Digital Marketing is Crucial to Business Growth

digital marketing

So, do you know what position digital marketing plays in your company? Is there a distinction between companies that survive and those that thrive? Digital marketing tactics may make or kill a company.

It is great when a firm survives, does well, and breaks even; business owners can feel relieved, and employees are spared from layoffs. And when the business is developing, it is even better since profits continue to climb by leaps and bounds, and it all feels so good to be in charge of a thriving business, doesn’t it?

So the question is, how can you make your firm not just survive but thrive in today’s business world? It’s a complicated topic because many elements contribute to business success, and one of the most significant right now is digital marketing.

In today’s world, you must harness the power of the Internet to achieve critical business objectives, and digital marketing assists you. Do you already have a website (blog entries and web pages) and social media accounts such as Facebook, Instagram, and others? If you do not have an internet presence, now is the time to start, and we will explain why below.

So, what is digital marketing? What’s the big deal about it? Why is it important for your business, and why is it the key now to the growth of any firm in today’s world?

We hope that at the end of this topic, you will have a better understanding of digital marketing and will know how to better harness and use the power of the Internet to take your business to the next level and grow.

What exactly is digital marketing?

It’s not that difficult; you use your smartphones, laptop, desktop, and tablet daily for pleasure, work, and so on. Moreover, every day, businesses use digital marketing to get their attention. Nonetheless, we will break it down for you to comprehend it better.

Digital marketing, according to HubSpot, is any marketing endeavor that involves the use of the Internet or any electronic device. One of my favorite and most straightforward definitions of digital marketing is any online advertising of a business, product, service, or brand.

If marketing exists on the Internet, it is referred to as digital marketing. That is, social media marketing, content marketing, and SEO are all part of digital marketing.

Because the world and people are all moving online, digital marketing has grown significantly over the last ten years.

By the time you read this, more than half of the world’s population has gone online in the year 2017. For the first time, a quarter of a billion people connected to the Internet. The numbers will continue to rise until they reach about 100 percent of the world’s population. Social media accounts for 55% of the world’s population, with 4.39 billion users in 2019, a 366 million rise from 2018.

Tech reviews include statistics that show an increase in the number of time individuals spend using and relying on technological devices. In addition, for the fourth year, Filipinos have ranked first in terms of social media time spent, followed by Indonesians, Thais, and Malaysians.

Filipinos are now spending an average of 4 hours and 12 minutes per day, a 15-minute rise over last year’s figures. In addition, people are spending an increasing amount of time on social media, according to trends.

You know that the Internet is expanding in popularity; therefore, as a business owner, you have no choice but to use it as soon as possible. However, you must understand the role of digital marketing in your business, or you will be left behind.

According to the graph below, 57 percent of businesses obtain new consumers through their blogs, 62 percent get customers from LinkedIn, 52 percent get customers from Facebook, and more than 44 percent get severe intense traffic from Twitter.

The function of digital marketing

You don’t have to call your clients into your stores like the previous brick-and-mortar businesses; instead, get them to come to you via search engines or go directly to them using social media marketing.

A substantial number of people currently spend approximately 30 minutes on social media sites such as Facebook; when totaled over a lifetime, this amounts to about two years of each person’s life. These 30 minutes can be used to display and emphasize your business more than ever before.

Companies that developed a brilliant digital marketing strategy may expect a threefold increase in income. According to Every Channel Marketing, companies that have adopted digital marketing into their organization have increased their operations, workforce sizes, and businesses by more than 3.3 times.

In conclusion, digital marketing is crucial, and your firm will not expand without it in the present era.

Digital marketing is ideal for all types of businesses.

If your company does not have a presence on the Internet, it will go out of business.

Microsoft co-founder Bill Gates

When you are a new company or a small firm, you may not have the time, money, or manpower to invest in traditional marketing strategies at first. This is acceptable in today’s world; all you need is information and a good action plan to execute your digital marketing strategy correctly.

Size is no longer an issue.

Those were the days when it was assumed that only people with a lot of money had the budget and resources to start a business. The invention of the Internet leveled the playing field and, in fact, leveled the entire entrepreneurial playground. Companies with the most outstanding products and services win it all more than ever before, and the internet areas are teeming with competitors.

So, who is the victor? Everyone! Customers and company owners alike. Digital marketing has leveled the playing field, allowing small and medium-sized firms to compete with larger, more established brands in the market.

Having physical businesses is no longer a limitation since you can reach clients worldwide with online marketing (digital marketing). Based on their plans, all types of organizations (small, medium, and large) can now choose to target specific audiences or widen their reach.

Anyone prepared to work hard and has what it takes to succeed has an equal opportunity in digital marketing. Small businesses may now easily penetrate and compete in large markets, giving them sufficient possibilities to chase and keep up with their larger counterparts.

One excellent example is Uber, a modest firm that began operations in San Francisco and now provides 5.5 million rides to the general public daily. And how did the corporation accomplish this? Again, it comes down to its excellent digital marketing strategies.

Online reviews continue to rise, and suggestions now play a significant role in consumer decisions. Uber recognizes this and capitalizes on it by providing free rides to those who exchange referral codes with their friends.

Uber’s engaging online presence with “Drive when you want, make what you need” is catchy to his millennial audiences and is very consumer-focused; his client base swiftly rose as more people appreciated his fun and catchy social media posts.

Have you checked out Uber’s website or app? Whether viewed on a smartphone or a PC, it captivates all types of consumers with its user-friendly platform.

In short, Uber has done an excellent job with digital marketing, which has helped them become the second-largest venture capital-backed firm after Facebook, surpassing the $50 billion revenue mark.

Today, digital marketing is still assisting several organizations, such as Uber, grow by leaps and bounds. Please take a look at its main competitor, Grab, for example.

It may undoubtedly assist your small enterprises, and new startups to expand.

It saves money.

Digital marketing does not necessitate a large number of individuals to spread the word about your organization; it saves time and is incredibly cost-effective. All you need now to market your business is a laptop, some know-how, and the occasional support from a digital marketing agency.

Compared to other marketing methods, digital marketing has a lower cost per lead. Therefore, companies should strive to obtain a low CPL continually.

CPL is a measure that represents the cost per lead and the cost-effectiveness of a specific marketing campaign.

In terms of lead costs, social media and email marketing are tied for first place. How often do you check Facebook or your email in a day? It’s most likely a lot… which is why these platforms are crucial.

Even if your company’s budget is limited, you may still apply a digital marketing strategy:

  1. Send a few sales emails.
  2. Create an SEO-friendly blog post.
  3. Make social media profiles for your company.

When it comes to advertising, digital marketing is as near as free as you can get. With statistics that indicate higher traffic at a lower cost, you’d be stupid not to take advantage of it.

What will you do with all of the money you saved on advertising your small business? Simple: reinvest cash in your company and watch it expand exponentially. Use a portion of your income to engage digital marketing experts so that things can take off.

It is simple to start small and become big with digital marketing.

It is simple to track digital marketing.

Your goal is straightforward: conversion. You want visitors to your website to download the lead magnet, sign up for your email list, and eventually become your newest satisfied customer. And tracking your conversion rates is simple with digital marketing.

High conversion rates equal business development, and the Internet makes it easy to keep track of what’s working and what’s not. According to Google Ads, conversion rates are derived by taking the number of conversions and dividing it by the total number of ad clicks that can be tracked to a conversion over the same period.

Tracking of conversions

As you can see, tracking internet conversions is significantly easier than tracking offline conversions.

But there’s no need to remember all of that when there are many tools that will track your conversion rates for you.

The role of digital marketing simplifies the process of increasing your conversion rate. For one thing, it’s simple to do split tests and evaluate what works best, allowing you to zero in on what works best with your prospects and customers.

Another advantage of using social media is that it allows you to communicate with customers daily. As a result, customers are more likely to buy from a company with which they have an excellent working relationship.

You may even make your website mobile-friendly as well as desktop-friendly. According to AdWeek, smartphones account for more than one-third of total retail sales in the United States. Thus it’s critical to cater to the mobile customer.

Not only is tracking conversion rates simple, but the influence of digital marketing on conversion rates can help your business thrive. SEO, email marketing, and other forms of digital marketing will help your conversion rates rise, making it easy and enjoyable to track them.

It Isn’t Difficult to Get Started in Digital Marketing.

We’ve already discussed why digital marketing is ideal for small businesses with limited resources. Still, there are a few more reasons why it’s the most straightforward option you’ll ever make to help your business grow.

First and foremost, it is simple to establish a brand reputation. You have complete control over your image with digital marketing, which is critical for business success. People like to do business with companies they believe they can rely on. Therefore, the importance of digital marketing in reputation management cannot be overstated.

According to Forbes, reputations are durable and vital, and your online reputation is crucial these days. “Google said that, so it must be true!” you’ve probably heard someone joke. However, 91% of individuals believe what they see and read in search results. And, as Forbes points out, your digital footprint never goes away.

You have some control over what appears on the Internet about your company. It is simple to adopt a new advertising strategy and entirely rebrand yourself if you want to rebrand your company towards a different demographic.

With a plethora of digital marketing forms at your disposal, you can now arrange your material and tailor your company’s branding. In addition, you can directly effortlessly transmit your message through digital marketing.

The significance of digital marketing in your company makes it simple to establish a positive online reputation. As a result, more satisfied customers will be, which equates to increased business growth.

Second, digital marketing is similar to free advertising in more ways than one. We’ve already discussed how affordable it is, but here’s where things get even better. If you create high-quality material, people will click the “share” button, bringing greater attention to your content, website, and product or service.

Word of mouth is crucial: while 75% of people do not believe in advertisements, 92% believe in recommendations from friends.

On the other hand, creating shareable content will help your stats explode.

What qualifies content as “shareable?”

The process begins with researching both your competitors and your target audience. Next, concentrate on storytelling. The new trend is content marketing. 

Almost half of the millennial population has ad blockers installed, and 84% have said explicitly that they dislike advertising. As a result, it is critical that your advertising efforts create a story rather than simply selling a product.

Finally, you may provide incentives, such as a giveaway or a contest, to encourage people to share your content and company.

Social Media Competition

The importance of digital marketing–specifically, content marketing–can be a significant aid in leveraging free promotion and assisting your firm in growing.

Finally, internet marketing allows you to target your specific demographic easily. With today’s Internet capabilities, it’s never been easier to discover your target audience. Who is looking at your website? Where do they come from? What kind of equipment are they using? Are they disseminating your content?

Once you know your target audience, you can quickly determine whether or not you’re attracting them and, if necessary, launch a fresh campaign to entice them.

The Function Of Digital Marketing

Concentrating on a specific target audience boosts both customer satisfaction and revenue.

Digital Marketing is the Way of the Future

Digital marketing is massive and isn’t going away anytime soon.

We’ll show you how: According to Boostability, the United States will spend $120 billion on digital marketing in 2020. This sum is over half of the total amount spent on media. So the importance of digital marketing is overgrowing.

According to Boostability, the amount spent on social ads is likely to double between 2016 and 2021 ($15,016 to $32,977). In addition, the amount spent on display advertisements and internet videos will also rise.

Digital marketing is projected to outperform traditional marketing methods in the not-too-distant future. Simply said, they prefer internet content. When it comes to business growth, Kevin O’Kane, managing director for Google Marketing Solutions in Google Asia Pacific, describes the Internet as “rocket fuel.” And he’s correct.

According to BusinessWorld, O’Kane stated that “any firm needs to be online and digital.” “To continue growing, SMBs [small and medium companies] must meet consumers where they spend an increasing amount of their time, which is online.” Your ‘local’ market can be as large as you want it to be online.”

So, what function does digital marketing play in business growth?

Digital marketing is crucial, from social media to SEO to shareable content. Without it, your company will not grow. Are you ready to start growing? Contact us today to discover more about the importance of digital marketing in your company.

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