Why Digital Marketing ?
Nowadays Internet has become the primary way through which businesses can reach people. People use the internet for their work, for staying in touch with their family and friends and to entertain themselves. No matter what product or service a business has to offer, the best way to reach customers is through the internet.
Most businesses face the dilemma of choosing between traditional marketing strategies (such as using pamphlets, billboards etc.) or digital marketing strategies (such as social media marketing, Search Engine Optimization (SEO) etc.
Advantages of Digital Marketing vis-à-vis Traditional Marketing
More accurate targeting
More Value for Money
Access to more Data
Lower initial investment
Lower barriers to entry
Access to global market
These advantages are discussed in detail below -
1. More Accurate Targeting -
Digital marketing allows targeting customer that may be directly interested in the sellers' product or services, e.g. Using Facebook ads' interest based targeting or employment sector based targeting consumers can be targeted for appropriate products. Or, Using Google Search ads to target exactly those customers who search for a product.
2. More Value for Money -
With digital marketing the return on Ad spend is much more then traditional marketing because it is less labor intensive, quicker, hassle free and has more focused targeting. Such factors make digital marketing much more worth the money spent.
3. Access to more Data
Digital Marketing allows businesses to craft data driven marketing campaigns. This happens in two ways; first, there is more user data to begin with and advertising can be done based on demographic data such as age, gender, location, etc. The other way is that businesses are able to collect data of users who already purchased their products or services and thus can be sold other products or services that might me of their interest and "Lookalike Audience can also be generated using platforms such as Facebook Ad Manager"
4. Lower initial investment
Digital Marketing does not require large sums of initial investment, Even small businesses who don't have a large marketing budget can use digital marketing to sell. This provides a relatively fairer marketplace in which even new and upcoming business have a chance to establish themselves in the market.
5. Lower barriers to entry
The barriers to entry in digital marketing are lower as compared to traditional marketing because it is easier to begin, has less hassle, has lower initial investment requirement, is less time consuming and less labor intensive. Just about anyone with a computer and internet can get into digital marketing.
6. Access to Global markets
Digital marketing allows customers to target the global audience, thus enabling niche product or service providers to become sustainable businesses and in general provides all businesses the same market reach that was only imaginable for large multinational corporations before.
7. Easily Scalable
With digital marketing, businesses can scale just by increasing their advertisement budget in the same ad campaign, there is no need to repeat every task of the process as is needed to be done in traditional marketing.
8. Environmentally Friendly
Digital marketing is much more environmentally friendly because it does not use paper, plastic etc. thus decreasing the carbon footprint of businesses. It also doesn't generate large amounts of physical waste like traditional marketing strategies do.