With the various changes that are being caused by the growth of modern technology, you will find both small and medium businesses attempting to maintain the pace. You can say the same thing about consumers as they continue to have to adapt to the various changes. You will find brick and mortar businesses changing their business models integrating more online selling into the mix or investing a lot of money into their digital marketing efforts to capture the growing online segment of the marketplace.
The biggest difference between a business that grows and scales and one that fails in today’s digitally dominated marketplace is being able to attract online consumers. Even if you can receive a lot of traffic to your site, it wouldn’t positively impact your business unless you can convert them into actual sales for your business. Digital marketing strategies, like those that Leapfrog Internet Marketing can provide, that have proven success will grant businesses with the best chance at succeeding in the highly competitive digital landscape.
Here are some of the reasons you will want to integrate digital marketing into your business strategy. We will be showing exactly why it’s essential and how it can help you scale your business.
1. It Levels the Playing Field
You no longer have to be a multi-million dollar corporation to excel at digital marketing. Digital marketing has become highly adaptable and accessible to everyone. To come up with an effective marketing campaign, you don’t need to invest a whole lot of money. Because of this, it levels out the playing field in an otherwise unfair marketplace. With digital marketing, it gives small and medium businesses the chance to come out and compete with the heavyweights in the industry.
After all, with digital marketing, smaller companies with smaller budgets can access the same resources and the same marketing strategies that were limited to larger companies with larger budgets in the past. Without access to a call centre, smaller businesses can engage with a variety of customers no matter where they are located. This allows these businesses to sell to customers they would otherwise be unable to reach.
2. Digital Marketing is More Cost-Effective
Believe it or not, but digital marketing is a lot more cost effective than other types of traditional marketing. Because of this, it can end up saving smaller and medium businesses more money. It is capable of delivering much more results for the investment than some of the other traditional marketing strategies. Gartner’s Digital Marketing Spend Report notes that up to 40% of those who responded claimed they were able to maximise their savings by utilising digital marketing methods of advertising and promotion for both their products and services.
Because of this, according to the Gartner survey, 28% of all business owners who were surveyed noted they will begin to shift the allocation of their budget from traditional advertising and promotion channels to digital marketing strategies. HubSpot also shoes this in the chart below that can confirm how digital marketers can score much better lead costs compared to the other forms of advertising and marketing.
3. It Delivers Better Conversions
Your website is only as successful as your conversions state. After all, there is no point in driving traffic to your site if they don’t end up in a customer eventually. Thus, traffic that gets converted into leads or sales of some type is the point of emphasis in judging the success or failure of your site. Without high conversions, you will not benefit from the traffic you are driving to your site. This is generally why a lot of business owners are looking to streamline their digital marketing strategies to pinpoint their conversion rate. Thus, driving conversions has become the primary emphasis among all business owners.
4. Digital Marketing Helps to Generate Better Revenue
Being able to reduce lead acquisition costs and drive conversions can help to maximise profits throughout your business. This will end up resulting in a better bottom line for your small or medium-sized businesses. This is confirmed by a study with IPSOS Hong Kong which noted that there was 2.8 times better growth expectancy of revenue for businesses that utilised digital marketing strategies versus those that didn’t.