With the growth of internet users across the world, businesses are undergoing a transformation in the way they operated. With the evolving needs of every business house, marketing functions are also moving from the traditional media to a more evolved, personal and direct connect with the consumer through digital marketing. It can be rightly said that digital marketing has broken down geographical barriers making the entire world a marketplace where potential consumers are waiting to be tapped. Digital marketing by this sense is more advanced and futuristic way of reaching out to the target consumers.
To understand the importance of digital marketing it is important to look at the various channels that are covered under this stream of marketing. Digital marketing comprises of Content marketing, social media marketing, Mobile marketing, video marketing, email marketing as well as search and SEO marketing. All of these put together help companies formulate constructive digital marketing strategies that help in achieving sales and business goals.
The future of marketing today lies in digital due to the benefits it offers to both the marketers and the consumers. Here are some of the most critical factors that highlight the importance of digital marketing in today’s business scenario:
For the Marketers
Print, television and radio have been the most traditional mediums of marketing for a long time. However, due to their reach they enjoyed a monopoly as far as the costs are concerned. With the advent of digital marketing, marketers now have an option of reaching larger masses with greater cost efficiency. Since digital marketing is still evolving, most of the channels offer cost effectivity for the businesses.
With the world wide web, the entire world is open for the marketers to explore by way of digital marketing. Traditional marketing came with geographical limitations which digital marketing overpowers effectively.
Companies that employ effective digital marketing strategies by having a right mix of all the channels, have chances of better and higher conversions and increased growth expectancy. Higher conversions automatically boost sales and generate effective brand awareness.
Boost for the startups:
If you are a start up then the role of digital marketing for your business becomes very critical. Digital marketing helps small start ups to compete with the larger brands on an open platform. On the digital marketing platform startups can engage their target audience creatively and even gain a competitive advantage over the bigger brands.
Best engagement platform:
Gone are the days when persuasive selling techniques were used to woo customers to a brand. In the world of digital marketing, the best way of engaging potential customers is by way of powerful content that interests the target consumers. Consumers today are well read thanks to the easy access to internet through smartphones. Before buying a product consumers like to read and gain information about them. Right information on the digital platform can give great boost to the brands to gain the trust of the potential customers.
Digital marketing unlike other traditional mediums of marketing can be easily measured. Online analytics help marketers assess the performance of their brands and also help them channelize the marketing spends towards the most deserving digital marketing channels. Timely checks help marketers save costs on wrong marketing spends, and help them in planning their marketing spends constructively.
For the Consumers
Consumer is the king in marketing, but it is digital marketing that truly empowers the consumers. Here are some of the key benefits the digital marketing provides consumers:
For The Consumers
Consumers today have access to a number of brands at the click of a button. With the huge variety and options available to the consumers digital market is definitely a marketplace that treats the consumer as the king.
Consumers today have very little chances of being mislead with the amount of information that is available on the digital platform. With content being readily available gone are the days when sales gimmicks used to be the only source of information for the consumers. Genuine feedback from actual users in the form of reviews also helps in consumers in making the right purchase decisions.
Competitive deals and prices:
Consumers today have the option of comparing prices and product quality online with the abundance of information available. This helps the consumers make the most viable decisions when it comes to buying products or services.
Future of Digital Marketing
Digital marketing is a trend that is certainly here to stay. Mobiles and smartphones are changing the marketing scenario and almost make for half the web traffic. Apps and personalisation options help marketers get up close with the end consumer making information easily accessible. Geo tagging features add to the reliability of information turning it into valuable data in the hands of the consumers. In countries like India, digital marketing is still in its nascent stage and awaiting to be utilised by the marketers to its maximum potential.