With digitalisation upon us, businesses are adapting their marketing presence online, digitally transforming to stay ahead of competitors and in front of customers.
Traditional marketing efforts alone are not enough, companies must focus their efforts online to reach their audience. But what is digital marketing? What are the benefits of digital marketing for any company? And how much do digital marketers charge? This will be explained, but first, it’s essential to understand the basics of digital marketing.
The digital marketing definition is essentially using the internet, search engines, and social media platforms to target, reach, and convert large audiences into new customers. Some digital marketing experts refer to digital marketing as a new era. Where a new skill set is needed to understand, reach and adapt to customer behaviour digitally.
In comparison to traditional marketing efforts like billboards or magazine advertisements, where communication is one-way and the audience interaction is unknown. Digital marketing allows for two-way communication between businesses and potential customers, allowing marketers to understand audience engagement. Data analytics in digital marketing provides actionable insights to improve the performance of audience engagement and increased revenues.
Digital marketing is an umbrella term for many different digital marketing channels, each with a unique approach to positioning a brand in front of potential customers. There is no one specific formula that works for all businesses, every business is different and will need to take a unique approach to its digital marketing strategy. Below are some of the most common methods of digital marketing;
Search Engine Optimisation (SEO) - SEO organically increases the quality and quantity of website traffic from search engines such a Google or Bing. Read more about what is SEO the fundamentals explained.
Pay-Per-Click (PPC) - PPC, pays for advertisements on common search engines (Google or Bing) to increase brand visibility. Businesses are only charged when someone clicks on their advertisement. Still unsure what Is PPC? Discover the Basics of PPC Marketing.
Paid Social - The use of paid advertisement on social media channels (Instagram, Twitter, LinkedIn) to promote a product or service. Read more about Paid Social, to find out if Paid Social media is a valuable investment for you.
Email Marketing - Email marketing allows a business to send promotional emails to their customer database or prospective customers.
Content Marketing - Content marketing refers to the use of publication and distribution of text, video, photos and audio to an online audience. Blogs, Youtube videos and podcasts are commonly used by businesses to Increase their presence online.
Website optimisation - A process of providing a website experience that provides for optimal user experience and increased conversion. Want to know more about website optimisations then read here.
In summary there are many digital marketing channels and methods a business could use. Often multiple approaches are tested by businesses throughout their digital marketing strategy in order to find out what performs best.
The Benefits of Digital Marketing are untapped by most companies today, unknowing the potential reach and revenues gains with digital marketing. Digital marketing reaches potential customers on an everyday basis, when active on social media, reading an online article or watching a video. When a potential customer is exposed to marketing regularly and in a natural manner it has many business benefits;
Reach - Digital marketing is not constricted to a specific geographical area, the internet allows for a global reach. Business can easily reach potential customers on the opposite side of the globe.
Low Entry Cost - Unlike traditional marketing, the cost to launch a campaign and reach customers over the other side of the globe would be exceptionally high in comparison to digital marketing. For example, a small business can launch a website, manage social media accounts and publish blogs with a relatively small budget.
Measurable RIO - To get the most out of any marketing efforts, return on investment (ROI) must be evaluated. This is difficult and sometimes nearly impossible with traditional marketing. On the other hand, digital marketing allows businesses to see real-time insights on effective performance. Businesses can therefore make data-driven decisions to increase sales and revenues.
Targeting accuracy - With digital marketing, businesses can target potential customers with specific behaviour and interests. This provides business with better accuracy to reach and engage with potential customers.
Adaptability - Digital marketing is very flexible and provides businesses with the opportunity to adapt and adjust their marketing efforts in real-time if needed. This kind of adaptability is ideal for business in rapidly changing industries or volatile markets.
Immediate Connection - Today's customers will often do online research before making a purchase, evaluating a product/service and its reviews beforehand. Businesses can make immediate connections with these potential customers using SEO, SEM and PPC methods.
Relationship Building - With social media playing a big role in today's society, customers want to interact where they feel most comfortable. A business using social media marketing (SMM) as a method to engage with potential customers can build strong long-term and loyal relationships with potential customers.
The answer to how much dose digital marketers cost? Can not be answered by one cost first all scenario. Digital marketing has many different methods and strategies, so every business must have a bespoke strategy to fit businesses individually. A different digital marketing strategy would be needed for a small business as compared to a larger business.
To get a better understanding it’s best to break digital marketing down into levels of business, a larger company will spend a lot more than a smaller company. For example;
Basic Digital Marketing - In general, small and startup businesses don't have an extensive budget for digital marketing. So lower cost methods are feasible, such as leveraging websites, blogs and social media management to increase sales and revenue. The cost for basic digital marketing services can start at several hundred dollars per month.
Intermediate Digital Marketing - Medium-sized companies will have more concrete avenues of revenue and therefore be able to spend more on digital marketing services. More advanced services such as SEO, SEM and PPC will become common. Intermediate digital marketing services can cost several thousand dollars per month.
Advanced Digital Marketing - Large businesses or enterprises will execute digital marketing services on a global level. With a wide development strategy, they often use all digital marketing channels. These types of businesses will allocate larger budgets and resources to develop their digital marketing strategy. Advanced digital marketing services can be tens of thousands of dollars per month.
The cost of digital marketing services depends on business size and goals as seen above. Smaller businesses will start with basic digital marketing services and advance over time, there are limitless possibilities and strategies. Overall, digital marketing is ideal for all businesses, strategies customised to meet the needs of different goals and budgets.
If you are looking for digital marketing services for your business, our team of digital marketing experts are happy to help get you started. Contact us to set up an introduction call, where we are able to better understand your business needs.