We could write a book about the benefits of digital marketing and how well it works. But if you have both eyes on the bottom line, there’s probably just one chapter you’d be truly interested in. That chapter might be called “Return On Investment” or similar – and we can tell you, it will have a happy ending.
That’s because digital marketing delivers a far greater ROI than traditional marketing ever will. While the aim of this exercise isn’t to totally diminish the effectiveness of conventional marketing, it just doesn’t have the reach, immediacy, connectivity, interaction, engagement and effectiveness that digital marketing does. All of those benefits combined are highly affordable – and the less you spend on marketing, the more you save and the better your return will be.
For a form of marketing that gives you global reach as well as a host of other advantages, digital marketing is remarkably cheap, especially in comparison to traditional marketing. It is still relatively expensive to promote a business on TV, radio and newspaper. While advertising rates are coming down, that is only in response to dwindling numbers. Consumers are flocking to digital platforms to get the information they need, and conventional broadcasting mediums are cutting their charges in an attempt to compete.
In many ways, it is too late. Digital marketing in all its forms, from social media marketing to Facebook and Google ads, to email marketing to Search Engine Optimisation, has stolen a march, and in spectacular style. When you see the statistics below, you’ll understand why.
- According to one report, email marketing ROI is calculated to be 4,200% or 42x. That means, for every dollar brands invest in email marketing, they will receive $42 in return.
- Companies that use blogging as a marketing tool are 13 times more likely to get a positive return on their investment.
- It has been widely circulated that companies generate an average of $2 in earnings for every $1 they spend on Google Ads.
- 72% of marketers say that they improve engagement through content marketing.
- After following a brand on social media, the vast majority of consumers will continue to engage with that brand. 91% will visit the brand’s website or app, 89% will buy from the brand and 85% will recommend it to others.
More proof that digital is outstripping traditional can be seen in the response of newspapers and radio stations. They’re now putting more and more of their human and financial resources into online versions of themselves: how many of us now read a newspaper on the internet, or stream a radio station online? Even television broadcasters are making their content far more accessible on the web. Traditional media platforms like these know that online is the place to be and for a far greater ROI, that’s where your marketing should be too
