Marketing techniques have evolved as the ways in which consumers get information change. Radio advertising led to TV advertising, which then shifted to digital marketing with the rise of the internet. While TV remains a prime advertising medium for many businesses, digital marketing allows companies to reach a global audience online as digital marketing initiatives continue to grow at a brisk pace.
As the scope of digital marketing technologies evolves, companies are staying current by adding online components to their brick-and-mortar stores or combining various digital marketing strategies to create an internet presence. Because most consumers use smartphones and research products online before buying, digital marketing strategies are crucial to businesses. Companies also employ digital marketing to more easily target their audiences online and via mobile devices and many are seeing a significant return on investment (ROI) because of these efforts. These are the benefits of digital marketing:
- Ease of Audience Targeting
With digital marketing, businesses can use data to target audiences based on factors like gender, age, location, interests, and education. Companies can also retarget potential customers who are already familiar with their brand using different methods and messages for each audience. - Low Investment, High ROI
The cost per lead with digital, or inbound marketing, is 61 percent less expensive than traditional marketing. Businesses that advertise on social media, use paid search, and employ other digital strategies spend considerably less on their campaigns. This is because many companies use pay-per-click strategies to keep costs down and target specific audiences. Generally speaking, digital marketing campaigns offer both a greater and faster ROI. - Reaching Mobile Users
There are more than 14 billion mobile devices worldwide and that number is projected to grow to almost 18 billion by 2024. Because almost all smartphones have internet access, it is easier than ever for businesses to reach potential customers anywhere, anytime.
Regardless of the type of business, if your business doesn’t have a strategic digital marketing plan aligned with your business plan, you will lose out to competitors who are more digitally savvy.
Source: https://www.smartinsights.com/digital-marketing-strategy/digital-strategy-development/10-reasons-for-digital-marketing-strategy/