Ever since the inception of the internet in the 90s, it has overtaken every aspect of our life.
Talking face-to-face with a friend on a different continent;
Buying a pair of shoes on a discount on a shopping website than a store;
Transferring funds from your account to your parent’s;
And even acquiring non-guarantor loans is possible through various online lenders;
Everything is possible because of the internet. So, it was inevitable that the internet will overtake commercial activities as well.
Today, many businesses would be lost without the internet. From sales to finding the audience for that sale has been plausible through this invention.
Marketing is a platform that can help an establishment attract customer by giving them various enticements.
A subcategory of the market is digital marketing or internet marketing and even online marketing. With a name that has the internet in it, this vogue in the business domain has become more than famous.
Its popularity has resulted in some favourable and unfavourable comments on its use.
Let us look at both and find out the truth about the favorability of digital marketing.
Starting with the positive side, here are the benefits associated with this trend.
1. Least Expensive Form of Marketing
The first and foremost benefit of digital marketing is that it is pocket friendly. A reason for the same is the use of Social Media.
Making an Instagram or Facebook account will not cost you a penny. And posting on the same regularly about your business’ products and service is another cost-effective tool.
All you need for these is an active internet connection and a smartphone.
Even if you have 300 followers on Instagram, it means that 300 more people are aware of your business and its endeavours, and that is marketing for you.
2. Brings a Higher Number of Leads and Revenue
Digital marketing brings a lot more leads in the form of customers and consequently, more sales than the traditional sense of this concept.
One reason for the substantial number of leads is its global approach. The internet is active in almost all of the 15 nations of the world.
So, if you post something online, there is a likelihood that people from nations on the opposite side of the globe may see it. Provided that you can ship abroad, you will only benefit from such an audience.
3. Enables a Business to Compete with Leading Brands
The offline business world is immensely more competitive than the online world. Getting a 30-second commercial on TV will probably cost as much as my entire years’ salary.
However, that is not the case for the internet. It is less discriminating like that. A brand like Bobby Brown would get a similar chance of gaining the attention of the users as a local brand.
The follower count may be low for the local brand. Still, the opportunity of being at the same platform as the leading brands makes digital marketing extremely valuable for the former.
4. The Utilisation of Customer Information
This one is more specific to the websites and their user information. You must have noticed that whenever you land on a business website that sells something, they always ask you to provide some information before you even begin shopping.
This information includes details of your gender, phone number, email and some may even ask about your style and preferences.
The website stores all of these and uses it at a later time. The messages and emails you get from all retail website, Amazon included, are an example of the same.
Even with these many positives, the domain of digital marketing is marred by two prominent negatives.
1. Transparent Feedback
The first problem with digital marketing is that the feedback provided by the user is transparent and so, anyone, especially the potential customer, cam review it.
When the feedback is positive, there is nothing to worry about. A negative feed can ruin the sale for you.
I was browsing through the internet for quick financial assistance. I landed on a website that provided fast loans with no guarantor. I researched it and found that the site I was surfing through did not offer loans that were fast and could take up to a couple of weeks to get one.
In this case, the feedback helped me to choose the right lender, but from the business perspective, it meant a lost sale for the first website.
2. Security Concerns
The next problem is related to security. The internet spectrum is filled with such legalities and obligations that it can become almost impossible to safeguard yourself.
On top of this, the constant threat of hackers is another issue to tackle. Many online businesses are not safe for payments because they have a history of flawed payments and stolen credit card details.
Now, you know it all, the good and the bad. So, you tell me, is digital marketing worth the effort? Or does it only sound good on paper and at a distance?
If I were to answer this, I would say that indeed there are problems with the system. Even if you have the best products in the market, there would still be people who won’t like it. That does not mean that you should stop trying to make your products.
Likewise, even though there some problems with digital marketing, its merits supersede them by a landslide, making it more apparent than people give it credit for.