Successful businesses spend a large portion of their marketing campaigns on digital platforms to reach their target market. Why is digital marketing such an important part in operating a successful business? It is mainly because digital marketing is the preferred communication platform of Millennials, which have now the biggest purchasing power in the world.
First, what is digital marketing? Digital marketing is the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium.
Next, let’s have a closer look at our new customers, the Millennials. By 2018, Millennials will have more spending power than the Baby Boomers and by 2020 Millennials will have a collective spending power of $1.4 trillion.
Millennials make up 58% of mobile shoppers and are 2.5 times more likely than the average shopper to be influenced by a mobile app.
Millennials love social media. They have grown up in a social media revolution and embraced it with arms wide open. 43% of Millennials have liked more than 43 brands on Facebook, 63% stay up-to-date on brands via social media and 44% are willing to promote brands on their social networks.
The future will be defined by the Millennial generation. They will be the force that drives the economy, challenges long-held traditions, pushes for increased productivity and demands innovation.
There are many different social media platforms available which are used by existing and potential customers.
One of the leading platforms is Facebook. Let’s have a look at the top 10 benefits of a business Facebook page. A business Facebook page provides an increased exposure to potential customers (1.19 billion users), it is a platform to gather more leads, it provides you with lower marketing expenses, reach your targeted audience, you can use Facebook insights to analyse your hit rate, build brand loyalty, increase your web traffic, boost SEO, is available via mobile, as well as it is a good tool to spy on your competition.
Another very important part of digital marketing is the search engine optimization. This is the process which is affecting the online visibility of a website or a web page in a web search engine’s unpaid results, often referred to as “natural”, “organic”, or “earned” results.
SEO is a marketing discipline focused on growing visibility in organic (non-paid) search engine results. It encompasses both the technical and creative elements required to improve rankings, drive traffic, and increase awareness in search engines.
What are the benefits of SEO? First, the results are low cost in comparison to AdWords and PPC, it definite increase in traffic, creates higher brand credibility, people trust Google, provides a better return on investment than normal ads, and your competitors are doing it. Overall it takes your business to the next level.
Here are some interesting statistics from 2018, on your customers social media habits, which will prove the importance of digital marketing in your business.
79% of Aussies are on social media compared with 47% of small and medium businesses. 71% of our social networking is done in the evening or 51% first thing in the morning, followed by 47% at lunchtime and breaks. 59% of people access social media every day or most days, and over a third check social media over five times a day. The most used social media platforms are 94% Facebook, 46% Instagram, 40% Snapchat, 32% Twitter. People check social media platforms 96% at home, 59% in the bedroom, 43% on public transport, and 35% at work. Meanwhile, 64% of consumers are more likely to trust a brand if it interacts positively on social media.
With such an intense social media activity in Australia, it is surprising that only 47% of small businesses are active on social media. Medium size businesses are only 49% active, compared to 60% of large businesses.
As Millennials have now a collective spending power of $1.4 trillion, and with that make up 58% of mobile shoppers, it is impossible to grow any business without a strong digital marketing plan.
I hope this article will give you some general business growth inspiration but if you need assistance, just give us a call. We are very happy to give you sound advice.
Synergy Consulting Australia provides a large range of business consulting services which includes 4IR, Legal, Accounting, Marketing, Project Management, Migration services and many more tailored business solutions. This also includes full market research and feasibility report before investing. www.synergyaustralia.com.au
Synergy Consulting Australia is led by Ilona Solinska. Ilona has over 19 years of international business consulting experience. She is a successful Business Growth Strategist, Educator, Keynote speaker, and Writer. Ilona has coached hundreds of businesses in the area of Marketing, Finance, Legal, Compliance, Operation, Change & Project Management and is a highly sought-after presenter on a wide variety of business topics.