Welcome friends. Hope 2019 has been a good year so far. Hope all went well in terms of achieving the sales targets, revenue targets, and growth targets. Let us see why Digital Marketing is important in 2020?
This article will highlight the importance of Digital Marketing and why you must include it in your sales strategy. If you are already doing Digital Marketing for your website/business, then you can read the article to ensure you have included everything in your strategy and update if something was missing in 2019. This article is mainly for new businesses which have just established. And for businesses that are looking to improve the results significantly and individuals who are running small businesses.
Before I start discussing the topic and highlight all the advantages, just consider a situation where you get 4-5 employees working for you at zero cost. This situation is possible if you use digital marketing. Let me explain what I just said. With high returns as much as 40-50 times on your investments, hiring an employee or an agency for digital marketing allows you to have profits equal to the profits if you hired 4-5 employees doing conventional marketing or door-to-door sales.
As we move into the 3rd decade of the 21st century, consumer behavior has evolved a lot. This creates a lot of pressure for companies and brands to have excellent marketing operations. Therefore, companies need to be on their toes to cater to their requirements post understanding their behavior. With DM, the organization has all the power to understand their customers. They can track the interaction of the user with their content. Hence, they can provide the offer to the user to ensure the sale is completed. Consequently, they can create urgency by creating a limited period offer or mention the number of remaining stock.
Here are the 8 key advantages why Digital Marketing is important in 2020:
1) Better than Traditional Marketing: If we compare the cost of running an advertisement through traditional marketing and the cost of running an advertisement through digital marketing, then there is a very big difference. You need to invest a lot of money to put an ad on billboards or in newspapers while on the other end Digital marketing can start from as low as less than 1$. Also, few tools are even free allowing you to get results straight away without much investment. If you get your strategy right, then there are 100% chances to increase your sales and revenue significantly.
2) Access to Global and Local Audience: Digital Marketing allows you to connect with anyone in the world with a few clicks. There has been a huge growth in digital marketing audiences in terms of numbers and variety. Ranging from Facebook – a network of friends and families to LinkedIn – a network of professionals worldwide. With Digital Marketing, there is easy access for businesses to Global and Local Audiences. With a website or social media page, you are all set to reach millions of users worldwide.
3) High Return on Investment: As already mentioned, Traditional Marketing is costly while money spent on Digital Marketing ensures high ROI. Email marketing alone can have as high as 44X ROI. With Digital Marketing Channels easy to own and start, results may be achieved for investments as low as $1 for Facebook ads in order to reach around 100 followers. Free Email Marketing tools like MailChimp, Zoho Campaigns, etc., allow very cost-effective solutions. With the proper strategy in place, leads generated through digital Marketing can be significant in terms of ROI and quality. The cost guarantees to deliver the result.
4) Targeted Audience: No other medium of advertisement is as specific as the advertisement through the digital channels. In the case of Facebook Ads, Google Ads, etc. you can specify your audience and segment them on the basis of Location, Interests, Age, Gender, Income, Occupation, etc. So, if you are selling a product online, you know where to start from. Also, if have gathered data either through conventional methods or through forms on your website or through Google Forms, you can leverage that by sending your communication mail to all at once. The level of targeting is so specific that money invested is a fruitful investment.
5) Efforts are measurable: Suppose you run an ad in a newspaper or on TV, you will have to spend a lot of money for a small space in a Newspaper or for a 10-second ad on Television. The readership or viewership is quite high for these methods but there is no way to know who liked your ad, who wants to buy your product. Basically, there is no communication from the customers, no way to have feedback. Hence, this one-way communication is not good if you want big results with small investments. Moreover, with tracking features like Open Rate/Click Rate for emails, no. of likes for a Facebook post, and no. of retweets for a Twitter Post, customer interaction is tracked. A/B testing allows you to test two or more variations of a single ad and executing the ad which is more effective.
6) Highly Relevant Strategy: In 2020, you are not alone to think about starting your company’s digital path. You are simply competing against many other companies to get the major share of the internet audience. The most simple way to make you understand its importance is to remind you what happened to companies like Nokia, Kodak, etc. Hence, having digital marketing is good but not having is a complete disaster.
7) Planning beforehand: Digital Marketing allows you to prepare your content even long before the date of any event. With proper planning and execution, you can achieve the results without actually involving yourself in them. Everything in Digital Marketing can be planned beforehand and scheduled for a date in the future. The best example of this is a sale by Amazon or any other similar company.
8) Build Trust: Unlike traditional media, you have two-way communication and a feedback channel to hear from your customers. Digital Marketing allows you to talk with your customers even after the normal working hours closes. Some companies have opened a Twitter account just to hear consumer complaints and to act on them as fast as possible. Such strategies allow customers to have more faith in the brand and are very likely to stay loyal and buy even more.
To summarize everything, if you are planning to start a business or/and looking for big results, your small steps in digital marketing can provide all the results you are aiming for. Digital Marketing allows you to improve your sales and revenue figures, achieve superior customer service, and out beat competition.
If you are a young business and looking for free guidance, please feel free to contact us at [email protected]. We will help you to take off your digital marketing plan by guiding and finding you the right Digital Marketing Agency for free. If you like the article, please share it with your friends who are considering implementing Digital Marketing in 2020. Hope it clears your mind about why digital marketing is important in 2020.