With the advent of new marketing technologies, marketers and the SME businesses are doing absolutely everything they can to keep up with the changing times. This stands true for the average human being too. The winds of change are blowing and interesting trends are being noticed almost every day. The best example to be cited in this scenario is the way the brick and mortar businesses are either changing their business models to an online one or a hybrid of brick and mortar along with e-commerce. They’re even working really hard in implementing solid digital marketing strategies in an attempt to capture an ever growing and lucrative digital marketing space. To sum it up in one statement, the standard of tri-media advertising – print, TV, and radio – alone cannot reach every market, especially for brand building. Tri-media must now be supplemented, and often spearheaded, by digital marketing to tap the gargantuan market present on the web.
In the realm of digital marketing where businesses are heading, the tools and techniques provide the business owners the best chance to up their game against their competitors.
It isn’t too farfetched to suggest that the Internet isn’t just a conduit to purchase anymore, but also an influencer. Whether you’re looking for shoes, shades or just cereal, the Internet has changed how we decide what to buy. This online decision-making moment has even been branded as Zero Moment of Truth (ZMOT). The purchase journey has evolved and is inadvertently moving towards the ROBO behavior (Research Online, Buy Offline). A person who is knowingly or unknowingly following the ROBO model, ends up spending three to five times more than when they would otherwise.
Regardless of age or location, consumers are taking a far more pragmatic approach to purchasing anything. Comparing products online is far easier, simpler and faster than being in a mall. More and more people are making decisions at the Zero Moment – the exact moment when they have a need, intent or query they wanted answered online. How does this help a brand? By ensuring its presence at ZMOT, it is crucial for a brand to answer consumers’ questions or address their needs at just the right time. This gives a brand the edge by helping to improve a consumer’s life and stands to gain a competitive advantage over brands that don’t.
If there is still a doubt about going digital, here are a few things that might help brands take the plunge into the world of digital marketing:
Equal opportunity for every advertiser
Digital marketing actually levels the playing field, as it provides small and medium businesses the chance to compete against bigger competitors and attract their share of targeted traffic.
More cost-effective than traditional marketing
Small businesses start off with very little resources and capital. Digital marketing provides a better and much more cost-effective marketing channel that delivers results.
Generating better revenues
With lower overheads and outgoing costs due to digital marketing your business will benefit in terms of better and higher revenues.
Interactive advertising
One of the reasons why digital marketing is taking over traditional marketing channels is the ability to start a conversation with the target audience. Engagement in any form is what customers expect to receive when interacting with a brand or business. How the business handles such engagements and interactions could mean the difference between success and failure.
Easy to cater to mobile consumers
Mobile gadgets are not just alternatives to laptops and personal computers anymore, they are now self-contained ecosystems and this makes them important influencers on purchasing decisions. The present is the best time to have digital marketing campaigns intended towards mobile consumers, paving the way for them towards achieving better growth and faster expansion.
Better ROI and measurability of marketing efforts
Traditional media costs are too exorbitant for smaller businesses to rely on – or even afford – and the results are often vague and difficult to measure. Digital marketing on the other hand has the distinct advantage of being easily tracked and monitored. The results can be immediately measured as soon as the targeted audience provides their contact information, subscribes to a newsletter or makes a purchase. To succeed in digital marketing, the business must generate a steady flow of targeted traffic that can be converted into tangible sales and leads.
The key to success in digital marketing, however, is to generate a steady flow of targeted traffic that converts into sales and leads. The more a business generates this kind of traffic, the faster it can realize its ROI.
Digital advertising is certainly here to stay, as witnessed from some of the more successful campaigns. Some great strategies have been utilized that have improved the visibility of products and brands, and in some cases they’ve even completely revitalized the brand’s image. It is an efficient platform that can help brands adapt to the demands of the times and evolve an effective marketing plan and strategy.
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