How does a business define digital marketing?
At this stage, digital marketing is vital for your business and brand awareness. It seems like every other brand has a website, and if they don't, they at least have a social media presence or digital ad strategy. Digital content and marketing is so common that consumers now expect and rely on it as a way to learn about brands. Because digital marketing has so many possibilities, you can get creative and experiment with a variety of marketing tactics on a budget.
Overall, digital marketing is defined by using numerous digital tactics and channels to connect with customers where they spend much of their time: online. The best digital marketers have a clear picture of how each digital marketing campaign supports their overarching goals. And depending on the goals of their marketing strategy, marketers can support a larger campaign through the free and paid channels at their disposal.
What is the real definition of digital marketing?
Digital marketing, also called online marketing, refers to all marketing efforts that occur on the internet. Businesses leverage digital channels such as search engines, social media, email, and other websites to connect with current and prospective customers. This also includes communication through text or multimedia messages.
A seasoned inbound marketer might say inbound marketing and digital marketing are virtually the same thing, but there are some minor differences. And conversations with marketers and business owners in the U.S., U.K., Asia, Australia, and New Zealand, I've learned a lot about how those small differences are being observed across the world.
Why is digital transformation marketing important
Digital Transformation marketing helps you reach a larger audience than you could through traditional methods and target the prospects who are most likely to buy your product or service. Additionally, it's often more cost-effective than traditional advertising and enables you to measure success on a daily basis and pivot as you see fit.
There are a few major benefits of digital marketing:
You can focus your efforts on only the prospects most likely to purchase your product or service.
It's more cost-effective than outbound marketing methods.
Digital marketing evens the playing field within your industry and allows you to compete with bigger brands.
Digital marketing is measurable.
It’s easier to adapt and change a digital marketing strategy.
Digital marketing can improve your conversion rate and the quality of your leads.
You can engage audiences at every stage with digital marketing.
Let's dive deeper.
1. You can focus your efforts on only the prospects most likely to purchase your product or service.
If you place an advertisement on TV, in a magazine, or on a billboard, you have limited control over who sees the ad. Of course, you can measure certain demographics — including the magazine's typical readership or the demographic of a certain neighborhood — but it's still largely a shot in the dark.
Digital marketing allows you to identify and target a highly-specific audience with personalized and high-converting marketing messages.
For instance, you might use social media targeting to show ads to a certain audience based on variables like age, gender, location, interests, networks, or behaviors. Alternatively, you might use PPC or SEO strategies to serve ads to users who've shown interest in or searched for specific keywords related to your product, service, or industry.
Ultimately, digital marketing helps you conduct the research necessary to identify your buyer personas and refine your strategy to ensure you’re reaching prospects most likely to buy.
2. It's more cost-effective than outbound marketing methods.
Digital marketing helps you track day-to-day campaign performance, so you know what channels are performing well and which aren’t, helping you optimize your campaign budgets for high ROI. The same can’t be said for traditional forms of advertising. It doesn’t matter how your billboard performs — it still costs the same, even if it doesn’t convert.
Plus, with digital marketing, you have complete control over where you choose to spend your money. Perhaps you spend money on design software to create high-converting Instagram content rather than paying for PPC campaigns. A digital marketing strategy allows you to pivot continuously, ensuring you never waste money on channels that don't perform well.
By and large, digital marketing is a more cost-effective solution and provides unique opportunities to ensure you get the most bang for your buck.
For instance, if you work for a small business with a limited budget, you might try investing in social media, blogging, or SEO – three strategies that can give you high ROI even with minimal spending.
3. Digital marketing evens the playing field within your industry and allows you to compete with bigger brands.
If you work for a small business, it's likely difficult for you to compete with the major brands in your industry, many of which have millions of dollars to invest in campaigns. Fortunately, there are plenty of opportunities to outrank the big players through strategic digital marketing initiatives.
For instance, you might use long-tail keywords to create high-quality content that ranks on search engines. Search engines don’t care which brand is the biggest, but it does care about prioritizing content that resonates best with target audiences.
4. Digital marketing is measurable.
While traditional advertising can be helpful for specific goals, its biggest limitation is measurability. This is one of the biggest benefits of digital marketing, as it can give you a start-to-finish view of all the metrics that matter to your company — including impressions, shares, views, clicks, and time on page.
Unlike most offline marketing efforts, digital marketing allows marketers to see accurate results in real-time. If you've ever put an advertisement in a newspaper, you'll know how difficult it is to estimate how many people flipped to that page and paid attention to it. There's no surefire way to know if that ad was responsible for any sales at all.
On the other hand, with digital marketing, you can measure the ROI of pretty much any aspect of your marketing efforts.
Here are some examples:
Website Traffic
With digital marketing, you can see the exact number of people who have viewed your website's homepage in real-time by using digital analytics software available in marketing platforms like HubSpot.
You can also see how many pages they visited, what device they were using, and where they came from, amongst other digital analytics data.
This intelligence helps you prioritize which marketing channels to spend more or less time on based on the number of people those channels drive to your website. For example, if only 10% of your traffic is coming from organic search, you know that you probably need to spend some time on SEO to increase that percentage.
With offline marketing, it can be difficult to tell how people interact with your brand before they interact with a salesperson or make a purchase. With digital marketing, you can identify trends and patterns in people's behavior before they've reached the final stage in their buyer's journey, meaning you can make more informed decisions about how to attract them to your website right at the top of the marketing funnel.
Content Performance and Lead Generation
It’s easier to adapt and change a digital marketing strategy.
A lot of work goes into developing a marketing strategy. Generally, you will follow through with that strategy until completion, allow it to take effect, and then judge its results. However, things do not always go according to plan. You may realize halfway through that a calculation was off, an assumption was incorrect, or an audience did not react how they were expected to. Being able to pivot or adjust the strategy along the way is highly beneficial because it prevents you from having to start over completely.
Being able to change your strategy easily is a great benefit of digital marketing. Adapting a digital marketing strategy is a lot easier than other, more traditional forms of marketing, like mailers or billboard advertising. For instance, if an online ad isn’t delivering as expected, you can quickly adjust it or pause it to yield better results.
Digital marketing can improve your conversion rate and the quality of your leads.
As digital marketing makes it simpler to measure your marketing efforts, this makes improving your conversion rate simpler as well. Being able to measure the effectiveness of each tactic helps you develop better strategies. Continuously refining your methods improves your conversion rate. Investing in online marketing ensures that everything is optimized for the highest amount of conversions.
Additionally, all leads do not offer the same value for your business. Digital marketing allows you to target a specific audience that will yield higher-quality leads that are more likely to become customers. Connecting your business with the most valuable leads will directly improve your conversion rate.
5. You can engage audiences at every stage with digital marketing.
It’s essential to begin engaging your audience as early as possible. Making a connection at the first stage of the buyer’s journey helps push the lead through the customer funnel. Using digital marketing allows you to accomplish that from start to finish and at every point in between.
Online channels allow you to follow the entire buying journey of your customers. Understanding and analyzing how customers are move and operate is important for converting leads. Digital marketing allows you to track them through that process. And, even if they don’t convert in the early stages, it at least helps ensure they have made a connection with your business.
