Why Digital Marketing is Important for Entrepreneurs: As an entrepreneur, the most important goal you’ll be looking to achieve is growing and expanding your business.
In order to reach that target, you’ll need to employ the precise and excellent marketing techniques that digital marketing offers.
If you haven’t started making digital marketing a part of your business, then you could be seriously limiting your business’s growth potential.
The numbers do not lie. More and more people use the internet every day and so do your potential customer base.
If well utilized, digital marketing for entrepreneurs can be the goose that lays the golden egg for your business.
The Relevance of Digital Marketing For Entrepreneurs
The point of any commercial business is to make sales and in order to do that the business needs to gain exposure and be seen by an audience.
Digital marketing does this better due to the fact that it can position your business in front of the audience that needs your offer and the level of reach it has is near limitless.
In addition, you can leverage other forms of digital marketing like social media, search engines, and other digital mediums to reach your audience.
The cherry on the icing is that all of these can be done without breaking your piggy bank. That’s why digital marketing is highly relevant for entrepreneurs finding their feet in this turbulent world of business.
Why Digital Marketing Is Important for Digital Marketing
In this section, we will discuss some crucial reasons why digital marketing is important for entrepreneurs.
Brand Growth
It matters little how large your business is or its age, it still needs an online presence. Social media alone can help you achieve essential awareness about your business and what it offers.
In addition, social media platforms like Facebook, Twitter, Instagram, etc., are free. This means you don’t even need to own a website before your business can gain an online presence.
Also, according to a report by the global web index, 30% of the total time people spend online is on several social media platforms. And millennials constitute a large number of the people spending a lot more than that on these platforms.
Thus, digital marketing for entrepreneurs is imperative when it comes to setting up your brand. If your brand is not yet available on any of these social platforms, waste no time in signing up and creating profiles for your business immediately.
When effectively employed, social media can not only grow your business but also help foster a strong relationship with your customers.
Easily Reach Customers Faster
The average individual spends about two hours daily on social media while teenagers tend to spend much longer online (as much as nine hours daily).
They usually go to search engines and social media platforms whenever they have a query or particular pain point that needs to be treated. It could be purely for entertainment, shopping, studies, or more.
What this entails is that digital marketing, and in particular, social media can be a nice place to start for any entrepreneur looking to expand their brand.
The reason is that people are actively spending most of their time online and on social media especially.
When you ask people what their main reasons for being on social media are, you’ll discover that shopping will be among their top ten reasons.
Furthermore, search engines witness countless shopping queries. And since you have a pretty nice idea of where your potential customers are, you can tweak your marketing strategy accordingly as you’ll already know what factors will influence their purchasing decisions.
In a certain report, 37% of the time individuals spend on social platforms is spent browsing branded content.
Cheap and Cost-Effective
Before digital marketing became popular today, marketing was done via conventional media like TVs, radios, and print media.
And since the entire process usually required more people and tools to be involved, those marketing campaigns were always expensive and basically impossible for small business owners to utilize.
Fortunately, the emergence of digital marketing has made things a bit more pocket-friendly. Digital marketing is cheaper than conventional marketing thus, allowing almost anyone to make use of it in promoting their brand.
Also, it is highly cost-effective, especially with the help of research and analytics which allow you to conveniently pick out what’s working and what’s not working for you. Using this knowledge, you can modify your campaigns at any point in time.
When a digital marketing campaign is successful, the results can be incredible. It can send a relatively unknown business with barely a handful of customers per day into a commercial hotspot boasting a frenzy of activities and transactions within a matter of hours.
Effectively Reach your Target Audience
One of the most iconic features of digital marketing that sets it apart from traditional marketing is that it lets you narrow down your target audience.
This involves separating large demographics and focusing on the groups of people that are more inclined to need your products or services.
Entrepreneurs will find it a priceless tool to use in filtering their target audience. Digital marketing allows you to research the preferences and distastes of your target audience which gives you leverage when creating content for them.
Naturally, this boosts your chances of not only gaining visibility for your brand but also generating a connection that supersedes traditional advertising.
Using this connection, you’ll be in an intelligent position that allows you to influence their decision-making process without appearing as assertive or annoying – a common mistake that conventional marketing techniques continue to make by replaying ads repetitively without having any idea of how it affects the general audience.
Levels the Playing Field
What makes digital marketing so popular today is that it levels the playing field and allows even the smallest of businesses to have an advantage.
It hardly matters if you’re on a budget. You can still make use of the basic resources provided by digital marketing most of which are free.
They include social media, Google Analytics, and keyword research tool, etc. These resources will not cost you but can go a long way in setting up your business for profitability.
Basically, digital marketing allows you to compete with your competitors on a tight budget and even outperform them depending on how effective your digital strategy is.
Hyper-Personalization
In terms of personalization, digital marketing is crucial. For instance, in email marketing, which is a form of digital marketing, you’re able to target people on an individual level.
This process is referred to as segmentation, and in most cases, it basically means targeting people individually, which marketers choose to call personalization.
According to a report, 72% of consumers prefer emails for business communication as it lets them control whom they signup with while also having the option to unsubscribe whenever they want.
Some email applications allow you to store a user’s name and other specific information in an email. However, this is merely personalization on a basic level.
Hyper-personalization, on the other hand, is divided into three major parts – segmentation, automation, and personalization.
Segmentation refers to the collection of data on each subscriber. Automation allows you to schedule the time at which the email will be distributed to several recipients according to what appears to suit them the most. This means there is no repetitiveness.
Personalization works by pleasing the customer on a personal level by recommending products that are based on the customer’s purchase history.
In addition, since you’ll have a record of when they visited your website or business page and left without buying anything, you can send a follow-up email addressing them by their name to make them feel treasured.
Insights & Analytics
Digital marketing gives you the opportunity to see how your ad is performing. Through insights and analytics, you’ll be able to see your users’ interaction with your ad campaign and tell whether they viewed it or liked it.
You’ll also be able to see how much time was spent on the ad, those who took certain actions such as sharing it with a friend.
Insights and analytics basically lets you see the users who show the most interest in your ads. You’ll get to know what these people are like and what nudges them into making a purchase or taking an action.
What’s more, this tool is completely free thanks to Google Analytics. And once you’ve started using it to gain traction on your business, you can aim higher by going for better insights using paid tools to make your ROI even better.
Depending on the results you get from each campaign, you can decide to spend more time and money on campaigns that deliver the best results and even optimize them so they can improve their performance.
Conclusion
Thanks to technology, digital marketing has become a helpful sling that can shoot many businesses to the top in just a short time.
However, technology comes with certain volatility, and as such, digital marketing tends to evolve as more trends and technologies enter the market.
This makes it imperative for an entrepreneur to keep abreast of these new changes and keep up with the times.
And if you’re yet to even have an online presence, we implore you to get to work today and set one up for your business.
You can start with a social media page before upgrading to a website and then introducing email marketing to the mix. This will not only give your brand extra exposure but also leave you open to receiving new potential customers.
Why Choose Vexceed Technologies For Your Digital Marketing Agency?
Vexceed is a full-service digital marketing agency. We’ve been providing a wide range of services to clients of all industries since 2019. Our digital marketing services in Nigeria include consulting and management options for a variety of online marketing tactics including search engine optimization (SEO), pay-per-click (PPC) ads, copywriting, Amazon store optimization, conversion rate optimization (CRO), and more. We also offer expert branding and digital PR services for both eCommerce and B2B companies. Don’t just partner with any digital marketing agency; work with a company you can trust. Vexceed Technologies Limited is the best digital marketing agency in Nigeria.
