The Internet is rapidly changing the way people do business. Almost 90% of all adults in the US and Canada are on the Internet. Of those people, 97% use the Internet for shopping and doing business.
If you’re a business owner trying to take things to the next level, digital marketing is the way to go.
What Is Digital Marketing?
According to Business Dictionary, digital marketing is “the promotion of products or brands via one or more forms of electronic media”. The definition includes all forms of marketing done via electronic channels such as SMS, websites, and mobile apps.
Over the years, digital marketing has grown in popularity and reach. In 2016, the retail industry spent an estimated $15 billion on digital ads.
Businesses all over the world have gotten good returns on their digital marketing campaigns. In recent years, marketers have been turning from traditional marketing strategies in favor of digital ones. Experts predict that digital marketing spending will continue to increase while spending for traditional marketing will decrease in the coming years.
Looking to switch things up? Here are a few ways digital marketing can help your small business.
1. Less Expensive
Research shows that social media marketing ($2.50) costs significantly less than billboards ($5), radio ($10), newspaper ($16), magazine ($16), television ($28), and direct mail ($57) per thousand impressions. Furthermore, it provides brands with more flexibility in terms of content and distribution.
Through digital marketing, brands can reach their audiences using apps, blogs, videos, images, live broadcasts, podcasts, and several other tools. This provides marketers with a variety of strategies to choose from.
Going online is less expensive than you think. Web hosts like WebsiteSpot offer a number of services such as cheap domain registration, search engine marketing, social media management, and pay per click management.
2. Two-Way Interaction
Digital marketing adds another layer of interaction and engagement. Unlike traditional channels, digital media can create dialogue and spark conversation. It allows consumers to contribute and provide feedback to advertisements and other content. This raises the level of engagement and often results in better communication between brands and consumers.
3. Higher Levels Of Trust
People are far more likely to purchase something from a brand they follow online. Just ask 51% of Facebook users and 64% of Twitter users. In addition, 81% of shoppers do online research before purchasing a product.
A strong online presence builds credibility and trust with your customers and potential customers. Businesses with an official website and verified social media accounts are viewed as more trustworthy than those with no online presence.
4. More Feedback And Insights
Modern software allows websites to track user engagement and behavior in real-time. Tools such as Facebook Analytics and Google Analytics can provide you with a number of metrics from click through rate (CTR), cost per lead, conversion rate, bounce rate, and several others. Having this data at the palm of your hands allows you to adjust your strategy and tweak your content on the fly.
Getting started with digital marketing isn’t at all difficult. A quick search online will give you all the tools you’ll need from cheap domains, plugins, web development tools, and many others. If you’re looking for a cost-efficient way to drive your sales and increase engagement, digital marketing is the way to go!