The Power of Digital Marketing Keeps On Growing

Long gone are the power of billboard and leaflet marketing, even if some businesses continue to combine online and offline marketing campaigns to drive messages into an increasingly distracted audience. However, digital marketing agency growth attests to the continually growing power of online advertising spend and a need for digital marketing specialists.  Of the world’s 7.9 billion population, 4.88 billion people around the world now have access to the internet, most commonly via smartphones.    people are active social media users who, on average, spend nearly two and half hours on social media alone on a daily basis.

Add to this, the time spent outside social media, but still online, searching on Google, visiting websites, reading news, texting, etc, then, before you know it, you can add another two to three hours of screen time.  This is an unprecedented cultural shift away from attention on T.V., paper brochures, or traditional offline advertising channels.

In fact, a Statista survey about smart phone usage shows that In the US, people spend 5-6 hours a day staring at phones, tablets and computers. That translates into several hours per day for endless advertising opportunities to your customers and eyeballs tuned to receiving your digital marketing messages. These numbers alone might be enough to make you appreciate of the power of digital marketing enough to incorporate it in your marketing funnels if you are not already doing so, and to expand your array of ‘rods in the fishing pond’, if you already have a digital marketing footprint.

Today with the help of a huge array of digital marketing tools and platforms, you can specifically target and prospect users whom you might not have been previously able to reach, using traditional marketing means.  Furthermore, your efforts are no longer scatter gun, without measurable results, you can advertise to users who are more likely to be interested in your products and services and with some effort, be able to better encourage them to become your long-term, loyal customers, which ultimately saves you more in terms of marketing costs versus returns.  

You can leverage social media marketing to target specific audiences, based on many demographical variables, according to who you think are your ideal audience, such as basing messages and channels on their age, gender, location, interests and purchasing habits. You can also advertise on pay-per-click (PPC) marketing channels such as Google Search Ads, to serve advertisements to those who have shown interest in your products or services already, or to users who search for ‘keywords’ related to your business niche.

The Real Challenge For Digital Marketing

At the time of writing this, we are two years into the global Covid-19 Pandemic and hopefully this is coming to an end in terms of crisis business conditions. A McKinsey report  claims, “…we have covered decades in days in digital adaption”. This revolutionary transition to the online world that has been taking place in the last few decades has truly changed how we work, communicate, shop, or entertain ourselves. This ever-burgeoning online life-style has particularly had a major impact on E-commerce. 

Global online sales experienced a massive 63% growth towards the end of 2020 and increased by another 11% in 2021, perhaps unsurprising given the global pandemic, but what is interesting is the increasing preparedness of older generations to pay for products and services online. In some countries such as the UK, consumers have shown up to 75% increase in online shopping compared to the pre-pandemic time.

Following this trend, more retailers have closed their physical stores and have shifted their focus online.   Together with this, businesses have allocated more of their marketing budgets to digital advertising and are seeing unanticipated boosts in revenues as a result. Some of these businesses are also many of the leading brands with excessively high advertising budgets.  This should be a signal to smaller operators who can be confident that if the bigger players are seeing an opportunity, then that is also open to smaller businesses too. 

research paper AdsRunner came across shows that global digital ad spend grew by 31% in 2021 and it is estimated that will grow by another 17% to hit $515,277 Billions in 2022. This shift to the online space and associated increase in advertising has, however, have led to a downside of much higher competition and higher advertising costs for many players. 

This means for most businesses, it’s becoming ever more challenging to run a profitable business and meet return on ad spend (ROAS) targets; their expected ROI from their digital marketing efforts is not necessarily happening as fast as advertisers would like, or in ways they expect. 

Align Your Digital Marketing Strategy with Your Business Goals

Your digital marketing strategy must reflect your business strategy, as well as both your short-term and long-term goals. Hence, the are a few considerations to make when either getting started in your digital marketing campaigns or when planning to scale up. 

If you are a well-established brand, you probably already benefit from a reasonable degree of brand awareness. Chances are, you have successfully built up a customer base and have collected plenty of data in the process, so you know your audiences well and are more easily able to target new and existing customers. These historical data points will help you gain insights into what has worked for you traditionally and build on your strategy moving forward.  

However, it can be all too different for a business just starting out these days.  Most start-ups have a very limited marketing budget, so they must make an immediate profit for every dollar or pound spent.  It’s important when setting out to set your marketing expectations right and understand your business growth journey.

For instance, you might come up with a new line of products that have hundreds of stock keeping units (those details differentiating products, known as SKU’s).   You may want to advertise all the products without holding any prior data. You may gather some ideas about advertising costs, but you don’t necessarily know which product works best and sells more, so your focus may be misplaced, and you can waste your marketing efforts and limited budget. Even if it’s a quality product that beats all the competitors, you have no brand equity and credibility to rely on, so why should consumers choose to buy from you, if you don’t stand out against the white noise of online, global advertisers?

You also have to ask yourself what kind of business you are running. Are you going after a single purchase, generating a large cash-flow, a subscription programme, or growing your business into a well-known brand, where your customers will come to for all their future needs?   Get clear on your intended outcomes for your campaign before you begin the process of setting up, because if you have no clarity on direction, you can veer off course very quickly, losing out to your competitors.

The Best Digital Marketing Channel For Your Business Needs

A general rule of thumb for marketing is to be everywhere that your potential customers are. However, in real terms, this simply isn’t possible, as your marketing budget and your profit margins might not allow for that to happen.  Of course, you want as many potential opportunities to communicate with your audiences, but appropriate selection of channels, products and messages is the ‘art’ underpinning the science of technique and mechanics.

Instead of jumping in without a plan, you must focus on establishing your main sales channels that are your money makers first. Once you have that place and have a stable stream of sales, you can then achieve the kind of revenues that enable you to expand your marketing funnel and add more marketing channels to your wider funnel.  Your advertising must always pay for itself – setting aside so-called ‘loss leaders’, which are an exception.

Social media marketing, for instance, works better for targeting your ideal target consumer base, demand generation, building brand awareness and prospecting potential customers. Pay Per Click (Pay Per Click) marketing ads, on the other hand, work better for serving your generated demand and capturing it i.e. where you know your product is wanted and when it is wanted, then you can roll out your ad’s to generate sales.

What Can ADSRUNNER Digital Marketing Agency Do For You

Developing the right digital marketing strategy for your specific and evolving business needs is the key to successfully generating the kind of returns that enable you to invest a larger marketing budget into an expanding array of strategies.  In the short term, it can be a real challenge to identify the best marketing channels for bringing the right return on ad spend (ROAS) fastest and advertising strategies that will hit your expected return on investment (ROI).

You know from all your other business operations, that having the right setup in place is the key to your success; this very much applies to your digital marketing too; your infrastructure will either work for you, or against you, depending upon your foundations.

Developing the correct digital marketing strategy at any particular stage of business growth, choosing the correct marketing channels to capture your ideal audience, and implementing the correct tactics and methods in your campaigns facilitates profitable marketing campaigns for a profitable and sustainable business longer term, regardless of increasingly competitive market conditions.

AdsRunner’s Team of full-funnel digital marketing experts help clients just like you every day.  We work with all sizes of business and development stages, across a range of sector.  Working closely with you, establishing your short, medium and long term priorities, we will help you to develop and implement your digital marketing strategies, or run marketing campaigns for you, regularly reporting on results to show how we maximise your ROAS.

No matter what your business niche is, or whatever your marketing goals, AdsRunner can drive your business forward profitably and with minimum stress to you.  Maximising your budget spend, we can help you go beyond your existing customer reach, generate more leads and subscriptions, get more app installs, and grow and boost your sales, while you watch your returns and focus on what your customers love you for.

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