If you assume that digital marketing isn’t a big thing—think again! In the first half of 2018, digital ad spending soared to a record-breaking $49.5 billion, which is more than what marketers and advertisers spend on television and cable networks.
This meteoritic rise in advertising on the internet is because traditional advertising isn’t practical or has the power. According to recent estimates, multi-channel digital marketing has been increasing by as much as 137%. Brands using various digital marketing channels have increased by an astonishing 500%!
What has Sped up the Use of Digital Marketing?
The answer is pretty obvious. It’s the consumers themselves. According to reports from Mashable, it’s been estimated that as much as 72% of consumers engage with brands through digital marketing activities. Though this trend of digitally connecting with consumers and business owners is pretty standard for established brands and large businesses, many small businesses are still slow in this regard.
Most small business owners and entrepreneurs believe that digital marketing is complicated, but this isn’t true. Even if it feels complex and time-consuming, we can confidently tell that the effort is worth it. Below are seven benefits of digital marketing for small businesses:
1. Digital Marketing Helps Connect Consumers Online
Gone are the days of people scanning through phone directories or looking at pages upon pages of newspapers and magazines for information about a product or service. Thanks to digital marketing, 80% of consumers now find all sorts of data on the internet, making the process of finding a product or service a whole lot easier, faster, and more efficient.
2. Digital Marketing Generates Higher Conversion Rates
There is little point in advertising on the internet if it does not generate leads. Leads eventually result in sales. Implementing digital marketing into your brand marketing strategy, you’ll reach out to your targeted audiences faster, create leads, and accomplish as much as a 24% increase in conversion rates.
3. Digital Marketing is Cost-Effective
If you’re a small business owner or a new entrepreneur, there will be years of struggling, especially during the start. With digital marketing, small business owners benefit from savings of 40% in reported savings on their marketing and promotional campaigns.
Digital marketing will save small business owners lots of cash. Furthermore, digital marketing is already replacing expensive advertising mediums like TV, radio, magazines, and many more.
4. Digital Marketing Provides Real-Time Customer Service
The traditional marketing strategy cannot interact with customers directly, whereas a well-structured digital marketing strategy allows advertisers and marketers to connect with customers in real time. Not only that, digital marketing or online marketing is also a powerful mechanism for customer acquisition.
5. Digital Marketing Leads to Higher ROI
Whether it is a startup or a blue-chip company, ROI or Return on Investment is one of the significant indicators of business profitability. By executing a well-structured digital marketing strategy and web analytics, small business owners can precisely trace and measure where the leads originate and whether they’re taking action. This analytical data provide reliable reports of ROI.
6. Digital Marketing Helps in Attracting Mobile Customers
As more and more people are using their smartphones for shopping online at an increasing rate, a well-executed digital marketing plan can help your brand reach more mobile customers through social media, blogging, mobile advertising, and much more.
7. Digital Marketing Increases Trust and Credibility
It is difficult to conceal something online. So, when your company provides quality products and satisfactory services, your customers will share with their friends online, ultimately increasing the trust and credibility of your organization.
In addition, customers make a schedule online to chat about your customer services; they will talk about your product in their circle and eventually, allowing your company to sell more products and services. Overall, you’ll benefit from your digital marketing strategy.