It might not be considered “new” anymore, but it’s never too late to start digital marketing. Research suggests that while B2B marketing spending in 2020 has fallen (due to the pandemic), digital marketing spending actually increased, overtaking traditional mediums. Even if your existing offline marketing is providing a solid ROI, perhaps digital could be another strand in your marketing mix.
As we’ll explain more, the beauty of digital marketing is that it can be implemented for no financial cost and can be instantly measured for effectiveness. It’s marketing’s answer to no-win, no-fee. So, why should you start to dabble in digital?
What is Digital Marketing?
First, let’s clarify. Digital marketing is pretty self-explanatory; it’s any marketing that takes place on an online, digital medium, such as email, websites, social media and search engines. In other words, it’s any marketing connected to the internet.
It differs from offline marketing in its implementation, as well as its form. For one, digital marketing is a great leveller which is good news for SMEs. It’s largely free at the point of entry and its customizability allows you to swoop down and target the select few most likely to buy from you. So, for you digital newbies, we’ve detailed why and what you need to start.
Why start Digital Marketing?
While there may be a lot of new skills to get to grips with, there’s a whole heap of new opportunities provided by digital marketing.
1. Do a lot more with a lot less
One of the clearest benefits of digital marketing is that much of it can be done at no financial cost. For example, creating social media profiles for your business and putting out regular content. This might be time-consuming, but for a savvy social networker, it can mean access to a whole new audience without spending a single penny. Alongside email marketing campaigns, blogs and organic SEO, there’s a lot of ways to boost your visibility and engagement with little risk.
2. Opportunities for more focussed, tailored marketing
Instead of the one-size-fits-all approach of offline marketing, digital allows you to tailor, personalise and control what you put out and to whom. Let’s say you own a paper company. Your target audience is likely to be CEOs of publishing companies, of a certain size, in a certain region. The customizability of digital ads allows you to target only those that you consider potential clients, rather than spending money on exposure to an audience unlikely to convert.
3. Chances to measure effectiveness
You don’t have to take my word for it. Another advantage of digital marketing is that you can see the levels of reach, engagement and even track leads back to the original source of interest, in real time. Free platforms, such as Google Analytics, allow you to measure what part of the marketing mix is working and (even more importantly) what isn’t. This is one of the key advantages of digital, since it’s notoriously hard to gauge the ROI of offline marketing methods until long after the fact, if ever. With digital, you can use this readily available information to cut out the dead weight and reinvest in more lucrative marketing channels.
What you need to start Digital Marketing
To make the most of the opportunities afforded by digital, there are a few things you’ll need.
1. Digital literacy
Do you, or someone in your team, have the requisite IT skills to implement your own internet marketing? Similarly, the tone of platforms such as Twitter and LinkedIn are different from offline platforms. Do you know how to adapt your current copy to fit the distinct tone of different digital platforms? If the answer to either of these is no, consider whether it’s worth training you current staff, or outsourcing to a marketing specialist.
2. Time and talent
The possibilities for user engagement on digital platforms are some of their best features. Clients feel valued when you’re contactable via comments or direct messages. However, this is time consuming. You want to ensure you have the right talent available to cover the social media management. Similarly, the free endeavours like creating original blog content take time and effort. However, you don’t necessarily have to hire or outsource. Here are some examples of marketing tools on the market that can help.
3. A cutting edge
Is your messaging clear and convincing enough to stand out online? The abundance of free marketing space that digital platforms have created means that you have to rise above your competitors. Your message, pain points and ideal client should be worked out in your digital marketing plan if you want to cut through the noise and be noticed by your target market. Make sure you have talent available to you to craft a clear digital strategy before diving in the deep end.
Digital is already the dominant form of B2B marketing. It’s not a question of whether you should be doing it, but how you can incorporate it into your current marketing mix with the best outcome. Digital platforms offer SMEs the potential to get a better overall ROI than with offline media alone. With most digital platforms and analytics tools being free to use, you can have fun experimenting without risking capital. However, that isn’t to say it’s free and easy. If you learn how to play the game; engage with clients, appeal to the algorithms that determine SEO, etc. digital marketing could be the most lucrative strand of your marketing plan.
If you need help with anything discussed here, from creating a tailored marketing plan, creating original content, or managing social media, we have the expertise and resources to help you integrate digital into your marketing mix. Contact us on 020 8634 5911 or click here.