Often we hear the phrase “What is digital marketing?”. Well, digital marketing is the lifeline for many online businesses, especially in these times. When it comes to acquiring and retaining customers, a digital marketing strategy is crucial. To highlight the importance of digital marketing in 2020, we have done the research and have come up with seven reasons why you need digital marketing in 2020.
1. You’re Directionless Without it
Reason number one; without a digital strategy to guide your business, you will not have a strategic goal set in place which you work toward achieving. In turn, without a purpose to work toward, you likely will not see an increase in your reach or sales. Using tools such as Google Analytics will allow you to track goals you would like your business to achieve. This, in turn, will help you know which parts of your business are ready to grow and which parts need work.
2. Building Lasting Customer Relationships
Over 1,190 US-based small businesses claimed that their third biggest challenge last year was retaining and re-engaging customers. Taking a look at the numbers, it is safe to say that most of them are online and using the internet each day, so increasing online marketing efforts in 2020 will help.
Some of the ways in which digital marketing improves the ‘traditional’ methods of retaining loyal customers include:
- Retargeting and remarketing to try out ‘our new product’ which complements what was already purchased.
- Engaging existing customers on social media to keep your business on their minds for re-business.
- Automated but personalised ‘thank you’ and follow-up email campaigns.
- Using online testimonials from satisfied customers instead of relying on ‘word of mouth’. These testimonials can be posted on your website and get used in social media campaigns.
3. Learning More About Customer Needs
A common challenge for small businesses comes with trying to attract, capture, and convert leads into customers. In order to successfully do that, a small business first needs to be able to identify what their target customer needs, so it can fulfil those demands.
Effective online marketing will help uncover the online habits of consumers so they can better target ideal audiences. Online marketing relies on solid market research to inform the next course of action.
Digital marketing strategies do not make assumptions. They use digital tools (like Google Analytics, SEMRush and SurveyMonkey) to learn who their target customers are, what they are searching for and what they want from your business specifically.
4. A Multichannel Approach To Boost Conversions
- 2 billion people or 42% of the global population uses social media.
- 54% of consumers browse social media for product research.
- 73% of marketers believe in the success of social media marketing efforts.
Making use of digital marketing’s multichannel approach assists in finding and engaging with potential customers online.
5. The Chance To Compete With Larger Businesses – And Win
Knowing your target audience and your product ‘in-depth’ typically means more than any fancy tools – especially with the help of digital marketing. Some tools may be needed in your online marketing strategy, but your success will depend mostly on knowledge and experience.
One of the biggest names in digital marketing, Ann Smarty (2019), has this to say in her article for Digital Marketer: “The great thing about digital marketing is that ingenuity and creativity can always win over big marketing budgets.”
6. Digital Marketing Is More Affordable Than Traditional Marketing
The truth of it is that many small businesses cannot afford traditional marketing methods such as radio, TV or billboard ad campaigns. However, many can afford digital marketing techniques that reach out and engage with ideal audiences. For instance, your organic online reach won’t cost a dime, but you will cater your content toward the right audiences increasing your chances of turning attraction into interest.
7. Digital Marketing Offers Measurable ROI
Unlike traditional marketing techniques, digital marketing is not only targeted, it also offers credible techniques to measure what is working and what is not, as well as, the how. This means that you can easily invest in digital marketing and expect results without having to take a huge risk first.
There is also A/B testing which identifies the most converting digital marketing techniques, page layouts, calls-to-action and copy based on online consumer interactions. This is great for troubleshooting and continuous improvement.
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