You may reach 18 times (36,000) more individuals via digital marketing with the same amount of money spent on direct mail (physical letters) to your audience.
Commercials in newspapers and magazines can cost thousands of dollars, and advertisements on television and radio can quickly deplete a company’s marketing budget.
One of the reason that is cost-effective because digital marketing allows you to collect valuable data from your visitors. With that, you can use it for retargeting. With retargeting, your adverts will appear in front of people who want to work with or buy from you. It can even be utilised on customers who have already paid for your goods or service.
The advertisements serve as a reminder or introduction to your worth. You can collect conversion statistics and use it to fine-tune future campaigns. Another argument for its affordability is that you can use free resources to promote your company. For example, using free sites like Canva, you may produce a series of informative posts linked to your business and campaign and publish them on social media.
Gain high credibility and trust
You will receive more testimonials and client reviews if you continue to give high-quality items and services. Because digital marketing allows you to share feedback on your social media sites, you’ll likely attract more attention.
You will get more trust from more people if more people read great customer evaluations on your website or hear about your business from their friends.
Enhance Brand Equity
The commercial value acquired from how people perceive and feel about a brand, as well as how successfully a brand commands market shares and profit within its industry, is referred to as brand equity.
Consumers will choose your brand over your competitors if you have a stronger brand equity. You’ll be able to improve your price structure as a result. To promote your new products and services, you’re also spending less on paid advertising and public relations.
Accurately Measure All Results
Marketers can use analytic tools to follow every step a customer takes with digital marketing. The information can then be included into a buyer’s journey, allowing you to determine which marketing plan is most effective for your funnel.
Assume you’re planning a social media campaign. The purpose is to raise awareness about a new product introduction. You’ve chosen to use your social media accounts to share a series of promotional stories. You can find out which posts generate the most conversions by using social media analytics tools like Sprout Social or Later.
You can tell which strategies work and which don’t by looking at essential metrics like ROI, Cost per click (CPC), Customer Acquisition Cost (CAC), and Customer Lifetime Value (CLTV). You’ll be more likely to target the proper audience if you can collect precise data.