Billboards were one of the most popular marketing media in the last century. Companies paid a lot of dollars to target strategic locations and to get to it before their competitors. The war over billboards was a real war. The “war” between Audi and BMW some years ago is a case in point. The two German brands used billboards as a means of competition to project their brand as superior. Such cases exemplify the importance that billboards still have even in this century and also prepare us to understand the importance of digital marketing.
But that importance has been diminishing with the advent of the digital age. To illustrate the importance of digital marketing, consider a family of five traveling down a popular road. The father is driving; the mother is checking out new home improvement materials to purchase on Amazon, the elder brother is searching for the best sports shirts seller in their neighborhood; the younger brother is busy playing Lord of the rings, and their sister is busy chatting on Facebook.
They pass that road day in day out and may not even observe that a company has spent thousands of dollars to get a big billboard along the road. Most likely, the next time they want to make a purchase, they will do it online or ask for recommendations from friends and families.
The importance of digital marketing: Its inevitability
The digital age has brought many changes to customer behavior and their buying decision process. A good business enterprise must understand the dynamics and learn to adapt to those dynamics. It is for this reason that every business owner must understand the importance of digital marketing.
More than 4 billion people are using the internet and more than 3 billion use social media. It is expected that by 2019, 62.9% of the world population will have cell phones. There is a massive opening for business enterprises to explore. The digital age has globalized the market and provided massive opportunities for businesses that will catch up with the developments.
Also, people buy a lot of goods and services online using their phones and computers. A lot of time is spent online browsing the net for information, products or just keeping up with friends. The massive interaction over digital technology products emphasizes the importance of digital marketing.
A business that wants to grow cannot and must not ignore the rising trends. In essence, the failure to keep up with the trends has been the downfall of many businesses.
Digital marketing, in a nutshell, is the marketing of products using digital technologies empowered by the digital media. It is marketing done over the digital media. According to marketo.com, “digital marketing refers to advertising delivered through digital channels such as search engines, websites, social media, email, and mobile apps.”
The importance of Digital Marketing: Its advantages
Digital marketing provides many advantages that make it a better marketing option than the traditional marketing media.
- Better return on investment: Digital marketing media provides a better return on investment than traditional marketing platforms
- Measurement of performance: Every digital marketing campaign can be easily tracked and measured. You can easily know if it is succeeding, if not, why not and the steps to be taken for improvements.
- Larger audience reach: You can reach more people through digital means that you can with a billboard, flyer or TV ad.
- Better targeting ability: Digital marketing enables you to customize your target audience in a way that traditional marketing does not.
- Cost savings: As a result of better targeting ability, the cost of marketing reduces significantly.
The importance of digital marketing: Its simplified process
Digital marketing consist of four basic processes:
- Define your target audience: What are the demographics of your target audience? What market segment do you want to target? What is your buyer persona? Who is your ideal customer and what medium do they use for purchase?
- Attract and build a relationship with your target audience: This will involve creating a website, an email list, content marketing, social media business pages, YouTube channels and other platforms where your ideal client is present. Also, it involves a continuous effort to grow your following.
- Sell to your target audience: After building a positive relationship, you present your product as the solution to your target audience’s problems. Also, it involves having a strong value proposition and call to action.
- Measure performance: Using Analytics provided by the different digital marketing platforms to analyze your performance.
Digital marketing must be embraced by businesses that want to prosper in this digital age. We cannot overemphasize the importance of digital marketing. There might still be some advantages to using the traditional means of marketing, however, the large portion of your marketing efforts and budget must go into digital marketing.
Speak to a digital marketing expert to analyze your business and draw up a digital marketing plan that is unique to your business type. Moreover, you can’t afford to miss out on the loads of revenues that companies are making now and then through effective digital marketing strategy.
Are you new to the whole concept of digital marketing? Follow this blog to gain a clear understanding of how the process works.
Have you started implementing digital marketing strategies? Follow this blog to learn how to improve the performance of your strategies?