How Can Digital Marketing Help Businesses Grow
The decision to operate or digitalize any small or medium-sized business is confusing. With a limited marketing budget, it becomes difficult for every small and medium business to distinguish between traditional and digital. Finally, most businesses go with traditional marketing. Because they face the unavailability of the right tools to measure ROI (Return On Investment) to go digital.
Choosing the right marketing mix is not an easy task. One has to answer a lot of questions like:
- Which channel will give me the best ROI?
- How do I know if it is working or not?
- Should I do it myself or should I outsource it?
The answers to these questions are more confusing than the questions themselves.
Traditional marketing has its own benefits, and most business owners are aware of it. They have used it, and they know what the consequences will be. Moving from traditional to digital is a huge task. This includes not only creating and checking campaigns in different ways. It is also about changing the whole mindset. People know that now the whole world is on mobile and they spend an average of 4 hours a day on it, yet they stick to the billboards. There are many reasons for small and medium businesses to go digital, which I will explain in the following lines.
Expanding a new geographic area with traditional marketing may seem difficult and impossible, but digital marketing can help you expand into new areas without any geographical constraints. You can grow your business digitally in your favorite city, you can build any kind of relationship with your customers and audience. You can set your goals and campaigns at any time.
Small and medium-sized businesses do not have much money to spend on marketing. But the goal is to reach as many people as possible at a lower cost. As you may know, this is a one-time TV commercial that lasts 30 seconds. It costs up to Rs. 3,50,000, and is also the cost of an ad that is shown during normal hours of the day.
But a small business does not have that much money. Print advertising and billboards also cost a lot. Digital advertising, on the other hand, can reach a very target audience at a low cost. With digital, you can spend as much as you want, and you can be in complete control of your budget. Businesses that spend on digital marketing improve Cost Per Lead (C.P.L) compared to other marketing channels.
In addition to cost-effectiveness, this is one of the best benefits of digital marketing. You can really see which channel has sold you the most, unlike traditional marketing. Traditional marketing sometimes resembles shooting in the dark. If you do not measure which channel is giving you the best ROI.
Digital marketing helps measure every click and helps identify user behavior and buy patterns. It also helps to provide detailed information about your target audience. So you can create Super Targeted Ads. The data you can gather with the help of digital marketing is invaluable.
Digital marketing helps generate more revenue than traditional marketing channels. Small and medium-sized businesses that use digital marketing techniques have a 3.3 times better chance of growing their workforce and business.
Super Targeted Audience
If you want to target a 24-26-year-old woman who is interested in fashion jewelry, living in Mumbai, you can target her especially. This is the beauty of digital marketing. You can definitely target the people you want.
This is a feature of digital marketing. This means that the message of offers and marketing can be changed based on the actions taken by the people. Businesses can customize offers in real-time, and offer people what they want. This not only increases customer satisfaction but also adds revenue to the business.