Growth in Digital Marketing

Growth in Digital Marketing

You understand how growth in digital marketing is important for developing your business, but many business owners are at a loss for what to do when their company reaches a standstill.

Here are a few ways using which growth in digital marketing can benefit your company:

• Wider Reach 

Internet marketing allows you to reach individuals all over the world without ever leaving your physical boundaries. When it comes to expanding your business globally, digital marketing is a must-have approach for getting your message out there. Campaigns can be put up quickly and on a shoestring budget to cover the cost of advertising in a variety of nations. They can also be geo-targeted, which corporations may not have been able to accomplish in the past when they were just reaching out to a limited number of people.

• Brand Awareness 

 Digital marketing aids in the development of an online presence that enhances your company’s reputation while also making it easy to discover. Consumer trust is now built by brands updating their social media pages with new products or services and producing blog posts about various business trends. Paid advertisements with optimised content and design that are engaging, attractive, and easy for new and existing customers to find are also utilised in campaigns to raise brand recognition.

• Cost-Efficient

Digital marketing is the form of social media ads that is substantially less expensive than other kinds of advertising (such as buying ads on TV stations). Digital marketing can also provide a new source of revenue for firms. For example, let’s say your company runs an e-commerce site with no banner ads on the homepage or sidebar. You may sell advertising space in those locations to direct traffic back to the section of your website where customers are most likely to buy.

• Better Profits 

When do marketers’ strategies pay off in terms of increased revenue? When they have a high number of website visits and a high conversion rate. Furthermore, with an efficient email marketing or social media plan, you may convert website visitors into consumers. You can also raise brand awareness by making it easier for potential clients to reach your firm through Google or Bing search results. All it takes is someone searching for a similar keyword and landing on your website.

• Improved return on investment 

It seems obvious, but the more traffic your website receives, the more likely someone will make a purchase and invest in what your company has to offer. It’s also not difficult to track and measure ROI. It is calculated by dividing the cost of a marketing campaign by the amount of money raised as a result of the effort.

 

5 Ways to Strengthen and Grow Your Digital Marketing Strategy

1. Improve the customer experience with performance marketing 

focuses on employing actionable and quick-impact levers to continuously optimise marketing data and performance metrics like activation, churn, and upsell along the customer journey funnel. It’s critical for driving customer experience, particularly at the bottom of the funnel. Digitizing conversations and providing a customer-service response team that reacts swiftly are two examples of methods. This strategy can be effective if it is performed correctly and on a large scale. It is vital to stress, however, that organisations should avoid vanity metrics (such as shares or traffic) or attempting to “purchase” customers. Instead, choose a crucial measure that best represents your company’s success.

2. Be practical with marketing technology 

Before investing in marketing technology tools, consider how your company will use them to collect ROI. When selecting a current marketing technology stack and data architecture, make sure it includes the following three features:

•  Campaign execution: Using owned and paid media channels, automate and personalise campaigns and messaging. 
• Customer segmentation: Segment customers based on both offline (such as customer relationship management) and online (such as digital-asset activity) data, and distribute this segmentation across marketing channels. 
•  Data analytics and performance: Gather and record customer activity to create audiences and track campaign performance, as well as provide an analytics platform.

3. Become agile 

Your marketing and technology teams must collaborate to continuously improve the client trip. As a result, in order to gain executive buy-in and drive momentum, executives must elevate digital marketing to the CEO agenda. They must also ensure that the ROI of existing marketing activities is transparent and that marketing operations that fall below a specific ROI threshold are halted. One of the most effective ways is to build many agile marketing and technology squads to target key performance indicators using high-performing existing staff. Members of the team should have experience with growth marketing, SEO, UX design, HTML development, attribution analytics, broader campaign management, and copywriting. They should also collaborate to define, prioritise, and implement backlogs in research, product, marketing, data, and technology.

Tip of the Day: Is your digital marketing plan in need of some help? We’re here to assist you. To speak with one of our specialists at Sol Digital, please contact us immediately.