When was the last time you read a newspaper? When was the last time you entertained a telemarketer? Yes, gone are the days when businesses make a substantial profit from print ads and telephones.
It’s 2019. The way information is being conveyed has changed a lot in recent years. Technology, coupled with generational shifts, changed how people connect. These changes led the way to digital marketing. And, it opened opportunities that traditional marketing failed to deliver.
Before we dive into digital marketing, let’s first define traditional marketing.
Traditional Marketing: Is it still worth it?
Traditional marketing uses conventional methods that can prove successful over time for certain businesses. Some examples would be newspaper ads, direct mail, billboards, and TV/radio commercials.
While traditional marketing might still have its place as part of an overall strategy, it’s not as efficient as it once was and businesses are directing more and more of their marketing dollars toward online efforts. As technology advanced over the years, traditional marketing became less and less cost-effective and more difficult when it comes to ascertaining ROI. Hence, digital marketing.
Digital Marketing: Why focus on this strategy?
Digital marketing is any form of online marketing and advertising like search engine optimization (SEO), and pay-per-click (PPC) and social media marketing among others.
Here are just a few of the reasons why businesses choose digital marketing:
Businesses must determine which marketing tactics provide the most bang for their budgets. Because digital marketing has a low cost bar to entry and has the tools to highly target your ideal customers and prospects it is a cost-effective choice and a higher return on investment is often a direct result. Digital marketing levels the playing field and allows smaller businesses to compete with the big guys even with smaller advertising budgets.
Digital marketing uses in-depth analytics to show real-time data. This allows businesses to closely monitor which strategies are effective and which are not. And social platforms make shifting ad dollars between platforms quick and easy to ensure your business is putting your money where it will provide the greatest results. Data-supported decisions are typically smarter decisions.
Digital marketing provides businesses with the opportunity to engage customers and prospects directly in real-time. Smart digital strategies allow businesses and their audience to interact and get to know each other, which creates and builds brand loyalty.
Digital Marketing: Where to Start?
A good marketing strategy meets your target audience at the right place, at the right time, and with an effective method. In today’s world, you need to meet them on their digital devices, while they’re on the Internet, using digital marketing.
As a general rule of thumb, the U.S. Small Business Administration, suggested spending 7% to 8% of a business’s gross revenue on marketing in 2019. In 2020, they are suggesting that 55% of a business’s marketing budget be directed to digital marketing – more than half.
While businesses and organizations can reap big rewards with digital marketing, the technical aspects along with the speed at which digital marketing is moving might prove intimidating. The best place to start is with an experienced marketing agency. Their professional expertise, broad skillsets and technical tools will help navigate the landscape and ensure your business achieves maximum results. Most importantly, putting your digital marketing in the capable hands of professionals allows you as a business owner to focus more on the day-to-day challenges of running your business.