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The marketing industry is slowly but surely moving away from the traditional channels of advertising such as television, radio, and newspapers and is entering the digital world of e-mail, social media platforms and brand websites. This, of course, doesn’t mean that traditional marketing efforts need to be completely replaced by the digital ones. Quite the contrary, a smart business owner uses both digital and traditional marketing in order to achieve the most optimal results. That said, let’s go over some of the major benefits digital marketing has for small and developing businesses.
1. Hyper-precise targeting
Digital advertising allows for extremely precise levels of targeting. Marketers use large sets of data such as age, gender, geographical location, religious views and personal preferences in order to create ads tailored to individual users. This allows businesses to market their products and services only to people who actually intend to purchase and use them, instead of placing an ad in hopes that a potential customer might end up seeing it.
2. Real-time results
Traditional advertising requires a lot of time before the results of the marketing campaign become apparent. Digital marketing, on the other hand, provides business owners with real-time user data including the number of website visitors, conversion rates, peak trading times and much, much more, all at a single touch of a button. This information can quickly be used to refine the overall advertising strategy and by the time you get the results from the traditional advertising efforts, you will already have a new and refined digital strategy set in motion.
3. Conversion optimization
The real-time results obtained by using digital advertising and measurement tools can be used to test and optimize your brand website for future conversions. Tracking existing and potential customers throughout the entire journey from clicking on your website to completing the purchase, you’re presented with a vast amount of user information you can use to further refine and improve your conversion efforts.
4. Mobile outreach
Ever since Google made the announcement that over a half of all search queries are now made using a mobile device, more and more business owners have begun optimizing their websites and shopping experiences in order to cater to their mobile users. Besides the obvious reason ‒ the sheer amount of people using mobile devices throughout the day‒ you should follow their example because Google has also included mobile-friendliness as one of their criteria for website ranking in the search results. Not catering to your mobile users is not only a bad business move, but can result in Google and other search engines lowering your website’s ranking or even omitting it from the search results entirely.
5. Cost efficiency
Traditional means of marketing such as paying for ads on television and radio can quickly burn a hole in your pocket, especially if you’re advertising your brand during prime hours. A 30-second prime time ad costs around $50,000, whereas an average digital agency charges around $2,500-$5,000 per month for digital advertisements such as content marketing, PPC, and social media advertising. With this huge difference in pricing options, it becomes clear why startups and small businesses with limited budgets prefer digital over traditional marketing.
As you can see, digital marketing offers a number of advantages for small businesses. It’s far cheaper and more accessible than traditional means of advertising and it provides business owners with real-time results, which can later be used to improve the existing marketing strategy or devise a completely new one. This real-time data allows for better predictions regarding future customer interactions and as such, provides businesses with a better return on investment than traditional marketing ever could.