What is Digital Marketing?
Digital Marketing is basically the marketing or advertising of the products or services with the aid and assistance of digital technologies. It can also be said as the advertisements, which we usually get to see through digital mediums like search engines, websites, social media, emails and even in mobile applications.
How Digital Marketing is Essential for a Business to Prosper?
With the advent of the Internet; the entire concept of marketing got a revamp. With people, all over the world, spending a significant part of their daily routine over the internet, digital marketing emerges out to be the best way for a business to reach its target audience. With the shift in approach to buying things from offline to online; the need for an effective digital marketing strategy for business has increased tremendously. This is because digital marketing provides a lot of comforts, ease, and convenience to both consumers as well as the business. In the modern age, no tool is more effective than digital marketing, for a business, to tap on its target customers. Following are some essential attributes of digital marketing which highlight its importance for a business, irrespective of whether it is big or small.
For a small business, it is not possible to spend a major part of its resources in utilizing traditional marketing methods like putting an advertisement in a newspaper or a magazine. On the other hand promotion of products or services, through digital marketing, costs a little fraction of sending the same advertisement through traditional marketing methods. Thus, digital marketing, due to being highly cost-effective, opens up a variety of growth options for small businesses.
- Covers More Audience
When utilizing traditional marketing methods the number of customers is usually finite and limited. However, with digital marketing, since your advertisement will be going over the Internet; it will be seen by an infinite number of people who might be interested in your products or services. Digital marketing is not limited to your website and allows you to cover a much wider consumer base as compared to traditional marketing methods.
- Results can be analyzed
When a business sends a promotional advertisement through a reputed newspaper or a magazine it is not possible to tell how many people are actually reading it and showing their interest in the advertisement. However, the same can be tracked, when digital marketing is used. This data is highly essential for the business. The analyst’s reports on digital marketing data are highly essential for the business to take strategically important decisions.
- Makes the business directly interact with the customer
With the help of digital marketing, a consumer can directly contact the business for his/her queries. Moreover, this communication helps the business to know what exactly the consumer requires. A business’ success or downfall depends on its way of handling such customer engagements. Also, since the results obtained from digital marketing can be extracted and analyzed a business can plan its next set of moves in the right direction. The direct contact between the customer and the business also fosters a business relationship based on trust.
- Targets Mobile Consumer as well
Unlike laptops or PCs, a smartphone is closer to an individual. A smartphone has evolved from a luxury item to an indispensable part of life. More than 80% of people, probably, have access to a smartphone making the segment of mobile consumers highly important for a business. Digital marketing enables the business to target these mobile consumers effectively.
- Enhances the reputation of a business
When a business offers whatever was guaranteed in the promotional advertisement, it helps in to build up a strong relationship between customers and the business. A happy customer is, undoubtedly, the best form of marketing. One happy customer will talk to many others about the quality of your products or services and in turn, bring business for you. Hence, awareness of the business’ brand increases amongst its target consumers sensationalizing the same over the internet.
The importance of reputation has grown enormously in the past few years. Each customer who shops online look for the ratings first. If you are not providing what you are saying or advertising your business is most likely to suffer from low ratings and this, in turn, will drastically reduce the profitability of your business. Also, the reputation of a business depends upon the customer support provided. If a business is not responding to customer emails or messages and not providing an adequate solution to their grievances; the business won’t survive in the long run and ultimately has to shut down.
- Know what your competitor is doing
With the aid of digital marketing tools, it has become possible that a business can track the activities and the marketing strategies of their competitors. This brings in a good amount of learning for the emerging business. The same knowledge can be utilized by the business to alter, change or modify its strategies in accordance with their competitors.
- Higher conversion rate
When using digital marketing for the promotion of products and services, a business is most likely to get a higher conversion rate. Since the promotional advertisement reaches out to a wider audience, more people are likely to get converted into leads, subscribers and ultimately the loyal users of the business’ products or services.
Digital marketing, undoubtedly, has a great future. The above-mentioned advantages make digital marketing highly essential for a business if it is looking to grow and prosper. However, the competition in today’s market is, definitely, more. Hence, each brand needs to think of different modes through which they can make a better impact on their target customers. It is essential for a business, in the present scenario, to create an effective digital marketing strategy which is unique as compared to its competitors and give the customers a compelling reason to opt for the products or services being advertised.