared to other marketing channels.
3. Seamless Ad Performance Measurement & Analytics
One of the best advantages that digital marketing can provide is the easy access to data regarding the performance and effectiveness of different campaigns on different channels.
User behavior and purchasing patterns can be measured while target audiences can be filtered based on demographics to make insights more detailed and accurate.
4. Generates Higher Income
Digital marketing also helps generate higher revenue. Small businesses using digital marketing strategies are found to have three times the chance of expanding at a positive and steady trajectory. It costs less and requires minimal manpower to supervise different campaigns.
Digital Marketing can be a viable strategy for businesses to thrive in this cutthroat landscape. Not only does it provide techniques to attract higher traffic, but it likewise aids in improving the engagement and conversion rate of the business.
While there are still traditional marketing methods that can still rival contemporary advertising channels, it should not entirely be forgotten or replaced. In fact, the right mix of traditional and digital marketing can be a great way to boost a business’s overall structure.