20 Oct Top Ways Your Company Can Benefit from a Digital Marketing Strategy
Twenty years ago, business owners often took out newspaper, magazine, and billboard ads as a means of getting their message out to potential customers– but the ROI from those types of strategies was hard to track. No one could ever pinpoint how many people saw those ads, nor did they know the percentage of viewers that converted into customers.
Traditional marketing methodologies (i.e., print and radio ads) still exist, but today, savvy business owners are investing in digital. Online marketing not only comes at a much lower cost, the efforts are trackable, measurable, and scalable.
With online marketing, you can track your campaign’s performance
Are you planning to use an email marketing campaign? If so, you’ll be able to track how many emails were sent, how many were opened, and the number of sales the campaign generated. Social media ads can be tracked in a similar way.
If your campaign is doing well, you might decide to invest more money in it. On the other hand, if it’s not generating as much interest as you’d hoped, the campaign can be adjusted accordingly. You can also stop it (and retool it) if necessary.
You can target specific demographics
Let’s say you have a product that you want to market to new parents aged 22-26 who have an annual household income of more than $120,000 per year. Could you take out an ad in a parenting magazine? Yes, but you’d never know the exact reach of your campaign.
When you market on one or more digital platforms, you can fine-tune your efforts out of the gate. Hyper-targeting your desired demographic can help you generate more sales.
It’s cost effective
Regardless as to whether you have a $500 budget or a $5,000 budget, online marketing campaigns can be tailored to your needs. When you hire a digital marketing partner, be clear about how much you have to spend, your goals, and how you’d like to move forward. If you want to up your budget in 3 months because the efforts are paying off, you can do that. Or, if you decide that the strategies you’re using aren’t working as well as you’d hoped, and you want to scale back and/or try something new, that’s an option as well.
For more information about the benefits of investing in online marketing, we’re here to help. Call WBN Marketing today to speak with a local expert.