There is no doubt that businesses in this day and age should adopt at least some form of technology in their business. From social media marketing to CRM, the rapid growth in tech innovations have grown to provide so many benefits to every part of our everyday lifestyles as well as our businesses.
It is obvious that certain businesses have much more of a presence on the internet. This kind of authority presence is what most brands strive for. Why is this the case? It is due to how they incorporate a digital marketing strategy into their business. We will dive into this topic below:
- How your business can benefit from a digital marketing strategy
- Things to be wary of when planning and executing your strategy
When it comes to digital marketing, the most important part is to decide on your marketing strategy. Your digital marketing strategy should depend on where your ideal customers are. Aside from this, experimentation can also be used to help decide which channels would work the best for you.
Keep in mind that all businesses are different. One channel may work well for one business in the same industry while another may find success in other channels. Either way, investing in some sort of digital marketing strategy will undoubtedly help in growing your business. It is a surefire way to increase your brand awareness and grow your business due to the following reasons:
Small Investments and High ROI
It is well-known that marketing is one of the most costly aspects of running any business. Digital marketing can open up opportunities with its relatively lower cost of marketing compared to traditional marketing. However, without the right expertise, you may end up spending more on paid ads. Therefore, investing and implementing the right digital marketing strategy into your business is critical in gaining a profitable ROI.
It is important to note that without the right knowledge in digital marketing, both time and money can be wasted. There are various digital marketing tools such as Facebook advertisements. These may cost you to spend more trying to figure out how it works.
Learn About Real People
Social media is not just powerful in the way it connects people together. They are also powerful in how they are able to understand what your customers are interested in. Take a look at Facebook Audience Insights, for example.
Say, you have an eCommerce website selling women’s clothes in San Francisco. You want to learn more about who your customers are and what they are interested in. Facebook Audience Insights can help you learn about all of this from just searching based on the users’ interests. Some of the related interests would be “online shopping” and “women’s clothes”. Aside from this, you also have the ability to target specific locations to help narrow down your audience.
As you can see in the image here, the tool shows exactly the age range of your potential customers and how many of them are within a specific location, in this case, it is New York, USA.
The majority of potential customers interested in women’s fashion and online shopping are in the age range 25 to 34 years old. The total number of these audiences are 2.5 million to 3 million people.
Retarget Your Customers
Have you ever gone on a website, and find that the same website’s advertisement keeps following you around? In the world of digital marketing, this is called retargeting ads and it is a great addition to all digital marketing strategies.
You may have heard of the term “Facebook Pixel”. It is a tool that helps you advertise yourself to the people who visited your website. However, Facebook only allows you to keep this data up until 180 days.
This tool is massively useful from a marketing perspective. Just think of how often you actually buy a product the first time you see an ad? Retargeting can be used strategically to help your customers learn more about you and remember your product or service when they need them.
Things To Be Wary Of
Digital marketing can bring a lot of benefits to your business but one wrong move can really hurt. Without the right knowledge and application, your business can be significantly affected. Here are some main things you should be careful of:
Targeting The Wrong Audience
When advertising, you don’t want to randomly target everyone. That’s a quick and easy way to going broke. Your product/service needs to be put in front of the right audience. If not, it is unlikely that will be able to make any sales.
If you have been running advertisements for a few days and there’s been no purchases or conversions for your ads, make sure that you are not targeting too broad of an audience. Try adding a variety of different audiences and see how your ads perform. Eventually, you can cut out advertisements that have little to no conversions and invest more into ones with conversions.
Low Ad Quality
All paid advertisement platforms care a lot about the experience of their users. Without these users, their platform could not exist which is why advertisement quality is extremely important. These platforms have built-in algorithms that decide which advertisements to show their users depending on how much the advertiser pays and how good the quality of the ad is.
If your advertisement is not up to standard, it is likely that the platform will prefer showing your competitor’s ads instead. Audiences also have the option to report your advertisements which can affect your advertisement quality score.
Remember: Your competitors are just a click away.
News on the internet spreads like wildfire.
If some sort of negative or controversial news were to be released about your business, that could potentially be the end of your career. Therefore, always keep track of what is being said about your brand online.
It is important to use social listening tools to not only learn about what your customers feel towards your brand but also to keep your brand image in check. Some of the tools for this are BuzzSumo and HootSuite.
So, we have learned why businesses should use digital marketing strategy and some factors to avoid. With this in mind, it is extremely important for companies to execute their digital marketing strategy properly. Having experts in this field help you out will tremendously save time and money.
Aside from this, paid advertisement costs are also gradually increasing due to corporate entities tapping into this channel. This is the reason why the time to invest in digital marketing should be now, rather than later.
If you are interested in implementing it into your business or upgrading your digital marketing strategies contact Marketing Guru today for a free consultation!