Owning a business is more than earning money and making sales. Although increasing sales and satisfied customers is the end goal, there’s more to business than meets the eye. A company comprises of various components— finance, sales, value-creation, value-delivery, and most importantly, marketing.
Marketing is an essential component of every business. It’s also one of the most challenging aspects of a business because it’s ever-changing. Due to its versatile nature, we are continually looking for new ways to market our products or services.
Some would say that always looking for new ways to do one thing is counter-intuitive, but we digress. The reality is, marketing doesn’t begin with a new idea or product. It all starts with the customer.
When we first begin market research, what’s the first thing we think about?
We think about the audience— our potential customers.
The audience is our target market, and our marketing strategies revolve around them. We don’t make ads that we might like. We focus on what the consumer wants to see and what they prefer. We create ads and content that our audience would enjoy.
As the world advances in technology, traditional marketing is beginning to lose its effect. Businesses today revert to modern means of marketing or digital marketing, as we like to call it.
If you’ve surfed the web long enough, you’ve been exposed to different kinds of digital marketing. There are so many different types and divisions of digital marketing, such as content marketing, social media marketing, internet marketing, and email marketing, just to name a few.
There’s no denying that digital marketing is slowly taking over the world with its immersive ads, shareable content, and low costs.
In general, Internet marketing is the act of promoting a business or brand over the internet with the help of tools that drive traffic, leads, and sales. Internet marketing is also known as online marketing and is the broadest division of digital marketing.
SEO or Search Engine Optimization plays a considerable role in Internet marketing because through SEO, businesses can gain traffic and exposure.
Internet marketing works because it can help businesses reach out to large amounts of people. Around 80% of consumers do online research before making any purchases— giving brands lots of opportunities to market their products and services through reviews and testimonials.
Social Media Marketing
Social media marketing has been around for a while, but only recently has it become a popular means for marketers to promote their products and services. Social media platforms are filled with everyone sharing experiences, thoughts, and opinions.
When consumers want an honest opinion about a product, social media platforms are the way to go. Many brands— big and small opt for social media marketing because of its low cost, large userbase, and ease of reaching out to various audiences.
Content marketing is what it is. It’s about attracting consumers through your content. Content marketing doesn’t garner results as quickly as other digital marketing forms, but it’s an excellent investment for your business in the long run.
Content marketing takes time, effort, and patience. An article doesn’t blow up overnight, and you likely need to create more than one post to earn any loyal visitors.
However, content marketing is great because it’s cheaper. It costs 62% less than traditional marketing and generates thrice as many leads.
Email marketing used to be the ugly duckling of the internet. Today, it’s a whole different story. Brands and businesses have opted for email marketing to maintain engagement and keep their customers updated.
Whether it’s a simple automated email or monthly newsletter, email marketing is a great way to reach out to targeted customers to show them that you exist and have something to offer.
Not to mention, the ROI for email marketing is insane. For every $1 spent, the average ROI is $44.25.
Following the Trend: How to Implement Digital Marketing in Your Business
Now that you know that digital marketing is pretty much everywhere and a great addition to your marketing strategy, how can you implement it in your business?
First things first, you should start with the basics of SEO. Learn how search engines such as Google work and how you can rank on the search results page. For most social media platforms, the concept of ranking on them is similar to how you can rank on Google.
SEO is super important because no matter who your customers are these days, they begin discovering your product with a simple Google search. Around 80% of consumers also research products online. So, if your brand appears on the top search results of Google, then you know you have the upper hand.
Create Valuable Content
Content creation is the most tedious and essential part of digital marketing. These days, consumers will need more than just a blatant ad. They need connection, authenticity, and value from the brand.
Creating content that your audience loves can bring in significant traffic and eventually turn into leads.
Although content marketing takes time and energy, it’s a worthwhile investment and will help boost your business’ SEO and credibility. Companies with an active blog generate 69% more leads per month.
With so many social media platforms on the Internet today, it proves how important it is for a brand or business to be omnipresent.
Although it might seem much, being present across different platforms is a great way to reach large amounts of potential customers.
Every platform might have different audiences, so cross-promoting your content or brand online can earn you traffic from various sources.
Digital marketing is becoming increasingly popular, and businesses waste no time implementing it in their marketing strategy. The Internet is becoming a more significant part of our lives, so it only fits that businesses start to transition from traditional marketing to digital marketing.
This doesn’t mean traditional marketing will cease to exist. However, digital marketing has more opportunities for businesses to grow and earn traffic.
As you ponder what to do next for your business, consider implementing digital marketing strategies into your business plan.