Every company, small or large, invests in creating a ‘brand’, because the brand encapsulates its vision and is what customers identify it by. It is brand awareness, however, that gives your company visibility and facilitates growth, for both startups and established businesses. If customers aren’t aware of your product, they are not going to buy the product.
Traditional promotional methods, like radio, television and billboard advertisements worked perfectly fine until the 2000s, which was when the internet slowly took over. With the majority of today’s target audience now online, digital marketing is the most effective way for your brand to reach out to potential customers.
Here are 5 reasons why Digital Marketing is Important for business growth
1. Creates Visibility
At least 90% of today’s population is active on some online platform. With such a massive audience accumulated at one location, creating brand visibility becomes easier via online marketing. Through smart ad placement on social media and websites, your brand can reach the target audience with little effort.
2. Cost Effective
Digital marketing is not only more effective, but also cheaper than traditional marketing methods. Small and medium sized industries, and especially start-ups who run a tight budget can leverage digital marketing for promotion and not cause a dent in their funds.
3. Facilitates Customer Interaction
Digital marketing provides a platform for your customers to review your product, and provide feedback. This not only builds positive relations with existing customers, it also sows the seeds of trust in potential ones.
4. Helps Reach out to Mobile Customers
Almost everyone today owns a smartphone with internet connectivity, and carry it with them wherever they go. Digital marketing makes your brand visible to people irrespective of their location, through their mobile phones.
5. Analytics for Better Returns
Digital marketing tools come with a host of benefits, and analytics is a powerful one. Analytics provides reports on which of your marketing strategies are working, and which are not. This gives you the option to modify your marketing strategy on the fly and tailor it for maximum returns.
Striking a Balance
While digital marketing is clearly today’s best method for audience outreach, traditional marketing methods should not be completely ignored. Investing on basics like billboard and television advertisements along with full-fledged digital marketing is always the best way to promote a brand.