The introduction of the internet has caused rippled waves that have impacted every walk of life. Looking at the massive scope of the internet, we can see changes happening at a fast pace.
With the current raging pandemic that has put the world to a complete standstill, many businesses have been forced to close down & work from home. Ever since the lockdown has come into force there has been a great shift into the digital sphere, with a lot of businesses going online. From video conferencing apps, to task managers, to a great increase in online games and extensions such as Netflix party, etc.
So does this mean that digital marketing is taking over traditional marketing methods?
Lets first start by understanding what traditional marketing and digital marketing entail:
- Traditional Marketing: Traditional marketing refers to any type of marketing that isn’t online. This means print, broadcast, direct mail, phone, and outdoor advertising like billboards. From newspapers to radio, this method of marketing helps reach targeted audiences.
- Digital Marketing: Digital marketing is any marketing a company conducts online, such as paid social media ads, email marketing, and PPC advertising. Digital marketing has become wildly popular due to the cultural, technological, and societal shifts around us.
Big businesses are ever-increasing their digital marketing budget and small businesses are now able to market their products effectively. Digital Marketing allows for small business owners to take their businesses to the masses while earlier this was a faint possibility.
For whatever the reason, we all can see that traditional marketing is taking a backseat and digital marketing is zooming ahead.
Here are 7 reasons why digital marketing is on the rise in times of Covid-19:
1. It is Inexpensive
As compared to traditional outbound media, studies have shown that the average costs per lead is nearly 60% less through inbound digital marketing channels.
Customers are becoming more informed and are learning to use the internet to research products and services before they can even purchase it. This includes the use of search engines, online review sites, and comparison shopping sites to find a company whose website best meets their needs. So if your website is not search-engine-optimized and user friendly, then you are missing out on potential customers and sales.
2. Larger Audience and Reach
Digital marketing allows you to reach a large, highly targeted audience of people that are most likely to respond positively to your brand. This means that you can promote your content to an extremely specific audience, limiting your reach to the people most likely to read and respond to your content. You can go as broad or as narrow with targeting as you please and only reach the audience that you want.
3. Interaction with customers
Creating content for the customer, developing a content strategy as well as testing and optimizing are essential digital marketing tools that can help create a great customer service experience. One of the reasons why digital marketing is taking over traditional marketing channels is the use of Internet marketing tools to interact with targeted audiences in real-time. Engagement in any form is what your customers expect to receive when interacting with your brand or business.
4. Entails Advanced Targeting
Targeting with digital marketing allows:
- Advertisers can pay for the very specific audience they want to reach. With most social networks, this means drilling down location, job title, interests, behavior, and more. In search advertising, it means targeting the very specific keywords that lead a user to your product or service.
- In-depth analytics provides advertisers with a view of which audience members lead to conversions, and which are not. This allows advertisers to make well-informed decisions in the future.
5. Digital Marketing Builds Brand Reputation
The power of digital marketing lies in its ability for attracting targeted audiences. These types of audiences are most likely aware of your brand, products, or services and may be interested to buy what you have to offer. Delivering on what you promise will help you develop a better relationship with your targeted audiences.
This will prove beneficial for your brand reputation, as satisfied customers will most likely tell other people about their experience with your brand, product, or service. Your brand reputation will go viral, and further open new doors of opportunities for reaching bigger markets.
6. Higher ROI
With lower costs per lead and higher conversion rates, ROI from a successful digital strategy can greatly exceed the ROI of traditional advertising. Through strategically designed websites, optimization, content creation, SEO, and digital campaigns – companies are seeing large improvements in their profit margins.
With Traditional media, it can be challenging to track ROI, conversions, and results. Digital marketing on the other hand is much easier to track.
- With digital marketing, sales, lead generation can be tracked down by specific channels such as pay-per-click, email, search, specific campaigns, locations, new, returning visitors, etc.
- Money amounts can be assigned to sales or lead generation from everything above to evaluate the true ROI of each digital marketing investment your organization makes.
- Organizations can make better decisions in the future because they know what’s working now and in the past.
While traditional marketing is clearly not as relative as it used to be, it can still be effective in specific markets. Depending on your budget, location, and market goals, traditional forms of advertising are still used for many companies. We at Social Pill are a holistic digital marketing agency that specializes in all your digital marketing needs.