5 Benefits of Digital Marketing You Can Get for Startup Companies
Online presence, to be specific social media presence, is a pool of opportunities for startup companies. There are boundless benefits for new small businesses if they can establish their presence online. Here are 10 benefits of digital marketing you can get for startup companies.
Although having an on-site location sounds appealing, there are setbacks and limitations one can get from an on-site location. One of those limitations is the audience.
If a business is stuck on an on-site location only, it is only capable to cater to the customers in its region. Customers from other regions will need to go to the location to look for your product. Moreover, there is also a matter of space. A store has limited space, and if it’s too crowded, it will eventually drive customers and potential customers away.
However, once a brand establishes itself online, the limitations made by on-site locations are eliminated. Brands do not need to worry about space since social media allows the brand to interact endlessly with current and potential customers. The region limit is also gone since customers from other regions (and even countries) can purchase your product. By having an online presence and digital marketing, you will be able to reach more people and gain more benefits from it.
Better in-depth research
Although some might not believe it, digital marketing plays a significant role when it comes to in-depth research. Through digital marketing tools, we will get not only a wider audience but also an audience of our choice. Such a phenomenon is possible due to the advanced digital marketing tools that allow us to target specific markets (such as age, region, etc.). Doing so will allow us to see which audience works better for our brand, giving us more ways to experience while launching the products at the same time.
Besides giving us the benefit of finding the perfect audience, digital marketing tools allow us to test our campaigns through common A/B testing. There are also other features, such as campaign comparison, previews, and many more. All these from digital marketing tools – something we do not get if we do not venture into digital marketing.
Another benefit of digital marketing is the research on competitors. It is common for brands to use social media and websites nowadays. Rival’s social media accounts give us the chance to research them. We can see the campaigns they launch and see whether they are effective or not. We can also predict their audience based on the social media interaction (and a bit of snooping on their customers’ profiles).
There are other features we can get from digital marketing tools, but one thing is clear: all of the tools allow us to have a more thorough in-depth research. Whether the research is for the audience, for rivals, or testing, digital marketing allows us to get the best of each focus.
After doing the research, what will digital marketing do? The digital marketing team will then proceed on establishing the brand identity of the company.
The simplest example of brand identity is Nike. when we look at Nike, we will immediately remember the “swoosh” logo and the “Just do it!” slogan. Those two things are the images of Nike that are attached to people’s minds.
Nike’s logo and slogan are perfect examples of brand identity. Brand identity is images of the brand the audience always remembers. They are pivotal because most of the time, campaigns revolve around the message sent from the brand identity.
Brand identity is pivotal, therefore brands must give their best to promote it. This is where digital marketing comes into play. Using the targeted audience and thorough research was done before, digital marketing creates a campaign that matches with the research while keeping it in line with the brand identity’s message. Digital marketing becomes the bridge where the desired audience, the most strategic method, and the brand’s message all meet each other.
If you take a look at online campaigns brands all over the internet, sometimes give the impression of an expensive campaign. All the design, the captions, how can they not be expensive?
We have a surprise for you. According to Lyfe, cost per impression (CPM) is as low as $2.50 per view. It is way cheaper compared to television’s CPM, which ranges from $28 to $57 per view. The huge gap between the two platforms makes people prefer online impressions over television. It makes sense, considering social media gives a boundless amount of customers for an inexpensive price.
Of course, it does not mean that brands do not spend on digital marketing. They do spend money on digital marketing, but the money spent is not as much as advertising on television.
This leads to the fifth benefit of digital marketing, which is….
More return of investment
Yes, digital marketing does give more return on investment. Let us remember how inexpensive social media campaigns are. This means that we spend less on investment or allocate the budget to other matters. If we compare the budget spent on digital marketing to the return of investment, the brand would gain more if they use digital marketing. And if they do the digital marketing campaign right, the brand might receive return more than the amount they targeted.
Set your digital marketing now!
The five benefits are not the only benefits digital marketing offers. There are other benefits we can get from digital marketing, and those benefits can lead us to things that can help establish our brand. With the boundless audience and the tools digital marketing software provides us, it is not impossible to create a successful campaign beyond our expectations. Digital marketing is also inexpensive compared to television advertising. What can we ask more from them?
Seeing the opportunity digital marketing offers, small business startup companies should not be afraid to venture into the world of digital marketing. Create your digital marketing team now!