Did you know that the money spent on digital advertising and marketing is close to $700 billion by 2024?
It is not a secret that marketing has always been a key part of any business even before the appearance of the internet and the social media platforms. Defining the right marketing strategy always impacted the year-end revenue. Needless to say, all businesses target a higher revenue every year.
But, because of the time people spend online, digital marketing has boomed recently. The following numbers from the beginning of 2024 clearly show the growth of internet:
– The number of websites reached 1 billion
– Facebook has more than 3 billion users
– Instagram has 2,5 billion users
– The number of daily internet users worldwide is over 5 billion
This massive audience can not be ignored, so businesses realized that being “online” means potentially more customers. And more customers mean more revenue!
Having a modern website and using the social media channels can help you sell or promote your product or services easier than ever.
Currently, there are many ways of digital marketing – SEO, PPC, Email Marketing – but the most effective is still Social Media Marketing.
Facebook and Instagram Marketing
As of now, out of the 3 billion Facebook users, more than 2 billion are active daily users. That is why every business owner wants to be present in the online world. And no matter if you have a carpet cleaning company or you sell flowers. You must be there!
Besides being visible, it also gives you the option to boost posts and run different campaigns via paid advertising.
Facebook gives you the chance to fully manage your marketing campaigns. You can set your own budget for each campaign, check the results, choose your audience and implement these to the Instagram page of your business with just one click.
You need to have a clear plan and set regular campaigns to test what is the best way to reach the targeted audience.
This way you can reach more people, increase the level of engagement on your posts and you also have the opportunity to target individual interests and demographics.
The majority of people now use the internet to find out about businesses, so you’d be crazy to not have an online presence and be involved in the conversation. If people can’t find your business online, people will choose a competitor and you will lose significant income.
Why Facebook marketing is better than the traditional marketing methods?
Digital marketing is a lot more cost-effective than traditional marketing methods, which is ideal for businesses that have limited funds and resources. You also have complete control over how you spend your money, targeting certain marketing streams depending on your needs. It also allows you to be flexible with your money, pivoting to different marketing strategies when required. This reduces the risk of wasting precious finances and ensures money gets allocated effectively.
Another great reason why digital marketing is important and superior to traditional marketing tools is that it’s measurable. With digital marketing, you’ll have access to a huge source of data and metrics, whether that’s impressions, views, time on a page, click rate, and so on. This means you can see accurate data in real-time.
This is invaluable when it comes to evaluating how well your brand’s digital marketing strategy is performing and allows you to reallocate time and money to other areas if a particular campaign is underperforming.
Not only will you be able to learn from your mistakes, but you’ll also be able to see how and why a campaign has been successful – using this knowledge to help move the business forward in the future.
Further advantages of digital marketing
Implementing digital marketing strategies can also be a lot quicker and more efficient, as you’ll be able to start the process immediately.
Even if money or resources are a little tight, there are still things you can do to get the ball rolling and help improve your brand’s online presence, such as increasing social media post frequency and implementing some basic SEO on your website.
Some of the traditional marketing techniques can be incredibly time-consuming, whereas digital marketing helps to free up precious time and reallocate it accordingly.
Do you know what makes digital marketing even more effective these days?
The smartphones
There are approximately 6.84 billion smartphones in the world, with 4.76 billion people using social media globally.
As a society, we are glued to our mobile phones, relying on them to communicate, shop, manage finances, and more importantly, search the internet for products that resonate with us. According to recent data, the average person spends 3 hours and 15 minutes on their phone every day. You need to ensure your website is compatible with mobiles and the user journey is well-suited for smartphone.