In 2023, digital marketing is important for businesses, however small or big, but crucially important for students who want to make a career in marketing. Why and how? In this blog, we discuss the importance of digital marketing for different parts of the economy along the pandemic timeline.
Before we go any further to understand the importance of digital marketing presently, you must learn about the scope of digital marketing in the future.
Scope of Digital Marketing
The beginning of digital marketing can be traced back to the time when search engines and social media became the first preferences of knowledge and interaction for audiences. Ever since the scope and importance of digital marketing have rapidly increased.
Businesses are turning to digital mediums for their branding needs as they see the target audience shift to search engines and social media. More so, with digital marketing, businesses are receiving trackable results, leads, and eventually sales.
Growth in business due to digital marketing has led to more budget allocation for digital marketers which in turn has increased the number of digital marketing jobs. Hence, the scope of digital marketing is ever-evolving and growing exponentially.
There’s one more reason that has led to the growth of digital marketing which we will discuss in the next section.
Bonus tip: If you’re eager to dive deep into the thriving digital marketing industry, explore our blog on the Best Digital Marketing Courses that can be your gateway to a lucrative career in the digital marketing world.
Importance of Digital Marketing Pre and Post Covid-19
While talking about the importance of digital marketing along the pandemic timeline, we must talk about the pre Covid-19, during Covid-19, and post Covid-19 situations.
- Pre Covid-19
Before the pandemic, digital marketing was growing. Awareness and information about digital marketing were spreading but at a slower pace. Very few big brands thought of it as necessary or to increase their global audience. Additionally, unconventional startups were the first ones to explore digital marketing as they had lower marketing budgets.
- During Covid-19
The Covid-19 pandemic truly transformed how businesses carry out operations. With health and safety concerns many businesses opted to virtually market their brands and also take customer interactions online. Right from groceries and medicines to clothing, the world has taken to the internet.
There was a complete digital transformation in business overnight. According to a survey, 59% of these companies accelerated their digital marketing efforts and 66% of them completed digital marketing tasks that previously seemed to be a huge challenge.
- Post Covid-19
Once the pandemic eased and the world started opening up, all brands who chose to market digitally continued to do so. They delivered more results as well and saved on various traditional marketing costs.
In fact, they expanded their digital marketing teams and started hiring more, hence creating a lucrative career opportunity for marketing freshers.
Small businesses in India account for about 95% of the country’s economy. Many of these small to mid-sized companies did not believe in their capabilities when it came to technology during the pandemic but after the pandemic, they chose digital marketing as their priority.
All of this led to an exponential growth in demand for digital marketers from all brands hence making it one of the best career opportunities in 2023. If want to make the most of this amazing opportunity, pursuing an MBA in Digital Marketing can be a promising option for you.
Read on to find out the importance of digital marketing for businesses and students which will compel you to upskill yourself in digital marketing.
Importance of Digital Marketing for Small and Large Businesses
Now that we have understood the scope of digital marketing in India, let us look into why it is important for small and large-sized businesses. The focus for small businesses is brand awareness and development.
A decade ago, due to traditional mediums, marketing was a luxury. The cost for one billboard or distributing samples was high, something, not every business could afford. Nonetheless, digital mediums have enabled all types of businesses with varied budgets or even not budgets, to market their brand on one uniform platform.
Digital marketing efforts require barely any initial investment. This is great for small businesses. Most digital marketing tools offer basic features free of cost. It is up to businesses to make the best use of them. Check out the types of digital marketing tools.
2. High Reach
A simple rule of branding- go wherever your audience is. While understanding the importance of digital marketing, know that majority of your audience is online. Hence, marketing on digital platforms will increase your reach.
With digital marketing, the reach is global. Hence, you can take orders for your product or service from all over the world and it need not be limited to one area. And when you go global, you can still niche your audience to selected individuals. Thus, it’s a win-win.
3. Brand Awareness
Putting your brand out there on search engines like Google, Bing, Yahoo, etc and social media platforms such as Instagram, Twitter, Quora, Facebook, etc will earn you an online reputation that the entire world can see.
You may even check out Sprout Social pricing plans, which will help you stay consistent with your social media efforts.
Digital marketing helps you create awareness of your brand and its USP (Unique Selling Proposition). If a customer has no awareness of your brand then he cannot make a conversion. To tackle this, brand visibility is extremely important. With pay-per-click and other kinds of paid promotions, you can really attract customers to your small business. We recommend this Facebook and Instagram Ads online course to understand some more.
4. Building a Customer Base
Another reason why digital marketing is important for small and large businesses is the customer base. You cannot keep a record for every person that walks in your shop or every customer who might not like your product. CRM and remarketing techniques help build customer bases.
The challenge with small businesses is that one needs to build a customer base. This is based on building a rapport with a strong customer relationship. With CRM tools such as HubSpot and Oracle, you can manage this easily.
The challenges for big businesses are slightly different. They need to retain existing businesses and focus on brand reputation, client retention, and the growth of the business.
5. Brand Image
An established company’s image is everything. The right campaign strategies can make or break a company’s brand image. Through digital marketing, effective campaigns can be designed and the scope of fixing any glitches immediately is there.
Brand image is essential for every business and with digital marketing, you will know about both positive and negative reviews.
6. Measurable Results
With digital marketing, big companies can have real-time measurable results. With this, they can analyze the effectiveness of the campaign and accordingly formulate strategies. Today, the significance of analyzing data is very important to evaluate the effectiveness and success of your campaigns.
The importance of digital marketing is majorly related to the fact that results and metrics are measurable.
7. Increase in ROI
With digital marketing, returns can be unexpectedly high if your campaigns are on the right track. Companies can increase their revenue with digital media by investing in ads and thus, increasing conversions.
The investment in digital media is much lesser than in traditional media and the returns are also higher. Did you know? You can run ads on certain digital platforms for as low as 1$.
8. Retaining Loyal Customers
The main goal of digital marketing for big businesses apart from increasing their business is ensuring that their customer base is loyal and satisfied.
These are reasons enough to indicate that the importance of digital marketing for businesses is crucial and thus, you must consider adopting it for your business. A smart and solution-based option would be to go for digital marketing corporate training.
This training program is customized and provided as per your needs, goals, and requirements.
What is the Importance of Digital Marketing for Freshers and Professionals?
If you’re a student, you may have heard your peers or seniors talking about digital marketing, studying digital marketing courses, or considering a career in digital marketing. This industry has paved its way as a lucrative career opportunity for students and here are a few reasons why.
1. Job Safety
Digital marketers are in demand right now because companies are constantly on the lookout for skilled professionals to handle their expanded digital marketing efforts. Thus, this ensures job safety in such tough pandemic times as well. Digital marketing is not a dying industry and unlike traditional marketing is here to stay longer.
2. Good Income
The demand for digital marketing experts is high but the number of trained professionals is a little low. With high demand and a comparatively lesser supply of skilled individuals, the digital marketing job roles enjoy a good salary trend.
And it’s not even compulsory for you to have a professional degree in it. In-depth knowledge clubbed with a few value-rich internships can get you started!
3. Helps you stay up-to-date
Students can keep up-to-date with various industry trends and today, that’s a necessity. If you’re not in line with the latest demands and trends of the industry, you make find it difficult to stay afloat. And currently, digital marketing is the trend in every industry. Thus, you must learn it.
Must Read: Latest Digital Marketing Trends of 2023
4. Preps You for the Future
The future looks completely digital a decade from now. So the importance of digital marketing is going to expand even more. And to face what’s in store for us, it is important to start preparing from today. The education system has also taken this into consideration and introduced courses like BBA in Digital Marketing for students to start learning this skill from the beginning of their careers.
5. Allows Entrepreneurial Roles
With the new dawn of Digital India, digital marketing is all set to take the forefront. For students who wish to take up entrepreneurship, the stage has been laid. Digital marketing has opened doors to various entrepreneurial opportunities. You can freelance as well. There are multiple benefits of a freelance digital job.
6. Skill Development
Versatility and multi-faceted is what employers are keen on. Thus, it is vital you keep updating yourself with various skills, digital marketing being one of the most important ones.
To get started in digital marketing, IIDE offers 3 significant course options. An Online Digital Marketing Course with guaranteed placements. Next is a professional option for all graduates. The 11-month MBA in Digital Marketing in India for an in-depth approach and managerial skills as well.
Lastly, for learners who want to learn individual digital marketing skills, we have curated short-term certificate courses in digital marketing which range from 2-3 hours to 20 hours.
FAQs – Frequently asked questions
Q. What is the importance of digital marketing in today’s scenario?
Digital marketing is extremely important in today’s day and age. It helps focus on targeted audiences with a global reach, unlike traditional marketing, bringing in high revenue with little investment. It is conversion-led and can easily be monitored. Damage control is also easy with digital marketing.
Q. What is the importance of digital marketing in the tourism industry?
Today’s digital marketing age plays a huge role in the tourism industry. It can help businesses understand consumer behaviour, make customer conversations easier and also enhance their offerings with the aim of maximum customer satisfaction. The marketing efforts can be more targeted with various digital ads and can help identify their customer base.
Q. What is the importance of digital marketing strategies?
Without a digital marketing strategy, you are hitting an arrow in the dark. Businesses today need a digital marketing strategy to guide them in a certain direction. The first step is to identify clear marketing goals. These include increased brand awareness, clicks to the website, and an overall increase in conversions paving the way to customer loyalty.
We recommend that you check out these digital marketing types and strategies for more.
We can safely say that in order to grow your business in today’s time it is absolutely important to make use of digital marketing to take your business on a growth trajectory.
For all business owners, here’s an interesting read on Digital Marketing Strategies, and for students eager to learn digital marketing, here are the potential salary prospects that you must check out.
If you want to read more such interesting case studies, don’t forget to check out our knowledge portal.
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