Ideas & Insights
Our blog is where we share our ideas and insights into the digital world.
What Are the Main Benefits of Digital Marketing?
While it’s clear that some demographic groups are more attuned to the internet than others, we live in a digital world where nearly everybody uses online services for something. Most people use email and a significant number has at least one social media account. The possibilities and opportunities open to businesses to reach out to customers are immeasurable yet some businesses still fail to grasp the full range of benefits of digital marketing.
A Global Reach for SMEs
The first and most important for smaller businesses is how smaller outfits such as SMEs may expand their reach beyond their immediate scope. This would have been out of the question just a couple of decades ago before the dawn of digital marketing. Now, even the smallest startup can afford to reach out to potential customers elsewhere in the country or even on the other side of the world. This also means you can find new markets while not being limited (in some cases) by geographical boundaries or your scarce resources.
Targeted Advertising Reduces Cost
Another major benefit to SMEs, especially those working with a strong online presence, is that you may target advertising at specific customer demographics. You can research and identify your core audience by such attributes as age, income, gender and educational level and tailor advertising methods and strategies to those demographics. Low-cost targeted advertising and using the right method help you stretch your marketing budget.
Marketing has always been an inexact science. Traditionally, the success of any campaign has typically been measured through qualitative data such as brand recognition and brand awareness while looking at revenues. Digital marketing methods provide analytics that shows not only the number of interactions but who is interacting (back to demographics), how and when. It’s not just showing you how successful a campaign is, but where and why. This helps you identify your core audience and streamline your digital marketing strategy to each group. You can even examine how much money you make from each element.
Better Conversion Rates
The conversion rate is the value at which potential customers become actual customers. Targeted advertising and a streamlined operation coupled with utilising the results lead to an improvement in this rate. The reason is that digital marketing is much more active, reaching out to customers in the way that they would want you to reach out. It’s there in front of them and with a single click, they can be on your sales page in seconds. Other types of marketing require customers to actively visit a website or make a phone call. These can lead to shopping around (in the former case) and apathy or forgetting about it (in the latter case).
The Personalisation Factor
It is possible in all forms of marketing (website, targeted adclicks, email marketing) to customise media for personalisation. Depending on your industry, you may list certain products and services in your email marketing and make it different for each demographic or for each customer. It’s important that you harness this data; the more they shop, the more information about them you will have. This has the extra benefit of allowing you to foster a sense of brand loyalty when you’re listening to what they want and giving it to them.