With new technology constantly being innovated upon, both smaller and medium-sized businesses are making an effort to sustain pace with the dynamic marketplace. The same can be said about consumers, businesses, and society as a whole. You have traditional brick-and-mortar businesses changing to the online landscape and you have all businesses looking to penetrate the growing online segment of the marketplace.
The ultimate difference between a modern successful business and one that fails is the ability to adapt to the changes and attract the right market. Even if you are someone who receives a lot of traffic to your website daily, it’s not going to matter unless you can convert them into leads or customers for your business. Nowadays, in the digital market, every business needs access to the right digital tools and strategies to get the best possible shot at competing or even surviving the increasingly competitive landscape.
Below, you will learn about some of the most significant reasons you should be using Hampshire marketing companies as not only an investment for your business but also as a means to minimise costs and help you scale your business to new heights.
1. Digital Marketing Is Something That Helps To Level The Playing Field
You can no longer treat digital marketing as a luxury. Likewise, it can no longer be assumed that only larger companies can compete in the sector. Nowadays, even the smallest businesses with limited budgets can integrate digital marketing into their marketing efforts. It does not take a significant amount of resources to integrate a digital marketing campaign into your business. It can help to level the playing field and it can offer you the best possible chance at competing with some of the heavy-hitters in the industry that would normally be out of reach.
Digital marketing is something that grants smaller businesses the resources to ramp up sales and marketing efforts that were previously relegated to only larger companies. You can even engage effectively across a variety of channels with customers from all over the globe without investing in a costly call centre. The same holds even if you don’t have access to a brick and mortar store in that location.
2. Digital Marketing Is Much More Cost Effective Than Traditional Marketing
The fact is, small businesses don’t have the resources nor the capitalisation that larger businesses do. Because of this, they need to find ways to compete. Digital marketing is something that grants them the ability to compete with a much more cost-effective marketing strategy that is capable of delivering similar results. Gartner’s Digital Marketing Spend Report noted that a large percentage (40%) of respondents claimed they received a significant amount of savings by utilising the digital marketing strategies for marketing their products and services as compared to traditional methods.
As much as 28% of business owners surveyed noted they plan on shifting their marketing spend from traditional channels to digital channels because of this. HubSpot shows that digital marketers can get much better lead costs compared to some of the more traditional channels.
3. Digital Marketing Delivers On The Conversion Front
As a business, you will base your success by looking at the total number of conversions you can make. This includes traffic you can convert into leads, subscribers, or even sales for your business. Without the ability to convert, your traffic wouldn’t necessarily mean anything. Because of this, as a business owner, it is wise to streamline the majority of your efforts towards optimising the conversion rate of your website. This is why a lot of owners are making it a top priority for their business.
4. Digital Marketing Improves Revenues
Having higher conversion rates generated by increasingly effective digital marketing techniques leads to higher profitability for your business. After all, it leads to increased revenues. If you look at a study conducted by IPSOS Hong Kong, you will see 2.8 times more revenue growth expectancy for companies that use digital marketing strategies over the companies that didn’t.