Today’s tech-savvy customers expect to shop, transact and connect online for all their needs. So, if your business isn’t online, it doesn’t exist. At the same time, it isn’t enough to have a website, blog or Facebook account. The question is whether you are using these digital channels to your business advantage?
If your answer is no, then it is about high time you learn digital marketing. It is a necessary business skill to thrive and survive in the world. Ideally, you should enrol in a digital marketing course to understand the basic concepts and techniques.
Here are some reasons that favour why every business owner should learn digital marketing:
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Cost-Effective
Traditional marketing channels such as television, print and billboard ads are quite costly. You need to find an advertising agency to do the marketing on your behalf. However, in the case of digital marketing, you can do it yourself. You can market your products and services on a very low budget.
Also Read: Kick-Start Your Career With The Best Digital Marketing Course
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Builds Reputation and Credibility
When customers can find your business online, it gives a boost to their trust in you. They think that your business is genuine. You can develop a better relationship with customers with digital marketing. This, in turn, earns your business reputation and credibility. If you are a small business, it can do wonders for you! For larger businesses, it gives a level playing field.
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Customer Engagement
Customer loyalty is paramount to any business. However, new-age customers are fickle-minded. They do not hesitate even a single second to switch to another business if they find a better bargain. The range of products and services available at the click of a button has spoilt the customers for choices. In such a scenario, you need to engage customers continuously and interestingly. Digital marketing is a very useful method to feed information to customers, provide updates, gain feedback and initiate two-way conversations. Your business will always remain on the top of mind of customers!
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Higher Revenue
There are different types of digital marketing tools which you can deploy to generate business leads from different sources. As you know that more the number of leads, higher the chances of conversion are. When you acquire new customers, your business volume also goes up, resulting in higher profits and revenues.
Also Read: Why to Choose a Career in Digital Marketing?
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ROI Measurement
Digital marketing is a sure-fire method to understand how your marketing campaigns are performing. There are various online tools which make it easier to track and measure Return On Investment (ROI) on every cent spent on marketing. With ROI numbers at your fingertips, you can modify your marketing strategy in real-time.
All marketers have one constant question – Is my marketing campaign giving me a positive return on investment? As digital marketing gets bigger in volume, the question of return on investments is becoming more important to digital marketers. With increase in smartphone usage, high internet speed and cheaper data plans, more customers are using the internet. Even the time spent on the internet and the number of activities done on the internet are increasing. It is obvious then that everyone wants to come on the internet and use online marketing to promote their product or service.
Digital marketing has several benefits which can make us say that it gives an assured return on investment compared to other traditional means of marketing.
Firstly, digital marketing allows us to target customers smartly. When a customer searches anything online, by means of keyword marketing, we can put our advertisement in between the search results. This is called Search Engine Marketing.
This is a great method to make a customer see your advertisement at the time when he is looking for that product. The chance of the customer buying that product or at least registering the ad in his mind increases exponentially.
Secondly, digital marketing lets you understand customer feedback accurately. Analytics is a specialized field within digital marketing where the data of all the customer’s who saw your ad or visited your website can be collected. By using different models, marketers can understand what customers like or do not like and plan their marketing campaigns accordingly. This is much better than a traditional marketing method like a billboard or a print ad where there is no direct feedback or dependable data.
Thirdly, digital marketing can help us connect with the customer throughout his buying cycle. For example, when the customer is trying to learn about the product, he searches for it. At that time, we used search engine marketing to show him our products. Then, we can show him display ads whenever he is online browsing through websites. Once he makes the decision to buy our product, we can directly link him through our emails and ads to the e-commerce website portal where he can buy. In the end, if he is a satisfied customer, he can talk positively about the product on social media. The job of the marketer is to know what the goal of his marketing campaign is and choose his promotional channels accordingly.
The marketing investment on different digital marketing channels is different and the digital marketer has to be smart in planning his campaign. A well-executed marketing campaign will help get assured returns on investment, not only in a monetary sense but also through building a better image for the brand which will give results later.
More Information:
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IIM Lucknow Advanced Program In Strategic Management For Business Excellence
IIM KASHIPUR Executive Development Programme In Strategic Marketing Management
