An estimated 184 new businesses are started every day, for a total of 67,000 per year. The goal of each is to effectively communicate what makes them different from the competition and build a brand identity consumers can relate to. In addition to having years of experience in building recognizable brands and loyal customer bases, these businesses also have far more capital to spend on advertising. Competing with these giants is no easy task, and while there is no “cheat code” to gaining a competitive edge, one thing that will greatly assist is digital marketing. The only way a startup can succeed is to market better than established businesses, and since so many businesses have gone digital in recent years, the focus should be on the digital realm.
Due to a small budget, startups may not be able to allocate enough funds for their digital marketing efforts, or they may not spend any at all at the beginning. Some startups may consider their product or service so good that they won’t have to market it or overestimate the power of word-of-mouth advertising. No matter what the reason may be, not investing enough time and resources into effective digital marketing strategies leads to failure.
Why is digital marketing so crucial to startups? Here are some thoughts from Mac J Web’s digital marketing experts:
Customer Understanding is Improved Through Digital Marketing
Startups will get to know their customers much better through digital marketing than through print or television advertising. With certain technologies and services, such as Google Ads, startups can monitor, interpret, and track their customers’ behavior. These data are an invaluable resource for startups as they can help them make better, data-driven decisions to maximize growth. In addition to analyzing this data, companies like Mac J Web can assist startups in understanding what products and demographics work best for their advertisements.
True Engagement With Digital Marketing
By reaching consumers through the platforms they use most frequently, digital marketing makes products and services more accessible to them, and encourages them to interact with the advertisements rather than simply view them passively. Social media marketing is one aspect of digital marketing that perfectly illustrates this. Consumers have the possibility of interacting directly with advertisements – liking, commenting, sharing, et cetera – and brands through social media, thus bridging the gap that exists between the brand and those that use its products and services. With the growth of interaction, brand awareness increases, as does the amount of traffic their websites receive as well.
The Digital Marketing Strategy Offers Cohesion
In today’s competitive market, brands have to build an image that is as important as providing a quality service or product. For startups, it is especially important since they do not have years of experience or thousands, if not millions, of loyal customers to leverage when building their brand. Using digital marketing, brands can grow by capturing and communicating their image across channels and devices with ease. The strategy is known as omnichannel marketing.
Success is Driven by Data And Metrics Provided By Digital Marketing
By taking advantage of digital marketing, startups can gauge the success of their campaigns in real-time, eliminating the guesswork of how many people saw an ad and whether they were interested in the product or service advertised. Some different data points, including demographics like age, gender, and household income, are analyzed in digital marketing services to identify opportunities and predict future behavior.
Startups must have effective digital marketing strategies in their marketing plans, and the digital marketing experts at Mac J Web can help you determine which strategies are best for your new business. Contact us today for more information!