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Why the Role of Digital Marketing is Vital to Your Business Growth

Author: Shijo Date: 20/10/2018 Category: Augmented Reality

There’s a difference between surviving and thriving, and as a business owner, you’re probably familiar with it. But are you familiar with the role of digital marketing as it relates to your business?

If a business is surviving, it’s doing okay. It’s breaking even, the owner is relieved.

But if a business is thriving, it’s growing. Its revenue is increasing by leaps and bounds. Company employees are happy, and the owner is excited. It feels good to be in charge of a growing business, right?

The question is though: what helps a business not just survive, but thrive? Lots of factors help businesses grow, but one of the most important is digital marketing.

The role of digital marketing is absolutely essential for business growth in today’s day and age. Are you taking advantage of the Internet and advertising your business through online strategies? If not, you should–and we’re about to tell you why.

Let’s break down what digital marketing is, why it’s so important, and why the role of digital marketing plays such a pivotal part when it comes to business growth.

What Is Digital Marketing?

Digital marketing refers to any marketing effort that involves the Internet or an electronic device. If marketing exists online, it’s classified as digital marketing. That means social media marketing, content marketing, and SEO are all under the umbrella.

Digital marketing has been rising in popularity over the last several years. And there’s a simple reason why: the world is online. Technology Review gives us the stats–in 2000; the average American spent about 9.4 hours online. Today, most people spend 24 hours a week on the Internet, most of the time using their smartphones.

Internet usage is growing, and as a business owner, you’ve got to take advantage of this. Know where the role of digital marketing stands in your business — or you’ll be left behind.

The Role of Digital Marketing is Perfect for Small Businesses

If you have a small business or a start-up, you probably don’t have much money, time, or manpower to invest into traditional marketing techniques. But that’s okay! You don’t need a fancy building with hundreds of people on staff. You just need a simple but solid digital marketing strategy.

Your Size Doesn’t Matter When the Internet came around, the playing field leveled out. Digital marketing makes it easier for small businesses to compete in a big marketplace. It gives them an opportunity to quickly catch up to their big-name counterparts.

It Costs Less

Digital marketing not only saves time and doesn’t require a large personnel, it’s cost-effective. Gone are the days of renting out a big billboard to spread the news about your company. All you need to market your business now is a laptop and some know-how.

Compared to other types of marketing, digital marketing will get you a better cost-per-lead (CPL is a metric that measures how cost effective a given marketing campaign was). Having a low CPL is your goal.

When it comes to lead costs, social media and email marketing tie for top strategy. How many times a day do you check your Facebook or your email? It’s probably a lot… which is why these platforms are so important.

No matter how small your business budget is, you can still implement some kind of digital marketing strategy: send a few sales emails. Write an SEO-optimized blog post. Create social media accounts for your brand.

Digital marketing is the closest to free as you’re going to get when it comes to advertising. With data that shows more traffic at a smaller cost – it’s is something you’d be crazy not take advantage of.

Digital marketing makes it easy to start small and grow big.

Digital Marketing is Easy to Track

Your goal is simple: conversion. You want the people visiting your website to download that lead magnet, join your email list, and eventually become your newest happy customer. And with digital marketing, tracking your conversion rates is a breeze.

High conversion rates equal business growth, and the Internet makes it simple for you to keep an eye on what’s converting well and what’s not. The role of digital marketing makes it simple to increase your conversion rate. For one thing, it’s easy to run split tests and see what works best, allowing you to hone in on what’s most effective with your prospects and customers.

For another, social media allows you to personally interact with customers on a daily basis. Customers are more likely to purchase from a business that they have a good working relationship with.

You can even optimize your website to be both desktop and mobile friendly. Smartphones are used in over one-third of total world retail sales, so it’s important to cater to the mobile customer.

Digital Marketing is the Future

Digital marketing is huge, and it’s not going away anytime soon.

We’ll prove it to you: $120 billion is the amount the U.S. will spend on digital marketing in 2020, Boostability says. That number equals almost half of the total amount spent on media. The role of digital marketing is rising dramatically.

Boostability lists more stats: from 2016 to 2021, the amount spent on social ads is expected to double ($15,016 to $32,977). The amount spent on display ads and online videos will increase, too.

Before long, digital marketing is expected to outperform conventional marketing strategies. People simply prefer online content. Kevin O’Kane, managing director for Google Marketing Solutions of Google Asia Pacific, described the Internet as rocket fuel when it comes to business growth. And he’s right.

“Every business needs to be online and digital,” O’Kane said, according to BusinessWorld. “To keep growing, SMBs [small and medium businesses] need to meet consumers where they spend an increasing amount of their time, online. Online, your ‘local’ market is as big as you want it to be.”