What’s shocking is 4 out of 10 businesses don’t have even a basic digital marketing strategy according to a study by smart insights. CNN reported that billions of digital marketing dollars are being wasted as adverts fail to reach their potential audiences.
Just to put things in perspective, There are more than 3.9 billion internet users, 1.5 billion websites, and 2.7 billion Facebook users in the world, and still counting, let’s not forget the other platforms. The question is how can businesses go wrong with their digital marketing spends? On hindsight, this isn’t even a needle in a haystack scenario as the majority of the businesses have got their potential audiences in plenty.
Why Digital Marketing is Important?
Without a well-devised digital marketing strategy, businesses may experience everything from incorrect marketing channels and budget allocations to low organic rankings, website engagement, ROI and quality leads, even when the content stands out it fails to reach its target audience. Often businesses are unaware of where to start, thus they are led into a rabbit hole of marketing scams, online clickbait, and agencies with no internet marketing experience.
Often brands endeavor this journey on their own or at the hands of agencies with no digital marketing experience where tonnes of digital marketing budgets are being wasted on ads reaching to nonpotential customers. This mainly boils down to a lack of insights and research. Once the campaign is bombed, failing to reach its TG, the vicious cycle of “change” is implemented either by changing the personnel or the agency and the cycle continues until the so-called expectation is met?
In reality, there is a better mousetrap to this where the brand’s expectations are met reaching its digital potential. A well-defined, analyzed, and performing digital marketing strategy is a result of research, market study, competition analysis, customer insight, and most importantly identification of the right target audience, budget allocation, and the platforms to advertise or to stay relevant on.
A sound digital marketing strategy along with engaging and powerful content can save brands tonnes of money and time as we live in the “age of virality” where “content is king” only when directed at the right audience who can amplify it.
Marketing Research leads to predetermination like most strategies and is fine-tuned along the way according to industry trends and the platforms to advertise on. A software company’s SEO pertaining to its services or products might be stronger than their social media strategy as opposed to a restaurant’s social media with photorealistic images and videos of the food and its ambiance stronger than its SEO presence. This is usually industry-specific and only with research and a targeted digital marketing strategy can determine marketing channels, budgets and set realistic goals.
Key to Digital Marketing Success
For continuous digital or online success, brands must invest in multi-channel agencies that can cover their ATL, BTL, and Digital needs, by doing so they can save tonnes of time and money as all channels can support each other in reaching the brand’s goals cohesively.
Here are a few interesting numbers about the internet to base your digital marketing strategy on,
- 93% of online purchases start with a search engine.
- Google gets more than 77,000 searches every second.
- 72% of brands marketing online consider well-written and properly optimized content creation as the most efficient SEO tactic.
This shows how important it is to have a good SEO strategy along with relevant and quality content as it helps increase the rankings on Google, essentially your brand popping up higher on google searches.
- There are 3.2 billion social media users every day.
- An average of 142 minutes is spent on social media every day.
- 98% of sales targets are reached through social media selling.
According to Emarsys, there are 3.2 billion social media users who are active every day, which translates to about 42% of the population. Thus proving to be the most effective form of marketing in today’s age and the future to come.
In July 2020, Yieldify researched with 400 eCommerce leaders across the UK and US.
Here are some of the interesting findings:
- Over 74% of companies surveyed already have a website or application personalization and marketing program in place.
- In 2020, retention (58%) has overtaken conversion (55%) and acquisition (45%) as the key goal for website marketing.
- Only 54% currently use AI-driven predictive analytics segments and algorithms. However, this was identified as an area of high potential growth and future, as 89% of verticals expected to be using it by the end of next year.
- The three major obstacles in the way of scaling a personalization strategy are a lack of skills (37%), limited functionality (36%), and a lack of time (35%).
These numbers are an evident indicator of the conversion rates for eCommerce businesses. This means consumers and brands are getting what they set out to and more, brands are investing more on strong digital strategies resulting in a success curve, also have started to understand their consumer needs using machine learning and artificial intelligence to maximize every penny spent on their digital marketing by data mining and analytical methods to obtain the focus areas. This also proves brands are spending more on retaining their customers as opposed to acquisition.
- At least 90% of the world’s population own a mobile device.
- Over half of all online purchases end up on a mobile device.
- 51% of consumers identify or search for new products on mobile devices
- 88% don’t go back to a brand after a bad experience
Businesses nowadays have plenty of opportunities to explore, market a brand, products, and services. Mobile phones have changed the landscape of marketing as accessibility has become instant with a wide variety of options to browse from and compare giving the consumers to check out whatever they want, whenever they want it.
Having explored the dynamic world of digital marketing, there is a stronger sense of awareness among brands and individuals about determining and setting realistic expectations based on research, market study, and insights, thus the results are often met or outweigh the expectations. You can check out our services at Our services