Today, there are over 3 billion people on the Internet. That’s a monumental increase from only 361 million in the year 2000. Experts say that the number is only going to get bigger.
With that in mind, many businesses are deciding to go digital, especially with advertising. According to a Get Response study, over 70% of small and medium-sized enterprises are planning to increase their focus on digital marketing, which makes a lot of sense because digital marketing generates three times as many leads and costs 62% less than traditional outbound marketing.
- Growing Market
The explosion of mobile broadband in recent years has resulted in a twelve-fold increase in mobile Internet use since 2007. Statistics show that smartphones are one of the top ways consumers find products: 48% of people use their smartphones for mobile research and another 51% have discovered new brands and products on their smartphones (Hubspot).
This development also coincides with the advent of social media and blogging. Many of today’s consumers prefer digital marketing to traditional advertising because it is much more accessible. Moreover, over 70% of consumers prefer getting to know brands with articles instead of ads.
- Cost Efficient And Effective
Social media advertising costs much less than traditional modes of advertising. Cost Per Thousand Impressions (CPM) statistics show that social media advertising ($2.50) costs much less than billboards ($5), radio ($10), newspaper ($16), magazine ($16), television ($28), and direct mail ($57). This gives marketers great value for money, especially when considering social media generates thrice as many leads as traditional advertising. When used in conjunction with integrated media planning companies like Sherwood Integrated Solutions, digital marketing enables advertisers to reduce ad expenses by a significant margin.
- Real-time Feedback
Digital marketing applications like Google Ads and Facebook Analytics can monitor advertising campaigns in real-time. Nearly every statistic–the number of clicks a website receives, how many customers each advertisement converts, etc.–is trackable. Moreover, these applications can be customized to meet specific goals.
- Two-Way Interaction With Customers/Subscribers
Unlike traditional outbound marketing, digital marketing facilitates two-way interaction between brands and consumers. In the same way brands can reach consumers at a personal level, consumers can communicate with brands directly. This symbiotic relationship benefits both brands and consumers in a way that outbound marketing cannot.
- Greater Trust
90% of consumers trust social media recommendations and another 81% of shoppers conduct online research before big purchases (Hubspot). Digital marketing improves trust between brands and customers by creating an environment that enables feedback and recommendations via online communities. This enables consumers to hold brands accountable and give brands the opportunity to address issues immediately.
- Opportunity To Get Creative
Because digital marketing is so broad and offers so many different tools, marketers and advertisers have a unique opportunity to get creative with their campaigns. Gimmicks such as caption contests, live broadcasts, social media competitions, and the like become easy to execute.
In addition, brands can consult with digital marketing specialists such as SherwoodIS.com to craft high-impact, cost-effective campaigns.