The Importance of Digital Marketing

Today’s consumer is more connected than ever, with more access to and deeper engagement with brands. Thanks to the proliferation of digital devices and platforms, information can now be quickly delivered to consumers through a variety of connected devices.

The effects these changes have had on a brand’s ability to reach consumers cannot be overstated. Search engines have made product information ubiquitous, social media encourages consumers to share, compare and rate their experiences, and mobile devices have added a “wherever, whenever” dimension to the sales process.
This shift has divided businesses into two distinct categories: those businesses that adapt and take advantage of these new opportunities; and those that ignore the trends and continue pursuing outdated methods.

Below are a few of the other reasons why digital marketing should be a central focus for any business looking to reach and engage today’s consumer.

Your Customers are Online

First and foremost, the digital world is where your customers live. Today, people shop and research in a whole new way compared to just a few years ago. Consumers primarily shop and gather information through search engines like Google. In fact, the average consumer conducts dozens of searches each day — and, rather than listening to a sales rep, reading a spam email or watching a TV ad, most people prefer to find the information themselves.

Social media usage is now standard practice in our daily lives. Almost two-thirds (64%) of social media users say they use social media at least once a day via their computer, and almost half (47%) of smartphone owners visit social networks every day. With the rapid adoption of mobile devices, social media has developed a symbiotic relationship with today’s consumer.

To be successful in this new marketing environment, you must adapt and engage your customers where they want, when they want and how they want. For today’s consumers, this means the digital world.

Your Competitors are Online

If you do a Google search for the type of products or services you offer, it should quickly become apparent that your competitors are online. If you don’t see your business among those results, this should be a major cause for concern.

Your Customers are Looking for You

At this exact moment, your customers are searching for you online. Today, nearly all consumers (97%) use online media when researching products or services. Further, 50% of smartphone users who search for local business visit the store within a day. This means that your customers are trying to find information that you could provide them, and then they’re taking action. This presents a tremendous opportunity for businesses.

Your Customers Expect You to be Online

Today’s consumers want their information fast and when it’s convenient for them. They have also developed very high standards for service quality. Failing to meet those rising expectations often leads to lost business.

Conversely, consumers are also looking to establish long lasting relationships with brands. This means that, while their expectations are high, the reward for meeting these consumers and engaging them on their terms can be substantial.

Always Available

Today’s consumers also expect to be able to interact with brands when it’s convenient for them. The digital world provides businesses the ability to be available around the clock. If a customer has a question about one of your products, for example, social media provides a digital platform that enables you to receive and respond to those questions 24-hours a day.

Real-Time Results

Another benefit of digital marketing is the ease with which results can be tracked and monitored. Gone are the days when you had to wait until your marketing campaign concluded or rely on expensive customer research to see the results. With the proliferation of affordable online tools, you can now monitor your results in real time and continuously make adjustments to ensure you’re always using the most effective tactics possible. This can result in tremendous cost-savings and much more efficient use of budgets.

 

 

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Powerful Ways to Market Your Business in a Limited Budget

Digital is powerful while being economical

The success of any business is dependent not just on the business model and market conditions but also on how you do the marketing of your business. There are a plethora of examples in the market where a company has failed to get traction despite having a very strong concept. Two primary reasons for the same are either lack of funds for marketing (or) investing the funds in wrong marketing channels. Usually, the former one is a bigger problem for most of the start-ups. Though in the earlier times it was very difficult to conduct marketing activities on lower budgets, the evolution of internet has made things much easier now. Digital channels are the most powerful one which allows a person to market his business in budgets as low as 100 rupees. You reach out to a limited audience but the things start happening and you are able to generate awareness and get the initial set of customers.

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Digital helps in making decisions on what have worked for you

Going digital further helps you measure the complete customer funnel from lead generation to on-boarding to finally converting to sales and thus you can calculate the ROI for each channel and make informed decisions on which channels have worked the best for you. And yes, there are various tools available in the market to help with the data capturing and analytics part of it. So, if you have a limited budget in hand and still want to get the balls rolling, then going digital (aided with the best analytics tool) is the answer for you. Relook at your old marketing strategy of advertising in a newspaper and expecting people to respond. Today, that strategy is like shooting darts in the dark and hoping something will stick.

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Presently, when resources are short and you need to ensure more value for the money you invest, the first thing you should know is – your customer acquisition cost. This includes the costs to acquire a customer which should be significantly greater than your lifetime customer value, how much does he add to the budget top line and bottom line and so, according to your calculation which should be clearly defined, you can understand how much are you willing to pay for a customer acquisition.Considering this,you can use tools like Google AdWords, Facebook, Social Media Marketing, SEO and Content Marketing, to get to where your customer is. So, when your customer is trying to search for products or services which you offer, you should be highly visible. If you’re a local business, try and understand your customers’ movements and preferences to convert them at a cost effective price.

 

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