Since the beginning of the 21st century, technology has been expeditiously evolving causing changes in every part of our lives.
Companies have inexorably been affected by these changes and have started using information and communication technologies for product marketing and getting to know their customers.
Earlier, businesses reached their target audience through channels like television, radio, magazines, events and direct mail means using traditional channels and it was more than enough to keep business heads above water, however, this is no longer true.
Now people spend more time online, So companies to stand out in the competition reach potential customers through digital channels and strategies are so popular because of sheer convenience and efficiency. Everyone is understanding the benefits of digital marketing.
Therefore the scope of conventional marketing is not as effective and influential as it was and digital marketing provides the means and opportunity for businesses and entire industries to reach a far greater segment in undeniably more convenient and productive ways.
If there is one characteristic where the difference between small and large businesses is clear cut, it is resources.
The lack of adequate resources affects a small business on multiple levels including marketing. Conventional marketing needs a lot of money, that’s why every small business should have a digital advertising plan.
The above chart from Statistic shows how quickly the two trends are merging. See how the wide gap just eight short years ago has closed. The two lines have either overlapped or soon will. It’s quite evident that consumer attention has shifted from traditional to digital.
Top 14 Benefits of Digital Marketing
With the vast range of benefits of digital marketing in online advertising of products and services, it has become the prime medium for marketing worldwide. Every company needs to understand the benefits that it can derive from digital marketing which include:
When comparing the costs of digital marketing with traditional marketing such as tv ads, techniques of digital marketing like PPC, Search Engine Optimization, Search Engine Marketing can cost as little as several hundred/thousand every month in contrast with a single TV advertisement that can cost humongous amounts of money which is certainly not affordable for most companies.
Even if you use other methods of conventional marketing like newspapers and magazine ads they can fill out all your marketing budget and are also not as effective as digital marketing techniques
So digital marketing can be potentially more cost-effective and successful.
Even the most affordable and smallest methods of digital marketing can attract a large audience at a very low cost, so digital advertising has the potential of reaching a limitless amount of customers that too at substantially low cost.
Top 5 cost-effective digital marketing strategies include
It is extremely affordable. Also, it delivers an excellent return on investment.
You get direct access to your target audience and email marketing campaigns allow you to build a relationship with potential customers which enhances customer loyalty.
Search Engine Optimisation:
It is one of the most cost-effective strategies of digital marketing as it targets people actively searching for keywords relating to your product or service. It involves keyword research, content-marketing, blogging, on-site optimization, and content distribution. Search Engine Optimization is a long-term process and can help develop sustainable traffic.
It is cost-effective as it relies on your knowledge it allows you to build brand reputation, drive improved conversion rates and assist you in building authority.
It is indeed very cost-effective as it costs 62% less than outbound marketing and 3 times lead generation as many leads according to the content marketing institute.
Social Media Marketing:
Social media is very cost-effective yet a great marketing tool. It is particularly used for targeting specific demographics and is great for reaching a larger audience on a small budget.
PPC is very ideal if you are on a tight budget as it allows you to set your maximum spend. Your budget then gets divided between google ads, paid marketing, and retargeting.
It is cost-effective as it re-engages potential customers who have already shown an interest in your product or service.
To know more about these above-mentioned strategies or Internet marketing you can explore the courses offered by Digital Academy India.
It is crucial to know whether a particular marketing idea is working or not. In conventional marketing, the success of marketing promotion is difficult to track but in the case of digital marketing, every single tactic is measurable.
This is one major reason why one needs to invest in digital marketing.
In online marketing, it becomes really easy to know which tactic is working and which is not just by looking at real-time analytics and measuring them and allows you to change your campaigns accordingly to make them more effective.
Also, this allows you to carry forward the advantage of the knowledge and experience you gained from this process to enhance future campaigns.
Thus digital marketing analytics allows you to use your money efficiently and distribute your marketing budget as it takes the guesswork out and you focus your efforts on strategies that are most likely to improve ROI.
It allows precise audience targeting.
One of internet advertising’s strongest trump cards is its targeting capabilities as it allows digital marketers to target specific consumers based on their search histories or behavior online.
Behavioral targeting is so effective at deriving sales. Also, it offers plenty of personalization opportunities. A single personalized video or email can get your brand off the ground!
Conventional marketing tactics don’t offer the target capabilities as digital marketing does. It is certain in the case of digital marketing that content is consumed by the right audience.
SEO allows you to reach those customers who search the web for content and topics related to your company and social media and PPC helps you to target those who are most likely to be interested in your services based on interest.
4. You can reach your customer through social media:
This is one of the most important advantages as social media is the best way to reach your customers, unlike traditional techniques where you experience a limit in scope and size.
For example, print ads are restricted to a specific market, time, and place but reach in digital advertising will be farther and more targeted.
5 . It’s more engaging:
Internet marketing is much more engaging than conventional marketing as it has access to various types of interactive media.
Traditional marketers have limited advertising choices while online marketers can use various content types to attract different users and also it caters to different users’ tastes.
6. It has excellent ROI:
Internet marketing provides an excellent return on investment compared to traditional marketing advanced digital marketing techniques are significantly cheaper and provide more effective results. Investing the amount of money in paid digital ads is more effective and can generate way more conversions.
7. It enables in-depth performance tracking:
Online advertisers get access to ad metrics and performance in google ad manager.
Various internet tools for marketing help you get access to relevant data and allow you to adapt on the fly and tweak underperforming campaigns and this isn’t possible in conventional marketing.
8. It’s effective for building brand awareness:
Investing in digital marketing is one of the best ways to build brand awareness especially in content and SMM.
GoogleAdWords serves over 30 billion ad impressions a day and with such massive potential for exposure, brands worldwide don’t penny-pinch on advertising.
9. It has a vast reach:
Online marketing is globalized and this has increased plenty of business opportunities for business owners to expand businesses beyond a single country’s borders.
10. It builds stronger relationships:
Brands need to stand out in this ever-growing sea of competition if they want to succeed therefore building a relationship with an audience is critical to success.
Establishing a strong presence on social media channels is a surefire way to earn customers’ trust.
11. It is more time-efficient:
A conventional marketing plan requires so much time to prepare but digital ones don’t, launching an online campaign is much quicker.
A digital marketer can easily design, implement and monitor multiple campaigns simultaneously saving a lot of time and resources.
12. You can automate it:
There are plenty of tools that can help you streamline your digital marketing campaigns. Streamlining using automation tools helps businesses cut costs and optimize marketing endeavors.
13. SEO helps you reach online to more potential buyers:
SEO helps you to reach more buyers and is indeed one of the most important tactics.
You can optimize your website content for search engines by using specific keywords to better explain your product or service to get more targeted traffic to your website which will, in turn, improve conversion SEO can help local businesses as most buyers look for local shops and 28% of searches for something nearby result in a purchase so local SEO can be really helpful for companies operating in different regional areas.
14. Digital marketing helps communicate with consumers on the smartphone:
Digital advertising allows you to communicate with your customers who are browsing their mobile phones and consuming content. You can reach a large audience, especially the younger lot who access the internet through mobile phones.
Conclusion on benefits of Digital Marketing
Above were the digital marketing benefits.
With the increasing rate of technological developments, smartphones, tablets, and other electronic devices have become common everyday items.
Correspondingly, people who use social networks and emails have been using digital media for shopping. Search engines make web surfing much easier for people.
In addition, the process of decision-making in purchasing has become much less difficult for promotional videos and comments about the product to help customers decide.
The most important difference between digital and conventional marketing is that in digital marketing the data is used properly.
So, digital marketing is probably the best option. If you want to reach a wider audience while keeping costs low, go for digital marketing.
It allows you to collect valuable information on your audience immediately so that you can create an even more effective marketing campaign.
However, traditional marketing still exists.
If you want to reach local people, conventional marketing methods may be more fruitful and stand out better than digital marketing methods.
When you consider which marketing strategy is best for your business, consider your audience, where they get their information from, and use that to make your choice.
Want to kickstart your career in the Exciting Field of Digital Marketing?
Undoubtedly, digital marketing is the future.
Younger generations have not known a time without smartphones, and they are starting to enter the workforce backed by another generation that will be even more digital.
Therefore every company and brand needs a digital marketing strategy to survive in today’s world, so there are plenty of career opportunities.
If you are interested in joining this exciting field, check out the Digital Vidya’s Executive Program in Digital Marketing, in partnership with Deakin University, Australia which provides comprehensive training on everything you need to know to thrive.
Frequently Asked Questions
Q1.What are the benefits of digital marketing for students?
Completing digital marketing training can be beneficial for students in many ways, both professionally and personally. If you don’t understand digital marketing, you won’t succeed in business today.
With the skills you have acquired during the training, you can improve and promote all your strengths on various platforms, such as your own website, social media account, newsletter, Google Ads, and many more.
With the development of the digital nomadic lifestyle, students are also looking for careers that will provide them with flexible schedules.
When digital marketing is done online, it doesn’t matter if you are in the office or working in a cocktail bar on a tropical beach.
Q2.What are the benefits of digital marketing during covid-19?
People are spending way more time online than ever before therefore businesses have been forced to focus on their digital strategy.
Digital Marketing has transformed the world of marketing and advertising. It has benefited the brands and marketers for implementing marketing strategies during the covid period. Some of the major benefits include:
- Analyzing user behavior and retargeting
- Monitoring results in real-time
- Establishing a strong brand presence through digital advertising
- Prioritizing product lines
- Strengthening omnichannel strategies
Q3.What is conversion rate optimization?
It is the process of increasing the percentage of website visitors who take the desired action the Conversion Rate Optimization process involves understanding how users move through your site and what actions they take.
Q4.Can digital marketing increase online sales?
Yes, the goal of internet advertising is to improve website traffic and online conversions thus helping you reach overall business goals.
It helps you to reach a more qualified audience to market your products which leads to more sales for your online business growth.
Digital marketing can really help small businesses to grow.
Q5.What digital marketing tools should we use?
The tools you use should depend on the goals of marketing. few relevant tools for every business include Google search console, Google Analytics, Facebook pixel, Google my business, Google keyword planner, SEMrush.