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Digital marketing helps you reach a larger audience than you could through traditional methods, and target the prospects who are most likely to buy your product or service from the get-go. Additionally, it's often more cost-effective than traditional advertising, and enables you to measure success on a daily basis and pivot as you see fit.
Traditional marketing is largely a shot in the dark. TV commercials, magazine promotions, colossal billboards—what do they all have in common? Limited control over who sees these advertisements, what that demographic looks like, and how effective it was in converting prospects. Digital marketing, on the other hand, allows you to identify and target a highly-specific audience, and send that audience personalized, high-converting marketing messages.
For instance, you might want to tailor your hard earned cash being expensed in ad spend to a much more effective, receptive, and converting audience. Digital marketing enables us to curate audience based on variables such as age, gender, location, networks, or behaviors. Alternatively you can also target people who’ve already shown an interest in your product or service, or keyed tail-wind searches in their search engine of choice looking for your exact specialties.
Ultimately, digital marketing enables you to conduct the research necessary to identify your buyer persona, and lets you refine your marketing strategy over time to ensure you're reaching prospects most likely to buy. Not only that, but digital marketing also helps you market to sub-groups within your larger target audience which can be equally impactful for various other products or services you may provide.
The beauty of digital marketing is its ability to track on a daily basis and decrease the amount of money you're spending on a certain channel if it isn't demonstrating high ROI. The same can't be said for traditional forms of advertising. It doesn't matter how your billboard performs — it still costs the same, whether or not it converts for you. In addition to having that immediately actionable data on your campaigns, digital marketing allows you to run more targeted campaigns which automatically unlocks more bang for your buck.
A lot of work goes into developing a marketing strategy. Generally, you will allow it to take effect, and then judge its results. However, things do not always go according to plan. You may realize halfway through that a calculation was off, an assumption was incorrect, or an audience did not react how they were expected to. Being able to pivot or adjust the strategy along the way is highly beneficial because it prevents you from having to start over completely.
If you work for a small business, it's likely difficult for you to compete with the major brands in your industry, many of which have millions of dollars to invest in television commercials or nationwide campaigns. Fortunately, there are plenty of opportunities to outrank the big players through strategic digital marketing initiatives.
For instance, you might identify certain long-tail keywords that relate to your product or service, and create high-quality content to help you rank on search engines for those keywords. Search engines don't care which brand is biggest — instead, search engines will prioritize content that resonates best with the target audience.
A key component of digital marketing advertisements, initiatives, and strategies is that they allow you to focus your efforts on the exact people who are searching for what you offer. This means that you can spend more time and money reaching your prospects with ads that speak to their desires and motivations—and less time and money wasting resources on irrelevant audiences.
Being able to measure the effectiveness of each tactic helps you develop better strategies. Continuously refining your methods improves your conversion rate. Investing in online marketing ensures that everything is optimized for the highest amount of conversions.
Marketers can measure the impact of their campaigns by tracking metrics such as how many users return to their website after seeing an ad or how many people click on a link within an email. In this way, marketers can make adjustments if necessary in order to optimize their efforts and achieve the desired results.
Online channels allow you to follow the entire buying journey of your customers. Understanding and analyzing how customers are moving and operating is important for converting leads. Digital marketing allows you to track them through that process. And, even if they don’t convert in the early stages, it at least helps ensure they have made a connection with your business.