Why your business needs digital marketing in 2024 and beyond.
As of 2024, it is estimated that 68% of the global population uses the internet, which translates to around 5.6 billion people around the world who have smartphones or computer access to information daily. For a business starting today, those are astronomical figures for potential. In the global digital advertising market, it is expected that the will be an increase to $740 Billion compared to the global television that made $235 billion in 2023 which is 3 times less than the television market. This large gap shows businesses’ reliance on digital marketing to reach their target audiences.
In today’s world, digital marketing is no longer a want for businesses but a need for startups to succeed. It’s no longer just about how good the product or service is but also how well it connects to existing customers and individuals in the digital space.
Reaching your target audience is very crucial for a business, digital marketing helps with that by using various platforms and analytics to better attract the intended consumer. It allows smaller entities to be able to compete with larger companies and be able to drive up sales if done right, as well as allowing businesses to analyze their campaigns and adjust them for optimal performance results. It makes it easier for consumers to also interact with brands even across large distances.
What is Digital Marketing
Well, to catch a fly a spider doesn’t jump straight for it cause it won’t be fast enough to catch one easily or many at once, so what does it do? It makes interconnected strings across various areas to make a web that eventually traps its prey. That is how digital marketing works it is essentially placing various forms of content on different platforms to reach/attract brand awareness. The audience in this case is the fly and the web is content placed strategically on various platforms to be hyperconnected to each other with the end goal of driving sales/returns up for a business. There are various key components that need to be considered to achieve this and these are:
- SEO (Search Engine Optimization)
- Social Media Marketing
- Email Marketing
- Content Marketing
- Pay-Per-Click Advertising (PPC)
- Influencer and Affiliate Marketing
- Analytics and Reporting
Traditional marketing vs digital marketing
Radio, television, and print media are offline methods of delivery for reaching target audiences. In many ways they are great but also very limited in their targeting capabilities as well as inefficient in comparison to digital media. Often at times, they may be slower and more expensive than digital marketing. It takes longer for you to print multiple copies of a flyer to then later have it distributed around to individuals who might be interested as compared to just making a design or whatever form of delivery digitally and posting it a letting it distribute itself digitally based on the quality of attractiveness to consumers.
That’s another thing about traditional media “who it attracts”. You can’t easily monitor traditional media in terms of knowing who it is most interesting to, unlike digital marketing which allows you to better understand your audience. Digital marketing is more controlled with real-time data that allows you to optimize your content and make it more appealing, unlike traditional media which doesn’t give you much information as the business owner.
Apart from that traditional marketing is also more expensive in a lot of cases. Imagine printing 300 flyers at $150 to be distributed only to have 100 interested individuals who kept them, and the other 200 thrown away and you wouldn’t know why they threw them away. With digital marketing it is a lot different, these days Algorithms allow you to analyze what particular market mostly interacts with your kind of business/brand to allow you to be able to better manipulate your content and make it attractive to more consumers quickly, and all this at less the cost and more results.
The Growing Importance of Digital Marketing
Every day there is a need growing need for digital marketing across all types of businesses no matter how big or small, with consumers always having their minds changed or persuaded by the content they consume daily or the evolution of technology itself around them thus creating a need for business to use this information to elevate themselves in the market.
Changing Consumer Behaviour
In today’s modern world consumers have information easily accessible at the tips of their fingers or the basic skill to try to find it. Digital marketing plays a large role in influencing the buying decisions of most consumers if not all, transparency sells. If your client base has all the information they need to access to influence their choices then best believe the chances are highly directed based on the information they’ve been given.
How Consumers Research and Shop Online
Usually, the process starts with research. Using keywords to find possibilities, consumers use search engines like Google to investigate goods and services. Social networking sites like Facebook, Instagram, and TikTok also have an impact on discovery, frequently through targeted advertisements or recommendations from influencers. Users may want to compare and assess products with the aid of YouTube tutorials and unboxing videos, as well as reviews on sites like Google and Trustpilot.
After being informed, customers start to shop and think about their options on which one best suits them. Price comparisons are made possible by e-commerce sites such as Amazon, and artificial intelligence-powered personalized recommendations help make decisions easier. Ratings, reviews, and “Best Seller” tags are examples of social proof that affect confidence and trust in consumers. Customers are frequently encouraged to revisit possible purchases by features like cart abandonment emails and retargeting advertisements.
Convenience is a major factor in the decision-making process. Mobile shopping apps, easy payment methods, and promotions like free delivery or discounts usually influence the final decisions of the consumer. Ethical factors, such as sustainability and brand values increasingly influence consumer preferences.
Global Reach with Local Impact
“Global reach with local impact” means your business, even small and local ones, can connect with international audiences while being true to itself. Digital marketing makes this possible by breaking geographical boundaries and allowing your business to scale globally with minimal resources.
With tools like SEO, social media, and e-commerce platforms, a small business can showcase its products or services to a global audience. Platforms like Instagram or Shopify allow you to market and sell globally, while localized content – like translated websites or culturally relevant posts – makes international customers feel connected to your brand. For example, a local craft shop can sell handmade items globally while sharing the story of where they came from, which resonates with authenticity-driven customers.
Digital marketing’s personalization is key. Targeted ads, email campaigns, and behavioral analytics allows your business to cater for global and local audiences. Plus digital channels are cost-effective so even the smallest of businesses can compete globally without breaking the bank.
This makes digital marketing even more important as it helps your brand build trust and recognition globally while keeping a local connection. By balancing these two your business can grow sustainably, local and global.
Adapting to Mobile-First World
Mobile usage, also known as “smartphone” usage, is becoming increasingly popular with each passing year. Consumers are more knowledgeable about internet access and frequently utilize the mobile method because they can bring their phones with them wherever and at any time due to their convenience.
In terms of digital marketing, this has a significant impact on the consumer’s browsing habits. Google searches frequently provide geolocation-based information to make it easier for consumers to find the services or items they seek within their area. As a business, it is critical to understand how this works and the benefits of digital marketing to strategically use it to increase consumer interest while also standing out from competitors.
Personalization and Customer Expectations
Exclusivity is one method that digital marketing helps your brand to bring people closer to their brand choices when you provide them with bespoke experiences and create strong relationships with your customers. Customers want to feel unique when they contact with businesses or receive rewards in the form of contributions every time they purchase or use a service, which produces an almost addicting sense that draws them back again after time without regretting any interactions they have.
Digital marketing enables your business to collect data about your customers in order to understand better how they interact with your products and services, allowing you to offer features that improve the personalized experiences of your customers. For example, the Starbucks Rewards program collects customer purchase history, preferences, and general engagement data to design special promotions and rewards. Starbucks makes its consumers feel valued and recognized for their devotion by delivering them tailored offers and discounts on their favorite menu items. This tailored strategy increases clients’ bond with the business, encouraging return visits and cultivating long-term customer connections.
Key Benefits of Digital Marketing
Digital marketing has great benefits when it comes to improving your business, whether you want to improve it or send out a message to the consumer base. These benefits vary from targeted audience reach, measuring the results of a business, cost-effectiveness, and many more. Below is a more detailed deep dive into these benefits.
Targeted Audience Reach
Digital marketing allows your business to reach specific demographics, interests, and behaviors (age, location, job title, online habits, etc.). It allows companies to filter out unwanted consumers that don’t align with the brand. Facebook ads as an example are a way of attracting attention to your business and they allow you to choose what kind of demographics you have a target for, unlike traditional marketing, which broadcasts information to a large and frequently irrelevant audience that you don’t desire. Digital marketing employs modern technologies and methods to target those most likely to convert into your next consumers.
Measurable Results
One important benefit of digital marketing is the ability to provide your business with measurable results. It allows you to track results in real-time, unlike traditional marketing which mostly relies on assumptions and estimations by using data-driven tools to track, analyze, and optimize campaigns. Digital marketing tools make it easy to measure ROI (Return On Investment) by linking spending directly to results, such as leads generated, sales made, or downloads completed.
Cost-effective
Digital marketing is more cost-effective than traditional marketing tactics, making it an excellent alternative for your business, particularly small and medium enterprises (SMEs) with restricted resources. Unlike traditional advertising channels such as television, print, and radio, digital marketing platforms enable organizations to begin with a modest expenditure. For instance, a social media campaign or pay-per-click (PPC) ad can be established with a little daily expenditure. Digital marketing tactics, such as PPC advertising, charge you only when a desired action is taken. This guarantees that funds are allocated specifically to results rather than wide exposure.
Building Brand Awareness
Digital marketing is a strong tool for increasing brand recognition, assisting you business in establishing its brand identity, and connecting with its target audience across numerous channels, as opposed to conventional marketing, which does not allow your brand to interact with its customers. It helps your brand to increase its exposure and notoriety in an affordable, scalable, and engaging manner. A unified digital marketing approach ensures that brand language, graphics, and tone are consistent across all media, increasing awareness and trust.
Increased engagement with customers
Digital marketing fosters stronger and more meaningful engagement between your business and its customers. Unlike traditional marketing methods, digital platforms enable two-way communication, allowing your brand to interact directly with its audience, build relationships, and gain valuable insights. Digital channels like social media, live chats, and email enable your business to respond instantly to your customer queries, feedback, and concerns, enhancing the customer experience.
By leveraging customer data and analytics, your business can tailor messages and offers to individual preferences. Personalized emails, product recommendations, and targeted ads make interactions more relevant and engaging.
Leveling the playing field
Digital marketing has democratized the business landscape by providing small and medium-sized enterprises (SMEs) with tools and platforms to compete with larger corporations. This “leveling of the playing field” allows businesses of all sizes to reach their target audience, build brand awareness, and drive sales without requiring massive budgets.
In the digital space, engaging and innovative content often matters more than budget size. A creative video, viral social media post, or well-executed campaign can generate significant results for small businesses.