With the advent of technology and the internet, things have changed. According to Retail Dive, about 87 per cent of consumers begin searching for what to buy online. This is a big market share and one of the reasons why you should invest in digital marketing. However, despite a huge move toward a more digitized world and online marketing, many companies are still in the dark about digital marketing. With everyone stuck at home due to this pandemic, they are looking online to get everything they need. Never has a digital marketing strategy been more important.
What is a Digital Marketing Strategy?
Digital marketing can be defined as the process of advertising and marketing your company’s products or services via digital channels, including social media, email marketing, search engine optimization, and so on. A digital marketing strategy, therefore, is a plan for achieving a specific market-related goal and can contain numerous digital campaigns. Digital marketing campaigns are the building blocks of your overall marketing strategy. For instance, you may want to generate more leads through social media in Adelaide, so you might run a digital marketing campaign on Facebook, Twitter, or Instagram by sharing images, videos, and other content that might generate more leads. Here are several compelling reasons why you need to invest in digital marketing.
1. To Help You Learn More About Your Target Market
A big challenge for businesses is attracting, capturing, and converting leads into clients. To do this, you have to identify your ideal market, know what they need, and fulfill those demands. An effective digital marketing in Adelaide, for instance, can help you learn the habits of local online clients so you can easily identify your target market. With digital marketing tools such as Google Analytics in hand, you can learn what your target audience wants and needs by analyzing what they are searching for, their spending habits, etc. This information will help inform your next course of action and how you will approach them with a warm, personalized add that will eventually convert them into buying clients. Alternatively, you can use this information to create client personas which allow you to create highly personalized and targeted marketing campaigns for specific types or groups of people such as new moms, car enthusiast, etc., and eventually, convert them into buying customers.
2. Helps Build Lasting Client Relationships
Return customers are the lifeblood of a company’s clientele base; without them, most businesses would have a hard time staying open. With over half a million new businesses opening every month, its a lot easier to lose customers than it was 20 years ago. However, if you know your target clientele well, you can easily keep them engaged and push your competitors away. Another challenge many companies faced in 2019 was retaining or re-engaging clients. Due to the lockdown, most people are using the internet daily to look for their favourite brands. This means that increasing digital marketing efforts in 2020 will definitely pay off.
3. It Offers Multiple Channels to Boost Conversions
About 3.2 billion people use various social media platforms every day, with the average user spending about two and a half hours a day on social media. Facebook, Twitter, Reddit, and LinkedIn are market leaders, with LinkedIn offering 80 per cent of all social media business to business leads. About 54 per cent of buyers search social media for product review and customer feedback before purchasing. As you can see, most of your potential customers are online. Email marketing SEO, Google Ads, social media marketing, etc., are some of the channels you have access to through digital marketing. Each channel requires a different approach, but once you create a digital marketing strategy, you can easily adjust it to suit the different channels and audiences.
4. It’s More Affordable than Traditional Marketing Techniques
Traditional marketing techniques such as radio, TV, or billboard ads are a bit pricey, and not everyone can afford them. However, digital marketing strategies are a lot cheaper in comparison. Take email marketing; for example, it has a great return on investment. In 2018 the cost per lead for email marketing was about $50, online re-targeting costs about $30. Compare this to television or radio advertising that can cost about $600 or trade shows that cost $800. Social media and organic search engine optimization are free. It’s a no brainer.
The ever-changing nature of online marketing serves as a reminder that you need a marketing strategy suited to your business and goals. Digital marketing is an ever-evolving scope and if you don’t adapt, your business will get left behind. The points highlighted above are but a few reasons why you need a digital strategy in 2020.