The decision to make any small or medium-sized business operational or digital is confusing. With limited marketing budgets, it becomes difficult for every small and medium business to distinguish between traditional and digital. Finally, most businesses go with traditional marketing, as they face the unavailability of the right tools to measure ROI (Return on Investment) to go digital.
Choosing the right marketing mix is not an easy task. One has to answer a lot of questions like:
- Which channel will give me the best ROI?
- Should I do it myself or should I outsource it?
The answers to these questions are more confusing than the questions themselves.
Traditional marketing has its own advantages, and most business owners are aware of it. They have used it and they know what the consequences will be. Moving from traditional to digital is a huge task. This includes not only creating and checking campaigns in different ways. It is also about changing the whole mindset. People know that now the whole world is on mobile and they spend an average of 4 hours a day on it. Yet they remain on the billboards.
Expanding into a new geographical area with the help of traditional marketing seems a bit difficult and impossible, but digital marketing helps you expand into new areas without any geographical constraints. You can grow your business digitally in your favorite city. You can create any kind of relationship with your customers and audience. You can set your goals and campaigns at any time.
Small and medium-sized businesses do not have much money to spend on marketing. But the goal is to reach as many people as possible at a lower cost. You probably know a one-time TV commercial that lasts 30 seconds. The cost of which is up to Rs 3, 50,000 and this is also the cost of the advertisement shown in normal time during the day.
But a small business does not have that much money. While print advertising and billboards also cost a lot. On the other hand, digital advertising can reach a highly targeted audience at a low cost.
With digital, you can spend as much as you want, and you can be in complete control of your budget. Businesses that spend on digital marketing improve Cost Per Lead (C.P.L) compared to other marketing channels.
In addition to cost-effectiveness, this is the best advantage of digital marketing. You can really see which channel has given you the most sales, unlike traditional marketing. Traditional marketing sometimes resembles shooting in the dark. If you do not measure which channel is giving you the best ROI?
Digital marketing helps to measure every click and helps in identifying user behavior and buying patterns. It also helps to provide detailed information about your target audience. So you can create Super Targeted Ads. The data you can gather with the help of digital marketing is invaluable.
Digital marketing helps generate more revenue than traditional marketing channels. Small and medium-sized businesses using digital marketing techniques have a 3.3 times better chance of growing their workforce and business.
Super Targeted Audience:
If you want to target a 24-26-year-old woman who is interested in fashion jewelry, living in Mumbai, you can target her specifically. This is the beauty of digital marketing, you can definitely target your desired people.
Digital marketing helps your business use techniques and strategies that not only attract more traffic to your business. It also attracts standard traffic. I am not underestimating traditional marketing, but it is my opinion that every small and medium business should adopt a digital approach to their business because digitalization leads to more revenue and business growth.