Till today, the true ROI of digital marketing still remains doubtful in the mind of business owners.
Whether you are running a big corporate firm or a start-up, the risk is the same. If it doesn’t work, it will burn out cash from your revenue but simultaneously, if it works out it can 2x or 4x or even 10x the revenue for your brand.
Digital marketing carries ample platform option for businesses to carry out their marketing activities. And mostly one doesn’t fit all industry.
So, it becomes very vital for the business owners or the marketers to choose the platform that has either worked for the business in the same industry or do a research of the perspective audience well and then start their marketing operations.
With the growth and the changing pace of the digital marketing industry, one has to really stay updated so that he can best utilise the platform.
or else, it would be like you would be complaining that this platform is not for your business.
Here in this article, I have detailed a short insight that will help you to take your decision.
If you want to know why you should go for digital marketing for your business and how it can shape your brand by increasing visibility that leads to profitability then I suggest reading this article with acute attention.
Here you will learn
- The definition
- The importance of taking business digital
- The platform that is good to start with
- The benefit of using the platform
- The objective that you can target while going online
- Examples of business that succeeded in achieving great results.
- And finally, how to start!
Digital marketing can make your brand reach millions in just one click.
It is that tool which has made earning possible even by sitting at one corner of the city.
It is that platform that has changed the way the world does business. With easy accessibility and pocket-friendly internet packs. People are enjoying this new addiction.
The research by statista shows (as of April 2020) there are almost 4.57 billion active internet users worldwide, encompassing 59 percent of the global population.
China, India and the United States rank ahead of all other countries in terms of internet users.
The best part is, it has given access to business owners to trade worldwide.
From big e-commerce giants to small and medium businesses, all are benefiting the most from this new technology.
And the most surprising factor is the growth seen in rural areas where the rate of digital consumption is high.
The various social platforms like TikTok, facebook, Instagram have seen a rise in influencers who are actively gaining followers by showcasing their talent.
What is Digital marketing?
It is the electronic medium by which businesses can sell their products or services online by having just a laptop or an internet connection.
Why is it vital for businesses to start now?
With almost every company trying their hands on having a digital presence, it has become a necessity to go online.
To start with, you can have a website that sells for you even if you are sleeping.
Or if you want to build a community first then, a social media presence would be a great deal to start with.
Today’s consumers want to know more about a product or service before purchasing.
They want to aware themselves of the prevailing price, the product description, the reviews etc and then plan a purchase
And the easiest medium to get this information is online.
And imagine, if you are not available online to the hungry buyers who are actively looking for a solution to their problems but your competitor is available with all digital assets then you are losing a great share of the market.
What are the platforms that are used for Digital Marketing?
These are great to start with if you are starting new and if done perfectly it can get you buyers at a price cheaper than hiring a salesperson.
How can businesses utilise this for their benefit?
Let’s understand this with the help of typical advertising example.
This is an advertisement for a boutique.
The cost of advertising on the front page of newspaper would cost somewhat in lakhs.
Let’s assume you got it published only in Delhi city and the total subscriber to this newspaper stands at say 5 lakhs only.
From this investment, can you estimate the number of people viewed or engaged with your ad?
Or can you judge, if it reached the targeted demographic you wanted to target?
Or, if it can remind the reader that there is an interesting product or offer that they can utilise for their benefit.
Well, with digital marketing you can do it all and much more.
You can utilise social media to reach the audience who do not even know that they have a problem for which you are the solution that they can land.
You can reach people who are looking for competitors’ products but didn’t know that you had a much better price with better quality for them.
Digital marketing is that tool which you can utilise to make people fall for your brand and always maintain loyalty for your brand.
And the best part is, businesses can experiment often with a limited budget and find out what works out good for their brand.
What are the objectives that can be attained through the digital marketing of businesses?
Through online presence, businesses can attain the following objective:
- Raise awareness for their brands
- Increase the product or service visibility
- Get high converting Customers ( or leads ) that are ready to purchase
- Sell products worldwide
- Building a community and raising advocacy
- Increase sales
Okay! Now as I have understood what digital marketing is, what should I do?
Think of your business goal which is urgent and you want to get it first.
Understand which platforms suit the best and what results can it get.
Get in touch with professionals who understand the platform well and can get the desired goal that you wanted to achieve.
P.S. Through Digital marketing you can achieve the Best ROI, just make sure to choose a good professional and have clear goals in mind with the right tracking method.