You used to expect a new business to brand themselves with a billboard, or hear the release of a new phone on TV, but now, with people cord-cutting or moving online, the changing face of the game has led to digital marketing is the big move for advertising. This move is a joyous change of scenery for some and a stubborn reminder to others that the marketing game is evolving whether they like it or not.
Advertising and marketing online through digital avenues are also helping companies and brands find better ways to increase their revenue through various means. It’s not a surprise to say that with the versatility of digital marketing, that it’s becoming a much more diversified arena. Here is how digital marketing can increase revenue, potentially for you as well.
Professional Services Are Cheaper Compared to Traditional Marketing
If you’ve ever watched Mad Men, you’ll understand why the days of the marketing agency are stuck in the past. The cost of hiring one of these agencies is not worth the reward when people can outsource their work to digitally-focused groups. If you look at how SEO marketing is done at tailoredseo.com.au, you can see how much cheaper it is for digital professionals to give you the help you need. They’re not only cheaper, but they’re more tapped into the world of online advertising which is a big plus over stagnant traditional marketing teams.
Training a Marketing Team In-House is Easier
Even if you’re a business that isn’t quite ready to make the leap to outsourcing or if you prefer to build your ecosystem inwards, training an in-house team is significantly easier now. With all of the courses and resources, as well as individual research, employees can become a more self-sufficient group of marketers without having to hire outwards. Building a team in-house also helps create the division of labor needed to succeed for a modern business, online or not. This helps build profit by keeping the budget flowing around your business to focus on things like product development and investing in your own company.
Plenty of Free Options or Alternatives Available
Not to mention, digital marketing is cheaper on an overall scale. Free options and alternatives are kind of misleading, however, but it’s important to make the distinction that posting Facebook ads are significantly cheaper than paying for a billboard in a busy urban area. Even then, SEO can be considered free if you learn enough on your own, or your in-house team can utilize it in such a way that you aren’t spending much to accomplish your marketing goals. Being able to keep budget expenditures low helps widen the gap between your margins of profit on revenue.
Allows You to Focus on Other Tasks
Digital marketing isn’t easy, but it’s definitely not as hard as trying to focus on traditional marketing tactics. Using this approach, you have much more time you can dedicate to other tasks and functions of the business. Things like meetings, research, hiring process, etc. are all parts of your time costs that need to be accounted for that you lose out on when you’re focused on dealing with people over the phone, which is much faster when you can do it online. If it’s building a team in-house or outsourcing your work, it’s a lot quicker to build a marketing campaign this way which frees up time, arguably the most valuable asset your business has.
Farther Reach for Audiences
If you can imagine the image of a billboard in Los Angeles being visible in Berlin, you’d be picturing an idealistic way to use traditional marketing. The limit of the physical space for marketing in these ways really holds it back compared to digital marketing. It’s ironic too, because someone posting a photo of that billboard in L.A. on their social media account, and a Berliner seeing it would constitute digital marketing. The whole point of this hypothetical is to highlight the basic fact that having a farther reach for audiences helps bring in potentially more traffic. Something that doesn’t need much explaining in the context of generating more revenue.
Easier to Collect Data to Analyze Strengths and Weaknesses
The last advantage that digital marketing posses are the ability to easily collect data and analyze it. This allows for a business, or their marketing service, to analyze the strengths and weaknesses of their ads and their marketing campaigns. What this means for your business in terms of revenue is being able to pinpoint who is viewing the material, who’s engaging with it, and where you can scale back and refocus your budget and efforts. This leads to a more accurate marketing effort online that is geared towards areas that will have a higher yield in terms of sales and help reorient your budget accordingly.
Digital marketing is the future and there’s no way to argue against it. Unfortunately, some people still feel it’s not as effective, but these reasons for how it can increase your revenue go to show that it truly is the most impactful way to do it.