There’s a difference between surviving and thriving, and as a business owner, you’re probably familiar with it. But are you familiar with the role of digital marketing as it relates to your business?
If a business is surviving, it’s doing okay. It’s breaking even, the owner is relieved.
But if a business is thriving, it’s growing. Its revenue is increasing by leaps and bounds. Company employees are happy, and the owner is excited. It feels good to be in charge of a growing business, right?
What Is Digital Marketing?
The world of digital marketing might seem confusing, so let us break it down for you.
According to HubSpot, digital marketing refers to any marketing effort that involves the Internet or an electronic device. If marketing exists online, it’s classified as digital marketing. That means social media marketing, content marketing, and SEO are all under the umbrella.
So, what are its benefits over traditional marketing?
Marketing via digital platforms offers a more affordable alternative to the traditional method. They create as much impact yet costing way less.
With just a few bucks you can subscribe to an email marketing provider and send transactional or direct emails to thousands of customers on your mailing list.
Huge return on investment
Nothing matters more to a business than the return on the investment it makes. Digital marketing offers a substantial return on small investments. Email marketing or running advertising campaigns on social media platforms cost little when compared to traditional marketing techniques.
Easy to measure:
The success or otherwise of a digital campaign can easily be ascertained. Compared to traditional method where you have to wait weeks or months to evaluate the veracity of a campaign, with a digital campaign you can know almost immediately how an ad is performing.
The traditional means of marketing uses the spray and pray method, where an ad runs over a platform with substantial reach with the hope that a few people who love what they see, hear, or read would make a positive approach. Marketing over digital platforms, on the other hand, allows for targeted campaigning where ads are presented to customers based on their preferences or initial action.
The world, they say, has turned into a global village. This has been made possible via digitization. Digital marketing allows ad campaigns to be visible in any part of the world. This gives small start-ups the rare opportunity to go global via the immense exposure provided.
Not only does marketing over digital platforms allow campaigns to be targeted at specific customers, it also allows for customer segmentation. Segmentation is the process in which large customer groups are further broken down into smaller groups of customers according to a particular classification. Segmentation increases the chances of sales, as well as cut down on cost.