Digital marketing is one of the prominent sectors these days and has shown great stability in even hard COVID times. Its growing relevancy and cost-effectiveness have attracted thousands of businesses to leave the traditional brick and mortar approach and create their websites to attract and retain customers. Brief research on this sector can bring some pretty good reasons why this industry is at boom these days.
With highly advanced targeting options and refined features to study the user behaviors, it had made it very easy to differentiate between the productive and unproductive marketing efforts we make using it. These days there are multiple digital marketing channels available for businesses to reach their target customers without wasting the marketing budgets on unnecessary activities.
As per studies made by top media publication houses around the globe more than 40% of the businesses had shifted their marketing efforts entirely on the digital marketing platforms and these numbers are going to reach 90% till the end of this decade. Many valid points support this approach.
Why Businesses are choosing digital marketing over traditional approaches?
As per recent studies, more than 60% of the world population is using the internet in one way or another. The surprising fact is that this number was around 40% in the past year, so you can well imagine the speed at which the internet users are increasing. The following benefits force most brands, companies, and small businesses to rely upon digital marketing:-
Enhanced targeting options – Most of the digital marketing platforms such as Google Ads, Facebook Ads, and media buying platforms provide the option to do enhance targeting for the potential users. You can filter the target users as per their interests, behavior, and budgets to make sure that marketing efforts are headed in a positive direction.
Cost-effectiveness – Most of the entrepreneurs who had adopted digital marketing to funnel their growth has found that it is more cost-effective than traditional marketing efforts. You are not required to spend money on field marketing and infrastructure for it. The average cost of leads that businesses get using digital marketing is very low when compared o field marketing techniques.
Options to Optimise – One of the most important features of online marketing is that you do not need to wait for long to get the reports of the outcome of your marketing efforts. You are not required to do surveys or one-to-one meetings with users o know whether your marketing actions are going on the right track or not. You can generate instant reports on digital marketing platforms.
Ease of application – It is very easy to use most digital marketing platforms. You will be assisted by the AI integration on popular platforms to make sure that your marketing efforts have a great outcome. It is very easy to set campaigns and keep watch on their daily performance to make appropriate changes in them.
Future scope for the digital marketing industry
Scope for B2B Businesses – Many people live in a dilemma that internet marketing is not effective for B2B business. They may be missing the fact that more than half of the world’s total business is routing themself on digital platforms. Focusing again on the fact that the total business to mark their online presence will reach more than 90% by the end of this decade so you can well imagine how easy it will make for B2B business to get more leads in the coming future.
Scope for B2C Businesses – The similar thing applies to the B2C businesses also. Mentioning again the fact that more than 60% of the total world population is using the internet these days and this stat will rise to more than 90% within few years. Considering it you can well imagine the scope of internet marketing for B2C businesses. It is going to be super easy to get more relevant leads in no time by using this approach.
Innovative Platforms – We are living in an age where technology is changing day by day. The key to successful digital marketing campaigns is to keep in touch with the changing elements of digital marketing. You can expect to see the rise of media buying and social platforms over the next few years to target the users in a more precise manner. These platforms enable you to do advanced targeting for potential users and get better conversions on leads.
The surge in the number of Millennial internet users – Over the past two years, there is a huge surge in the number of millennial users over the internet. People are actively creating social media accounts, personal blogs, social groups, and forums which increases the scope of digital marketing to multiple folds. As this number is increasing so the number of potential customers for your business is also increasing with it. Millennial users are mostly the decision-makers and are the best user group to target for the purchase of products and services.
A lifeline to new Businesses – To set up a new business can be very challenging due to the highly competitive scenario we live in. Digital marketing can act as a lifeline for new businesses by proving them more specific approach to increase their brand awareness and leads for potential customers. It will be a great decision to apply internet marketing efforts rather than focusing on old school marketing approach to get fast results.
An impeccable Career Choice – Well we often talk about the businesses more and forget to mention the scopes for the individuals. As an individual, you can choose online marketing as a career choice as this field promises huge potential for it. Tremendous opportunities are waiting for you to get a successful career as a digital marketer and this is going to remain for many years to come.
We hope that our article will be successful to give you a clear idea of the future scope of digital marketing and you will also try to apply the latest online marketing practices to your marketing strategies to grab the most from your limited marketing budgets.