In today’s digital age, innovations, new trends, and world events, like the COVID-19 pandemic, have changed how people live and interact. Consequently, businesses rely more heavily on digital marketing to survive and thrive.
In this article, we are cutting through all the trends in digital marketing and going straight to the heart of the matter. Here, we dive into the very reasons why companies turn to digital marketing.
9 Reasons Why Companies Turn To Digital Marketing To Survive
People Are Spending More Time Online
People already spend a lot of time online. All information and entertainment are accessed via the Internet.
However, during the pandemic, this was further increased as people avoided close contact and had to spend more time inside their houses to mitigate the rising number of cases at that time. As such, Internet usage soared, and people relied on digital platforms for most of their needs.
While the situation was not ideal for people and businesses, it did present an unprecedented opportunity with digital marketing. Companies can engage more with the intended audience throughout the day because of this.
Most Businesses Are Also Online
Keeping up with business trends is crucial for a company to survive. One of the most glaring trends there is that most, if not all, businesses are also online and utilise digital marketing to bring in customers and generate profit.
Moreover, helpful tools, such as Google Analytics, Ahrefs, and SEMRush, help businesses develop marketing strategies to effectively reach their target audience.
On the other hand, most people do not trust businesses that have zero online presence. That is why, out of necessity, businesses use digital marketing and are present on online platforms.
People Use Social Media for Business and Pleasure
More than half of the world’s population is on social media. Basically, every single person with an Internet and a mobile device is on social networking platforms like Facebook, Instagram, Twitter, YouTube, and TikTok.
Moreover, web users are on these for multiple reasons, such as connecting with friends and family, entertainment, research, and even business. This gives businesses an opportunity to be seen on these platforms. More than that, companies can connect and relate to people and then present solutions that consumers need.
Events and Networking are Online
Platforms online have become the hub for events and networking. In addition, due to the global pandemic, people adapted to it much more quickly. As such, while large-scale events like Summer Olympics in Tokyo back in 2020 had to be postponed, most events shifted to the virtual space instead.
While it is true that going virtual has its challenges, it does present businesses with more opportunities. There are innovative ways to bring people together thanks to tools like Facebook Live, Zoom, and YouTube Live. Moreover, compared to real-life events, where time and location can be restricted, virtual events are a lot more accessible since people only need a stable Internet connection and a mobile device.
Effectively Target Ideal Customers
Compared to traditional marketing, digital marketing can effectively target ideal customers. This means businesses do not have to dedicate so much of their resources to grow an audience and convert them into pay customers. They can opt to focus on just one aspect, like email marketing and social media marketing, to produce the results they need.
Higher Chances for Build Trust and a Community
In addition, digital marketing, specifically content marketing, helps businesses to effectively build trust and later on a community with their audience.
Brands can have a two-way engagement with their target audience in real-time and create a relationship from there. Over time, this builds trust and increases the chances of converting these people into paying customers.
Moreover, having a community around a brand not only helps generate profit. Beyond this, businesses can get valuable insight into what people actually want and need, and how to improve their present products, services, and customer experience. In addition, having a community also creates brand evangelists that can further spread the word about the business.
Competition Online Is A More Even-Playing Field
There are also new digital marketing trends that shake things up, an example of this are changes in Google’s SEO and even changes in algorithms for social media platforms like Instagram.
This creates an even playing field for businesses, regardless of their size and how long they have been established. However, it is worth mentioning, that one thing that could give big brands an edge is the size of their budget. Having more resources means they can easily keep up with the changing trends.
Digital Marketing is More Cost-Effective and Faster
It is also cost-effective for businesses. For one, creating a channel on social media platforms does not cost anything. What businesses will need to just spend on would be content creation, the people, the necessary tools, and pay-per-click (PPC) campaigns.
With so many people online at any point in time, being seen by a brand’s ideal audience is much easier. Even with a limited marketing budget, businesses can generate the result they want.
Get a Higher Return on Investment (ROI)
Investing in digital marketing, businesses can expect to receive impressive ROIs. For one, it is less expensive compared to traditional marketing methods. Even so, it generates a significant increase in leads. In addition, by optimising certain aspects, better targeting, and fine-tuning things like ads, businesses generate more sales.
Digital Economy Continues To Boom
In conclusion, the digital economy is booming. Businesses that fail to go adapt will fall behind. While restrictions have eased up as the number of infections has subsided, eventually brick-and-mortar businesses that rely on traditional marketing methods will have a harder time surviving down the line in today’s economic climate.
On the other hand, those businesses that do utilise digital marketing are presented with opportunities for survival and growth. These include reaching a wider audience, connecting with customers on a deeper level, and driving sales. Moreover, by leveraging online tools and platforms, businesses can reach their respective goals and have higher ROIs.
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