We know that businesses are moving their ad spend away from traditional media, and it’s been happening for a while now. It’s now continuing to happen at a growing rate, more than ever. With more control of your budget spend, more measurable results and ability to change things in real time – it is easy to see why digital marketing will continue to grow and dominate. As companies become more digitally integrated, many are seeing the benefits of digital marketing for their business growth and development.
Return on Investment (ROI) is a big question hanging over marketers at all levels of business. Marketers must prove their marketing spend in order to retain or even increase their marketing budget allowance. Digital marketing makes this easier to prove. Using channels such as social media, email marketing and even Google Ads gives marketers instant, real time visibility over the spend and results. Having the ability to track conversions instantly is a common reason why businesses are seeing the benefits in switching to digital media.
What’s even more beneficial is the ability to target specific audiences online. If you only want females, aged between 25-45yrs living in Sydney, Melbourne and Brisbane to see your ads and brand message – you can do that. Want to target people with a specific job title in a certain industry? You can do that too. And digital marketing makes it really cost effective too. There’s never been another marketing channel in history to provide this much detail, at such a low cost. A strategic social media campaign can ensure that your brand’s message is speaking to the most relevant potential customers by building out tailored personas based on location, gender, interests and income level, just to name a few.
With digital marketing, you get the flexibility that you cannot get from any other traditional marketing channels. Want to change tactic mid-campaign? Want to increase or decrease your spend? Want to change the message? Want to include new audiences to target? This is all possible with digital marketing through social media campaigns and Google Ads campaigns – but not possible through TV advertising or traditional print media.
Millions of dollars is still being invested in TV advertising, yet who is watching? Think about the last time you watched TV (not Netflix or Stan, but actual TV with ads). Now think about when the ads came on – did you watch, or did you instantly turn to your phone or device to start flicking through social media and Google? Research shows that most people are now distracted through ad breaks, and what’s more is that it’s not targeted – no where near as targeted as digital marketing can be.
By 2020, it is predicted that people will need 20 exposures to a marketing message before it is retained or actioned. 20 exposures! For marketers that becomes a very expensive exercise to get their message in front of people 20 times. Again, that’s why digital media is so beneficial. Most people have multiple social media accounts now across different platforms, so you can reach a person multiple times there, and more than once. You may only even pay a few cents or dollars to reach each person, making digital marketing a cost-effective strategy.
When you’re thinking about your next campaign, or annual marketing plan and how to allocate your budget – think of the possibilities with digital. It’s become the most sophisticated way to market your products and services. Get in touch today if you would like help with your digital marketing strategy.