With technology quickly taking over every aspect of society, more and more businesses are embracing the digital revolution. With the help of digital, costs have been cut and time has been saved, which is why it’s no surprise that where digital transformation is possible, business owners are keen to jump on board. And marketing is certainly no exception.
Of course, there will always be a place for traditional channels – there’s no doubting their value – however, thanks to digital marketing, more businesses can now promote their products and services effectively and achieve the results they desire. Now, you may be wondering: “How exactly can digital marketing add value to my business?” And there are countless ways it can: so, today we will be exploring 5 ways digital marketing can bring value to your business.
If you are looking for a cost-effective way to obtain leads and get your business noticed, digital marketing is the solution for you. Unlike traditional marketing, which often requires large investments to secure top spots on television, radio and other channels, digital marketing is accessible by all and allows you to reach global audiences efficiently and for a fraction of the cost of traditional marketing. And naturally, with acquisition costs lowering, your profit will increase, too.
Digital marketing creates opportunities for you to engage with your audience at every stage in their buying journey, and the more you engage with them, the better you can get to know them. This will significantly benefit your business as you will be able to gauge a deeper understanding of their preferences, wants and needs and tailor your solutions to fit their specific pain points.
And this data isn’t just great for attracting new customers; it can help improve your brand loyalty, too. The better your understanding of your customers, the more personalised you can make your communications and the stronger your relationships will become.
Naturally, thanks to the global reach of digital marketing, your brand awareness will increase as you are exposed to a larger audience (and for a fraction of the cost of traditional marketing). Along with this, if you have a strong digital presence across a range of channels, brand recognition will also rise as you are given more exposure – a win-win, right?
Another way digital marketing can significantly benefit your business is by allowing you to identify successful and underperforming areas within your marketing strategy and use this data to inform decisions. Think about it: if you place an ad in a magazine, how will you know how many people have seen it? Or exactly who has seen? Or even who has taken action as a direct result?
With digital marketing, you can obtain detailed insights into every campaign and gather results in real-time, allowing you to evaluate how and where to best invest your budget.
Of course, we had to save the best until last. Thanks to their low costs and highly effective targeting capabilities, digital marketing channels boast some of the highest ROIs the industry has ever seen, including:
- Email marketing: ROI can be as high as 4400% (nope, that’s not a typo!)
- Blogging: businesses with an online blog are 13 times more likely to see a positive ROI
- Video marketing: 89% of marketers say video has a positive effect on ROI
- Influencer marketing: businesses generate, on average, $5.20 for every $1 invested
Whilst we have explored several ways digital marketing can add value to your business, this list is simply scratching the surface. If you want to experience the benefits of digital marketing first-hand, contact us today for a free consultation to see how we can help you transform your business.