Digital marketing is the component of marketing that uses the Internet and online based digital technologies such as desktop computers, mobile phones and other digital media and platforms to promote products and services. If you want to understand the importance of digital marketing in today’s day and age, then you need to know that there are various factors that influence it.
Marketing techniques have evolved as the ways in which consumers get information change. Radio advertising led to TV advertising, which then shifted to digital marketing with the rise of the internet. Besides these natural market progressions, the COVID-19 pandemic is driving the scope of digital marketing even further online.
More than half of consumers discover companies through social media news feeds. Companies can reach almost 1 million customers via Instagram alone, and more than 9 million businesses use Facebook to connect with consumers. Companies leverage social media platforms for both business-to-business (B2B) and business-to-consumer (B2C) digital marketing campaigns.
As the scope of digital marketing technologies evolves, companies are staying current by adding online components to their brick-and-mortar stores or combining various digital marketing strategies to create an internet presence. Because most consumers use smartphones and research products online before buying, digital marketing strategies are crucial to businesses. But companies across the globe also employ digital marketing to more easily target their audiences online and via mobile devices — and many are seeing a significant return on investment (ROI) because of these efforts.
With digital marketing, businesses can use data to target audiences based on factors like gender, age, location, interests, and education. Companies can also retarget potential customers who are already familiar with their brand using different methods and messages for each audience. There are advanced online marketing certifications that can help digital marketers learn how to best target audiences.
The cost per lead with digital, or inbound, marketing, is 61 percent less expensive than traditional marketing. Businesses that advertise on social media, use paid search and employ other digital strategies spend considerably less on their campaigns. This is because many companies use pay-per-click (PPC) strategies to keep costs down and target specific audiences. Generally speaking, digital marketing campaigns offer both a greater and faster ROI.
There are more than 14 billion mobile devices worldwide, and that number is projected to grow to almost 18 billion by 2024. Because almost all smartphones have internet access, it is easier than ever for businesses to reach potential customers anywhere, anytime.
The Covid-19 pandemic has truly transformed how businesses carry out operations. With health and safety concerns many businesses opted to virtually market their brands and also take customer interactions online. Right from groceries and medicines to clothing, the world has taken to the internet.
Let’s talk a little about the pre-covid era. Small businesses in India account for about 95% of the country’s economy. Many of these small to mid-sized companies did not believe in their capabilities when it came to technology. However, with the Covid-19 pandemic hitting the world, there came a need to adapt. Change is a constant need for effective evolution – there was a complete digital transformation in business overnight. According to a survey, 59% of these companies accelerated their digital marketing efforts and 66% of them completed digital marketing tasks that previously seemed to be a huge challenge.
They delivered more results as well and saved on various traditional marketing costs. Many say that the Covid-19 pandemic has really brought about permanent changes in operations and the workings of an organization. Cloud-based business activities are saving time and also witnessing bigger results.
So it is pretty evident that the pandemic didn’t stop this industry from growing and in fact, gave it a major boost. Read on to find out the importance of digital marketing for businesses and students which will compel you to upskill yourself in digital marketing.
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