Why digital marketing is important for your business growth in 2020

If your are small or medium business owner & if you want to expand your business reach or if you want to earn best return on investments of your marketing spends then this article is for you.

Why Digital Marketing?

With the evolution of technologies, along with the large businesses, medium and small enterprises also adapting quick to the latest technologies and made their presence felt in the online platforms. Specially now in the lockdown due to the covid-19 in the country many businesses are either changing their mode of operations into online or either beefing up or starting digital marketing in order to the reach to the large pool of audience in the online space.

But for any business, revenue is the main goal, hence the digital marketing activities should not only achieve website traffic or followers on social media but it should also give the business a competitive edge and business growth.

The following reasons will tell you why digital marketing if used effectively can help your business to grow and reach to a wider range of audiences.

Cost Effective

Print, TV or Outdoor these are very expensive channels and all big brands fight for space in them as they are limited, hence it is very difficult for medium and small businesses to market their products or service onto them. Wherein, a digital marketing is much cheaper, will allow you to optimize and take control of your ongoing campaign any time. The return on investment for digital marketing campaign is way more than any other channels. Besides, it also gives you a second chance. Imagine there is a typo on your print ad and you cannot recall it once it is out there, but in digital you can always rectify error in real time, you can do A/B testing at the same time to see which creative is working better for your campaign.

Compete with big players

You don’t have to pay premium in online platforms, which gives equal opportunity to medium or small enterprise to compete with bigger companies. You can reach and market your product in any geography even if there is no store or distributor of yours.

Niche Targeting

One of the best thing about digital marketing is its ability to reach and interact with targeted audiences in real time. The digital marketing tools for different mediums allows you to target the audience with respect to demographic, geographic, behavioural and interest levels. You can also engage your audience in real time, take their feedback in the form of review or online survey, manage any crisis, etc. All these let you to understand your target audience better and also work on your businesses if any improvement is needed.

Measure success or failure

Another important aspect of digital marketing is you can set up various KPIs and secondary metrics to analyse whether your marketing campaigns are working or not in real time basis. The metrics can be your website traffic, leads, conversion or a sales, social media followers etc.

Revenue

As mentioned above digital marketing allows you to reach to a wider audience and also in the location where you don’t have any presence. As per the report from Google and Facebook, a small and medium enterprise can expect 3 times revenue if they have a presence online. You can get business from a phone call on the number mentioned on your website or you can generate leads from various platforms with digital marketing campaigns.

Relationship with your audience

It is not necessary to run digital marketing campaign each day to reach your target audience. You can posts about your business on your social media handles and the followers can get regular updates about or business. Or if you have a store and wish to change the opening and closing time, you just need to update that on Google My Business and notify your audience. Google My Business is also a great asset for local businesses wherein they can give their details such as website, address, phone number and location which enable users to find them.

Entice your audience

Suppose you are driving at a decent speed and you see a hoarding of a brand, you wish to enquire about the product but wouldn’t be able to write down the number or memorize it. Now compare it your website, you can entice your visitors to take an action with effective call to action buttons. It can be a lead form pop up, it can be an animation of a telephone’s logo ringing or even a WhatsApp icon which would entice the audience to take any of these action and you would end up getting a lead either from lead form, or call or a text on WhatsApp.

Reach your audience on multi device

As per the latest reports, more than 70% of the people uses internet on phone and more than 40% of people uses internet on more than one device be it smartphones or tablet or computer. Therefore, you can target them on multiple devices in different times and create a stronger recall value for your brand. Also, as mobile is the most used device for internet today, you can go completely mobile and make your advertisement creative in portrait canvas which would create better engagement and also entice users to take action.

Earns trust

Brand advocacy is very important and nothing is greater if your customers are your brand ambassadors. Usually people trust those brands who have great reviews on google or their website or any external site. A customer testimonial is a great asset for any business to get attention of the prospective customers. Besides these, regular updates on social media platforms and blogs also strives for your prospect’s confidence and trust over a period of time.

Ensure your business survive

A latest example of this is the current situation we all are going through. With the lockdown in effect many business and shop have been shut. But if into a service industry and your employee can work from home you can still provide your service to your customers or client. So just tell your audience via online platforms that you are available to provide service. Or if you have a shop which had to shut but you have sufficient stocks of the products that you sell in your storage facility, you can get rid of those and generate some revenue if you can sell them online.