DIGITAL MARKETING: The what, how and when of the business revolution

An Article by Adebayo Anthony

Today’s time of the internet has opened the gateway to tremendous opportunities in the digital space. The speed and precision with which information is being transmitted from any part of the world is simply astonishing and some entrepreneurs have been able to identify these opportunities and turn them into profitable systems that not only enriches them but offers companies and individuals new ways to connect, collaborate, conduct business and build bridges between people.

The rise of the internet into a dominant force has meant a sudden boom in new fields of work and new jobs in the digital space. In this article, we will be focusing on just one- DIGITAL MARKETING.

Digital marketing on its own is a very broad field, so for that reason, this article will focus on answering three of some of the most asked questions relating to digital 

marketing.

Ø What is digital marketing all about?

Digital marketing can be understood as a targeted, conversion-oriented and interactive marketing of products or services by utilizing digital innovation to attract prospective customers and transform them into clients in sustainable fashion. Basically digital marketing is the use of the internet and other digital channels to reach customers.

Ever heard the witty saying “you got to meet people where they are”? Two decades ago or even more recently a decade ago, people still looked around for billboards, flyers or posters when they needed information pertaining to a particular brand. When was the last time you did that? I bet it’s been a while.

Why look for posters and flyers when you can search on google. There’s been a major shift over the last few years with regards to where customers can be found. You don’t find so many of them listening to radios, reading flyers or posters. You find them staring at their phones.

Think of it this way, google and Facebook generate more revenue than any traditional media company because they control more eyeballs. That’s why digital marketing matters, it is where the attention is. It doesn’t just place you in front of your customers, it makes it possible for them to find you as well. Digital marketing accomplishes targets of marketing a business through different digital channels such as; Search Engine Optimization (SEO), Social Media Marketing, Online paid advertising, Email marketing, mobile app marketing and web analytics.

These form the pillars of digital marketing and are very complex fields as well but when studied and used optimally can elevate any business. A detailed article will be published to highlight their roles and application in digital marketing.

Ø How has digital marketing changed business?

Over the past decades mobile and contactless payments have changed the playing field according the Digital Marketing Institute.

Soon the term digital marketing will come to be known as just marketing, because all marketing would be digital. As at 2019 there were 4.39 billion internet users, that’s approximately 58.5% of the world’s population. These figures have forced business across the globe to take their marketing campaigns online, because obviously that’s where their audience are, and it is evident that soon digital marketing will be a definitive factor in brand growth and sustainability.

Digital marketing has changed normal business operations as we know it in many ways, some of them as follows;

·       Equal opportunities for all kinds of business:

Digital marketing is the leveling platform, it offers and serves equal opportunities for any and every kind of business. It gives both small and medium business the opportunity to grow well and compete against the stable and established businesses so that they can get the opportunity to draw in their share of traffic present on the internet.

Brand awareness is important for both new businesses and established ones. Companies like Apple, Coca-Cola and Nike have brands that are recognized and can pull in a lot of traffic online. While digital marketing might not necessarily turn any new business into the next Apple, it won’t have a chance without it.

·       Cost effective:

In the old days of marketing, businesses depended on print ads, billboards, direct mail, radio spots and TV ads. While this might still work to an extent now, they are certainly not cheap.  But if you already have a website, marketing online can be as simple as tweaking the elements on your site to improve your chances of ranking well in search engines or doing SEO. Of course, it might require professional help if the business owner lacks such skills. But if you choose to invest in digital marketing, it will definitely be worth it because it has a higher ROI (Return On Investment) than any traditional method.

For one reason- Targeting. With digital marketing you can target your ads directly at customers who are already interested in looking for your products and services. So instead of paying to reach people who just throw away your print ads or change the TV station, you only reach people who are likely to become customers.

·       Generation of better revenue:

Digital marketing offers higher conversion rates resulting in up to 2.8 times better revenue growth for business with digital marketing strategies. The deal is simple; digital marketing plays a major role in increasing revenue, simply because it reduces the cost, thereby generating a healthy stream of income.

With digital tools like google analytics you can immediately check what works for your company online and reinforce such procedures for increased revenue going forward.

Other changes include; increased interaction with customers and solidified brand loyalty.

Ø When should startups integrate digital marketing into their business strategies:

NOW!!! That’s when any startup should start adopting digital marketing strategies. The internet is too accessible to consumers.

Everyone likes to get a good deal, so consumers conduct a research before they make a purchase.

If your customers can’t find you, your products or your services online while they are conducting research, they will find someone else. It’s that simple.

The last place you want to be is falling behind your competition. It’s a simple recipe for disaster and your company will struggle to survive.

Let’s say your competition is not using digital marketing and they don’t read this article. You’re lucky, but it’s only a matter of time before they can start.

Sometimes later becomes never! You still have the chance to grow that business if you haven’t started using digital marketing tools and if you lack funds for getting professional assistance, start by creating social media accounts for your business, post relevant contents relating to the goods or services you offer and take digital marketing courses in your spare time.

Finally, if you haven’t exactly started a business yet but you harbor thoughts of starting one, NOW is the best time to start. With more digital inventions popping everyday opportunities are endless.

So find a skill that fits you, learn, reflect, implement, share and monetize.

Most importantly, make yourself as digitally savvy as possible.