Olatunde AdedejiThe success of modern day business is hinged on a well thought-out digital marketing strategy. Having a deep understanding of business environment coupled with effective implementation of marketing tactics is essential for business growth. According to Google, companies using digital marketing strategies have 2.8 times better revenue growth expectancy.
Presently, there is so much cyber noise going on over the Internet. Global consumers are constantly faced with the challenge of choice. This is not because they are indecisive; it is because of multi channels approach available to marketers to convey the same message in different forms on different channels.
Digital marketers continue to use different tactics and strategies to outsmart the competitions, and get their beautiful bride messages to the door steps of customers. Everyone and every item require consumers’ scarce attention.
However, it is noteworthy that those businesses that had strategically invested in digital marketing are showing off on the Internet red carpet. One of the rewards of finding your business on Internet red carpet is consumers’ special attention- Internet most scarce currency, and this is a dream of every entrepreneur.
As we approach 2016, we need to review our digital strategy vis-a-vis overall business strategy. Where do we put more of our marketing budget? Do we spend more on traditional marketing or digital marketing? As for me, traditional marketing is near extinction. You may argue it. Today’s consumers spend more time with their social media than TV or Radio. The positive sentiments for search engine display ads far outweigh billboards. And truthfully, it is easier to measure returns on investment in digital campaign than traditional marketing.
For the doubters, let’s take a critical look at reasons why digital marketing is a better option for your marketing efforts in the year 2016:
Laser Focused Audience Targeting
With digital marketing, you are able to convey your ads message to target audience- either prospects or existing customers; rather than wide, and sometimes uninterested audience traditional marketing targets.
In addition, search engine display ads allow you to target prospects that have already shown interest in a particular product or service. This invariably improves conversion possibility.
Better Returns on Investment for Your Marketing Spending
The cost of marketing on traditional media is too high. Bigger enterprises may not have problem with this high cost. Small and medium businesses want better revenue at low cost. Without mincing words, only an effective digital marketing campaign can make this a reality. It is easy to track and monitor results real time.
When you enjoy steady flow of traffic that converts into leads and sales, you are able to have increase in revenue with better ROI. The year 2016 holds more promise on better tools to measure near accuracy business impact of our spending on various digital channels.
Market Accessibility
Internet has created a leveled playing ground for everyone and every business. The Internet citizens are not restricted by place of birth so are business transactions. We all have access to global consumers. The cost of online presence is as cheap as having a business website, improves your SEO, run SEM campaigns, and creates social media accounts with customer service in mind. With an effective strategy, you can embark on a better business journey as big businesses.
Higher Conversion Rates
Social media ads, search engines display ads, content marketing and a host of other digital marketing components make the sales funnel journey seem effortless, and ensure better conversion. The immediacy nature of digital marketing makes converting leads to customers easier and faster. While some customers take appreciable time to make up minds on the decisions to buy, others buy on impulse. And who wouldn’t want to catch in on this?
Better Relationship Building with Customers
There are more than enough great products and services around us. A top-notch service quality is not even a guarantee your existing customers will still come back to you over and over again. Continuous relationship brings more confidence and trustworthiness. This is the gap social media marketing has bridged for us. You are able to build and nurture relationship, an opportunity to stay almost forever in the hearts of customers.
In conclusion
Today’s global consumers are digital centric, and savvy with the use of technology. We need to market your business where they spending more time without them knowing they are being sold. Digital marketing helps us spread our valuable content in form of blog posts, video, emails, non-marketing social media posts, display ads e.t.c to audience who need it most. As businesspeople, we can measure returns on investment on digital campaign, and at the same time have the opportunity to re-evaluate our marketing strategy at the speed of light in case it is heading south.
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