We see companies at their absolute downfall because a rival is undercutting them on every platform, and they can’t match up. If you want to start beating your competitors successfully and you will need to have a very good competitive strategy in place, and one the most important point which most of the Business/Startups/Entrepreneur will miss out is with not going with Digital Marketing for their brand or company.
When it comes to Digital Marketing, many companies are hesitant to put some of their budget toward online advertising. Whether they think it’s a waste of money or just isn’t sure about the returns, they will often avoid advertising online in favor of other traditional marketing strategies.
According to current digital marketing statistics, one of the key reasons online marketing is taking over traditional marketing channels is because they allow businesses to interact with their target audience (actual audience) in real-time and engage with them in a meaningful way.
That being said, it’s important to note that we’re more than halfway through 2019 and our world is more digitized than ever before. The digital marketing industry continues to thrive at a large scale, with artificial intelligence and voice search changing its landscape dramatically.
Digital marketing research shows that only 61% of the global professionals believe their marketing efforts are truly effective. Many of them are optimistic about search engine optimization, putting it as their top priority this year.
The social media platforms like Facebook, Instagram, LinkedIn, Twitter, etc has turned into a key part of marketing. When you consider the 2.23 billion active Facebook users monthly and 336 million active users on Twitter monthly with these social media digital marketing stats, investing a few hours per week may turn out to be game-changing for you to build your brand.
Whats is Digital Marketing?
Digital marketing is vital for the modern technology era of businesses because the internet plays a major role in how consumers make their purchasing decisions. The internet also has an impact on how consumers actually purchase their products and services. This makes it important for businesses to not only be present online but to boost visibility as much as possible in all the major platforms.
Types of Digital Marketing Platforms :
- Search engine optimization
- Search engine marketing (SEM)
- Social media marketing (SMM)
- Content marketing
- Email marketing
- Online advertising
- Landing page marketing
- Influencer Marketing
- Mobile Marketing
- Video Marketing
- Affiliate marketing
- Viral marketing
The benefits of digital marketing include:
- Global reach – a website allows you to explore new markets and trade globally with only a small investment.
- Lower cost – When you compare digital marketing to traditional marketing, its always digital marketing has the upper hand with cost-effective and low budgets, as planned and effectively targeted marketing strategy we can reach the right customers at a much lower cost than traditional marketing methods.
- Trackable & measurable results – we can measure your online marketing results with web analytics data and other various online metric tools which makes it easier to establish how effective your campaign strategy has been. You can get detailed information about how customers use your website or respond to your advertising. Web analytics can be set up to show you exactly how much money you make from each digital tactic.
- Personalization – Your customers always like to be treated special, so if the customer database info is linked to your website, then whenever that customer visits the site, you can greet them with targeted special offers. The more they buy from you, the more you can refine your customer profile and market effectively to them.
- Customer loyalty – if the brand is available on social media platforms and managed it carefully, you can build customer loyalty and create a reputation for being easy to engage and reach out to the company.
- Improved conversion percentage – if you have a website, then your potential customers are only a few clicks away from completing a purchase on your website. Unlike other media that require people to get up and make a phone call, or go to a shop, digital marketing can be seamless and immediate.
- One of the greatest advantages of digital marketing is that it allows you to target your ideal buyers
- The ability to interact with your visitors and learn exactly what they are actually looking for
- The ability to reach a global marketplace
- You can save money and reach more customers for less money than traditional marketing methods
- Get to know your audience and allow them to know more about you personally which can help to create brand loyalty
- You can track real-time responses to your marketing efforts.
Together, all of these aspects of digital marketing have the potential to add up to more sales.
Digital Marketing vs Traditional Marketing
Traditional marketing may have evolved over the past few years, but the main fundamental aspects remain the same. The selling techniques that we use today mainly depend on the infamous 4 P’s of marketing: Product, Price, Place, and Promotion.
Every successful business knows how integral it to create a proper sales funnel. By leveraging the 4 P’s of marketing, a business can actually lead its prospects and customers through any sales funnel and see favorable results.
Traditional Marketing: Downside of Going Traditional
Digital Marketing :
The reason why digital marketing is crucial for a business today’s era is that the Internet is becoming one of the most used tools. More and more people are logging and dependent on the web to carry out their day to day activities, which includes purchasing goods, services, advice, solutions, information, etc..
If you look at the past decade you’ll see that digital marketing has grown viral. So when it comes to digital marketing vs traditional marketing, it’s very clear that that digital as a definite edge.
As technology grows and the new digital ideas are brought to life day to day, the digital marketing world grows with the flow. One of the reasons why it continues to deliver results is because it is a form of inbound marketing. Which means, instead of you going out there to find people, they find you. Whether it is running an advertisement on Google or creating marketing related content for your blog, it’s all about attracting your target audience and spreading awareness.
Here are some more stats to help you understand the growth and prominence of digital marketing…
- More than 80% of shoppers/buyers do their research online before investing in a product/service.
- Almost 60% of U.S. adults use Facebook on a regular basis.
- 94% of Business to Business marketers are actively using LinkedIn for marketing.
- Mobile will be accounting for over 70% of digital ad spend by 2020.
- 90% of B2C businesses report social media as being the most effective content marketing strategy.
By now you’ve probably heard the hype – digital marketing is in serious demand and the digital marketing skills gap is set to widen, and all major brands are concentrating more of a focus on digital marketing than ever before.
If you have been avoiding digital marketing, is it because you think you are simply not ready? or Do you think you just need some time to get established and then you will figure out the digital marketing angle?
The problem with this approach is that your customers and potential customers are already searching for your products/services online. Right now. Today. There’s a good chance they might already be looking for a business like yours, but if they can’t find you easily, they are probably going to choose someone else, who is available on the internet
This is how people do business today. When someone has an interest in your business, whether it is in your niche in general or if they are curious about your brand, the first thing they are going to do is research online and see what they can find out about you.
Digital Marketing is the way to overcome your competitors successfully