Why Your Business Should Invest in Digital Marketing

Digital marketing spend has consistently grown over the last few years with more budget being allocated to new forms of media. The rate of this growth is estimated to be approximately 10% every year and it is predicted to increase to 18.7% in 2022. In comparison, spend on magazine advertising has fallen by over 70%. We have teamed up with a digital marketing agency in Hertfordshire to unpack why this is.

Measurable Results

The great thing about digital marketing is that it can all be tracked. Unlike traditional forms of media like billboard advertisements, magazine features and TV ads, the performance of your digital marketing efforts can be analysed and broken down. You can see exactly how many people have interacted with your ads/posts, clicked through, and converted. A/B testing and the results of your actual campaigns can help you to improve their performance, giving you a better ROI. Analysing the data is pretty straight forward too. Google and social media platforms like Instagram and Facebook have ready-made dashboards that you can use to see how you’re doing.

Expense and Control

There are a number of ways in which you can communicate with your target audience online. There’s paid, earned, and owned forms of media, the latter of which are free. You can gain exposure from customers that have posted about your company (earned media) and what you post online via your own channels (owned media). All you have to do is keep an eye over your social media handles and mentions online.

With regards to paid, advertisers like Facebook and Google give you full control over where your budget is spent. You can really hone in on your niche which allows you to reduce costs and decide on how much it is that you want to spend. 

Virality 

With social media, we’ve all got our fingers to the pulse. It’s easier than ever to stay up to date with what’s going on around the world. News and trends emerge fast which gives businesses the chance to react and get involved in the conversation. Those that do it well have the potential to gain mass brand awareness and successfully position themselves. The opportunities that you should go for depend on your brand’s tone of voice. For example, companies like Specsavers are known to be comical and engage in light-hearted conversation.

Rise of Mobile

We’ve ditched the PC’s and so many other devices since smartphone technology’s come along. Mobile is the preferred device and the one that we use on the go. For this reason, average mobile screen time is thought to be around 4.8 hours a day which gives businesses ample opportunity to get in front of their audiences and build meaningful relationships.

Word of Mouth 

What others have to say means a lot to us. In fact, word of mouth marketing is responsible for $6 trillion of consumer spending a year. The place that customers love to go is twitter which makes being on social media all the more important. It allows you to control the narrative and put out the right message about your business. Like mentioned above, customers may even tweet out about the great experiences that they’ve had and having profiles gives somewhere for your glowing reviews to point to.

It’s Only Growing

The internet is only growing and there’s more that you can expect to see. More users, more opportunities and more for business.