Why Businesses Need to Invest in Digital Marketing
All of us come across numerous ads while browsing Facebook, watching YouTube videos, or playing games on our smartphones. What does it signify? Well, it shows that people are businesses are beginning to understand the importance of digital marketing in today’s technology-crazed world.
Nevertheless, there are still organizations which prefer traditional marketing channels like print, TV, billboards, and even radio. They cite countless reasons for their preference. One must understand that the world has moved on. Traditional marketing channels might be important before, but according to latest news & trends digital marketing is certainly more credible to businesses today.
In this article, we will be discussing why organizations need to invest in digital marketing. It does not matter if you are an online business or a brick and mortar establishment – going digital is in the best interests for all. Now, pay attention and keep reading the article to know more about why you need to invest in digital marketing.
1. It is Cheaper
What is the first purpose of any business? Profit maximization without compromising on customer satisfaction and quality. What if I tell you that digital marketing is cheaper than traditional marketing? I am sure that you knew it before. Ad placements on TVs during prime time or in top newspapers is surely expensive. Online channels are cost-friendly, and also offer more reach.
According to an article published in Forbes, the CPM on Google display networks is just $2.80. For ads on national broadcast, the rate is nearly $32. For cable TV ads, the rate is $17.50. One can do the maths and see for themselves just how cheap digital marketing is, while offering numerous other advantages too.
2. Greater Reach
Traditional marketing is confined to a particular area/region. Digital marketing goes beyond regions, boundaries, and borders. Consider Facebook. While living in India, Canada, you can be interacting with people from the USA. Plus, Facebook has more than 2.5 billion users. That is 2.5 billion you can target with your ads.
Sure, it will certainly require a big budget but that is not the point. The point that I am trying to highlight is that you can target thousands, millions, and even billions of people with your ads. The cost is also reasonable when compared with traditional marketing. Facebook, Twitter, and Google even allow you to select specific areas, demographics for the ads.
The below figure shows the number of users on Facebook over the years (Source: Statista).
3. More Control
Let’s say that you want to target 3 cities – New York, Moscow, and New Delhi but with 1 ad. What will you do? Will you approach a TV channel that broadcasts in all 3 cities? You might find one, but it will certainly be quite expensive. On the other hand, you can select Facebook or Twitter.
While selecting the location for the ad, you can choose the three desired cities as shown in the screenshot below. You can even select specific areas within these cities too if you plan to target a very specific niche.
You can even select the desired age for the target audience along with their interests and behaviour. This ensures that only the right people see the ad. For example, consider that you are business that sells fashion items. Now, you do not want to be targeting people that have no interest in such items. So, you can select ‘Fashion’ as an interest as shown below in the picture.
Can you get feedback from ads placed on the TV, radio, or newspaper? 9 times out of 10 no. The remaining 1 is available to mega corporations with abundant resources. But why waste your resources on getting feedback when you can get it for free? Digital channels like Facebook, Twitter, YouTube, Instagram, Snapchat and even blogs allow you to get feedback instantly.
If you have recently launched a new ad detailing a new product or service, look for comments on your social media pages. In most cases, your customers will be sharing what they like or do not like about your brand. You can use this free but vital information to improve your brand.
Likewise, you can surf the web pages of your competitors and gain valuable information from there. See, what they are doing that drives customers towards them. What works for them and what type of content they are using to target customers. You can incorporate this information into your content strategy for better results.
Customers always like brands that listen to them and engage with them. This personal interaction with customers makes them feel appreciated and valued. In traditional marketing, you cannot engage with your customers. On the other hand, a simple reply to a customer’s comment on your social media page will go a long way in improving your brand image & standing with customers. Plus, through word of mouth of customers, you can reach even more potential customers.
Consumer trends keep on changing each passing year. Today, before buying a product or service, people tend to search the brand online. Now, ask yourself one simple question – would you buy from a brand that has no website or social media presence? Also, would you buy from a brand that’s website or social media pages have not been updated in a long time?
The most common answer is ‘No’. The reason is that we tend to think of such brands as shady or as frauds. Therefore, we only tend to go towards those brands that have updated & well-maintained online presence. Hence, it is one more reason to invest in digital marketing in these days.
This concludes our article today. We hope that you found it informative and we managed to convince you to invest in digital marketing. Sure, traditional marketing might have given you the edge over your competitors before or allowed you to maximize your reach. But all that was in the past. Today, the world is digital. So, you must go digital as well!
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