Up until 10 years ago marketing had been at a stand still. Companies knew what worked and knew how to expand their brand reach and sales conversions. Now digital marketing is here: youthful, vibrant and relevant. But should your company increase its digital advertising budget at the expense of traditional marketing? In the end all that matters is results, and that’s where digital marketing has come into its own.
It’s all Marketing, Isn’t it?
It sure is, but when it comes to budgets, especially for small to medium sized businesses which don’t have the millions to throw at TV and billboard ad-space, digital marketing provides more and costs less. Digital marketing is opening up new opportunities for businesses around the world. Let’s take a look at the numbers:
40% of the world’s population uses the internet, which includes one out of three people in developing countries – 3.2 billion people at the start of 2015 with that number set to double by 2020.
80% of those online use a mobile device.
E-commerce sales will be worth $1.4trillion by the end of 2015.
People no longer respond to traditional advertising. 86% of people skip TV adverts.
Big business knows the importance of digital marketing. 71% of all companies will expand their digital marketing budgets by at least 27% this year.
Other than throwing numbers at a problem, what do these stats actually tell us? They help us understand 3 important facts:
People no longer respond to traditional advertising in the way they once did.
More and more people are using the internet to shop and engage with businesses.
These trends will continue exponentially for many years to come.
The Benefits of Digital Marketing
Traditional marketing still has its place, but across most marketing campaigns digital approaches are clearly more important. Digital marketing provides:
Lower Costs: A good digital marketing campaign is vastly more affordable than traditional methods. Carrying out a social media campaign or buying advertising space online does not come with the overheads associated with traditional marketing.
Increased Engagement: Social media allows for direct communication between brand and consumer. The very nature of these interactions facilitates greater engagement with advertising content than is seen through traditional methods. Potential customers like statuses, take part in competitions, and comment on posts which keeps them more involved.
Direct Measurement: One of the most important innovations of digital marketing is that advertisers can see specifically how well marketing content is performing. These statistics are available through email clicks, social media likes, blog comments, status shares etc. This allows digital marketers to tweak and alter campaigns as they progress for better performance meaning that a company can be more confident that their product or service is connecting with a target demographic.
Competition: Unlike traditional marketing, digital advertising allows smaller companies to compete with much larger businesses which would normally be able to out muscle them in terms of connecting with consumers. A talented digital marketing team can put a small business on the map by engaging with potential customers through unique and effective copy, images, video, and other online marketing avenues.
Digital Marketing is the Future
There is no doubt that digital marketing has overtaken traditional advertising as the number one way to improve sales. For more information on how to create digital marketing content which will increase your customer base and promote sales growth, contact one of our talented marketing experts to boost your revenue.