Should You Take the Plunge? The If, How and When of Digital Marketing

invest in digital marketing

In 2017, Deloitte surveyed 31 countries (developed and developing) across five continents and published its Second Annual Global Comparison on Mobile Phone Use. The report highlighted that smartphone penetration has gone past the 80% barrier.

Now that I have made my argument stronger by presenting valid “DATA”, allow me to reiterate that the world is going Digital by the second, and Digital Marketing is on the agenda of every business. Whether big or small, more and more businesses are planning to invest in Digital Marketing. The ones who have taken the plunge are contemplating if they should double down or ease off a little and others are thinking if they should sign off on Digital Marketing and do what everyone else is doing.

This article will help businesses that are still on the fence, make a decision (or not, it’s your life).

The Times We Live In!

Remember the days when pamphlets that came with the newspaper were filed? I was always on the lookout for a new restaurant that would deliver in my locality. My neighbor was a computer geek and I’m pretty sure he kept all the boring pamphlets.

We have reached an era where showing me a Jack Ryan Season 3, Coming Soon advertisement on IMDb while I’m searching for the “Top 250 Movies of All-Time” is more effective than putting it out on the front page of a newspaper.

What Will Digital Marketing Do For You?

The idea behind Digital Marketing is simple and straightforward:

  1. Drive Sales:
    Your business without Digital Marketing is limited to a certain geographic area, Digital Marketing increases that limit. Think of it as opening five stores instead of one, sales will most certainly be higher. There will be a cost associated with expanding your reach but with the right tools and targeting, you can reach the break-even point faster.
  2. Increase Potential Customers:
    Digital Marketing cannot be measured by sales alone, increasing your potential customer base is an equally important outcome as well as a Key Performance Indicator of Digital Marketing efforts. One cannot convert everyone into a customer, the idea is to have numerous touchpoints so that you are one of the options that the potential customer will consider before making a decision.

How Do I Know The Time Is Right And Now?

The decision making, whether or not to invest in Digital Marketing, is contingent upon a number of factors but today is your lucky day as I am going to break it down for you (and I do solemnly swear that I have not pawned it off from another article on the internet).

  1. The Proactive Way:
    No one knows your business better than you do, reverse engineer the entire thing (the Chinese mastered this, and are at the forefront of every supply chain on this planet). See where you are right now and where you want to be down the line. If you find spending on Digital Marketing helps you along the journey, then go ahead with it.
  2. The Reactive Way:
    If the ship for reverse engineering has already sailed or sunk, look at your competitors. What avenues are they leveraging? How do they engage “customers”? The plan to execute Digital Marketing is already out there, analyze it, and do some fine-tuning so that you can catch up at the earliest.

Endnote

For my final argument, I want to share what Kasey Kaplan (Founder and CEO @ KWK Studio) told me last week – “Often businesses resort to Digital Marketing as a silver bullet out of desperation when in reality it takes time, planning, and resources to get positive results.”

Want to understand more about how you can use digital marketing to grow your business exponentially? Connect with Dignitas Digital today!

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