Top Reasons Why Digital Marketing Should Not Be Ignored in 2024

If your business is ignoring digital marketing in 2024, then you must be living under a rock and are destined for failure. I might sound harsh, but sometimes, a bitter truth is better than the sweetest lies.

There are 5.35 billion people worldwide who use the internet, which will further grow in the coming years. How will you reach them if you ignore digital marketing? If you want your business to not only survive but thrive, then investing in digital marketing is the only way to do it.

In this blog, I will give you some core reasons why digital marketing is important for the success of your business.

Building Brand Awareness and Reaching Out to a Wider Audience

You can have the best products or services lined up in the world, but it will all go to waste if people have never heard about your business in the first place.

That’s why having a brand that fascinates customers is crucial for the success of your business since five out of 10 customers said they would be willing to spend extra for a brand that appeals to them. Furthermore, brand awareness will also help your business gain trust and credibility in the eyes of the customers.

But raising brand awareness among the people is a herculean task, as it will require you to reach out to a wider audience, which is no easy feat.

I say this because there are hundreds of businesses out there that are selling the same products or services as you, so what makes you unique from them? Why should they purchase from you?

Also, how are you going to reach out to your target audience?

Reading this, you may ask, “what are my options?”

Well, the answer to this lies in digital marketing.

Digital marketing is one of the most effective ways to reach out to a wider audience. For example, you can come up with topics your customers are interested in and create useful content around them in the form of videos, podcasts, blogs, or social media posts. The stats I have shared below will tell you how popular these types of content are among the global populace.

• Over 40% of users in USA reported watching videos online daily
• There are 5 billion people using the internet daily. Out of them, 77% said that they read blogs regularly
• There are 464 million worldwide podcast listeners
• 95 billion people around the world now use social media

So, with the help of digital marketing, you can reach out to these people through different forms of media. Through videos, podcasts, blogs, or social media posts, you can showcase how your product or service is different from the rest.

Nowadays, influencer marketing (which is a part of digital marketing) is also picking up speed, in which you can partner with an influencer to market your product or services. You should focus on those influencers that are part of your industry, as the people following them are specifically looking for products or services that your business offers.

Influencer marketing is great for reaching out to a wider audience, driving sales for the business, and generating new leads.

Stats show that businesses are making an average $6.50 for every $1 spent on influencer marketing. And 3% pull in $20 or more. For the majority of businesses, influencer marketing is proving effective, with only the lowest 18% failing to produce any revenue.

These are two ways digital marketing can help you reach out to a wider audience while also boosting the brand awareness of your business, which is why you shouldn’t ignore it.

Cost-Effective and Better ROI

Digital marketing is much more cost-effective than traditional marketing and offers a better return on investment.

Traditional forms of marketing in which you place ads for your products or services on billboards, Television, and Newspapers can quickly burn all your cash if you are on a limited budget.

For example, when it comes to television ads, a 30-second ad can cost anywhere from $ 1,000 to more than $50,000. The broadcasting costs for this 30-second commercial can reach a whopping $105,000.

Placing an advertisement on a billboard is equally expensive as it may cost you approx $14,000 in large cities, $2,500 to $4,000 in small, mid-size cities, and $750 to $2000 in rural areas.

Lastly, a full-page ad in a newspaper can cost between $2,700 – $100,000.

Look, even if you have the required budget for traditional marketing, there is no way to gauge how well it is going to perform. It may be a hit or miss.

But, that’s not the case with digital marketing.

Digital marketing, compared to traditional marketing, is cheaper depending on the location. Here is the cost breakdown based on the hourly rates.