6 reasons why Digital marketing is beneficial
Did you know, according to research 4.66 billion active internet users are observed every day and over 900,000 new users log in each day. Wondering why we are talking about these statistics? Well, the answer is very simple! The clock is ticking and saying that it’s time to shift your marketing plans into the digital realm. Because of the rapid advancement of technology and the tremendous increase in the number of internet users, the marketplace has become increasingly digital. Digital marketing has now become a fundamental component of every industry. From startups to large-scale businesses everyone has shifted themselves to digital platforms and blowing triumphs of success.
Below we are shedding some light on how and why digital marketing is beneficial.
1. Affordable: According to Gartner’s Digital marketing spend report, 40% of businesses claimed to save a considerable amount of money through digital marketing as the promotions and services cost significantly less as compared to traditional marketing. In addition, the reach and conversion rate is also higher than of traditional marketing
2. Target Audience and interaction: Through digital marketing, we can easily dissect the demographics and break them down into a very focused group and target specific people. Through this, we can achieve remarkable results because the concept successfully helps in reaching our target audience. Not only this, but it also assists us in communicating with our target audience and learning about their needs and opinions so that we can enhance our services and keep them satisfied. Always keep in mind, customers will appreciate it if you pay attention to their remarks and desires.
3. Exponential growth of the business: A solid web presence can benefit any expanding or prospective firm. Businesses with an internet presence have a higher chance of surviving, competing, and growing. The rate of engagement improves dramatically as a result of digital marketing; the higher the rate of engagement, the greater the growth.
4. Lead conversion and better revenue: Digital marketing generates a consistent flow of targeted audiences that converts to leads and sales. The rate of conversion determines the rate of revenue. By using various conversion tools and techniques, conversion optimization becomes effective and produces a more than average rate of conversion. Google confirms, according to a study conducted by IPSOS Hong Kong, organizations that use digital marketing techniques have a 2.8 times higher revenue growth expectation than those that do not. Companies that use digital marketing are 3.3 times more likely to expand their workforce and revenue.
5. Builds a brand’s reputation: According to the world economic forum reports, a company’s reputation accounts for 25% of its market value, and 87 percent of executives consider reputational risks to be more critical than other strategic risks. Digital media helps in understanding and fulfilling consumers’ needs, which conduces in earning the trust of end-users and builds a strong presence in the market as they share their good experience with others making the brand efficient, reliable, and trustworthy.