An underlying fact every businessman is aware of is continuous lead generation translate into higher sales. A fresh lead calls for action in terms of pitching the services or products to someone who is in need of the same and is all set to pay if their requirement is met.
In most industries, 10% of new leads make a purchase. Clearly, greater the lead generation, the greater will its revenue be. In the current times, businesses are looking to surge the lead counter by using digital marketing.
Digital marketing proves to be an effective way of lead generation for a variety of reasons some of which are described below.
Digital Marketing Is Affordable
A traditional marketing campaign executed on print, TV, and radio is frightfully expensive. The expense of such campaigns exceeds lakhs and in some cases over 1 crore may need to be spent. Despite such high costs, a traditional marketing campaign doesn’t guarantee to deliver the expected results.
This is because such campaigns reach a wide audience, an overwhelming majority of who have little reason to purchase the product or service advertised. Therefore the large expense of traditional marketing campaigns is unjustified because they are grossly inefficient at lead generation from the quality aspect.
Digital marketing can easily be crafted to reach segments of consumers likely to buy what’s marketed. The first step to reach a niche audience is identifying the traits of those likely to buy a product or service. Young single men who’re shown adverts of stuffed toys and premium chocolates before Valentine’s Day are likely to buy them for their girlfriends.
Because digital marketing reaches a narrow audience it is affordable and produces results superior to those of traditional marketing campaigns. Before digital marketing, it was difficult for new brands to attract loyal customers.
The only way to reach a nationwide audience was through TV, newspaper, magazine, and radio. Hence the number of brands in the consciousness of consumers was small. Since the introduction of digital marketing, many new brands have found tremendous success and there has been an increase in the number of brands stored in the psyche of consumers.
Everyone Is Always Online
It’s no secret that smartphone addiction is commonplace. An average person checks his or her smartphone approximately 70 times a day. Among younger people, spending time online has usurped time spent with friends and family. Many free apps have been downloaded by millions and earn revenue only through digital advertisements. Across urban and rural India people of all ages spend at least an hour using their smartphone. This makes online platforms an ideal way to reach consumers.
Nearly 30 crore Indians own a smartphone and data is abundant and cheap. Smartphones are always connected to the internet and always within the reach of their owners. This makes digital marketing very effective in lead generation because consumers likely to be interested in a brand can be reached daily.
Measuring the Effectiveness of Digital Campaigns is Simple
Money spent on traditional marketing can seem akin to dumping money into a black hole. A company may spend many lakhs of rupees on a traditional marketing campaign, yet the campaign may not only be unsuccessful but also present inaccurate or vague data that doesn’t reveal consumer sentiment about the product or service advertised.
Over the years many companies spent astronomical sums on traditional marketing yet they failed. What’s worse they never understood what they did wrong.
The beauty of digital campaigns lies in their precise metrics that reveal their effectiveness. Real-time tracking of the campaign is a stellar feature of digital marketing. This allows companies to tweak unsuccessful campaigns so they have a better chance of success or repeat successful campaigns.
The ROI of such campaigns can be measured to the last rupee and because digital campaigns are so affordable, multiple campaigns can be run at a fraction of the cost of traditional campaigns.
Digital Campaigns Offer Variety Suited to Needs
The subtle and obvious differences between companies and their requirements mean some marketing strategies are likely to be more successful than others. For instance, some businesses may not need to pay for a robust digital marketing campaign.
This is possible when they use organic strategies that highlight their brand but don’t require them to spend. A well-executed organic strategy will allow a brands message to be shared with audiences seamlessly.
Some companies may find paid campaigns more suitable. A paid campaign will highlight brands advert when users request products or services sold by the brand. The ecosystem of paid digital marketing campaigns is vast and companies may choose those that suit them best.
Experts Understand Conceptualising and Executing Campaigns
A digital marketing campaign doesn’t need a large team to implement or execute it. Because of this, the cost of a digital marketing campaign is low. However, despite the fact that a digital marketing campaign can be executed at low cost using a small team, expertise in conceptualising and managing a digital marketing campaign is required for it to be a success.
Such expertise is provided by a number of competent digital marketing experts who know how to create successful campaigns. Using their services a company can be confident its digital campaign reaches as many as possible and generates ample leads.
Both small and large companies benefit from digital marketing campaigns. Most large companies already use digital marketing extensively not only to create awareness about their products but also to gauge consumer sentiment. Swift feedback from digital advertising makes possible the latter.
Small companies using digital marketing are making inroads into new markets and challenging incumbents. It’s not uncommon for small companies to find success simply as a result of thoughtfully planned and executed digital marketing campaigns.