Apr
Digital Marketing- Boon to Business
According to research, 85% of consumers look for a product online before buying it. 74% of the time consumers use websites to find out about the products. 38% of the time consumers use social media to get to know about the product they want.
Marketing has become a game, which can grow or finish the business in just a few days. Businesses reflect their values towards society by marketing campaigns which in result help in building the reputation and brand of the business. If done right, marketing can make the business one of a kind but one should be careful while putting effort into marketing. Efforts in marketing must be made in the right direction, to the right audience, at the right time, in the right manner and through the right platform. And digital marketing is the answer to all such issues as it is cost-effective, has massive reach, and has a lot more benefits than one can think of.
Having an online presence is become important like never before, growing competition from e-commerce and giant chain stores has made it unprecedented to have an online presence for local and small businesses and the remaining need has been compensated by the pandemic. Hence, to sustain in the market and for the existence and growth of the business, having an online presence and using digital marketing has become vital.
Why is Digital Marketing important?
1. Increase in Reach-
In this digital era, where almost each and every possible activity takes place online. Consumers too have become used to finding everything on the internet. Whether buying bricks or fans and even groceries, customers have started to look for everything on the internet and hence it becomes important for businesses to be present online. As everybody is on the internet, being present online increases the reach of business as for buying anything customers first go on the internet.
Having online presence gives a larger span for businesses to showcase themselves, and to connect with people within business’ location and beyond, as internet does not follow any geographical barrier or physical distance, hence with the span, grows the reach of business and with reach grows the market share.
2. Improves Showcasing
Digital marketing not only gives online presence to business but also provides multiple avenues to connect with larger audiences. Biggest benefit of having online presence and digital marketing is the convenience of displaying and showcasing products and services to prospects.Making it an attractive and easy way to grab customers attention.
Digital marketing comes with innovative tools including online catalogues, photo albums, videos, demonstrations, virtual trials. These tools improve showcasing of products for business & at the same time making it easy for consumers to make their purchase decisions.
3. Can make a Business, a Brand-
The beauty of digital marketing is that it makes it possible for businesses to connect with audiences that are thousands of miles away, making it a convenient way to connect with larger audiences.
A business becomes a brand when they deliver what they promise, having digital marketing and online presence encourages the spread of these promises and its fulfilment to masses, gaining credibility of a larger number of people, being available for larger numbers of people, making it easier for business to become a brand from a business.
Even a niche business can become a brand quite easily with help of digital marketing and online presence as businesses get to enjoy niche markets of larger geographical areas.
4. Building Network-
Business grows with growth of its network, online presence and digital marketing gives door to untapped and free resources which can be helpful for making business one of a kind.
The objective of using digital media for marketing is to connect with more people of the business chain, these people could belong to the backward as well as forward side of the chain. It helps to make connections and build networks which in return gets business the effectiveness of having connection,and provides benefits such as cutting customer acquisition cost, cutting raw material procurement cost, getting exclusive supply benefit.
5. Increased Access-
Once something is on the internet it remains there forever, the internet is available 24x7 and displays business on it all day, all week, all year long. This all time availability enables prospects and target customers to find business and its product at the convenience of anytime and anywhere. When a local business has an online presence and their details are accessible on an all day long basis, customers can research about their requirements any time and can conveniently make the purchase whenever feasible for them. Online presence and digital marketing helps businesses to serve customers even when the store is closed and at non - business hours as well.
Even a smaller effort made in digital marketing magnifies its effects multiple times due to algorithms and social networks, making it easier for customers to find out different businesses available in the market.
It is vital for all types of businesses to have an online presence in order to maximise their business as these tools help customers to get details about their needs from search engines and the internet.
Due to growing and undue importance of having online presence and digital marketing, businesses nowadays hire professionals for digital marketing, SEOs and creation of their online presence.
6. Engaging Business-
Digital marketing, specially on social media platforms makes it easy for businesses to connect and engage with the prospects, targets and customers.
Getting reviews and feedback online is easy and helps to create engagement with the customers.Helps in knowing customers better, improvements required in business or product.
Having better engagement with customers helps businesses to have a positive image and this image building increases chances of prospects and targets to become customers resulting in improved sales, revenue and profit for the business.
7. Building Relation-
Online presence and Digital Marketing allows business to connect with its audience and customers directly, increases business credibility, helps in creation of emotional connect and hence resulting in building of a relationship between business and its customers. Posting of posts, liking, commenting and interaction with customers and prospects on the social media helps businesses to make stronger relationships with customers.Strong relations with customers help for loyalty creation and hence, increased sales, revenue and profit.
8. Effective Marketing-
Digital Marketing has more options and innovative ways to market the product and also has a wider range and scope for marketing.
A business along with its local customers can market its business to prospects in different cities, states and even countries.Which magnifies efforts made for marketing as at the same cost, reach is widened resulting in cost effective marketing.
Digital Marketing has innovative and attractive tools such as video advertisements, easy call to action posts, engaging content which increases effectiveness of marketing.
It also enables businesses to have well designed, full of information, attractive websites to create engagement and ultimately intensified and more impactful marketing.
9. Convenient Sales-
Customers do not like being pressured and online presence of business and convenience of digital marketing eliminates this pressure and gets customers the relaxed and comfortable experience of making the purchase decision.
Customers do not buy when you ask them to do so but they surely buy if they feel connected and curious about the product. Digital marketing lets businesses have an inbound approach, letting customers know about business and product enabling effective marketing, increased sales and revenue.
It also eliminates huge costs of traditional marketing and makes cost-effective distribution as major costs are eliminated.
10. Customer Reviews and Analysis-
Having an online presence and digital medium of communication enables businesses to get customer reviews and establish a two - way communication between business and its customers.
Potential customers and prospects usually check for reviews on the internet before buying the product, digital marketing increases such reviews making it easier for customers to make decisions and ultimately affect sales and revenue of business.
Fayda Shop is a customer acquisition-retention and marketing application, which is creating a blockchain based ecosystem for local and small business.
Local and small businesses equally need the benefits of online presence and digital marketing but having these facilities comes with many constraints such as lack of knowledge, budget and scale.
Fayda Shop lists businesses on its platform providing online presence, digital space and marketing for local and small businesses. Giving them larger scale, scope and reach at affordable and economic prices.
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