As you look for new ways to market your business, you may hear people tell you about the importance of digital marketing. You may also hear some digital marketing myths, which we debunk in our video (below).
Digital marketing is a valuable asset to your business’s growth and helps you establish an authoritative online presence.
In fact, 89 percent of marketers say methods, like search engine optimization (SEO), are successful. Additionally, methods like pay-per-click (PPC) advertising increase brand awareness by as much as 80 percent.
So, why is digital marketing important?
By investing in digital, you will help your business grow.
In this post, we’ll cover six reasons digital marketing is important to your business. Keep reading to learn more about why it’s time for your business to adopt an online marketing strategy!
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1. You reach people where they spend their time
With the growth of the Internet, more people are spending their time online.
Over 7.7 billion people use the Internet across the globe. It’s become an integral part of everyday life to conduct searches, check social media, and purchase products online.
Your customers are online, which highlights the importance of digital marketing. They’re browsing the web looking for your products or services.
If they can’t find them because you don’t have an online presence, you risk losing those leads to your competitors.
To drive the best results for your business, you need to build your online presence. You will reach more leads that want your products or services.
2. Your competitors are already doing it
If you’re wondering why digital marketing is important, the answer is that your competitors are already using it. Many of your competitors have already taken advantage of all digital marketing has to offer.
If you want your business to compete with others, you have to do what your competitors are doing and more.
By neglecting digital marketing, you’re already falling behind your competition.
Your competitors are gaining traffic that could be yours because you’re not investing in digital marketing. They won’t know that your business is an option and will automatically choose a competitor. You must invest in digital marketing to put your hat in the ring and get leads to consider your business as an option.
To keep up with your competitors, you must invest in digital marketing.
3. You can compete with larger corporations
Competition is the hardest part of running a business. When you’re in a market with bigger corporations, like Walmart, Target, and Amazon, it’s hard to compete with them. They have a big name for themselves, which automatically draws people to trust those corporations.
You have a fighting chance against bigger corporations, which is why digital marketing is important to your business.
Your business can reach interested leads with the same methods as a larger corporation.
Methods like SEO and pay-per-click (PPC) advertising level the playing field.
With SEO, your site ranks in the search results based on relevancy. A corporation can’t buy their way to the top of the ranks. They have to optimize their pages just the same as a small mom-and-pop shop.
When you use PPC, Google ranks ads based on relevancy, too.
Even if a corporation bids twice as much as you per click for the same keyword as your business, it doesn’t guarantee them the top spot. They can’t buy a top-ranking ad spot because, again, the rank is based on the relevancy of your ad.
This creates the opportunity for smaller to mid-size businesses to compete with bigger corporations. If you can create content that is more relevant to the selected keywords than your corporate competitors, no amount of money will enable them to outrank you.
Digital marketing is a great opportunity for your business to compete with bigger companies to obtain more relevant leads.
4. You can target your ideal audience
The ability to target your audience better is one of the most obvious reasons why digital marketing is important. Imagine being able to market directly to people who have an interest in your products or services.
With digital marketing, you have the capability to directly reach leads interested in your business.
You don’t have to hope that people will see your traditional marketing efforts and contact your business. With digital marketing, you can target your audience more precisely than traditional methods.
You can input important information about your audience and use that information to shape your digital marketing campaigns.
It makes it easy for you to reach the right people.
Let’s say your ideal customers are African-American men between 23-35 years old who are single and make at least $35,000 a year. You’re trying to reach this ideal customer on social media to get them to follow your business.
If you wanted to precisely target those characteristics, you could easily set those perimeters for your social media ad campaign. This would ensure that only the relevant people specified would see your ad.
You can segment your audience, too.
Let’s say you also wanted to target African-American women with the same characteristics.
You could segment these two groups to deliver a customized ad experience that is relevant to them. When you can better target people in your audience, you drive better results with your campaign. You’ll reach more leads that are interested in your products or services.
5. You can monitor your campaigns and optimize them for better results
The importance of digital marketing is that you can easily track and monitor your campaigns.
When you invest time and money into your campaigns, you want to know that they are working. Digital marketing makes it easy for you to track your campaigns, which allows you to adapt and drive better results.
When you use traditional methods, it’s challenging to know the results of your campaign. If you run a TV ad, you may have to ask every person that comes into the store about what brought them to your business.
It would be a very time-consuming effort that could annoy people who visit your business.
With digital marketing, you don’t need to worry about bothering your audience.
Every campaign you run is trackable. You can easily track a campaign’s ROI and other indicators to see if it is driving valuable results for your business. You can see metrics such as impressions, clicks, likes, shares, comments, conversions, and more.
The type of metrics will depend upon the medium and what you want to measure.
You can easily set up your tracking system to monitor specific metrics for your campaigns. When you can track your campaign’s performance, it’s easier to fix it and adapt to changes.
Whenever you run a traditional advertising campaign, you typically can’t make changes until the campaign is over. It only benefits the next campaign you run, which can feel like you wasted money on the previous campaign.
With digital marketing, you monitor your campaigns as you go.
You can see if they are successful or need improvement. If your campaigns need improvement, you can make immediate changes and implement them at any point during your campaign.
You save money when you can make immediate changes. It allows you to get more out of your campaign and spend your budget more wisely.
6. You get an impressive return on your investment (ROI)
If you want to know the importance of digital media, look at the results it drives for businesses.
Online marketing strategies have an awesome return on investment (ROI). When you invest in these methods, you’ll get more out of them. Email marketing has one of the highest ROIs out of all methods.
For every $1 spent, you have the potential to earn up to $44 in return — an ROI of 4400 percent!
This is a great opportunity for you to grow and earn a profit from your marketing efforts. So, why is there so much room for a great ROI with these methods? It is very cost-effective to use online marketing methods.
This leaves room for a great ROI because you don’t have to spend much money to run a campaign.
It doesn’t cost much to run a PPC campaign or social media ad campaign, compared to some traditional methods, which allows your business to have an opportunity to grow.
Want to know more about the importance of digital marketing?
Digital marketing is a great opportunity for your business to grow and reach new heights. You’ll be able to run different digital marketing campaigns to drive valuable results for your business.
WebFX is one of the best digital marketing agencies in the USA, and we’re proud to provide our clients with the best-of-the-best when it comes to digital marketing.
If you want to learn more about the importance of digital marketing, contact us online to speak with a strategist about why now is the right time to invest in digital marketing.