Adaptation is considered to be the main deciding trait of a human being. Anyone who thinks he does not need to invest in building his digital portfolio can be labeled safely as a dinosaur. For those being skeptical, the fact is that almost all big, medium, small business makes use of internet marketing regularly and Digital marketing brings in large chunk of revenue for them.
Lets look into signs that say you need to invest more on internet marketing already doing.
Your Customer base has become saturated.
According to the 2011 census the world population has been tallied to be around 7 billion so considering any number below this as saturation point isn’t a wise decision. When the internet is spreading in every nook and corner and there is a Smartphone in every hand now. Still, if your customer base has become stagnant it means you need to do more. Saturation prevents growth and it slowly creeps into your business threatening the very existence. Investing in internet marketing exposes you to new and varied audience.
Lack Of Returning Customers
Social media has the ability to create a persona of being physically available even though the fellow member is far way. This makes the customer to bounce back on the same brand every time they wish to fulfill their needs. Apart from these, Engaging with your customs in social media makes you more versatile, approachable and trust worthy.
Decrease in your website traffic
The main objective of a marketing plan is to reach the wide spread audience. If your website is witnessing decreased traffic you surely need to ramp up your game plan. Check the last time you changed content either on your website, keywords, blogs and social media communications. Decreased traffic is the first sign of things not going good digitally.
Here is a tip , Use Google analytics on a regular basis. Invest in internet marketing especially social media marketing that directs traffic to your website.
You are unable to overtake your local competitors
Your competition teaches you a lot and can be a quick source of change coming your way. Every business is a cumulative package of both strengths and weaknesses. Internet marketing gives you an additional opportunity to contain your weaknesses and project more of your strengths. Being a user of such strategies you can easily derail your competitors and fly way ahead. Investing in internet marketing will keep you more prepared. Check the shifting of customer base due to competitor’s efforts.
Witnessing a decrease in brand loyalty
Every triumphed business has a history of recurring customers. So losing out repeating customers is to be considered as a sin. Think of the possible reasons why this is happening. Maybe your customers have not heard form you for some time or the communication have become stagnant or boring. Look into the factors that may be affecting them or what your competitors might be doing right. Loosing brand loyal customers is same as loosing your kingdom a part a day.
Your revenues are dropping and traditional marketing is costing you a bomb.
Traditional marketing like flyers, billboards, and newspaper advertisement can put a load on your budget. If your business depends heavily on it then you know that the profitability is very low and must have seen frequent months of loss. Internet marketing can be your savior to generate new leads at relatively lower costs.
You have not tapped in the potentials of passive income
Digital marketing is like having a dedicated worker working for you 24*7. Customers view, shop or access at their own will and ease. If your digital marketing is not reaching out to your customers, you are missing on utilizing the full efficiency of the internet.
Look at the cost of acquisition for traditional and digital medium. You’ll start seeing the ratio you should be spending on digital marketing.
You cannot conduct customer feedback surveys.
Satisfying the customers and severing them until the brim is the first and foremost criteria of a successful business. But here the question arises how to get know what the customer needs? Here comes the concept of feedback. Feedback is very necessary to introspect and improve. If you cannot undertake customer feedback surveys, internet marketing can be your savior. With customers commenting on your advertisement or website you will be in touch with your strength and pitfalls. Your next strategy can be directly outsourced from your own customers. It also sends a strong signal that you are a proactive brand and always keep the customers in mind.
You don’t have brand image
Not having any brand image leaves you one amongst the many faceless businesses. To be unique you need to have an identity and brand image can be built easily through online marketing. Put some effort in branding your business. Hiring a good brand designer would be an ideal investment if you are not too clear of concepts. Social media campaigns, sponsored ads, better search engine optimization all lead to recognition that pays in long term.
Rising marketing overheads
In traditional marketing cold calling is the most frequently used methods to generate leads. Marketing costs tend to go high in traditional forms and breaking even will be a really difficult thing to achieve. If the basic of your digital presence is good, internet marketing will not be a challenge and will reduce marketing overheads.
You need a level play field
This is the best part of digital world. Whether you are big or small, internet marketing gives you equal opportunity to present yourself as a professional company. You can display your business without being intimidated or overshadowed by a giant competitor. If you are good, you don’t have to worry about anything else.
Finally a business’s revenue model can be plausibly contained into two macro aspects one is the product and the other being marketing. Since marketing plays such a vital role in a company’s revenue it is necessary to use every possible marketing technique available out right. Internet marketing has proved its capacity in grooming many businesses from startups to well-established concerns. Thus when you encounter any of these signs in your tenure, utilizing internet marketing as a life boat will definitely be beneficial.