Digital marketing has grown year after year. In fact, it is one of the world’s fastest-growing industries thanks to changes in consumer behavior. People are using laptops, smartphones, and tablets to access information more than ever before.
Companies must alter their marketing strategies to keep up with the demand for online information. One of the ways that they can do that is by increasing their digital marketing budget. According to Small Business Trends, 70 percent of small businesses plan to increase their digital marketing spending for 2017. The reason that companies are increasing spending on digital marketing is because they understand how important it is in today’s business landscape. Here are some other reasons why you should increase spending on digital marketing.
Lets You Become the Leading Authority
Through the use of intelligent digital marketing, your company can be seen as a leading authority in your field. By posting provocative content that social influencers share on social media, your business can be the one that customers turn to when they want the latest information and news about your field.
Allows You to Quickly Respond to Customers
Social media and digital marketing allow you to quickly and frequently interact with customers. Just like in person, customers want to be heard and interact with brands that they do business with. This is what prompts them to choose you over your competitors. You can show your customers that you will be there for them through the use of tweets, posts and other interactions on social media. This can help you increase sales and bring brand recognition to your company.
Good Return on Investment
One of the most important factors when it comes to marketing is ROI. In other words, will you get good bang for your advertisement buck with this strategy? Digital marketing offers a great return on investment over the long run as it is a very low-cost way to advertise. In a digital marketing case study, Cadbury, the company that makes chocolate Easter eggs, compared their digital marketing ROI with traditional marketing ROI. They found that their online marketing ROI was four times greater than their television campaign. What makes this even more extraordinary is that they only invested seven percent of their budget in online marketing.
As you can see, increasing your digital marketing budget is a smart move for 2017.