This is a question that I get often from small business owners. Digital marketing seems like a mysterious path to success, but I’m hear to tell you it’s not so complicated after all. Here are a few reasons digital marketing is necessary to succeed.
What is Digital Marketing?
First, we need to define digital marketing. For this article we define it as any marketing done digitally. For example, search engine optimization (SEO), PPC advertising, and digital web advertising are all examples of digital marketing in action. You could also include email marketing and social media marketing in this category.
Why Do I Need Digital Marketing?
Consumers Start Their Product Search Online
According to HubSpot, 87 percent of consumers start their search for a product or service online. If you don’t have any type of online presence, you are losing multiple opportunities to get in front of your target audience! Don’t believe me? Think about the last purchase you made. It could have been an electronic device or something else altogether. Did you go to the store to start your search? Or did you look online for “best refrigerator” or “most reliable vehicle”? Chances are that you started your search online- just like most other people!
Traditional Marketing has a High Barrier to Entry
These days traditional marketing like radio and television ads are extremely costly and provide little benefit for small business owners. This type of marketing works well for large companies like Coca-Cola, Target, or Netflix, because they
1.) Have the resources to purchase these ad slots.
2.) Target a large segment of the market.
But, for small businesses, the cost really isn’t worth the type of exposure received (except for a few niche markets).
Digital Marketing Offers Flexibility
Another significant reason to pursue digital marketing in favor of traditional marketing is that it offers a sense of flexibility. With a pandemic wreaking havoc on the country, it pays to remain flexible. Digital marketing offers flexibility in cost and execution. For example, you could easily launch digital marketing campaigns within a few weeks instead of having the longer lead times that print, radio and television require.
On the flip side, you can also adjust or stop a digital campaign far easier than you could with the aforementioned techniques.
Better Return On Investment (ROI)
The bottom line for most business owners is “what will my ROI be?”. The good news is that digital marketing often offers a better return on investment than other methods. For example, according to Lauro Media, the ROI for email marketing is 122 percent! In addition, Google Ads usually has a 2:1 ROI. So, for every one dollar you spend, you make two dollars. Great, right?
The bottom line is that digital marketing is absolutely necessary in our ever changing world. It’s a fantastic approach for small business owners who need wide reach with low cost. To learn more about digital marketing, subscribe to our blog or schedule your free consultation with our marketing expert.