With the change and evolution of modern technologies, small and medium businesses are doing everything they can to keep up, which can be said true for the rest of human society. Brick-and-mortar businesses are either changing their business models to an online one, or beefing up existing marketing efforts with digital marketing strategies – in an attempt to capture a growing and very lucrative online marketplace.
For it is the process of attracting targeted audiences online that will spell the difference between a successfully thriving business – and a failed one. Even if you receive tons of daily traffic to your website, they would not amount to anything unless they convert to leads or sales. In the digital arena where business and commerce are heading to, Digital Marketing tools and techniques provide business owners the best chances for competition, survival and even business growth.
The following 4 reasons will show you why the use of digital marketing is not only investment-wise decision but also an effective marketing channel that can help you grow your business.
1. Digital Marketing Helps Generate Better Revenues:
Higher conversion rates generated by effective digital marketing techniques will deliver loads of profitable benefits for you and your business in terms of better and higher revenues. Google confirms this in a study with IPSOS Hong Kong, claiming 2.8 times better revenue growth expectancy for companies using digital marketing strategies to those who do not.
With better revenue growth expectancy, small and medium enterprises using digital marketing techniques will have 3.3 times better chances of expanding their workforce and business – opening their doors to better, larger and farther reaching markets both locally and abroad. Google’s Asia-Pacific Head of SME Kevin O’Kane describes the Internet as rocket fuel for growth for small and medium enterprises.
2. Digital Marketing Caters to the Mobile Consumer
Undoubtedly, mobile internet will be the next wave of information dissemination and communication channel, brought about by the rapid proliferation of smartphones, tablets and other internet-enabled devices. These mobile devices have become a central part of Nigerian lives that more than 50% of adults in Nigeria always have their devices within reaching distance.
Now would be the best time to have digital marketing campaigns intended towards mobile consumers, paving the way for them towards achieving better growth and faster expansion. Mobile gadgets have evolved from being mere alternatives for laptops and personal computers, into something that is influencing their purchasing decisions as confirmed by another report from eMarketer
3. Digital Marketing Builds Brand Reputation
The power of digital marketing lies in its ability for attracting targeted traffic. These types of audiences for your content are most likely already ready to know more about your brand, products or services and may be interested enough to purchase what you have to offer. Delivering on what you promised will help you develop a better relationship with your targeted audiences, help them transition into paying customers that will go back and interact with your site some more – on a regular and continuous basis.
This will prove beneficial for your brand reputation, as satisfied customers will most likely tell other people about their experience with your brand, product or service. Your brand reputation will go viral as expected, further opening new doors of opportunities for reaching bigger markets and attain business growth.
4. Digital Marketing Provides better ROI for Your Marketing Investments
With better revenues and better branding, Digital Marketing can provide a better Return of Investments (ROI) than traditional media and marketing channels. With traditional media, the cost is too exorbitant for small and medium enterprises to leverage on, and the results received are somewhat vague and difficult to measure.
Digital Marketing on the other hand can easily be tracked and monitored, with results immediately realized and measured as soon as targeted audiences provide contact information, subscribe to a newsletter or training programme, or make a purchase. The key to success in Digital marketing however, is to generate a steady flow of targeted traffic that converts into sales and leads. The more your business generates this kind of traffic, the faster you can realize your ROI.