The Role of Digital Marketing in Business Growth

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Digital Marketing, over the years, has gained massive popularity. The role of digital marketing in business growth is crucial in 2021.

It has become a buzzword among job seekers and businesses. Job seekers are looking at digital marketing in hopes of getting well-paying jobs. And for companies, digital marketing means more leads, sales, and customers.

Ignoring digital marketing in 2021 is like ignoring business growth. Digital Marketing allows businesses to spend less and still get more leads and customers.

Traditional advertising is often more expensive. And audience targeting does not exist in the world of conventional advertising. Collecting audience feedback is even more challenging in conventional advertising.

Comparing digital marketing with offline advertising does not make sense, at least not in 2021. Everyone knows digital marketing will come out as a winner of the comparison. Digital Marketing has countless advantages over offline marketing.

While most businesses are already exploiting digital marketing for business growth, some companies and individuals are skeptical about digital marketing powers. If you are one of them, you should keep reading.

In this post, I will tell you about the role of digital marketing in business growth. Or simply put, why you should start using digital marketing today.

Why Online Marketing?

As said earlier, digitally marketing your business comes with lots of advantages. In a nutshell, digital marketing can supply a company with more brand awareness, leads, and ultimately sales.

Let’s look at some intriguing statistics that will help you comprehend the need for digital marketing.

Researchers say marketing leaders will spend 75% of their marketing budget solely on digital marketing by 2021.

We are already spending a lot on digital marketing.

Approx $350 billion is spent each year on online marketing.

And this money spent on digital marketing is not getting wasted. The evidence is increasing the popularity of digital marketing.

With more than half of the world’s population using the Internet (approx 4.338 billion), online marketing is a perfect strategy to reach millions or even billions of potential customers.

The recent COVID-19 pandemic has led to a boost in e-commerce by 25-35%.

It is not a temporary surge in sales but a permanent indication of online selling’s promising future. Down are some major role of digital marketing in business growth.

Digital Marketing builds brand awareness

The ultimate aim of marketing is to get more sales and customers. But for this, the first step is reaching out to your potential customers and making people know your business exists.

Digital Marketing is a very effective way of building brand awareness. Given that billions of people use the Internet, making people know about your brand has never been easier.

When you use traditional or offline advertising, your reach is limited. There is only a certain number of people you could reach.

It is the case even with Television ads but not with digital marketing. With digital marketing, you can reach millions of your potential customers no matter where they reside.

For businesses that could sell to international clients, digital marketing is the perfect strategy to acquire new global clients.

 

Digital Marketing helps small businesses compete with big brands

Gone are the days when big companies with large budgets ruled the market, and all the fat clients and customers. It is the new age of marketing, where even small businesses can win big clients and customers. And Digital marketing is the key to doing so.

Unlike earlier, you do not need millions of dollars to reach millions of people. All you need is an ROI focussed and highly targeted digital marketing strategy.

I have seen it many times- small sites outranking large corporations on the Google search results and consequently driving a lot of sales. Here at DoneDigital, we have helped dozens of clients outrank big corporations on SERP.

Digital marketing builds trust

Searching for businesses online is a common thing these days.

Many people tend to look at a company as inferior if they do not have a web and social media presence. It was not always the same. But today, having a substantial web presence strengthens your brand’s perceived value and loyalty.

The better your brand looks on the Internet, the more customers it will attract.

With digital marketing, it’s so much easier to share client testimonials, case studies, and other things to boost your product. This way, digital marketing helps you build trust in the eyes of your potential customers. Traditional marketing is not as effective when it comes to selling trust.

Digital Marketing eliminates wasted exposure and increases ROI

Suppose you wish to advertise your new restaurant. When using traditional or offline advertising, you will be using pamphlets. (Using TV ads for local and small businesses is not the best strategy.)

Printing those pamphlets, distributing those pamphlets, and then measuring the ROI is a severe headache. And if you are a small business owner, you can’t afford to invest so much when you are not sure if it will work.

Digital marketing comes to your rescue, and now you could reach your target audience in your budget. And you will be sure it’s going to work because there is no wasted exposure; only the people interested in your business will see your ad.

This way, digital marketing enhances your business ROI. Digital marketing lets you use videos, blogs, images for marketing effectively. And ultimately, making customers interested in your business gets easier (more conversions = more ROI).

 

Digital Marketing lets you be analytical and make better decisions

Many times, you need to make tough marketing decisions such as-
Is my marketing efforts driving my results?
Am I spending too much on a single sale and losing my profit margin?
How many people are seeing my ad, and is it optimized for conversions?
How can I receive feedback from my potential customers and make my product better?
Am I trying to sell a product that has no demand?

When using traditional advertising, getting answers to these critical questions is more challenging than climbing Everest. Even if you somehow get some of the answers, they will be somewhat inaccurate.

How would you measure how many people are seeing your pamphlets or listening to your radio ad?

How would you know if the leads you are getting are a result of the radio ad or the leaflets you distributed last week? You can ask the leads where they get the information from about your business, but it is some hard work. Also, it does not always look nice to question potential customers (when talking to leads for the first time, it is best to talk about the lead’s interest, not the business).

How will you get feedback if your pamphlet or billboard is good enough to catch eyeballs? You know what, offline advertising makes it so tough to get feedback from the audience.

Digital marketing has accurate answers to all of these questions. With digital marketing, you can be sure of which marketing platform drives you the most sales. You would know for sure what platform is turning out to be a waste of money and time.

You will be able to track your return on ad spend or the return on total marketing budget, What are the conversion rates of your and How many people are seeing it and not taking action.

The role of digital marketing is an important one even when it comes to making better business decisions.

Digital marketing is an analytical domain, so you get all the answers in facts and figures that you could trust. As a result, you make better marketing decisions and keep improving.

 

Client or customer retention

Digital marketing helps retain clients and customers more effectively.

When your customers are connected with you on social media or subscribed to your newsletter, you will continuously grab their attention and maintain your brand loyalty. Ultimately, it will lead to better client retention rates.

It is a vast advantage but not so many people talk about it. An existing customer is ten times more profitable than a new customer.,

 

Digital Marketing saves businesses their advertising cost

Digital Marketing is a cost-effective way of marketing. When you work with an excellent digital marketing agency like us, we get you the best results in the least marketing spend.

 

Final Words

No matter how big or small your business is, digital marketing is a boon for everyone. The role of digital marketing in your business growth could be critical.

Digital marketing is cheaper than offline marketing, it is more effective, and the most important of all- your customers are online. Ignoring online marketing will lead to your competitors getting an unfair competitive advantage over you.

There are several types of online marketing strategies you could start applying now.

For local businesses, social media and local SEO is a great way to get started.

This guide on getting more followers on Instagram will help you get started. – Instagram Growth Secrets.

Digital marketing is vital for business success. If you need any help regarding your digital marketing strategy, you can reach out to us anytime.

Thanks for reading.