We live in a world where the internet is the fundamental source of information. With people relying greatly on the World Wide Web, it has become paramount for businesses to invest in effective digital marketing strategies today. With digital marketing, the companies today have an opportunity to reach out to the audience who are prospective customers and clients that are beyond their immediate geographical boundaries. Therefore, the marketing prospects of organizations that were once limited, have now transversed into infinity.
The primary reason why digital marketing is a dominant trend today is because of the far-reaching connection it avails. With effective digital marketing, you have the opportunity to promote your products and services worldwide with a few clicks. Owing to the digital advertising, today brands have a real-time connection with their customers and vice-versa. They are aware of the queries and expectations of their audience and hence have the informative opportunity to enhance their experience.
Digital marketing plays a great role in generating ROI’s, driving traffic, elevating sales, and so much more for progressing businesses of today. Companies which already have an online presence are beefing up their marketing strategies, and others are rapidly moderating their business models to ensure compatibility with the promptly evolving digital world. The infographic below by Contentualize shows the role of digital marketing in business development.
Contrary to the traditional marketing methods, the scope of digital marketing isn’t restricted to flourishing conglomerates; rather it equally caters to the SME’s as well. In the past, investment on marketing was only meant for the affluent demographic whereas the small and medium scale businesses had to settle for small, within their reach methods with almost a negligible guarantee of success. However, with the advent of digital marketing, the entire perception of marketing has transformed for the better.
Additionally, the significance of online marketing amplified due to the fact that it equally caters to the SME’s as it does to the conglomerates. The cost-effectiveness of digital marketing strategies has given SME’s a host of opportunities to thrive in the market and compete head-on with the established firms. Contrary to the traditional marketing methods, online marketing is not based on a hit and try, where analysis is a complicated task. Instead, each strategy in digital marketing is backed by extensive research and analysis and the marketers can now measure the impact of the same. There is a transparency in the marketing realm that has certainly transformed the business world for the better.
The market witnesses new technologies every day, digitizing businesses with every passing phase. This has forced marketers to do everything in their power to remain in the game and keep up with the ever-growing customer demands and expectations. And the advent of digital marketing has made it possible for these marketers to directly communicate with the audience across the globe at just the click of a button.
Owing to the advent of technology, businesses, irrespective of their scale of operations are investing everything they have to keep up with the dynamics of today’s digital market.
Irrespective of what many traditional businesses may believe and adopt, digital marketing has churned out to be the necessity of the hour. It has proven to be the ingredient without which any marketing campaign lacks the desired flavor to stir the appetite of a potential audience.
Let’s delve into some of the statistics that will help in adumbrating the importance of digital marketing.
● 72% marketers considered traditional marketing methods inadequate and moved towards digital marketing strategies to increase their revenue.
● Approximately 49% of companies have invested in a digital marketing plan, and the numbers will substantially rise in the coming years.
● In the coming years, over 80% of companies will increase their digital marketing budget which is speculated to go beyond the overall budget of the IT sector.
These statistics clearly indicate that digital marketing has become the need of the hour, if not the need of yesterday.
Earlier, small businesses were focused on competing within the local market. Globalization and digitization has led to the growth of both, omnipresent opportunities and omnipresent competition. Other than effective digital marketing ideas, businesses need to come up with strategies to make an abiding impact on their audience. The only way to survive today’s cut-throat competition is to ace that competition, and adopting an effective digital marketing strategy gets you a step closer to achieving it.
About the writer: Aditya Harlalka is the founder of Contentualize, a one-stop solution for all requirements in the content creation domain and digital marketing.
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