The world of digitalization conquering almost every vector on the earth. It has now become evident that brands have been pushed to adopt digital marketing and digital media to promote their business. The advent of artificial intelligence taking over providing better user experience to the users on the internet.
The dimensions of social media and search engines have been continuously evolving and have contributed to attracting vast traction. But how all this is going to help businesses achieve their goals? Let us answer this by discussing 7 important reasons why your brand need a digital strategy in place.
1. Numbers show an increased audience intent on Digital Media & Content.
The recent stats by Hootsuite and we are social suggests that out of the 1.3 billion Indian population 560 million use the internet, 310 million ard active social media users out of which 290 million use social media on mobile.
Let us one of its interesting stats that suggest how digital media is driving the business environment for brands.
The trend of intent being towards video content, it is expected that video content may drive conversion decisions at least for the next 5 years. The below stats from singlegrain.com is evident for the statement.
- 70% of consumers say that they have shared a brand’s video on their profile
- 72% of business brands say video has improved their conversion rate
- 52% of consumers say that watching product videos makes them more confident in online purchase decisions
- 65% of executives visit the marketer’s website and 39% call a vendor after viewing a video
Video Marketing is going to be the next big thing brands are going to invest in 2020, where already most brands are significantly leveraging the benefits of video content. Mediums like Tik Tok and YouTube are ruling the platform enabling users to monetize content.
2. The advent of technologies like Artificial Intelligence in Digital Marketing.
The technological intervention of artificial intelligence goes hand in hand with digital marketing. The evolving technology of artificial intelligence and its application is revolutionizing digital marketing, making it a necessity for brands to adopt digital marketing in their promotional strategy. Let’s discuss a few stats and applications that support the above points.
- Almost 60% of consumers have used voice search to purchase or find business information in the last year and almost half of those use voice search daily to find local businesses. It’s also predicted that half of all searches will be voice-based by 2020
- Another survey by Salesforce indicated that 51% of marketers are already using AI, and 27% more are even planning on incorporating this technology in 2019.
- Netflix saved $1 billion this year as a result of its machine learning algorithm which recommends personalized TV shows and movies to subscribers. (Business Insider)
- Companies using AI for sales were able to increase their leads by more than 50 percent, reduce call time by 60–70 percent, and realize cost reductions of 40–60 percent. (Harvard Business Review)
Some Key Applications of Artificial Intelligence in Digital Marketing
Targeting in Digital Advertising
Digital advertising is, without a doubt, the area of digital marketing that’s most effectively adopted artificial intelligence.
For example, Facebook and Google ad platforms already use machine learning and artificial intelligence to find people more prone to making the advertiser’s desired action. To achieve this, they analyze the user’s information, like their interests, demographics, and other aspects to learn and detect the best audience for their brand.
Google AdWords already has an automatic auction-based system that lets advertisers pay the lowest possible cost per conversion.
They’re also already platforms that incorporate AI and the analysis of big data candidates in their processes… but wait until we tell you about Ad text.
Voice Search and Chatbots
Statistics reveals that almost 50% of the searches on the internet would be based on voice search by 2021. The advent of innovative products like Amazon Echo, Google Home, Apple’s Siri, and Microsoft’s Cortana have contributed in making searches easy and user friendly.
Google’s rank brain is trained carter best results to the user that matches their voice search with the help of AI. Google’s data reveals that most of the voice search that is happening are in conversational language and does not match the conventional search.
These factors have pushed brands to adopt their content strategy to voice based search queries. This is giving a new perspective to brands content strategy by catering opportunities in serving conventional and conversational content relevant to the brand.
Chatbots on the other end are providing enhanced user experience to customers. Chatbots have drastically reduced the response time to customer queries, are available 24/7 and extremely user friendly.
Content Creation, Curation and many more
Many tools like Articoolo and wordsmith uses AI to generate content based on the keywords and topics given. Even bigger brands like Forbes and BBC are using these tools to generate content.
AI is also used to curate your content to relevant audience based on their behavioural data by enabling brands to show content only to their relevant audience thereby generating greater engagement. AI has other broader applications in email marketing, Website design, UX and predictive analytics.
3. Calculated and Better ROI
Unlike the traditional marketing channel, The ROI in the digital channels can certainly be measured accurately to an extent with the advent of data analytics tools and campaign management interfaces from the predominant mediums like google and facebook etc. Whereas in traditional medium it becomes certainly difficult to identify the ROI when you are running multiple campaigns simultaneously.
Let us see some statistics to identify the medium that gives brands better ROI on their budgets.
- As indicated in the GetResponse report, 53% of businesses across industries and 55% of those who work on marketing/advertising agencies say Email Marketing delivers good to excellent return on investment.
- While, 73% of marketers worldwide say Email Marketing is a channel that delivers medium to excellent ROI, according to Statista.
- According to GetResponse report, 45% of businesses across industries and 50% of those who work on marketing/advertising agencies say SEO delivers good to excellent return on investment.
- In a study from Statista, it was also revealed that 73% of marketers worldwide rate SEO as a channel that delivers medium to excellent ROI.
- The report from GetResponse reveals that 43% of businesses across industries and 48% of those who work on marketing/advertising agencies say Content Marketing delivers good to excellent return on investment.
- The study from Statista also states that 70% of marketers worldwide find Content Marketing as a channel that delivers medium to excellent ROI.
- According to GetResponse, 50% of businesses across industries and 53% of those who work on marketing/advertising agencies say Social Media Marketing delivers good to excellent return on investment.
- Meanwhile the study from Statista that reveals that 59% of marketers worldwide rate Social Media Marketing as a channel that delivers medium to excellent ROI.
4. Targeted and Wider Audience
The online advertising platform gives you the privilege of targeting your audience for the campaign based on interest categories. The cookies data of users enables the platform to do so where a business can define who should look into their ad based on demographic, interest and online browsing pattern, which is not the case in traditional advertising channels.
Performance advertising like Google ads and social media paid campaign enables this feature by generating more quality reach, engagement and leads. The advent of technologies like AI makes the automation of campaigns more effective by understanding the behavioral patterns of audience in the online medium.
Advertising through digital medium also enables you to retarget audience who have previously interacted with your website, app or social media profiles etc. This increases relevancy to your ads and help customer retention on a large scale when compared to traditional marketing.
5. Building Effective Brand Presence
Digital marketing enables your brand to have an effective brand presence with certain unique features and potential that traditional marketing fails to possess. Below are the descriptive briefs for some of the key elements that brands can leverage.
- You could define your Overarching Goals and set campaigns accordingly
- Digital marketing enables you to retarget customers who have shown interest in your products or services
- You can have a user friendly website that can be visible in search engine through effective Search engine optimization
- You can effectively manage your online reputation by responding to customer feedback and create a better customer experience.
- Create Branded Content
- Build Your Brand Digitally with Multi-Channel Marketing
- Leverage Your Brand with Advertising
6. Better Prospects of Lead Generation
Lead generation is the most important element of digital marketing. It is nothing but building interest to a likely customer by serving them the information about the service or products and encouraging them to get into the first step of the sales process.
Nowadays, Business persons are running out of gas with the traditional marketing strategies to spot right consumers. So, Businesses need to imperatively rely on online marketing where generating lead is as easy as abc. Lead generation is mutually beneficial for both business and consumers. Here are some of the key factors that Businesses can rely on digital Lead generation.
- Lead generation through Digital drives a huge amount of invaluable potential customers which salespeople are striving hard to get.
- Helps to create a community that is frequently following your services or products.
- Cost efficient compared to traditional marketing strategies like tv ads, print ads.
- Can target designated geographic location where the business is interested.
- shortens the sales cycle and also increases conversion rates helping a business gain profits.
- Favors to scale customer acquisition process.
- Can generate brand awareness and better ROI.
7. Advanced Analytics and Better Competitor Analysis
Practising digital marketing gives us the ability to track and analyze the marketing strategies performance with the help of digital analytics. Digital analytics is the process of measuring and analysing the collective data of your business. Google Analytics presents you how many people are interacting with your website, what pages they’re looking at, what is your customer’s interest and information like that.
If you are desperate to build your own business identity in the market you need to determine your top competitors first. You need to run competitor analysis when you are establishing your marketing strategies which most of the companies consider unnecessary. Let us see some key points on how competitor analysis influences digital marketing.
- Competitor analysis enables you to realize competitor strength. It’s important to know what your competitors are doing better than you.
- It lets you know where you stand in the market which teaches you to assess what marketing strategies work and what doesn’t.
- Analysing competitors is the best way to recognize current marketing trends which helps you to draft effective marketing strategies.
- It gives us a complete idea of which keywords need to focus, what campaigns work and what marketing strategies will make an impact among customers.