Today, businesses need a digital presence more than ever before. The overwhelming majority (85 percent) of consumers research products or brands online before purchasing. Nearly three-quarters use websites, and another 38 percent use social media. While content and social media marketing can attract and engage consumers, businesses need a digital ad program to reach the right consumers, convert them to customers, and capture data-based insights about their marketing effectiveness.
Reaching the Right People
Digital ads allow you to target the specific audiences most likely interested in your brand or product. You can design different ads, each tailored to a particular demographic or set of interests, and automatically serve consumers as customized for them. You can also serve ads based on a consumer's pre-purchase behavior, such as specific keyword or key phrase searches.
Additionally, through ad retargeting, you can serve digital ads to those who engage with your branded online channels in a pre-determined manner. For example, you may show ads to a user who has visited your website but has not provided contact information or made a purchase. Such an ad will remind them of their visit, encourage them to return, and keep your brand top-of-mind.
Given the versatility of digital advertising, you can tailor your marketing strategies closely to consumer interests and behavior. You can also make your digital ads stylistically cohesive or timed alongside radio ads to increase effectiveness for both. Either way, investing in digital marketing helps you improve your business's conversion and customer retention rates considerably.
Measuring Your Ad Performance Easily
Digital ad programs provide a wealth of data in real-time. You can use that data to track the effectiveness of your digital ads at a granular level. You can make changes to your ads in real-time. If a particular display ad is not resonating the way you believed it would, you can redesign it and replace it quickly.
Digital ad data can also provide important information about would-be and existing customers. You can see how they respond to your ads and when and how customers access your branded online channels. Using social media ads and others with mechanisms for consumer feedback, you can gain product and service feedback. And you can uncover new untapped markets for your products.
The data you collect from a digital advertising campaign may be its most important benefit. By properly evaluating it, you can implement new marketing strategies and enhance your product and service offerings to increase your sales and profit substantially.
Competing More Effectively
A well-designed and executing digital marketing plan can help businesses of all sizes to compete more effectively. A viral ad can capture sales, while a consistent and compelling ad program can capture market share from a competitor. Many relatively young mid-size and large businesses owe their success to digital marketing.
For more insights on how digital marketing can help you grow your business, explore the Federated Digital Solutions Blog. Understanding how digital marketing works and how it can enhance your other marketing efforts is critical to your business' success.