What is digital marketing?
Digital marketing, also known as online marketing, is the promotion of brands and products through digital channels such as websites, social media, mobile devices, search engines, and other digital media platforms. It involves marketing to consumers through any number of digital channels and is different from internet marketing, which is exclusively done on websites. Digital marketing has become increasingly popular since the advent of the internet in the 1990s and has changed the way brands and businesses approach consumers and understand their behavior. Businesses commonly blend traditional and digital marketing techniques.
How does a business define digital marketing?
A business can define digital marketing as the use of digital channels to promote their products and services to reach potential customers. Digital marketing involves advertising through various digital channels such as social media, mobile devices, search engines, websites, and other digital media platforms. Unlike internet marketing, which is only carried out on websites, it is distinct. Since the internet’s invention in the 1990s, digital marketing has grown in popularity and altered how brands and companies interact with consumers and perceive their behaviour. Businesses frequently blend traditional and digital marketing strategies. Therefore, a business can define digital marketing as a way to reach potential customers through digital channels to promote their products and services.
Why is digital marketing important?
For several reasons, digital marketing is crucial for businesses. Firstly, it allows brands to reach their target audience and promote their products or services. Secondly, it is effective in all industries and connects businesses with their customers when they are online. Thirdly, digital marketing has the ability to reach target audiences, drive sales, and increase revenue. Fourthly, it allows businesses to use tactics like social media marketing to promote their products and services. Lastly, digital marketing is important for small businesses as it helps them realize that their customers are online and find out what their customers are looking for4. In summary, digital marketing is important for businesses as it allows them to reach their target audience, increase revenue, and connect with their customers when they are online.
1. Audience engagement is made possible by digital marketing at every stage.
Digital marketing allows businesses to engage audiences at every stage of the customer journey. By using digital marketing tactics such as social media, email marketing, and content marketing, businesses can reach potential customers at every stage of the customer journey, from awareness to purchase and beyond1. For example, businesses can use social media to build brand awareness, email marketing to nurture leads, and content marketing to educate customers and build brand loyalty. Digital marketing also allows businesses to personalize their messaging and offers based on where a customer is in the customer journey. This helps businesses build stronger relationships with their customers and increase the likelihood of conversion and repeat business. Therefore, digital marketing is an effective way for businesses to engage audiences at every stage of the customer journey and build stronger relationships with their customers.
2. Digital marketing can increase the quality of your leads and conversion rates.
Digital marketing can improve a business’s conversion rate and the quality of their leads12345. The percentage of website visitors who become leads is referred to as the conversion rate. Digital marketing can help improve conversion rates by targeting the right audience with the right message, using effective calls-to-action, and optimizing landing pages1. By targeting the right audience, businesses can attract visitors who are more likely to convert into leads and customers. In addition, digital marketing can help improve the quality of leads by using tactics such as lead magnets, which offer valuable content in exchange for contact information. This helps businesses attract leads who are genuinely interested in their products or services and are more likely to convert into customers. Therefore, digital marketing can improve a business’s conversion rate and the quality of their leads by targeting the right audience, using effective calls-to-action, and optimizing landing pages.
3. It’s easier to modify and alter a digital marketing strategy.
One of the advantages of digital marketing is that it is easier to adapt and change a digital marketing strategy. Digital marketing allows businesses to make changes to their campaigns in real-time, which is not possible with traditional marketing methods. For example, businesses can adjust their digital marketing campaigns based on the data they collect from website traffic, social media engagement, and other metrics. This allows businesses to make data-driven decisions and improve their strategies to better reach their target audience. In addition, digital marketing allows businesses to test different strategies and tactics to see what works best for their business1. Therefore, digital marketing is easier to adapt and change, making it a more flexible and effective option for businesses.
4. Digital marketing is measurable.
Digital marketing is measurable, and its effectiveness can be determined by analyzing various metrics. Identifying the total effects of campaigns on the business is necessary for measuring the efficacy of digital marketing. There are several metrics that businesses can use to measure the success of their digital marketing efforts, such as overall site traffic, new vs. returning visitors, bounce rate, click-through rate, conversion rate, and cost per acquisition. These metrics help businesses understand how their digital marketing campaigns are performing and make data-driven decisions to improve their strategies. The challenge of capturing and using data effectively highlights that digital marketing requires an approach to marketing based on a deep understanding of consumer behavior. Therefore, digital marketing is measurable, and businesses can use various metrics to determine the effectiveness of their campaigns and make data-driven decisions to improve their strategies.
Website Traffic
Website traffic refers to the number of visits or sessions that a website receives over a specific period of time1. It is a common way to measure the effectiveness of an online business at attracting an audience1. There are several tools available to measure website traffic, with Google Analytics being the most popular free tool. Measuring website traffic is important because it helps businesses understand how their website is performing and make data-driven decisions to improve their strategies. In addition, monitoring website traffic by source can help businesses understand which marketing campaigns are driving traffic to their website and which ones are not3. By tracking website traffic, businesses can see if their digital marketing campaigns are working for their business and make data-driven decisions to improve their strategies. Therefore, website traffic is an important metric for businesses to measure and monitor to understand the effectiveness of their online presence.
5. You can compete with larger companies since digital marketing in your industry has levelled the playing field.
Digital marketing allows small businesses to compete with bigger brands and evens the playing field within their industry. Small businesses can benefit from converging their traditional and digital marketing to reach a global marketplace of prospects online. Digital marketing helps brands reach their target audience and promote their products or services, allowing them to target a more specific or niche audience. Digital marketing offers many advantages over traditional advertising methods, such as print ads and direct mail, billboards, TV, and radio. It allows brands to do more with their resources while empowering the customer to do business with that brand on their terms. Therefore, digital marketing is important for small businesses as it allows them to compete with bigger brands and reach a global marketplace of prospects online.
6. It costs less than outbound marketing techniques.
Compared to outbound marketing methods, digital marketing is more cost-effective. Outbound marketing methods, such as email blasts and outsourced telemarketing, are costly and have a lower return on investment (ROI) than inbound marketing. Inbound marketing, which is a type of digital marketing, is cheaper because it is customer-driven and there is no need to interrupt a customer’s activity to get their attention1. Research shows that inbound marketing costs 62% less per lead than outbound marketing. In addition, three out of four inbound marketing channels cost less per lead than outbound marketing channels. Therefore, digital marketing is more cost-effective than outbound marketing methods, making it a more attractive option for businesses.
7. It is separate from internet marketing, which is only done on websites.
Targeted digital marketing allows businesses to focus their efforts on only the prospects most likely to purchase their product or service. This is achieved by specifically targeting ads or content to a set of audiences based on specific demographic, psychographic, and/or geographic factors1. Audience targeting allows businesses to be more accurate when choosing who sees their ads and reach users across the web based on their interests, behaviors, and other factors. Targeted marketing is a strategy to spread awareness of a good or service within a narrow segment of the general public In summary, targeted digital marketing is an effective way for businesses to focus their efforts on the prospects most likely to purchase their product or service by specifically targeting ads or content to a set of audiences based on specific factors.
