Importance of Digital Marketing for Business Growth
A few years back, selling and buying online was considered a luxury. You might have laughed when anyone told you to reach your customers on the web and make a sale there.
But before we go on telling you what is digital marketing and why it is important, let’s look at some numbers showing how digital marketing has completely changed marketing.
- 3.2 billion people, which is about 42% of the population, are active on social media platforms EVERY DAY.
- In an analysis done by Global World Index, it was found that an individual spends about 2 hours 22 minutes on the internet on average.
- 98% of sales representatives achieve their sales quota using social media.
- 51% of the consumers identify brands and items available in the market using their mobile devices
Digital marketing is now the new ‘normal’ of marketing. Being one of the most effective and distinguished ways to create brand awareness, it is how you can reach out to your potential customers and stay connected with the existing ones, get the best results with Purply affiliate software.
Now that the basic definition of digital marketing is clear, let us understand the importance of digital marketing in 2021.
Importance & Benefits of Digital Marketing
Nowadays, many people across the world are spending their time online. They are browsing the internet and looking for your products. In order to benefit from this massive audience base, maximising your online presence is key. This is where digital marketing comes into the picture. Digital marketing is all about reaching the right people at the right time. Hence, to begin with, one must have an engaging online store with easy navigation to improve audience reach.
In this process, various mediums within digital marketing can eventually help in brand building – Pay Per Click Marketing, Social Media Marketing, Search Engine Optimization, Content Marketing, and many more.
Can compete with large corporations
Analysing the competitor is a key activity in digital marketing. The activity is essential to keep up with the competition especially amongst fast-growing brands such as Myntra, Amazon, Big basket, Walmart.
Businesses also try to push the envelope with multichannel marketing which comprises of PPC, SEO, social media, and many more mediums. The approach helps both small and large businesses to achieve their respective goals, leveling the field.
Increase in Brand Awareness for small businesses
Digital marketing is a boon to businesses. Large companies use digital marketing so that they could stand steady in a competitive environment. In contrast, small businesses use online marketing to make headway into a booming market and create brand awareness amongst large companies.
Increase in Sales
One of the key aspects, when it comes to the importance of digital marketing, is that one can measure their CRO (Conversion rate Optimisation) in real-time. The data can help understand the overall percentage of searches that get converted into leads by buying products. PPC, Social media marketing, SEO services, affiliate marketing are some of the active channels to communicate and get high conversions.
Return on investment
If you want to know the value of digital media, look at the measurement metrics of profit and loss it drives for business. The ROI in digital marketing defines the worth of your marketing campaigns. For example, when compared with other mediums like e-mail marketing, content marketing, PPC, social media campaigns; SEO has been known to generate higher ROI. From basic metrics such as sessions and bounce rate, the organic traffic generated by the SEO shows 40% more revenue growth than any other marketing strategies.
Maintaining The Brand Reputation
Developing a strong brand reputation in the online world has become very important as the brand’s reputation cements its ability to sustain in the market. Thereby, further reiterating the importance of digital marketing in this aspect too.
Your Customers are Online
The internet has become a fundamental necessity of everyday life, with more than 4.66 billion internet users globally. Your customers, targeted customers and competitors are all online, and they are looking for businesses like yours. When they cannot find you, the chances are that they will see your competitors. You risk losing your customers if you do not have an online presence and exposure.
Your online business will feel digital marketing importance when it requires the right kind of exposure and visibility to generate leads and improve sales. When your customers do not find you online, it is possible that they might not value your products and services.
Can target ideal audiences
Imagine, reaching out to the right audience for your business’s niche is such a great opportunity. That is exactly what digital marketing helps to achieve. You can analyze your audience’s behavior online and take measures to deliver optimal fulfillment. When you reach the right audience group, you drive more traffic, and that results in better campaigns.