Digital Marketing Costs Less
Traditional marketing campaigns, including print and television, are more costly because of pricey resources and the difficulty of tracking ROI. Digital marketing uses targeted research and analytics to quickly determine which approaches are working well and which aren’t worth the cost or resources. So, most digital marketing channels tend to be less costly from the start and prevent overspending on under performing campaigns.
Small Businesses are More Competitive
Digital marketing closes much of the gap between large, medium, and small companies because it avails each level with many of the same resources. While big companies with larger budgets will be able to spend more on paid ads and advanced software, digital marketing gives SMBs more opportunities to compete, improve brand awareness, and build an audience.
ROI Measures Program Results
ROI asks the question, “What kind of results do my programs deliver?” While it’s not the easiest marketing measurement to calculate, the finished product is hugely valuable to measuring success. Single attribution (first touch/last touch) is the method of measurement used by nearly half of marketing teams. This method acknowledges the theory that it takes an average of seven touches to convert a cold lead to a sale, and puts the highest value on the first or last touch. When it comes to traditional marketing, it is much more difficult to measure the ROI of a print ad than it is to measure that of a digital ad, because the audience of a print ad is so much broader. With digital marketing, which can target specific audiences, it is easier to determine which ad led to which sale. Other methods of measuring ROI are attribution across multiple programs and people, test and control groups, and market mix modelling.
A/B Testing Hones Communications
One of digital marketing’s best allowances is the ability for a company to experiment with almost every aspect of a marketing campaign. A/B testing the location of an email sign-up CTA, the color of a promotional banner, a subject line, etc., is much easier—and results are available much faster—on digital channels. With some diligence, simple changes can be tracked and used to target customers more effectively. For example, testing can be used to better engage a target audience, improve CTRs, help drive buyers through their journey and more. The results of A/B testing can be used to improve targeting of print ads as well. For example, if a company is targeting the same audience on Google as it is in a print magazine ad, the same language will be effective for both.
Mobile Marketing Increases Engagement
Analytics Improve Business Models
Measuring digital analytics helps companies make informed decisions about where to invest their resources, improving efficiency. Gathering numbers for traditional marketing channels is a manual process, while most digital platforms, including social media and marketing automation, have built-in analytics dashboards with all of the data automatically available. View reports on dashboards for easy visuals, and map the customer journey, measuring performance metrics at each step.
Email Marketing Still Communicates Best
A good digital marketing strategy should cater to the audience’s preferences. Most people, 72%, in fact, prefer to hear from brands via email, making a strong case for an engaging email marketing strategy. Email marketing puts targeted messaging right in front of customers and potential customers. When automated, trigger emails can even be sent automatically based on customer activity, further personalizing interactions.
Social Media Builds Trust
A referral from a friend instantly makes a company seem more trustworthy to potential customers. Digital advertising leverages social media to make “likes” and other online reviews visible to friends of customers. Recommendations make a company stand out from the competition, automatically building trust.