How Does Digital Marketing Affect Businesses?
Digital Marketing and how it works for your business!
Do not deny or ignore the positive results of marketing. Whether it be traditional or digital, marketing is what connects you to your existing and new clients. Get to know the forms of marketing available and use what works for you the best. We have compiled these articles to help you decide the best plan for your business marketing and the benefits.
Digital marketing has forever altered the way companies operate as well as communicate with their customers. The usage of digital marketing strategies also has had a direct impact on profit margins and the ability of a business to grow.
Without combining this advertising style into a broader messaging campaign, a brand strictly limits its ability to be effective. Likewise, a business that doesn’t adopt digital marketing strategies also limits the growth opportunities for its organization.
Through modern technological progress and growth, small and medium-sized enterprises do whatever they can to preserve the reality for the remainder of society.
To capture a growing and highly lucrative Internet marketplace, brick and mortar companies either adapt their company model to an online one or expand established marketing activities through digital marketing strategies.
Digital marketing outsources and innovations give companies the most significant potential for sustainability, survival, and even corporate growth in the digital arena to which they are led.
This marketing assists your business in several ways, such as by providing:
- Measurable ways to track the performance of various strategies and channels
- Actionable data for boosting the performance of strategies, such as an ad campaign
- Cost-effective avenues for earning leads as well as sales
- Low cost of entry for unveiling a strategy or channel
- Perceptive user data to improve targeting and promotional efforts
Digital marketing has forever changed the way companies operate and communicate with their customers.
The use of digital marketing strategies has also directly impacted profit margins and the ability of a business to grow. Without incorporating this advertising style into a broader messaging campaign, a brand severely limits its ability to be successful. A business that doesn’t embrace digital marketing strategies also limits the growth opportunities for its business.
Let’s look at the impact of digital marketing on business growth:
- Find customers that you would have never encountered otherwise via SEO
- Understand what channels drive sales for your company
- Communicate your message and better connect you with both current and prospective customers
- Establish a presence online
- Personalize your brand and control the messaging
- Provide tools that better allow you to target your core customers
- Provide value to your customers and showcase content that matters to them
If you have even a basic understanding of digital marketing, you have heard the phrase and acronym SEO. This abbreviation stands for search engine optimization. The objective of using SEO techniques is to increase where your content is ranked by the search engines. The higher you rank, the better your chances are of getting your website and other content in front of potential customers.
The ranking is critical since 75% of searchers won’t go past the first page of Google search results.
From your perspective, the more traffic that you generate to your website means a chance to increase your business. Each person who arrives at your site that isn’t an existing customer is a chance to grow your database. This visitor could end up joining your email list or making a purchase that day from your eCommerce store.
While the customers you have are already valuable, every brand needs to grow its customer base to survive.
Another reason it is important to increase your SEO is because doing so builds credibility in your site with Google.
The more Google sees your site as an authority on its designated subject matter, the higher they will value it.
This also boosts your chances of being seen by more web browsers. To help with this area, work on creating quality backlinks as one of the ways to increase your authority.
One of the best things about the impact of digital marketing on business growth is that you can see results almost in real-time.
If you launch an ad campaign and see a spike in sales, you can attribute that spike to your campaign. In addition, you can use tools to see which channels and which ads bring you the most traffic. All of these help plan where to make your next ad buy and how much you should invest.
The most important thing you will need to do before starting any marketing campaign is to decide what metrics you want to study and measure.
Once you know the objective, it is easier to create the ad to drive the desired outcome. For example, if you want to drive sales, you want to track how well your ad converts viewers into buyers. If you want to drive brand awareness by getting more followers to your social media channels, observe your numbers after your campaign launches.
3. Instant Communication
Interacting with potential customers today can be like spinning a roulette wheel. The roulette ball represents the company’s marketing message, which will spin and bounce as the wheel turns before finally landing on a space (i.e., a customer). Social media acts as the wheel itself, and it allows companies to interact with people in a public venue, providing a channel to promote products, services, and transparent messages.
But there’s a new player in the game, and businesses need to figure out how to jump on the proverbial boat before it leaves the harbor. According to the Economist, a quarter of all downloaded apps are abandoned after a single-use, with only instant messaging bucking the trend.
One–on-one messaging and private chat groups are on fire right now. For example, the Facebook messenger has 900 million global users, and studies have shown that teenagers now spend more time messaging apps than on actual social networks. To tap into this burgeoning market, savvy companies introduce methods of connecting with and marketing to potential clients through these kinds of applications.
Just how much content is distributed via social media and messaging apps? The answer is huge, so huge that it has been given the term content shock. Every 60 seconds, 3.3 million people make a Facebook post, and 29 million messages are distributed via Whatsapp. That means that marketers have their work cut out if they’re going to get their message and brand noticed by the people using these applications.
Rolex is a great example of a classic brand that uses creativity to get its marketing message across to customers and prospects. As a brand with 112 years of history behind it, this could keep the brand fresh. However, it overcomes this by creating high-quality and appealing product images that have a curated feel and highlight the classic nature and reliability. Using stylish and minimalist images in its photography, videos, and editorial work, it screams class and appeals to customers by highlighting its quality products and timeless tagline.
Modern technology allows marketers to gain a tremendous amount of knowledge about their customers. First, however, companies need to know how, where, and when to use that data. Some of the best ways to achieve this are:
- Knowing which metrics are most important to company success – the key to getting impact from data is knowing what your organization wants to get from it. The key is to be very specific about the business outcomes and build that into how the data is measured and how it impacts the wider business.
- Knowing which customer channels are going to pay off – the array of technologies and channels needs to focus on their customer engagement in a meaningful way. Likes and comments may seem important but what really matters is engagement that builds a relationship between a customer and a brand.
- Having employees with the analytic skills to process data – all the data in the world is useless without the skills in-house to know what to do with it. Insights from data can drive a business and help them understand a consumer’s behavior and pain points.
- Creating personalized and customer-focused content – The colossal amount of data in cyberspace makes it hard for any brand to make a real impact. The key is knowing who the target audience is and creating content that grabs their attention and encourages them to engage.
In today’s digital world, customers want to know about the companies they interact with and purchase from. To build loyalty, brands need to be transparent and demonstrate their personality online and its ethos. This is particularly relevant for food products, with consumers wanting to know exactly what’s in the things they eat.
In a study by Label Insight, only 12% of consumers trust companies when packaging and looking for information on the product elsewhere. However, 67% believe it’s up to the brand to provide them with his information.
For those businesses that are transparent and do communicate openly with customers, the reward is loyalty, with 94% of consumers claiming to stick with a company that offers transparency, and 73% would be willing to pay more for a product that offers it.
This need for transparency in food packaging extends to many aspects of the business, from where how it treats its employees to what it gives back to society and communities. Digital leaders will understand this and ensure that their customers are informed with relevant information, be it good, bad, or ugly.
The impact of digital marketing on traditional marketing has been profound, and rightfully so. The world of digital marketing opens doors that offer a potential client the opportunity to feel as if they are connected with a business, as if the client is a part of it, simply because one sees content from that business online regularly. These types of things entice potential buyers to give products and services a try that they once wouldn’t have even known about. The benefits of digital marketing for the business world are vast and easily outweigh any potential negatives.
Impact of Digital Marketing on Businesses
- More affordable methods of reaching a wider audience. Advertising online is less expensive than print advertising, and more people see it. It’s that simple. Hundreds, or even thousands, can be reached via sponsored posts on various social media sites for a few dollars a pop. It can take several hundred dollars to run a single print ad in a newspaper, and then consideration must be given to whether or not the target demographic is even seeing the ad.
- More of a variety of easily accessible marketing outlets. Digital marketing opens a whole new world of opportunities. There are social media, email campaigns, content marketing, Search Engine Optimization, banner ads, and so much more. All of these functions can easily be taken care of online as well, making the process smoother.
- Everyone’s online, so more people see your ads. Again, it’s that simple. These days, people get everything from their news, their weather, the gossip on Bessie’s latest affair, and even their groceries, all with a few clicks of a mouse or swipes of a finger.
It may be worth considering the positive effect that marketing can have on your business. Should you need assistance in your website marketing efforts, give hughesagency.ca a call today.
Article compiled by hughesagency.ca
Reference Article Links:
- https://digitalschoolofmarketing.co.za/blog/how-does-digital-marketing-affect-the-growth-of-business/ ↑
- https://mediaboom.com/news/the-impact-of-digital-marketing-on-business-growth/ ↑
- https://digitalmarketinginstitute.com/blog/9-ways-digital-has-changed-business-forever ↑
- https://www.techfunnel.com/martech/impact-digital-marketing-business/ ↑