Five reasons Why your business needs Digital Marketing Strategy?
By Maulik Patel
21 Jan 2020
Are you still avoiding digital marketing?
Is it because you think you are not ready?
Are you still under the ‘let’s take it slowly and then figure out the digital marketing angle’ impression?
There’s nothing wrong with this, but the problem is that your current and future customers are spending most of their time online.
Online users are increasing day by day with one million new users coming online each day since January 2019. The below-given data from Hootsuite and We Are Social and displays the relationship between online + mobile users.
Right now, there’s a fair chance that your current and potential customers are already looking for a business like yours.
What if they can’t find you online?
They simply choose your competitors over you.
Oh yes, that’s how it works.
Once someone starts taking an interest in products or services, the first thing they do is jump online (probably Google) and see what they can find concerning their interest.
Those who spend time and money on digital marketing are reaping the benefits of users’ daily searches.
Besides, Gartner’s annual CMO Spend Survey Report 2019-20 states that 78% of marketing leaders are likely to increase digital advertising in the upcoming year.
Perhaps they have valid reasons to do so.
But do you have enough reasons to integrate digital marketing strategies into your daily business chores?
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5 Reasons Why Your Business Needs Digital Marketing
Without a digital marketing strategy, you don’t have a direction and are also running the risk of spending too much of your budget without showing any ROI.
1. To Give Your Business A Right Direction
Businesses without a written digital strategy have a general sense of what to do and how to do it. Their days are full of to-do lists without defined KPIs (key performance indicators) or a target market. Thus, they end up spending more than they reap. And they don’t know why this is happening. All the blame goes to fewer sales.
Many business owners wish to rank high on search engines and get the maximum likes possible on social media. They keep producing content in bulk without knowing where the content is heading.
Is it actually taking their business somewhere or they are just hitting in the dark?
Creating content is surely a winning strategy but without a planned digital marketing strategy, you don’t have the slightest idea on what to create, for whom to create it, and, most importantly, where to promote or publish it.
If your content is not reaching the right audience, why waste time creating it?
Digital marketing strategy gives your business smart and measurable goals to focus on throughout your marketing journey. It keeps your business on track no matter what. And, it ensures measurable results like traffic, leads, conversion, etc.
Here’s the top list of goals by those who rely on digital marketing to achieve results for their business:
Planning digital strategies helps businesses measure various KPIs like profit, sales, customer acquisition cost, etc. From there onwards, you will start paving the way to success where you and your employees are in charge of achieving key business objectives.
2. To Target Ideal Customers
To increase your number of customers, you must reach the right audience. A targeted audience is a group of people interested in your products or services. They want to hear about what benefits you offer. Of all the perks, the most important benefit of digital marketing is the ability to attract the right audience, at the right time, from the right channel.
When you don’t have a digital marketing strategy, you focus on everyone in hopes of reaching potential customers. Not only it is a big challenge, but also an extremely consuming tactic that wastes time and money. As a result, you get fewer leads than your marketing cost.
Digital marketing takes your business to the right people. Or, often, it is also the other way around. It specifically targets those potential customers with a keen interest in your products or services. Digital strategies like SEO or PPC Marketing include creating buyer personas that mimic your ideal customers which will then give you a clear idea about who your customers are.
Take a look at this persona profile to understand what we mean:
Digital marketing experts use these personas to attract people who are more likely to purchase your products or services.
3. To Drive Higher Conversion and Revenue
The biggest reason why many businesses are still hesitant to adopt a digital marketing strategy is because of its huge investment.
But do you know what the notable benefit of a digital strategy is?
It’s a higher conversion rate.
Haven’t you heard the famous quote?
‘A man who stops advertising to save money is like a man who stops a clock to save time.’
When you invest in various online marketing strategies like social media marketing or PPC, you are increasing your odds of conversion. This is because you gain the ability to target specific leads as explained earlier. Not only you are growing your list of customers, but you are also saving money from unnecessary strategies. Hence, you are earning double what you spend.
4. To Stay Ahead of Your Competitors
Simply doing your best won’t work anymore. To become the apple of your customer’s eyes, you have to be better than your competitors. For that, you have to keep track of what your competitors are doing, learn from it, and create a better version of it.
You can learn from your competitors’ successes and failures. Their failures can become the reason for your success. For example, if they have successful marketing campaigns, you can take inspiration from them to improve your campaigns.
But how do you follow your competitors’ path without their acknowledgment?
The answer is digital marketing.
Digital strategies are full of tools. Marketing leaders often rely on tools to save time, increase productivity, and track their competitors’ activities. It helps them create better strategies and stay ahead of the curve.
Here is a list of 5 competitive factors that come along with successful digital marketing strategies.
5. To Measure Results for Overall Improvement
When you are investing money into marketing campaigns, you want the end results. The higher conversion ensures that a strategy is driving results and helping your business grow.
With random strategies in action, it’s next to impossible to measure their effectiveness. A clear, measurable track is missing to dig out the origin of leads. Digital marketing follows a planned and manageable path for attracting customers. With tools and techniques settled at the centre, you can monitor various metrics including impressions, shares, comments, engagement, clicks, conversions, and more.
Generally, digital marketers rely on these 10 metrics to evaluate the performance of various campaigns.
These metrics help you identify the performance of your campaign. You can see what’s working and what isn’t in real time, which leads to necessary improvements. It allows you to save money and get the max out of your budget by optimising better campaigns.
Apply these Tips Now
Once you enter the digital marketing world, your business experiences the multiple advantages of popular strategies like SEO, PPC, and SMM. They bring you an excellent opportunity to gain more sales and grow valuable traffic. Your leads, conversions, and revenue goals will follow if you’re ready to give your business a well-planned digital marketing system.
Now the decision is yours.
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