If you are an entrepreneur, it is likely that you have a limited marketing budget. Thankfully, you have to take advantage of digital marketing in order to successfully market your products or services in order to generate revenue and grow your business, says Scott Duffy. In the earlier days, it was difficult for entrepreneurs to get traction for the products or services they were selling due to lack of marketing budget but digital marketing has leveled the playing field.
These days, even those with limited marketing budgets can try out different digital platforms and test a variety of marketing campaigns in order to discover the best platform that works for their particular business. If you are an entrepreneur, and you are still not taking advantage of digital marketing, here is a list of some of the major benefits of digital marketing for entrepreneurs to help you get started with digital marketing.
Benefits Of Digital Marketing
One of the biggest benefits of digital marketing is that most consumers use either a search engine result or recommendations on a social media site to discover new businesses before they spend money on a product or service. In other words, it’s extremely easy for entrepreneurs to get their product in front of potential customers in the buying phase. A well drilling company such as Pruitt Water would do well by putting themselves in front of local customers on Google. As a business owner, digital marketing offers you a great opportunity to place advertisements on various social media networks or on search engines when potential customers are searching for the particular product or service being sold by you. There is no need for you to have a huge marketing budget to advertise your product or service as you can open a self-service advertising account on these platforms and advertise your product and services.
Another big advantage of digital marketing is that it has a much higher conversion rate as compared to TV advertising or radio advertising or other forms of traditional advertising. In fact, a well-optimized landing page is known to have a conversion rate as high as 15-20%. There is no other medium that can get you such a high conversion rate on a consistent basis. Whether you want to make sales or generate leads, digital marketing offers you everything on a platter.
Digital marketing saves entrepreneurs a lot of money. This is the reason, spending on digital marketing has outgrown spending on TV advertising and various other forms of traditional advertising. Almost all businesses, big or small, want to take advantage of this huge opportunity and they can do that by creating specific digital marketing campaigns with specific KPIs. In fact, many research reports suggest that business owners can save up to 40% of their marketing budget by investing it smartly in digital marketing and on the dot translations. It also means that you now have 40% more budget to market your products and services which means you can now reach out to more potential customers. If you’re looking to learn how to break through in your business then you should check out one of Scott Duffy’s Books!
One of the biggest problems associated with TV advertising, radio advertising or print advertising is that there is no targeting involved. You have to buy advertising space and hope that your target customer base views the advertisement. However, there is no guarantee that you will be able to reach the intended audience when you advertise on these mediums.
On the other hand, digital marketing gives you complete freedom as it allows you to reach the intended or targeted audience precisely. Digital marketing can help you build a reputation as an influencer. For instance, advertising on various social media platforms allows you to target consumers with specific interests. Similarly, you can easily target consumers on search engines who are trying to find information related to a particular product or service. This is not possible with any other advertising medium.
Over the past few years, smartphones have emerged as a device that keeps people connected at all times. Many research reports suggest that more than 85% of adults carry a smartphone and they check their smartphone regularly for messages, notifications and to keep up with things. Digital marketing allows you to tap into this huge market through mobile advertising. There are many popular mobile apps that allow you to reach targeted consumers at an extremely low price. So, take advantage of this opportunity and place your product and service in front of targeted customers at a cheap price.
Measurable Digital Marketing
One of the most important but often ignored aspects of digital marketing is that it makes everything measurable. There is an old saying that anything that can be measured, can be improved and this is especially true of digital marketing. Since you can measure every single click, every single redirection, the behavior of users and a lot of other things, it allows you to continuously improve your marketing campaigns in order to achieve higher ROI. On the other hand, there is no other advertising or marketing media that allows you to measure so many parameters and if you can’t measure things, you obviously cannot improve things as much.
As mentioned in the beginning, digital marketing has leveled the playing field. These days, entrepreneurs can compete with big corporations by advertising on a small scale. You can quickly reach targeted customers by running a small campaign on Facebook or Google or various other social media channels and search engines in order to reach your intended customer base at a low cost. If you are innovative and willing to try out different types of marketing campaigns, you can easily take on large corporations and become successful.
Overall, these are only some of the major benefits of digital marketing for entrepreneurs. It has a number of other benefits but you need to be innovative in order to take full advantage of digital marketing. It is also imperative that you create a comprehensive marketing strategy to take advantage of different aspects of digital marketing including email marketing, social media marketing, search engine optimization and pay per click advertising among others.