May 24, 2016
Thanks to the Internet, advertisers are now able to build real relationships with prospects and customers through low-cost, regular and highly personalized communication – all easier than ever done before. Digital marketing has aligned itself perfectly with the way consumers are making their purchasing decisions. Consumers are also increasingly turning to social media and mobile marketing for the best online shopping experience. There’s no doubt about it – online advertising has become crucial to just about any and every brand out there, large or small.
A 2015 report by technology research specialists Gartner Inc. states that digital strategies such as mobile marketing and social media will influence at least 80 percent of consumer’s spending in the near future. That should be reason enough for you to take a closer look at the top six reasons why businesses are pouring more and more of their advertising budget into digital space.
Understanding digital marketing means taking advantage of the impact social media has on it. There’s a significant correlation between social media and the growth of online revenue. An article by Harvard Business School Executive Education also corroborates this – claiming that “consumers who respond most strongly to the influence of social networks have the ability to increase sales by around 5 percent”.
No wonder then that companies are jumping on the bandwagon and incorporating social networking tools to draw attention to their online marketing campaigns.
Digital marketing also allows for an interesting platform to build customer relations and retain brand loyalty. Customers who buy products from an online store can be followed up by confirmation emails and personalized thank you notes. These emails may seem small, but they play a big role in promoting a real sense of community for both the business and customer.
Increase the Reach
The ease of digital marketing has eliminated the challenges of being location-specific. Goods can now be sold both locally and worldwide, without the need for traditional outlets. Savvy businesses use localization services to ensure their products are suitable for sale in local markets and meet all tax and commercial regulations. Additionally, localization services invariably include translations and product modifications to reflect eventual differences in the local market.
Building a digital business means appealing to a 24/7 market, enabling companies to do business around the clock without worrying about opening hours or overtime payments. As an added bonus, it’s also incredibly convenient for consumers who like to browse online stores and place orders at unconventional hours.
Marketing on the web enables businesses to build personal profiles, allowing them to analyze consumer preferences and purchasing history. For instance, prospects who visit websites looking for product information are tracked and then targeted with offers that reflect their individual interests. This information is also valuable when planning cross-selling campaigns, which can greatly increase the value of sales from each customer.
Cut the costs
Marketing on the web costs less than conventional marketing through a physical retail outlet. Additionally, companies are spared the recurring costs of property maintenance and rental. The best part is with digital marketing no stock is needed for store displays. Orders of new stock are coordinated with consumer demand, which also keeps the costs of inventory and storage space as low as possible.
Investing in your online advertisement, just like any other aspect of your digital business, in incredibly important in ensuring your business’s success. Following these tips can help lead you to more success and an easier time with connecting to the customer market. So what are you waiting for? Try it today.
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