We live in a digital world and need to invest in new ways of keeping up with the world. Businesses are no exception. They, too, need to go digital. Most companies have gone digital, i.e., they have set up their own websites, Facebook pages, and other digital channels. However, they fail to realise that they need to change their way of marketing as well.
Tech experts, marketing professionals, and advertisers all agree that the traditional forms of advertising are becoming obsolete. Businesses need to invest in digital marketing. Otherwise, they will lose their customers to competitors. This article will discuss why investing in digital forms of advertising is essential to businesses today.
It does not matter if you are offering services, products, or a combination of both. Even businesses in the construction sector are now going digital. The following points will surely convince you why, as a business, you need to invest in digital marketing.
It is Cheaper than Traditional Marketing
Traditional forms of advertisement include flyers, print media, TV ads, radio etc. Although brochures and print media are relatively cheaper than TV ads, they have little reach. On the other hand, digital marketing methods are quite inexpensive. Plus, there are various platforms available. You can select Facebook Ads, Google AdWords, or Content Marketing.
According to an article published in Forbes, the average Cost per Thousand Impressions (CPM) was $17.50 for Cable TV ads and nearly $32 in for the national broadcast. The average CPM on Google Display Networks was just $2.80. It shows just how inexpensive digital marketing is when compared with traditional.
You Can Select Your Audience
When you are running an ad on TV or radio, you do not get to control the target audience. For example, if 1,000 people come across the ad, only 100 people might be considered the target audience. On the other hand, in digital platforms, you can select the audience, and the ad will only be shown to them. Hence, if 1,000 people watch the ad, all of them are the target audience.
Facebook Ad Manager, Google AdWords, and other digital platforms let you select the audience before you set up ads. These platforms keep a lot of information on their users, which is like a gold mine for advertisers and businesses. You can even select the interests, age groups while setting up the target audience. The FigureFigure below shows Facebook’s Ad Manager, in which you can choose the target audience.
Besides being cheaper and allowing you to handpick your target audience, digital platforms have more reach as well. Digital platforms like Facebook, Twitter, Instagram, YouTube have millions and billions of active users. From a business perspective, it represents prospective customers. The below FigureFigure represents Facebook users over the years. There is no traditional marketing platform which can guarantee such a high reach.
Engaging with Customers
One of the best ways to build brand credibility and rapport with your customers is by engaging with them. Traditional advertising does not allow you to engage with customers in a manner that helps build relationships. On the other hand, you can reply to a customer’s Facebook comment, Tweet, or YouTube video. This engagement with clients can help brands establish a good relationship.
It can also increase customer loyalty. If your favourite brand regularly engages with you on different social media channels, you will feel appreciated. Such customers are more likely to recommend the brand to others as well. This can increase the customer base due to the positive impact of word of mouth.
The ongoing consumer trends represent a shift to online buying. People are even buying their groceries and automobiles online. For businesses, this represents another reason to go online. But just having a website is not enough. You need to market your e-commerce store, website, Facebook page or any other platform which you use to sell your services/products.
This is where digital marketing comes into play. You can use digital ads to increase the traffic to your website. An increase in traffic will likely increase your sales too. However, you must make sure that the platform is optimised according to SEO standards. Google and other search engines will not rank your website if it is not optimised correctly.
This concludes our article today. We hope that the above points convince you to invest in digital marketing to grow your business. Let us know what you think about the information in the comments section below.