Why Is Digital Marketing So Important?
SAMM is excited to be hosting the upcoming event Digital Marketing 101 on Thursday April 19 at FBE, Level 2/Theatre 3 at 2pm. Representatives from Google will be giving SAMM members a crash course in all the latest developments and advancements in the world of digital marketing!
But why is digital marketing so important right now? Well, since the advent of the Internet in the early ‘90s, there has been a growing interest for organisations, both in the profit and not-for-profit sectors to utilise digital technology for marketing purposes. However, more recently, with the widespread use of mobile phone technology and social media sites reaching a far greater market, there are even more opportunities for organisations to target audiences in a cost-effective way.
Here are a few important forms of cost-effective digital marketing:
Blogs, online advertising, viral marketing, website (SEO – Search Engine Optimization – content), PPC (Pay-Per-Click) advertising, email marketing, social media (Twitter, Instagram, Facebook, LinkedIn, Pinterest, Tumbler, YouTube, etc), and mobile marketing (SMS, MMS – Multimedia Messaging Service, etc).
And here are some benefits of digital marketing:
- It can reach the ‘mobile consumer.’ According to a Deloitte Australia survey last year, 88 per cent of people living in Australia own a smartphone, while in the age group consisting of 18-34 year olds, the use of smartphones is 95 per cent. Considering that consumers in Australia now have their smartphone often constantly within their reach, and use the Internet daily, it makes perfect sense to have a marketing strategy that targets smartphone technology, including email, social media and apps.
- It is cost-effective. Digital marketing is far more effective than more traditional forms of marketing, such as newspaper advertisements, etc. Indeed, many iconic newspapers have now switched to being solely online, most recently including the UK music ‘bible,’ NME (New Musical Express). However, this cost-effectiveness factor is particularly important for smaller businesses that make not have the funds to facilitate an expensive campaign. Social media, blogs, and email marketing can provide a more effective and cheaper method for marketing.
- Content can connect with consumers. Digital content enables organisations to connect with consumers more efficiently than PR campaigns, billboards or direct mailing. In fact, many marketing experts believe that a strong online presence is directly related to a successful business.
- It can increase conversion rates. Organisations that market services or products online can measure their success rate when the ‘traffic’ is converted into sales, leads or subscribers. Subsequently, organisations can improve and calculate their conversation rates.
- It can track consumers’ online behaviour. With tools such as Google analytics, organisations can monitor their customers’ preferences and actions, gaining a more revealing insight into consumer behaviour. Indeed, analytics allows organisations to build a customer profile, enabling them to provide a more tailored, ideal experience.
- Obtaining higher revenue and ROI (Return On Investment). When organisations increase the reach of their digital marketing campaigns, they can also increase their revenue. By extracting more data from their campaigns, organisations can make better business predictions, and increase their ROI.
- Getting more Likes for your organisation. It’s important never to underestimate the power of social media, as part of a digital marketing campaign. When consumers ‘like’ an organisation’s Facebook page/posts, Instagram posts, or tweets, then the organisation can gain more significance, while building credibility and trust with customers. ‘Likes’ can also bring new people to a company’s website, especially if these platforms are used to advise followers about company news, new products, blog posts or discounts/ sales.
- It encourages more social media engagement. Social media platforms are a great way for organisations to gain new customers. It is important to target customers in these platforms based on their country, age and interests. Thus, companies will be more effective in encouraging engagement and will have a greater opportunity to successfully interact with new customers through digital media.
- Earning consumers’ trust. Within the incredible ‘consumer democracy’ of the digital world, digital marketing gains credibility when consumers give real-life testimonials, with reviews and pictures of the products or services marketed by organisations. Indeed, many potential customers would be more likely to trust a product or service when others who they know have given information or feedback about certain brands. This is like an expanded digital ‘word of mouth’ form of marketing. Certainly, a glowing recommendation from someone with many followers on Instagram, Facebook or Twitter could often launch a lesser-known brand or revitalise an old brand. Reviews on the clothing site Revolve Clothing is a great example of this factor, with customers giving often brutally honest reviews of items of clothing. Good reviews could possibly entice new customers to try a particular brand/product, and bad reviews may deter potential customers to try a brand/product.
- Beating competitors. Many businesses have already turned away from traditional advertising methods and have focused on social media, SEO (Search Engine Optimisation), or Google AdWords. However, for organisations to stand out from their competitors, they can use Google Alerts to find out where their competitors stand. Subsequently, an organisation can monitor their products or marketing strategies, so that they can learn ways to improve their business.
With all these established benefits of digital marketing, we are eagerly anticipating what representatives from Google will say about the latest developments in the digital marketing world. We hope you will find the seminar interesting and informative, and come away with tips that will improve your employability in the field, or perhaps even your own organisation in the future!