3 Awesome Benefits of Digital Marketing That Boost Your Business

Veecotech

238
views

Understand The Key Benefits of Digital Marketing That Boost Your Business

Do you know that digital marketing has become the main focus in marketing campaigns for a large majority of businesses?

Even without viewing any marketing statistics, you can still imagine how an online presence can bring huge benefits to a business.

According to Internet live stats, there are over 4 billion searches were conducted today.

Plus, more consumers are going online, especially during the covid-19 pandemic.

How do you reach these consumers without digital marketing?

Hence, digital marketing has become one of the most cost-effective ways to reach your prospects.

With the same amount of money that you spend on sending direct mail (physical letters) to your audience, you can reach 18 times (36,000) more people via digital marketing.

Curious about why and how digital marketing benefits your business? Keep reading!

Here’s a summary of the benefits of Digital Marketing:

Here I'll just mentioned top 3 main benefits of digital marketing. Read here to find out more.

Cost-effective

You don’t have to be a math genius to figure out that digital marketing is far less expensive than traditional advertising methods.

Newspaper and magazine advertisements can cost thousands of dollars, and television and radio advertisements can quickly consume a company’s marketing budget.

As you can see from the chart, the cost for digital advertising is much cheaper. One of the reasons is that most digital advertising platforms are using the Pay-per-Click model (PPC).

But we know that low cost doesn’t mean you will get good results.

So why is it cost-effective?

One of the reasons is that digital marketing allows you to collect valuable data from your visitors. That you then, you can use it for retargeting.

Image source: Microswift

With the ability to retarget, your ads will be placed before those who would like to work with or buy from you. It can also be used on consumers who have purchased your product or paid for your service once.

The ads serve as a reminder of or an introduction to your value. You can gather the conversion data and fine-tune your future campaigns.

Another reason for its cost-effectiveness is you can utilise free resources to drive attention to your business.

For example, you can create a series of valuable posts that are related to your brand and campaign and share them on your social media using free sites such as Canva.

Remember that you can use the same materials to generate different types of content (images, videos, animation, infographics) and share on different channels, which makes it more cost-effective.

This can help you get traffic from unexpected places, but from people who are still interested.

And this leads us to the second point.

Huge Return on Investment (ROI)

Every business places emphasis on its ROI.

If you have low ROI, you are experiencing a great loss in your business.

But with digital marketing, there are a lot of statistics proving how it can leverage your return on investment.

See the statistics:

The average return on investment from email marketing is 4200%.
Individuals that blog are 13 times more likely to get a positive ROI.
For every $1 spent on Google Ads, businesses receive an average of $2 in revenue.
64% of Internet users are more likely to purchase a product online after watching a video.
The cost of content marketing is 62% less than traditional methods, yet it results in 3 times as many leads.

However, it’s crucial to note that you can only achieve this ROI if you conduct digital marketing correctly.

Develop your Brand Effectively

The founder of Amazon Jeff Bezos once said, “Your brand is what other people say about you when you are not in the room.”

Branding is vital because it’s the visual identity of your company. Even if you’re investing in traditional marketing, your business still needs branding to be successful.

The stronger the brand recognition, the greater the opportunity to be the chosen brand by potential customers.

So how does digital marketing develop your brand?

1. Great visibility and Reach

Digital marketing builds your brand because it harnesses the power of connectivity in digital media, allowing you and consumers to stay connected.

Your business will be seen by more individuals when you’ve created an online presence.

Since a larger number of individuals can access your brand, awareness of your products or services will be higher compared to traditional techniques.

2. Build and nurture a relationship with your prospects

We know that customer loyalty can be difficult to establish.

But when you’re implementing online marketing, you can build relationships with your prospect from being in the awareness phase to entering the consideration phase.

As they receive more information and offers from you, your brand is slowly built in their mind.

Once they find that you’re providing better offers and services than your competitors, they become consumers.

Image credit: Edwards Media Solutions

I will share more about how you can nurture your prospect in a second.

3. Gain high credibility and trust

As you continuously provide high-quality products and services, you will obtain more testimonials and customer reviews.

Since digital marketing allows you to share reviews on your digital media platforms, chances are more people will notice you.

When more people read the positive customer reviews on your website or hear about your brand from their friends, you will gain more trust from more people.

This trust will cause an increase in your website traffic, higher engagement with blogs and social media or even better conversion rates.

Image source: Pait Academy

4. Build a community

Customers trust each other more than marketing collateral.

The more excellent reviews you have from your consumers, the more trust you gain from them.

By marketing online, it is easy for you to build a community that consists of brand ambassadors and brand champions.

This community will help you to promote your products or services to more people, which also increases your ROI.

5. Enhance Brand Equity

Brand equity refers to the commercial value that is gained from how consumers think and feel about a brand, and how well a brand commands market shares and profit within its industry.

When you have higher brand equity, consumers will favour your brand over your competitors.

With that, you have the opportunity to improve your pricing structure. You’re also spending less on paid advertising and public relations to promote your new products and services.

Conclusion

Digital marketing offers tons of advantages you should not miss out on. No matter what size your business is, you can benefit from investing in digital marketing.

If you need any help in digital marketing, feel free to get in touch with us!

Need help in digitalising your business? We offer services ranging from: