6 Factors to Be Considered Before Investing in Digital Marketing in 2023
Digital marketing may be one of the most effective ways of growing a business, especially if you have just started your own business.
Starting your own business in the modern world of the 21st century is much easier than in the past because all you have to do is create a website where you will be able to present and sell your products or services. Before the internet, a business owner would have to create some kind of a physical store or office if they expect customers to buy from their products. Sure, you could post an ad in a newspaper, but that wasn’t nearly as effective as having your own store.
Fortunately for you, today, all you need is a website of your company and to invest in digital marketing. However, you cannot expect that customers will be interested in what you have to offer if you do not have a proper website set-up. You will also have to make sure that you are investing in the right section of digital marketing.
So, if you are still not sure whether you should invest in digital marketing, here are 6 factors and reasons why you definitely should.
1. The Internet is the Future
It is no secret that the Internet is one of the best ways you can access information today. Almost everyone has a phone in their pocket, a tablet in their backpack or a laptop in their briefcase, ready to access any website they want in a matter of seconds. Sure, we still rely a lot on classic telecommunication to make regular calls to our friends, coworkers, and family, but a lot of people have started completely transferring to internet communication. It is simply is faster, better and possibly even cheaper (depends on your location).
So, how does this translate to digital marketing and your business? Well, if you decide to invest in digital marketing, it means that you putting your money in a place with a safe future. People won’t stop using the internet in a couple of years because nothing will be able to replace it in the near future. Phones, TVs, billboards and other ways of advertising are probably more prone to “extinction” which means that investing in these marketing strategies is actually much riskier.
2. Higher accuracy in an advertisement
When you opt for television marketing strategies, you can’t exactly pinpoint what type of audience you are reaching at. The person in front of the TV watching the ad might be an adolescent, they might be an adult or even a retiree. You simply do not have access to this type of information which means you can’t control who you are targeting with your ads.
When digitally advertising your products or services, you can effectively choose your audience by any kind of factor you want. You can target them by age, location, previous search history, interests, etc. In other words, every single dollar you invest will not go to waste.
3. Wider reach
Small business owners always had the trouble of properly spreading their message and their brand to their audience because investing in marketing was simply too expensive. Most small businesses have a tiny budget, especially when it is about the marketing segment.
However, investing in digital ads is another story. Not only will you pay a lot less for this service, but you will also have a reach better than ever. Keep in mind, some products are better advertised to a local audience. You should definitely first consider whether this factor will help you benefit.
Let’s give you an example of just how digital marketing is cheaper.
You invest in a local TV channel at 9 PM and you will probably get a couple hundred thousand viewers if you are located in a bigger city. Smaller local channels will bring you a much smaller audience. Now let’s compare this to a digital ad on the YouTube video streaming platform. You provide a certain channel with your ad which might be cheaper than paying for an ad in a TV station. Depending on the channel, the video might reach several million views in just a couple of days or sometimes even a couple of hours. You are effectively spreading your brand name to millions of people all over the world for the same price.
5. Easier analysis of results and better engagement
Another thing you should factor in is just how easy is to analyze the results after you have activated your marketing strategy. You won’t have to contact the TV station just to get a raw number of how many viewers were present for your ad or anything like that.
There are hundreds of online tools you can use to monitor your results in real-time. You can check exactly how many people have seen your message, at what time, and you will also have access to information about your audience. You can then easily use these results you have acquired to improve your advertising strategy and maximize your conversions.
Another thing you should consider when it comes to a digital advertisement is the fact that you will have a much better engagement with your customers. Social media platforms such as Twitter, Facebook, Instagram, etc. give you the ability to communicate with your audience through comments, direct messaging and likes.
6. Faster and simpler
Building your own marketing strategy is never easy, doesn’t matter if it is old school or digital. However, the digital way of advertising your brand has a lot of advantages over the old school ways, but the biggest advantage is its speed.
Once you have created your ad, its release requires just a click of one button. The reach is almost instant and you will get your results back in just a couple of minutes. Why should you wait for hours or even days just for your ad to run on the radio or on television? The internet is just faster and simpler.