The Benefits of Digital Marketing
Updated: Jun 15, 2019
Marketing is one of the most essential aspects of running a successful business. One can have the best products and the best services, but your business won’t go far if you are not leveraging the right tools and strategies to connect with your target audience. It’s a given that all successful companies must utilize some form of marketing and advertising. The end goal remains the same; to get the attention of your customers and keep your business on top of their mind at all times. The biggest pain point most businesses deal with is the fact that they do not have the right marketing strategy in place. Let’s dive into the two most commonly talked about strategies among businesses and why one of them might be a better option for you.
Developing the right marketing strategy: Digital marketing vs Traditional marketing
To develop the right marketing strategy for your business, one of the first decisions you’ll have to make is to chose where you want to focus your marketing efforts. Do you want to focus primarily on digital marketing or traditional marketing platforms? Traditional marketing involves the use of dated advertising techniques such as newspaper, radio, television, and magazine ads. Digital marketing, on the other hand, leverages the internet and social media outlets. The largest online marketing/social media marketing platforms are Facebook, Instagram, YouTube, and Google. With everyone hanging out on these platforms, it gives businesses the ability to strategically meet their customer where their attention is, at a fraction of the cost. Overall, your marketing strategy should ensure that you receive the maximum return on your investment. Hence why digital marketing is a more reliable choice.
What are the benefits of digital marketing over traditional marketing?
Your marketing strategy should grab the attention of your target audience and keep them attracted to your business. With over 4.5 billion users, it’s hard to argue that your customer can be found on social media. If you wish to have a wide reach with your marketing efforts, you’ll have to utilize the capabilities of digital marketing. Let’s take a look at the numbers between digital and traditional marketing:
Digital vs traditional marketing: By the numbers
· 72% of customers connect with businesses via social media
· On average, leveraging digital marketing increases conversions by 24%.
· 40% of the businesses that employ digital marketing report a significantly reduced marketing budget
· Businesses using social media marketing report a 280% increase in revenue growth and about 300% increase in ROI.
If the statistics are anything to go by, choosing digital marketing over traditional marketing is an effective and efficient choice.
Digital marketing vs traditional marketing: The Cost
For a long time, businesses have been grappling with how to reduce advertising cost and still have maximum reach. Online advertising now gives them the opportunity to do so. The advertising money invested per result pales in comparison to a the traditional marketing counterpart. According to Demand Metric, content marketing costs 62% less than traditional marketing and it generates three times as many leads.
Most importantly, the ROI of digital marketing is significantly higher. With little investment and the right strategy or team in place, you can achieve measurable results.
Digital marketing vs traditional marketing: The Measurable Results
Digital marketing provides results and campaign updates in real time. One can easily measure important advertising KPI’s (key performance indicators) such as reach, engagement, conversions, etc. With traditional marketing, one does not have this luxury. Measuring results in real time gives you the opportunity to assess and correct your marketing strategy on-demand. By On-demand, I mean you have the ability to simply tweak, ditch, or optimize your current campaign – depending on whether it is producing results or not. With traditional marketing, you’d have to wait weeks to months for sufficient data before you can evaluate your approach. Unfortunately, most business owners find themselves reluctant to change the strategy because of how much they have invested.
Digital marketing vs traditional marketing: The Visibility
The visibility of your digital marketing campaigns is chosen only by you. The amount and the extent of people who see your advertisement is in the users control at all times. I like to have my clients create advertisements that also have an entertaining or educational part to it because those tend to be “shared” among the audience. Once a customer is attracted to your message, they can share it with their network with the simple click of a button. This “share” now automatically puts more eyes on your business and attracts more potential customers…for FREE. Traditional marketing, on the other hand, is typically in one place and cannot be easily shared among friends. Your magazine ad would mainly be visible to those that buy the magazine and your TV ad would only be seen by those watching TV (in hopes that they are not scrolling social media – where you should be). To increase the visibility of your advertisement in traditional marketing, one has to now spend more money for more air time or a larger magazine space.
Digital marketing vs traditional marketing: The Reach
As you now know, digital marketing could help you achieve a wide reach even with a relatively smaller budget. More than the extent of reach however, the quality also counts. With Artificial Intelligence and advanced targeting techniques, digital marketing platforms can help you target the right audience, which leads to the right customers. Whether you are looking to target local or international customers, you can simply get your message in front of them. The possibility of high level targeting is why digital marketing boasts significantly higher conversion rates.
Facebook is the king of digital marketing for small businesses
If you’ve made it this far - you are now wondering, what is the best digital/social media marketing platform to begin marketing your business on. There is no concrete rule when it comes to this, you’ll have to carefully examine the nature of your business and determine where your customers are hanging out. However, with over 2.32 billion monthly users and it’s robust advertising capabilities - you cannot go wrong by choosing Facebook advertising. Till date, Facebook remains by far the largest social media marketing platform in the space. According to Statistica.com, about 85% of digital marketing professionals in the United States use Facebook marketing. If the pros are using it, that should tell you just how powerful and effective Facebook advertising is to your digital marketing efforts.
To learn all the advantages and how you can win with Facebook advertising click below
Consult with an expert
Digital marketing is only cost effective if you have a proper and proven strategy. Many have wasted large amounts of money on ineffective digital/social media marketing campaigns simply due to a lack of strategy. Those are typically the ones that are quick to question the effectiveness of digital marketing.
We understand Facebook advertising and digital marketing as a whole can take years to learn and master. Most business owners don’t have the time or interest to learn, launch, and optimize campaigns themselves but want the benefits, so if you believe that you could be missing out on a lot of opportunity and it could be costing you by not strategically advertising online, I invite you to schedule a free strategy session with us (Link below). We would be more than happy to assess your business and discuss how you can best find success with online advertising.
- Nsenzi Salasini