Whys and Whats of Digital Marketing?
Once in a while, at The Bid, we come across clients who are just not inclined to use digital marketing strategies for their businesses.Some of the reasons they cite are longer wait times for ROI, no trust in capabilities of digital marketing techniques and high amount of investments when it comes to small companies and startups. As an agency, while we vouch for extremely flexible marketing strategies offered by today's robust digital marketing techniques, far lower spend rates on digital ads compared to print & electronic media, and a very high ROI and brand awareness opportunities, for the benefit of all the digital marketing naysayers, we have conducted surveys to understand how much of digital marketing do business owners actually know? Out of 345 cases, we found that only 5% of Indian entrepreneurs are well equipped with various aspects of digital marketing. 20% are familiar with only two terms - SEO and Social Media(Just Facebook). The rest believes that digital marketing is very expensive. So hardly surprising ,not many of Indian investors try to spend their time and energy on Digital Marketing. So we have started this specific section in our blog to talk about some important facets of digital marketing which will help you, if applied correctly, revamp your marketing plans, monitor the performance and increase your revenue traction.
Digital Marketing is a marketing effort of a business through electronic channels. For starters, this can be started by owning a website, ranking the website to show on the top when people searches for the product or services you sell, to review people comments on your services on social media, to seeing your ads on every websites available. How is that appealing from a marketing point of view? Studies say that in 2018, 80% of users surveyed sped more than offline for 14-18 hours per day online . Which means they are possibly browsing social media, websites and apps during that time. This is a massive amount of marketing time to be tapped by the businesses.
Traditional vs Digital Marketing
Let's say ABC is a grocery store in the making. With traditional ways of marketing, one will open the store first, tell their friends, who will in turn inform their friends about this new store and thus create a word of mouth publicity. This process takes time and it is often unsure if these friends would actually go ahead and recommend the new business. Let's say ABC got lucky and have created a substantial presence in the market but want to gain more customers, they create hoardings, pamphlets, put an ad in newspapers and TV. How would they know if people have actually paid attention to the hoarding? People have low spans of attention and the hoardings while driving, TV ads while watching a movie or a sport, pamphlet conspicuously hidden in news papers are often lost in the din. You need something very creative that will create an intrigue in your potential customers that will lure them to you. Do your current ads have that?
Digital Marketing shows ads online thus uses the technology in the background to track how many users have actually seen your ad, which pages in your website users are looking at the most, how many people have actually visited your website, what is their feedback for your product. You canot possibly do this with hoardings and pamphlets. TV ads would cost a bomb yet have very low chances of tracking your ad performance.
If there is one thing that never lies, it is Data! Taking the digital route for your marketing gives you huge chunks of meaningful data which can be used to track and analyse your ad performance and take smart steps to invest your money wisely This data can be the number of people who have seen your ads, age group of the audience, or geo location of your potential customers.
Increase the Reach