The Importance of Digital Marketing

What is Digital Marketing?

Digital marketing is the process of marketing products or services to potential customers and investors via digital channels and the internet. Digital marketing has the same goals as traditional marketing, the only difference is the medium used to convey the marketing message.

Businesses leverage various digital marketing activities such as search engine optimization (SEO), social media marketing (SMM), email marketing, search engine marketing (SEM), content creation, and more to promote their brand to their potential targeted audiences or to retain their invested customers.

The Future & Scope of Digital Marketing

When talking about the scope of digital marketing for businesses, it is extremely adaptable. Digital marketing has allowed businesses to start allocating their marketing resources to the correct set of people through the right channels.

This ensures optimum use of resources and higher conversion rates. Thus, it has become a very integral part of all kinds of businesses today. Digital marketing has now turned into a necessity. By far, it is one of the most effective ways to reach your target market while they’re spending a lot of time on the internet.

The biggest contributor to the bright scope of digital marketing is naturally the benefits they offer and the ability to maximize ROI.

The Top 10 Benefits of Digital Marketing:

Reaching a Global Audience
Marketing to Niche Audience
Increased ROI
Trackable & Measurable Results
Increased Social Currency
Interactive Marketing
Improved Conversion Rates
Re-marketing Opportunities
Win Customer & Investor Loyalty
Higher Engagement

Top 10 Benefits of Digital Marketing

1. Reaching a Global Audience

One of the biggest advantages of digital marketing is that it has removed all sorts of geographical barriers. You can open your doors to states, provinces, or foreign countries and offer your products or services to audiences in a global marketplace. You can market to them with just a click and create awareness to people who otherwise had no chance of knowing about your existence.

While we do know that considering a global audience is a very huge number, that problem can be solved with the next benefit of digital marketing.

2. Marketing to Niche Audience

Niche targeting means reaching out only to those people who fit your criteria. This can be done with the help of digital marketing. When you advertise on digital platforms, you can filter out the audience as per the qualities that match your target audience and then run ads. For example, you can filter the location, then further filter them as women between the age group of 25-40 and then further go on to filter them as women who are working. This also applies to SEO.

That is how detailed targeting can go, and even further.

3. Increased ROI

Without any doubt, maximizing ROI and increased ROI is the biggest benefit of digital marketing. In the end, all business activities boil down to the money they require. With the extensive reach offered by digital marketing, the costs are comparatively affordable and not a burden. The investment in digital marketing is significantly lesser than in traditional marketing, sometimes even zero such as SEO.

Hence, the ROI on digital marketing efforts is considerably higher compared to traditional marketing. This also allows small-scale businesses and start-ups to make optimum use of digital marketing without causing very heavy stress on their budgets. At the same time, larger businesses with bigger budgets will spend less per qualified lead using a strategic digital marketing program.

4. Trackable & Measurable Results

Any company strategy is a waste of time if you cannot measure your performance. This basically means making efforts in the blind. Compiling a strong strategy and implementing it is just half the battle. Tracking your performance, measuring your successes or failures, and taking corrective steps is the ultimate goal. With platforms like Google Analytics, Google Search Console, SEM Rush, and many more, you can track the performance of your digital marketing campaigns end-to-end.

That’s how you decide what works best for you and continue those strategies.

5. Improved Conversion Rates

With the help of tracking the performance, analytics can assess where your maximum sales come in from and accordingly target those audiences. Thus, it simply means higher conversion rates as investment is applied where there is a stronger demand.

In traditional marketing, it is difficult to impossible to find out where the lead got converted from and thus you may be wasting your time on the wrong leads. However, with digital marketing, this can be solved by targeting a similar audience that had the maximum leads converted.

6. Increase Social Currency

Social currency is ultimately the presence that you have on digital platforms. It is your digital footprint. With the help of digital marketing, a company can consistently increase your social currency, which means your online presence gets bigger and stronger.

How is this beneficial? With everyone present online, the more you are visible to people, the higher the chances of your business being noticed. Which finally brings in more sales, consumers, or investment. Like accumulating wealth or currency, collecting your social currency doesn’t happen overnight. With consistent efforts, the increased social currency will reap repeated growth and less marketing effort will be needed.

Thus, digital marketing is exponentially beneficial to increasing social currency.

7. Interactive Marketing

Digital marketing is all about two-way interaction. Brands interact with their target audience to portray their uniqueness through various digital marketing campaigns. In turn, investors or leads interact, engage, and put forward their interest in that particular brand. Such a benefit of digital marketing is rarely visible in traditional methods. Both brands and clients are aware of their interaction with each other.

No potential brand can know the accurate amount of eyes that their billboard has attracted and if so, how many are actually interested in their product or service. Likewise, customers with a short attention span rarely keep note of the details on a billboard and inquire with the brand later (possibly).

8. Re-marketing Opportunities

With the help of niche and digital marketing, your company can send out personalized messages to a similar audience which increases your chances of converting them into consumers. This process of reaching out to those who have shown interest in your product or service and brand via email, targeted ads, and SMS is known as re-marketing.

With re-marketing, personalization becomes the key to a consumer’s mind and helps qualified leads remember your business. Email marketing is the best form of re-marketing which lets you formally communicate with your customers but with a personalized message. Oftentimes, email marketing has seen higher open rates and responses than other platforms.

9. Better Brand Experience

Winning an investor’s or customer’s loyalty is the ultimate win for any company. These groups of people are actually the best marketers for your business. With digital mediums, reaching out to your audience about your brand is also much easier.

For those who are interested in your product, service, or company and have inquired about it, you can use re-marketing techniques to convert them from leads to brand investors. All of this, holistically, helps build a good reputation for the brand within their audiences’ psychology which in the long run will convert into business growth.

10. Higher Engagement

Every successful business is well aware of how people are extremely interactive and active on social media platforms. This gives y0ur business an opportunity to post interactive content, engage with your audience, and answer their queries.

People love when brands listen to them and respond to them effectively. They prefer brands that value their voice. Thus, with the help of social media management and marketing, your business can effectively communicate with potential leads, and at the same time, build your company’s relationship and reputation.

Start Reaping the Benefits of Digital Marketing

Digital marketing offers numerous benefit and plays a pivotal role in the success of every business in today’s global marketplace. Clearly, the top benefit is its cost-effectiveness. With a modest investment, your company can reach an incredible number of people through digital channels. No matter what size your business is, you can benefit from investing in digital marketing.

We are more than happy to listen, understand your business goals, and answer any questions. To learn more if Romans Media digital marketing is right for your business, please connect with us today.