Technological advancement is undoubtedly the single most outstanding driver of changes in business today and has revolutionized marketing strategies for businesses. Technology has brought about electronic media which has opened a wide range of marketing platforms which businesses can use, e.g. mobile apps, podcasts, social media, text messaging, instant mobile messaging, electronic billboards, etc.
These platforms offer more than just product or services marketing. They also offer entertainment, information, interaction and news all in one go and create a “marketing information on demand”-approach where customers can access the information when and where they want it.
These marketing approaches enhance the growth of your business in the following seven (7) ways:
1. Analysis and monitoring of marketing successes
Almost all of these new age marketing platforms offer some form of analysis and monitoring capabilities that businesses can use to monitor the successes and challenges of the various electronic marketing approaches used and the level of interaction and reach to the target customers.
The outcome of the data realized from these analyses helps the businesses to re-strategize and redesign their marketing strategies in order to achieve their expected outcomes and reach more customers. The analysis also enables you to make better decisions by using the specific information out of the analysis of the huge datasets collected.
2. Cost effectiveness
Unlike traditional marketing approaches like print media, electronic marketing is cheaper and the outcomes are much better than the traditional marketing techniques. Subsequently, the marketing budgets of businesses that have taken it up has significantly reduced, thus reducing their recurrent and operational expenses (opex), and thus boosting their profitability.
For example, social media has provided a great avenue for content marketing and creation of an online presence through which businesses are able to build and enhance their brand at almost free costs (very low costs), as well as penetrate the global market with so much ease.
3. Interaction with your target market
Electronic and Internet marketing incorporates strong real-time interaction with the target audience, which enhances customer satisfaction as businesses are able to get instant feedback about their products, services or marketing approach and act on the feedback to give their target market exactly what they want.
The right interaction with the customers, either to customize your products and services or to get recommendations from them, helps build better relations between the customers and your brand and this helps in building trust and loyalty to the brand.
4. Getting mobile
Most Internet users in this time and age are using their portable devices to access the Internet while on the move. To reach this market of people on the move, a marketing strategy that is specifically targeted at getting information to be accessible on mobile phones and other portable devices is critical.
Electronic marketing helps you to use such a strategy, which enables you to customize the type and format of the content being marketed to be accessible on such devices.
5. Greater market reach
Electronic and Internet marketing is only limited to your capability. The reach of such marketing approaches is global, opening more markets for your products using a simple yet worldwide infrastructure, which is the Internet.
With simple strategies like Search Engine Optimization (SEO), your products and services are easily reachable to customers throughout the world through a simple search using keywords that match your keywords in your website and content.
6. Increased conversion rate
Businesses that use Internet and electronic marketing strategies can measure the conversion and success of their marketing approach by the traffic to their websites and the percentage of these visitors that are converted to actual leads who make enquiries or subscribe to the business’ products and services.
Without the use of conversion tracking strategies, it would be futile for your business as you would be unable to know how efficient your marketing strategy is.
7. Leading your audience to take favorable actions
With platforms like social media marketing and others, you are able to use strategies that are enticing to the target audience that will make them take an action that is most favorable. Such strategies may lead the targeted audience to follow some actions that will end in them subscribing to a forum, placing an order for a product, revisiting the site or some other predetermined action that will be favorable to the business.
The fact that digital marketing has huge successes and effectiveness compared to the traditional marketing channels does not mean that they are without their challenges. They do have their challenges, which calls for more prudence and expertise to be able to reap maximum benefits.
Thus, there is need for thorough research and study of these digital marketing channels, but in case you are not able to undertake the whole process, you can contract some SEO Chicago firms to do it for you with much ease and at a relatively favorable cost.