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Vijay Kumar Mikkilineni, Marketing Head, TCL India
As a modern-day business, it is evident that you must have a digital presence. There are no qualms about it. We live in a digitally propelled world where everything we touch has at least some digital connotations. Especially businesses, irrespective of their sizes and inception period, cannot fathom reaching a certain amount of success without integrating digital technologies in terms of functionality and marketing. Having said that, the realm of digital marketing in itself has evolved over the years. It has increasingly become more competitive, cohesive and over-saturated. But even then, digital marketing is still the Brahmastra in the quiver of contemporary brands.
Digital marketing: A comprehensive overview
In layman’s terms, digital marketing is a means of advertising, selling products and gaining customer feedback through the internet. Earlier, marketers used traditional props such as billboards, hoardings and television/newspaper ads. These props have been replaced by video ads, social media posts, SEO marketing and online commercials that digitally appear on customers’ screens. The newly invented marketing tools are exceptionally impactful and cost-effective. They can efficiently grab the attention of a brand’s target audience and cater to their needs in a personalised manner.
Here are five reasons why digital marketing is the best friend of modern marketing
1. Cost Effective: Running a business is an expensive affair. It is understandable if an entrepreneur or business leader is hesitant to invest a large sum without solid assurances in marketing tactics. This is where digital marketing completely changes the game. By leveraging retargeting ads, tracking/assessing and adjusting campaigns, introducing pay-per-click advertising and harnessing the power of social media influencers, digital marketing promises brand awareness on a budget.
2. High Reachability: Unlike traditional settings, digital marketing strategies know no bounds and limitations. These new-age approaches can reach out to customers going beyond geographic boundaries with a digital medium. Digital marketing assists brands in targeting the right audience at the right time, no matter which part of the world and when they are scrolling through relevant products or services. This futuristic methodology helps companies accompany customers at every step of their journey, reaching more customers without spending a lot.
3. Customer Base: Digital marketing is a pertinent tool to attract and retain customers. It consists of several steps like starting a blog, hosting webinars, harnessing the power of social media, maximising search engine optimisation, creating affiliate programs and engaging customers with chatbots/chats. These steps help marketers identify customers’ wants and needs so that companies can adjust their products and services accordingly.
4. Measurable Results: In contrast with conventional business strategies, brands with a digital presence as the primary source of revenue can measure conversion rates in real time. This information helps them to identify the factors that led to conversion and reform future strategies. Tools like SEO, social media and email marketing create quick and effective communication channels with customers, thereby increasing the probability of conversion.
5. Heightened Engagement: Research reveals that in 2020, India’s smartphone penetration rate reached 54%, which is estimated to increase to 96% by 2040. Needless to say, mobile phones are a crucial necessity today, either for professional or personal use. Today brands are targeting customers with smartphones and assessing their online behaviour to provide adequate assistance. This ease of communication facilitates an enhanced level of engagement with customers that was missing in the earlier days.
Wrapping Up
For businesses, digital marketing is a holy grail laced with various benefits. This marketing approach required less budget and more innovation and creativity. Having a digital marketing expert or team onboard can benefit brands trying to thrive in the current market. If you haven’t yet collaborated with digital marketing experts, the time has come to jump on this modernistic bandwagon. Don’t miss out on this opportunity to take your business to unprecedented heights.
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Views expressed above are the author’s own.
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