Digital Marketing- Why it is Indispensable for Startups
Digital marketing is the new lifeblood for startups in terms of scaling their businesses and helping them reach out to vast audiences online while building their brand presence simultaneously. Every startup should employ digital marketing techniques for reaching out better to their target audience.
Core Benefits of Digital Marketing for Startups
- Building Brand Awareness- Digital marketing helps in swiftly creating brand identities and more awareness amongst target audiences. People can easily learn about a brand in a few seconds online.
- ROI & Analytics- Startups can work out ROI (return on investment) for marketing and brand awareness campaigns via digital marketing while deciding on budgets for conversion rate optimization and eventual sales growth.
- Engagement- Startups can consistently engage with customers and maintain relationships with digital marketing techniques such as content marketing, social media marketing and email marketing among others. Prospects can be updated instantly about company news, events and other interesting aspects for keeping them engaged.
- Evolving customer roles- If done right, digital marketing helps in converting customers of a brand into loyal sources of advice and even evangelists who help scale up revenues by suggesting the product/service to other prospects.
How else can digital marketing benefit startups?
There are numerous ways in which digital marketing becomes a vital tool for startups across diverse business sectors. Here’s looking at some of them :-
- Customer Research- Digital marketing harnesses technologies for tracking and interpreting purchase behavior of targeted customers which helps in working out the products/services and demographics which are best suited for companies. This is a more affordable way to conduct customer research.
- Traffic- Digital marketing helps in driving traffic greatly to company sites and pages via social & content engagement activities including, SEO, PPC ad campaigns, videos, webinars, influencers campaigns, campaigns on Twitter and Facebook or Instagram and other posts.
- Metrics- Digital Marketing helps startups assess campaign performance via real-time metrics. This helps companies immediately work out the number of prospects who are engaging with them and they can thereafter personalize marketing pitches for demographics and areas.
- Better Control- unlike other marketing sources through digital marketing one can easily monitor & control advertising costs and campaigns reach or results and simultaneously optimize them to keep the spends in control with desired customer acquisition cost.
Digital Marketing Components that are vital for Startups
Startups should take into account several aspects related to digital marketing for successfully optimizing their campaigns and getting desired results. Here’s looking at some of them:
- The proper marketing approach has to be adopted. Some techniques include video marketing, building a compelling site for the brand, PPC campaigns, email marketing, social media marketing, search engine optimization (SEO) and more.
- Companies should also venture into optimization strategies for mobile devices since searches on mobile phones make up a large component of overall online searches.
- Emphasizing on SEO is a must since it is still counted as the most suitable method for ensuring higher rankings on search engines with relevant business searches & eventually help start ups in long run website traffic growth.
- Content creation is a vital part of any successful digital marketing campaign. Content marketing is one technique along with a variety of tools including influencers outreach, webinars, videos, infographics, memes, images, blogs, GIFs, articles and more.
- Venturing beyond PPC (pay per click) is a must in today’s scenario for digital marketing. Companies should realize that advertisements have limited impact now in engaging audiences and PPC should not be the sole lead/revenue generation source.
- Startups should also optimize rates of conversion in order to fully taste success with their digital marketing campaigns. Until and unless the site and page is optimized, posts on social media will bring traffic although conversions will still not take place. There should be proper calls to action (CTAs) along with subscription, form fill-up and other options.
- For startup its also crucial to deploy skillful team or agency that has in-depth knowledge & experience of the individual digital marketing channel.
Summing Up- How Digital Marketing helps Startups
In a nutshell, digital marketing goes a long way towards helping startups to enhance their overall visibility while also enhancing overall rates of conversion and lowering marketing budgets. It also helps in lead generation and enhancement of sales/revenues while also enabling greater brand awareness simultaneously. Digital marketing also helps in scaling up rates of online conversions while improving overall engagement of customers. Digital marketing can also impact purchase decisions of customers greatly while helping in tracking the ROI (return on investment).
In fact, several reports highlighted how 17% of overall startups could not succeed due to lack of suitable marketing strategies. Digital marketing should be a part of the business blueprint from inception itself. The biggest advantage for startups is that digital marketing requires a considerably lower budget/cost as compared to traditional advertising and marketing methods spanning print, radio, television and outdoor advertisements