The Digital Marketing Divide in 2023
It is usual for clients to lack digital understanding, awareness, and perception of the value of online platforms. This is often due to various factors, including a lack of exposure to digital technologies, interest or understanding of how they can be used effectively, and a lack of resources to invest in digital marketing.
There is often a gap between how younger generations, who are more comfortable with and familiar with digital technologies, view the internet and social media and how older generations, who may not have grown up with these technologies, consider them. This can lead to misunderstandings and frustrations on both sides.
However, businesses need to recognize the value of online platforms and invest in digital marketing efforts to succeed in today’s digital landscape. The internet and social media have become integral parts of how businesses operate and reach their customers, and ignoring these channels can limit a business’s potential for growth and success.
Suppose clients lack the digital understanding and awareness they need to make informed decisions about their marketing efforts. In that case, digital marketing professionals must be patient and educate them about the value and potential of online platforms. It may be helpful for digital marketing professionals to provide clear and concise explanations of the services they offer and examples of how they have helped other businesses achieve success through digital marketing. It is also important for digital marketing professionals to be open to answering questions and concerns that clients may have and to be willing to work with clients to find solutions that meet their needs and goals.
There are several problems that businesses may face if they do not embrace digital technologies:
- Limited reach: Businesses that do not have a solid online presence may have a limited reach and struggle to attract new customers. In today’s digital age, many consumers use the internet to search for products and services, and businesses that do not have a website or social media presence may be overlooked.
- Difficulty competing: Businesses that do not utilize digital marketing techniques may struggle to keep up with their competitors, who may use these technologies to reach and engage with their customers.
- Missing out on valuable data: Digital technologies provide businesses with valuable data about their customers and their behaviour, which can be used to inform marketing and business decisions. Businesses that do not embrace digital technologies may miss out on this valuable information.
- Difficulty adapting to change: The digital landscape is constantly evolving, and businesses that do not embrace digital technologies may struggle to adapt to changes in the market. This can lead to a lack of competitiveness and potentially even the failure of the business.
Businesses need to embrace digital technologies if they want to succeed in today’s market. While there may be initial challenges associated with adopting new technologies, the long-term benefits of digital marketing can be significant.
How does digital marketing add value to my business?
There are many ways in which digital marketing can add value to a business. Some of the main benefits of digital marketing include the following:
- Reaching a wider audience: Digital marketing allows businesses to reach a global audience rather than being limited to a specific geographic location. This can help businesses to expand their customer base and increase their revenue.
- Targeting specific audiences: Digital marketing allows businesses to target specific groups of people based on factors such as demographics, interests, and behaviours. This can help companies to reach their ideal customers and generate more leads and sales.
- Measuring results: Digital marketing campaigns can be easily tracked and measured, which allows businesses to see the results of their efforts in real time. This can help businesses to optimize their campaigns and improve their return on investment.
- Building brand awareness: Digital marketing can help businesses to build brand awareness and establish themselves as leaders in their industry. By creating a robust online presence and engaging with their customers through social media and other channels, businesses can build trust and credibility with their target audience.
What budget should a business allocate for digital marketing?
There is no one-size-fits-all answer to the question of how much a business should allocate to digital marketing. The budget for a digital marketing campaign will depend on a variety of factors, including the size of the business, the industry it operates in, the goals of the campaign, and the resources available.
In general, it is recommended that businesses allocate a significant portion of their marketing budget to digital marketing efforts. According to research by Gartner, businesses are expected to spend approximately 43% of their marketing budget on digital marketing in 2021.
Some factors to consider when determining a budget for digital marketing include the following:
- The size of the business: Larger businesses may have more resources to allocate to digital marketing efforts, while smaller businesses may need to be more selective in their spending.
- The industry: Some industries may require more investment in digital marketing than others. For example, a business in a highly competitive sector may need to allocate a larger budget to stand out from its competitors.
- The goals of the campaign: The budget for a digital marketing campaign should be based on the specific goals of the campaign. For example, a business looking to drive website traffic and generate leads may allocate more of its budget to search engine optimization (SEO) and pay-per-click (PPC) advertising, while a business looking to build brand awareness may allocate more of its budget to social media marketing.
Overall, it is essential for businesses to allocate a budget that is appropriate for their specific needs and goals and to track the results of their digital marketing efforts to ensure that they are getting a good return on their investment.
How can you measure the return on investment from digital marketing
There are a few key metrics that businesses can use to measure the return on investment (ROI) of their digital marketing efforts:
- Conversion rate: This is the percentage of website visitors who complete a desired action, such as making a purchase or filling out a form. A high conversion rate can indicate that a digital marketing campaign is effective in driving sales or leads.
- Cost per acquisition (CPA): This is the amount of money spent on a digital marketing campaign divided by the number of new customers acquired through that campaign. A lower CPA can indicate a higher ROI.
- Return on ad spend (ROAS): This is the revenue generated from a digital marketing campaign divided by the amount spent on that campaign. A high ROAS can indicate a strong ROI.
- Traffic and engagement: Businesses can also measure the success of their digital marketing efforts by tracking the number of visitors to their website and the level of engagement on their social media channels. Higher traffic and engagement indicate that a campaign is effective in reaching and engaging its target audience.
To measure these metrics, businesses can use tools such as Google Analytics, social media analytics platforms, and marketing automation software. It is vital to track and measure the results of digital marketing campaigns on a regular basis to understand what is working and what may need to be adjusted to improve ROI.
Digital marketing can be a powerful tool for businesses of all sizes to reach their target audience, generate leads, and drive sales. If you are a digital marketing professional, it is crucial to educate your clients about the value and potential of these efforts and to work with them to develop strategies that will help their business succeed in the digital world.