The use of digital technologies for marketing of products and services through the Internet, including cell phones, display advertising or any other digital medium is called as digital marketing.
In today’s scenario digital medium has an immediate impact on how businesses fair and businesses that do not cope with new marketing technologies are in immediate threat of losing out to competitors. Surprisingly, as of 2014 as per Deloitte Report for Google Australia stated that a number of SME’s in the country didn’t have digital engagement for their customers and a number of them didn’t even have an online presence. The findings also stated that investments in digital marketing could help businesses immediate returns. These are outlined below:
With the advent of digital marketing for players large or small, has created a level playing field. Using traditional methods of marketing, smaller retailers, would find it difficult to match the customer reach of bigger companies. Since, bigger companies have large pockets to spend on marketing and advertisements to reach out to a large number of customers. However, smaller players can use digital marketing to sell their products online and offer better services to compete with bigger players.
Decrease in operating costs
Digital marketing also allows smaller players to operate at a reduced cost compared to larger players who invest huge amounts on advertising and marketing. Digital marketing with little cost can provide avenues to small players to market and sell their products globally.
Measurable and actionable performance
In modern day business, it is easier for companies to measure their performance using digital marketing tools such as Google analytics. The use of these tools has allowed players to achieve goals for their websites, blogs which was not possible through traditional methods. Users come to know about customer conversion rates through these tools. These tools also provide users’ insights on peak traffic times and also know about products that have more clicks. Based on these results users can focus their marketing efforts.
Better Quality Control
Businesses are able to maintain quality in their websites focusing on users’ needs and offering added value to their target customers, which in turn offers significant value in terms of opportunities through lead generation.
Digital marketing offers better revenue sources in terms of exposure to new customers. Over the past decade wherein companies used to adopt traditional marketing, they had to invest huge amounts of money to market their products in different locations. Investments in these locations enabled them to reach different sets of customers. Digital marketing has enabled businesses to reach out to large customer sets by a single investment. The usage of keywords has enabled businesses to increase page rankings and improve their visibility on the web. As a key strategy in digital marketing, it is important to use unique keywords and gain better visibility.
Increase in Customer Engagement
There are quite a number of cases where digital marketing has helped companies to market their products widely. Integration of social media sharing on websites, e-mails has enabled companies to share their message quickly. However, a downside to this is a bad review of a product can also spread out wildly impacting one’s business. But, businesses should not be bogged down by negative publicity and try to offer solution to the clients. This offers great engagement between a buyer and seller resulting in better business opportunity.
Thus, it for SME’s in Australia to pull up their gearings and adopt digital marketing practices to capture not only the country’s market but also engage with customers globally.
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