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Increase your digital marketing budget to yield greater results
When it comes to your company's marketing budget, you're likely vigilant about how you allocate funds. Not only do you want create effective advertisements, but you also want to make sure you're distributing them in the most targeted ways.
According to a recent ProOpinion Survey, most marketing professionals aren't paying close to attention to updating their budgets, however. About 64 percent of respondents revealed they had no plans to increase their spending on digital, direct, affiliate and search marketing, while 31 percent stated they did not know whether they should expand their financial plans in these areas or not. Among professionals increasing their budgets, 8 percent were choosing to focus on affiliate marketing, while 10 percent were looking at allocating more funds to search marketing. About 11 percent were planning to expand their direct marketing budgets, while 13 percent were looking to invest in the modernized leader of industry trends, digital marketing.
What is digital marketing?
According to Smedio, digital marketing is any type of advertising that reaches consumers via electronic devices like phones, tablets or computers. Notably, more "traditional" types of marketing, including television and radio commercials, billboards and print ads, are excluded from the definition, which is largely based on Internet-related platforms. The source explained that digital marketing is more than simply applying standard advertisement practices to websites, however, but about redefining marketing in an age where everyone's constantly connected.
Smedio explained that there are two major differences between traditional marketing and digital marketing. Digital marketing opens up the opportunity for communication between the consumer and the company. For example, organizations posting ads to social media sites will inevitably be met with responses from Internet users. Traditional channels are wholly one-sided - they're meant to be seen but not commented on or responded to in any public manner. Additionally, digital marketing is fast-paced and can be delivered to potential customers instantly. Traditional methods rely on consumer attention in order to be seen, and might not be experienced in the same time-appropriate manner as digital ads.
Why is digital marketing important?
It's the ways in which digital marketing distinguishes itself from traditional marketing that make it an essential component of a modern and effective consumer outreach strategy. Because technology is ubiquitous in today's world, marketers need to make sure their brands are easily accessible through common digital channels. According to The Hub, 89 percent of consumers head to Google before making any major purchasing decisions, indicating a trust and reliance on Internet sources that your organization can benefit from.
Digital marketing is also effective because of its ability to be monitored and measured, explained the source. By examining analytics, data and "clicks," businesses can clearly see what's working and what's not, helping to save time and money that might otherwise be invested in a failing campaign. Your organization can also reach more people with less effort by favoring digital marketing techniques over traditional practices. Social media posts, emails and targeted Internet ads are simple to create, easy to distribute and are inherently seen by large numbers of technology users.
"Digital marketing lets you gain access to consumer behaviors."
Econtent magazine pointed out that digital marketing also allows companies to gain access to consumer behaviors, an element of marketing that was largely guesswork before the Internet. By observing how your target audience communicates, interacts and gets information, your organization can more effectively craft personalized, specific marketing offers that are bound to gain attention. The source also noted that digital marketing is important simply because that's where customer demand is - people expect to be marketed to online, and neglecting to engage consumers via this medium could render your business practically invisible.
"Greater digital marketing budgets are necessary to ensure consistency across channels and to provide an online experience that is tailored to the individual," Steve Earl, senior director of product marketing for Webtrends, told Econtent magazine.
Email remains a pillar of digital strategy
While it's important to be creative when developing and implementing your tech-based outreach strategy, Direct Marketing News noted that engaging consumers via email should be a top priority for all marketers. The source explained that despite the platform's increasingly obvious drift away from being used as a form of interpersonal communication, it's still a top-rated way to reach people from professional and promotional perspectives.
Direct Marketing News revealed that from 10,000 sent emails, entertainment business received just 109 complaints. Financial firms, travel companies and retailers got just 84, 70 and 63 grievances, respectively. The source pointed to a Listrak study where 82 percent of people said they'd be open to receiving more marketing offers as long as they were relevant to their needs, while 77 percent indicated they'd make more purchases if they received personalized emails. About 69 percent of respondents noted that they'd readily share more personal information with businesses if they issued this type of individualized marketing experience.
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