The Top Benefits of Digital Marketing for Business Growth

 

Digital marketing for business growth is an umbrella term for strategies that use online marketing to grow your business. People are spending more time on digital devices than ever before, so businesses have to be present as well. If you’re not using digital marketing strategies to grow your business and reach new customers, you're missing out on a major opportunity. In this blog post, Digital Marketing Consultant Ferhan Patel explains why digital marketing is so important for business growth and detailed examples of how it works in practice.

 

What is digital marketing?

Digital marketing is any strategy that uses digital channels (e.g. email, websites, social media, and mobile apps) to reach and interact with potential customers. Digital marketing channels enable companies to build and maintain a relationship with customers through a variety of channels. The strategy behind which channels a business uses is called the “marketing mix.” This is the recipe for a successful digital marketing plan with the right blend of resources and strategies.

 

Why is digital marketing important for business growth?

Digital marketing has grown leaps and bounds in recent years. In the last few years, nearly two-thirds of marketers used at least one digital marketing channel, and more than half used more than five channels. That’s why it’s important to understand the benefits that come with digital marketing so you can make informed decisions on the best channels to use. Here, Canadian entrepreneur Ferhan Patel shares some of the most important benefits of digital marketing for your business:

- Recruits New Customers - New customers are your most important asset. They are the ones who are going to buy your products and services and are also the ones who can drive your revenue. In order to attract and retain new customers, your marketing strategy needs to go beyond just providing information about your company—it needs to engage users. That’s where digital marketing comes in. It helps you attract new customers by offering them quality content, interesting products, and functional services that help solve their problems or fulfill their needs.

 - Increases Revenue - Companies with a strong digital marketing strategy see an average revenue increase of 12.5% compared to companies with a weak digital strategy. That’s because digital marketing enables you to connect with your audience in new ways and find new ways to expand your business. It also lets you build a relationship with your customers—offering them excellent customer service, solving their problems, and giving them useful information—which helps strengthen their loyalty to your brand.

- Engages and Inspires Your Team - Successful digital marketing requires an investment of both time and resources. It’s hard to manage, monitor, and optimize all channels at the same time, so it’s important to collaborate with your team members and determine who needs to be assigned to which channels. Having a strong digital marketing strategy will help everyone on your team understand their role and feel a sense of purpose, which can lead to increased productivity and morale.

 

The 3 benefits of digital marketing for your business

Now that Ferhan Patel covered the why and how of digital marketing, let’s take a look at the top benefits of using a digital marketing strategy for your business:

 - Better Connects with Customers - With a digital marketing strategy, you can connect with your audience in new, more effective ways. With email, you can offer customers a more personalized experience by allowing them to reply to your emails and get updates when you publish new content. Online ads give your business the opportunity to be found in relevant places where your target audience is likely to see them. - Maximizes ROI with Measurement

- Digital marketing tools help you measure the impact of your strategy. This can help you determine the return on investment (ROI) of your efforts by analyzing data such as click-through rates, time spent on page, and even the path your visitors take on their way to buying something in your store. - Builds Relationships with Customers

- Digital marketing helps you form relationships with your customers by providing high-quality content, solving their problems, and providing useful information. This can create an emotional connection with your audience that can be difficult to achieve with other marketing channels.

 

How Digital Marketing Drives Growth in Business

Since digital marketing enables you to build relationships with your customers and engage them in new ways, it can be a powerful tool for driving business growth. Below, Product Strategist Ferhan Patel takes a closer look at how digital marketing can help you grow your business by driving more revenue and acquiring new customers.

- Drives More Revenue - One of the most common ways that companies use digital marketing for business growth is by increasing the amount people spend. With this strategy, businesses use emails, online ads, and other digital channels to direct customers to purchase products from their site or app. In order to do this, companies need to understand their customers’ needs and provide them with solutions that meet those needs. That’s where digital marketing comes in.

 - Acquires New Customers - Another powerful benefit of digital marketing is the ability to acquire new customers through word-of-mouth marketing. This can happen when you interact with your existing customers in new ways, like with a valuable digital offer or a sense of empowerment through a customer support program.

 

Conclusion

Digital marketing is an important part of any business strategy, but it’s especially important for B2B companies. Digital channels can help you build a relationship with customers and drive revenue through sales, while also enabling peer-to-peer marketing and expanding your brand’s presence. This can have a huge impact on your business, so it’s important to make sure you’re doing it right.