Top 8 reasons why to invest in digital marketing | Complete Guide 2023
As a digital marketing specialist the biggest objection is when business owners ask why “invest in digital marketing”. In order to better answer this question, i have analysed all of our client data, to establish, from a financial perspective what i believe the top ten reasons to invest in digital are.
This article aims to provide a better understanding and insight for business owners into how online marketing can assist them in there efforts to identify, obtain, retain and recoup customers.
- 2023 Market Landscape
The market has changed dramatically in the last 10 years, the digital landscape has made even the largest corporation either adjust or become obsolete. House hold brands such as blockbuster video, woolworths and many more have been left bankrupt by either being unable or unwilling to adapt there business model to new status quo.
In order for a business to understand why to invest in digital marketing they first have to come to terms with the fact that previously viable business techniques have in the most part become unsustainable.
2. Audience location
The digital revolution has forever irreplaceably changed the way we consume information, content and research or commission services. Even if you one of the few who still buy locally or flip through the phone book to find a company, the unfortunate reality is, your the minority.
In 2022 , the number of recorded internet users by “statistica” was 4.9 billion, with the vast majority of them using the internet as a daily active tool. What this means is that the tides have changed and where as leaflet drops, cold calls and shop fronts may have drawn in perspective clients, the new commercial battlefield is online.
Whether you’re a sole trader or blue chip company , your audience is now online.
3. Get seen with SEO (search engine optimisation)
All search engines are essentially indexes, which file information based on keywords, they are displayed in an order which is determined by Goolges internal algorithm, This algorithm is not public knowledge and is down to agencies like ourselves to determine how to structure all elements of your online presence to appear for the terms that will provide the most commercial value.
SEO is not black magic, Google has two branches the service provider (Google search) and the commercial branch (Google ads). On the service side Googles only MO is to provide the best possible result for the keywords searched for. It determines whom is best using an array of factors, but ultimately it breaks down to analysing what people search for , in what areas they search from and proving quality, unique content to best answer there question or enquiry.
SEO is a subject matter that I could potentially spend hours even days explaining even the most basic facets of. If you would like to learn more about SEO agencies in Ireland click the link.
4. Return on investment
The main reason anyone should invest in anything in anything is return. Traditional marketing relies on man power and human interaction , whether your printing leaflets or making cold calls , it requires abled bodies.
This is not say a digital marketeur is not an expense but for the possible exposure your business can expect, its a massively reduced one.
For example a call centre with 10 agents , can make on average 200 calls per shift , per person. That is a total of 2000 untargetted interactions, you need to account for not only salary but tax, premises, internet , phone system and so on. One skilled digital marketer can quite literally put you infront of 10x the amount of people per day at less than 10% of the cost.
*(subject to industry, assumed staffing costs and average product interest, calculation based on figures from SEMrush in August 2023)
5. Reduced overhead
With interest rates rising and inflation on a steep up turn , every business in Ireland needs to ensure its reducing overhead wherever possible. Digital marketing is a primary avenue to cut costs, with traditional marketing strategies its very hard or impossible to track ROI, digital marketing is the polar opposite.
From a paid perspective Google/Bing ads console are the most advanced marketing tools in the world, by being able to track impressions, clicks and conversions you can definitively see what a client costs you to obtain.
You can then use your own business analysis to ascertain what your average lifetime value of a client is. By knowing these business fundamentals , you can understand what profit you retain on each and every client.
From an SEO Perspective its just as easy to quantify how much your spending and what income is generated.
6. Cost Effectiveness
Unlike traditional marketing methods which are costly and time consuming, digital marketing can provide almost instantaneous results and return on investment. These expedient client acquisition techniques can be supplemented by longer term strategies, such as optimsiing your site for search engines.
7. Increase Brand Equity
Brand equity is important for every business regardless of size, but brand equity can be particularly important for brands with high end commercial products. For example, a business offering business or development loans would rarely see an inbound enquiry just because of a paid ad. But when the person responsible for researching companies whom offer that service , you would want your brand to be front and centre.
8. Target specific Audience
One of the more recent additions to major marketing suites (meta, google, bing, etc) is audience targeting and segmenting, This relativelty new feature allows businesses to target individuals based on a variety of factors such as gender, age, job role even device type, By reviewing conversion data inside all of your marketing campaigns you can build a profile, this allows you to know what your ideal client looks like and target them with sniper precision.
Again by targeting the ideal client type, you reduce over head, marketing spend and increase conversion.
Digital Marketing Agency
At Bubblehub, we understand that every business is unique and requires a tailored approach to digital marketing. That's why we take the time to understand your business goals and create a customised digital marketing strategy that is tailored to your specific needs.
Our team of experts specialises in a variety of digital marketing services, including web design, search engine optimisation, pay-per-click marketing, and social media marketing. By utilising a combination of these services, we can help you maximise your online presence and drive more revenue for your business.
If you would like to know how digital marketing can elevate your business, contact one of our marketing specialists today.
