Seven reasons why digital marketing is a boon for business
Marketing today has expanded to include a plethora of channels. OOHs, television, radio, print, you name it. However, one channel that has taken the world by storm is the digital medium. If your business doesn’t have an online presence yet, it’s probably time to re-think your marketing strategy.
The online platform provides brands opportunities to present themselves in a way they could not have imagined a decade ago. Today, it’s not just about selling your product; it’s offering a lifestyle. And digital advertising is the perfect tool to help brands to do just that.
Seven reasons why digital marketing is a boon for businesses:
- Information & insight
Digital advertising is all about data. With valuable insight on metrics such as impressions, engagement, conversions, assessing the most effective channel, ad location, website traffic, searches, etc. becomes easier for marketers. Such metrics are also used for taking business appropriate decisions on strategies, tactics, budgets and the like.
- Targeting customers
Marketers can leverage digital advertising to target customers with great precision. The presence of a wide variety of tools enables them to track customers across a multitude of channels, segment them into specific criteria, target and also retarget them. Digital advertising helps marketers to gauge the profile of an ideal customer. Once that is clear, they can easily implement online tools to target similar kinds of customers across regions and demographics.
Customization is a benefit that sets apart digital advertising from the rest of the traditional channels of marketing. Based on consumer data and profile, businesses can send customized marketing materiel to prospects. This personalized content goes a long way in attracting users. For example, sending a special fitness promotion offer to someone who is interested in sports makes more sense than spamming everyone with it. It reduces wastage of valuable resources and also leads to a high conversion rate.
- Being creative
Gone are the days of using only newspapers and hoardings to attract customers. Today, it’s all about spreading excitement and creating association with the brand. Online advertising allows brands immense creative space to think on how they can engage and attract users. With a dozen social sharing websites available, brands can share stories, create hashtags, post blogs, share videos, thus indulge in media creation and sharing. The digital age is all about being creative and different from the crowd.
In the online world, marketers have the flexibility to respond to incoming data and make changes instantly. With the click of a button, they can instantaneously pause campaigns or adjust their strategies. This means that businesses can be more responsive to market conditions.
- Automation, scale & cost
With the emergence of ad technologies, advertisers can bid for their ads in an virtual exchange. The highest bidder is chosen and that particular advertisement is displayed to users. Such complex operations have been fully automated. This means great scalability, no bottlenecks and no human interruptions leading to sub-optimal performance.
When it comes to cost, advertisers can get an insight on the kind of ads that are doing well. With this information, they can adjust their budgets accordingly. Thus, marketers can now manage their campaigns, choose their spending, scale and optimize across all networks as they see fit.
- Engagement level
No other marketing channel can provide data on engagement level as accurately as online marketing. It’s true that marketers can gain an overall picture of say, subscription level, readership etc., but they would not be able to assess whether their readers are truly engaged or not. By analyzing data like impressions, traffic, bounce rate, marketers know exactly what makes their customers tick.
Preethi Vagadia is currently a Senior Business architect with the Service operations practice at a well-known IT Industry in Bangalore. She has worked in several process improvement projects involving multi-national teams for global customers. She has over 8 years of experience in mortgage technology and has successfully executed several projects in logistics management, logistics integration, reverse logistics, programmatic software solutions, and warranty software.