Why Digital Marketing Is Crucial for New and Small Brands
Whether you’re a multi-national business or a local brick-and-mortar shop, the world of advertising remains as relevant as ever. In order to generate more sales, brand loyalty and positive attention, you need to market your products, services and self in as many ways as possible. In recent years, more and more brands are relying on digital marketing as one way to quickly gain exposure from new audiences. Some brands remain skeptical, however. If you’re somebody who hasn’t put much thought into what digital marketing can do, then keep reading to find out why you need it for your new or small business.
In today’s world of marketing, there is generally an inverse correlation between the cost of a service and its age. The oldest and most traditional forms of marketing tend to be the most expensive in terms of valuable impressions, while the newest tend to be the cheapest. A small business could choose to purchase a highly-visible billboard in a local area for one month and pay $2000 to reach a few hundred relevant people. Likewise, the same brand could spend that $2000 on social media advertising and target only relevant people across a much larger geographic area, pinging websites like Facebook and Twitter for months on end. Digital marketing – per impression – is much cheaper than traditional marketing. When you consider that more traditional forms of marketing are more easily ignored, the choice is clear.
Equal Footing with Bigger Brands
In traditional marketing, the biggest brands in an industry have a variety of advantages over newcomers and small companies. In the world of digital marketing, however, your playing field is substantially more level. This is because each brand has to utilize similar tactics, bid for identical ad spaces and come up with new ideas in the same mediums. Newer and smaller businesses have a greater ability to act quickly, whereas bigger brands have a process through which everything must occur. When you combine this with the fact that your brand is able to bid for specific audiences, target particular people and engage in meaningful social media commentary just like the big boys, it makes for a very potent ally in the fight for more brand awareness.
Studies have shown that digital marketing efforts aren’t just cheaper, but that they also generate more profit per identical investment when compared to traditional marketing. Most businesses in today’s world do not operate in a niche where traditional advertising generates the kind of attention necessary to succeed. For some small businesses, you may be the first to the party in terms of using digital marketing to target individuals; this can help generate a big advantage with various segments of your target demographic. With the ability to spend wisely, micro-target as necessary and generate more return on investment, the choice should be clear.
Digital marketing can help you save money, earn greater profits and level the playing field that usually tilts in favor of bigger companies. If you’ve been putting off digital marketing until now, tell us in the comments below why that is and what could convince you to embrace it.