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Why Your Competitors are Embracing Digital Marketing

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It is important for businesses to realize that integrated digital marketing is not just a fad, but rather, an evolution in marketing. Sure, one-off ad campaigns still exist, but they are no longer the cornerstone of ROI that they once were, back in the days of Don Draper when newspaper and radio slots were all the rage. To succeed in today’s techonomy, businesses need to adopt sophisticated marketing strategies (via @SynecoreTech). But where does your company even start? Digital marketing can be overwhelming, and it’s changing every single day. But it’s also important to realize that if you don’t change, you’ll be left in the dust and your competitors will have the upper hand. In this post, we start to explore some of the benefits of digital marketing

The Benefits of Digital Marketing

What will digital marketing actually do for your business? CJG Digital Marketing put together these 10 Benefits of Digital Marketing for companies that are just getting started in the digital world:

1. Digital Marketing Connects You with Consumers on the Internet

2. Digital Marketing Generates Higher Conversion Rates

3. Digital Marketing Saves You Money

4. Digital Marketing Enables Real-Time Customer Service

5. Digital Marketing Connects You with the Mobile Consumer

6. Digital Marketing Helps Generate Higher Revenues

7. Digital Marketing Delivers Higher ROI from Your Campaigns

8. Digital Marketing Keeps You at Par with Competitors

9. Digital Marketing Can Help You Compete with Large Corporations

10. Digital Marketing Prepares You for the Internet of Things

As much as 72% of consumers are already connecting with brands through their various digital marketing channels and activities according to reports from Mashable. Most businesses are adapting digital marketing strategies – and those that don’t will likely be forced to in the short term or will be forced out of the space by their competitors.

Digital Marketing Budgets are Increasing:

It’s no secret that companies are spending more and more on digital marketing activities every year. But why? These digital channels prove to be an important way to connect with consumers, and consumers are demanding that companies meet them where they are: email, web, and social for starters. 

Marketers are investing in the customer experience to drive business advantage and profitable revenue growth, according to a survey of marketing executives by Gartner, Inc. The survey found that marketing budgets remained healthy in 2014, with, on average, companies spending 10.2 percent of their annual 2014 revenue on overall marketing activities, with 50 percent of companies planning an increase in 2015. Digital marketing spending averaged one-quarter of the marketing budget in 2014. The survey found that of the 51 percent of companies who plan to increase their digital marketing budget in 2015, the average increase will be 17 percent. (via @Gartner_Inc)

Just Getting Started?

When something works well in the world of big business, it’s usually just a matter of time before smaller companies start adopting the same strategy or some scaled-down version of it. With digital marketing, that process is already well underway. 

In a recent survey by Inc. Magazine, the publication asked participants “Which of the following tools/solutions does your firm currently use in its digital marketing strategy? Which are found to be the most effective?” (via @Inc)

Start Somehwere:

Just like anything else in life, digital marketing won’t be perfect the first time. It will take some time to learn what works for your business, how much budget you should carve out each year, and how to measure its success. But the key is to start somewhere – start small and grow bigger or time. Capture the success stories and learn from what doesn’t work.

 

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