Digital Marketing’s Exponential Growth
Marketing has always been about connecting with your audience in the right place, and at the right time. That place is now online. Every business is going digital, whether it’s a large tech cooperation or a small local business.
Digital marketing has expanded its reach to almost every digital device, from laptops to smartphones and tablets, and who knows what else is to come. According to WordStream in April 2022, on average, 72% of a company’s overall marketing budget is put towards digital marketing channels. Here are a few reasons why digital marketing will continue its exponential growth.
Digital marketing effectively allocates resources and is cost-efficient. There is no longer a need to promote the business in-store or out-of-home. Now, the company can connect with the audience at their fingertips and engage them with a lucrative coupon code. This enables measured success daily and allows the company to draw conclusions on what is working, and what is not. The overall Return On Investment (ROI) of digital marketing is competitively higher than offline marketing.
[Image Creds: Pixel Studios]
Marketing online helps reach a larger audience than traditional marketing methods, such as banners, handouts, broadcasting, etc. Not only does it have the opportunity to reach more people, but also, it allows for more accuracy in selecting the target audience; the message can reach the audience most likely to ‘learn more’ or purchase the product or service. With a larger targeted audience comes more opportunities for your business to grow.
The usage of media and social channels gives businesses a platform to interact with their customers and audience. When the company is in frequent contact with the customer via social media, they are able to establish a relationship with the customer and tend to their needs. This creates trust with the customer and builds a unique brand identity.
The company is then informed of the customers needs, wants and preferences, and the audience is engaged; the company is able to pivot on a day-to-day basis to ensure success in a cost effective manner.
The growth of social media presence and user engagement brings greater opportunity for marketing campaigns to be quick and effective. One post on TikTok or Instagram can go “viral” and result in double the followers, as well as hundreds of thousands of views overnight. Viral marketing leads to increased user awareness and engagement, which leads to a greater ROI.
[image Creds: Digital Icon Agency]
All in all, digital marketing enables businesses to reach an infinite number of people in a highly cost-effective and measurable way. Being informed on the latest trends is a great way to stay ahead of competition, and maintain a conversation with the audience by staying relevant. Everything and everyone is going digital due to the plethora of benefits it offers. Plus, the exponential growth of digital marketing is not going to end anytime soon.
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