Have you ever struggled in meeting your monthlyand weekly sales goals because of the competition in mainstream marketingchannels?
Selling something is not an easy task because youhave to convince people that you are providing reliable solutions to them, andthey must trust your brand and take desirable actions of your choice.
There is enormous research done on how to sellstuff. If you are a good salesman, then you can make a fortune for yourself.
Thanks to the evolution of digital mediums andthe internet, the way we interact with each other and perceive informationaround us has changed drastically.
Now, your ideal consumer might not be reading thenewspaper in the back seat while stuck at traffic. Today, the perfect customermight be listening to a podcast or surfing the Instagram stories in their freetime.
There are so many tools and channels that we areexposed to right now that give us an enormous amount of content each day.
That being said, marketers have got an excellentopportunity to interact with their customers in a more personalized way in thisdigital age.
But all those people who want to try digitalmarketing for their business or want to build a career as an online marketermust know the scope of the industry.
Meanwhile, there have been people claiming thatdays of digital marketing are over, and we have reached the saturation point inthis market.
Being an experienced individual in the marketingand sales industry, I have been practicing digital and mainstream marketing parallelly,and I would say that digital marketing days are not over at all.
The old school digital marketing has become arefined platform and evolved over the years. I’m going to discuss the scope ofdigital marketing below.
But before we dive into that, let’s do a briefintroduction about digital marketing activity.
What is Digital Marketing
In a nutshell, digital marketing is the activityof promoting products and services by using digital technologies, mostly theinternet.
We have got social media, search engines, emails,PPC, and several categories and subcategories of digital marketing to promoteproducts and make money.
When it comes to the scope of this particularindustry, it is going to be excellent.
Below are the reasons why I think that digitalmarketing is going to thrive in the coming time.
Internet Consumption is Increasing
Imagine what would happen if the internet is gonetomorrow? How would the human race do the day-to-day task if they find out theInternet is no longer available to them.
This could be a nightmare for so many peoplebecause the internet is the driving force cause of them.
The internet has changed the lives of millions ofpeople in so many areas of life, be it professional or personal.
The internet holds a significant place in ourroutine tasks whether you want to close a business deal through a videoconference, manage a team remotely or talk with your loved ones face-to-face,internet connectivity is required.
The internet speed provided by the serviceproviders is also increasing each passing day. Since the demand of the internetis increasing, people are used to having excellent internet speed todaycompared to what they used to add a decade ago.
As shown in the graph on Statista, between 2007 to 2017, the average internet speed in the UnitedStates has a massive growth.
In the 3rd quarter of 2007, the average internetspeed in the U.S. was 3.6 Mbps, and in the 1st quarter of 2017, internet speedrose to almost 19 Mbps.
With the growth in average internet speed, thenumber of Internet users is also growing, see the graph below.
That means brands can get more people coveredthrough digital platforms.
The percentage at which the average internetspeed in the United States has increased shows the requirement of the data.
That being said, please check the below graph tosee the rise of the number of broadband subscriptions per 100 users indifferent countries in the last few years.
The graph explains that more people can affordinternet connectivity.
Therefore, digital marketers have a vastpotential to maximize their customer reach thanks to more popularity and usageof the internet.
As per Google, U.S. residents spend 40% more time using the internet compared to watching TV. That means the TVcommercials and advertisements might not generate desired results it usedbecause fewer customers are there to see the ad.
Since the internet drives most of the digitalmarketing channels, your potential audience grows exponentially; therefore,your marketing efforts will result in great results and higher ROI in thecoming time.
Mobile is The Driving Force
Have you ever had the struggle to get moreengagement and acquiring more customers for your business? The number of salesyou made throughout a year is going to determine how successful your companyhas done business in the given time.
However, marketers and sales executives whostruggle to get more sales online or offline usually miss fundamentalcharacteristics of being a good marketer.
According to my personal experience, to succeedin sales and marketing activities, you must understand where people areinvesting their attention and in what actions they are focusing their energiesevery day.
Because you are trying to sell something toprospects. Now the prospects are not using the channels you are using forpersuasion, then your efforts will give no profits.
You need to identify which devices, tools, andchannels your targeted prospects are spending their time in to pitch yourproducts.
Due to technological advancements in today’sworld, mobile phones have become a driving force behind most of the tasks.
Gone are the days when mobile phones were onlyresponsible for a mode of communication. Earlier, people used to have mobilejust for making calls and send text messages.
Today, old school mobile with and physicalkeyboards are almost extinct as most of the people have touchscreen smartphonesthese days.
Android and iOS have radically revolutionized thesmartphone industry and allowed manufacturers to sell more devices but alsoenable people to have an excellent tool and their disposal.
Smartphones have been aggressively used forentertainment, logistics, bill payments, internet accessibility, emails, socialmedia, and multimedia content consumption.
Today, emails and social media accounts have beenmajorly accessed by people through smartphones. 52.2% of all web traffic came from smartphones in 2018.
In 2018, U.S. adults were spending an average of 3 hours and 28minutes per day usingsmartphones. That’s almost 8% of total time on a given day!
User behavior is also responsible for the way people work in today’s world. Thanks to the rising gig economy, people have to be online all the time and be accountable for responding to customers and companies for daily work.
Since smartphones provide flexibility andportability, people stay online through a smartphone that gives a tremendousopportunity for advertisers and organizations to pursue customers through variousmodes of digital channels.
The advertisement which you are broadcasting forsocial media platform can be instantly consumed by the people who areincreasingly using that particular social media channel.
Millennials are also using email applications intheir smartphones, and therefore, they would instantly read your emailers onmobile.
Digital Ad Revenues are Increasing
The revenue can only determine the rise of anyindustry it is generating.
Have you ever invested in a particular businessactivity that is not generating any results consistently? Well, you can investfunds for a short period to experiment that specific channel.
However, if you see that that particular channelis not giving positive results constantly over time, you will stop investingthem.
Similarly, the returns generated by digitaladvertisements skyrocketed in recent times that show the scope of the goldenera of digital ads.
As far as organic marketing is concerned, likesocial media and search engine optimization, the return on investment isstaggering. SEO and social media are free platforms, and you can unbiasedlyshare content online these days.
If you manage to target the right people online,they would not only become your consumers but become lifelong fans of yourbrand; and become advertisers, and promoters, and flag bearers of your company.
Because if someone likes the content of yourchannel, they will share it with their friends as well.
Therefore, if your digital marketing campaignswere able to give lasting user experience, you can have great word of mouthmarketing benefits and have high returns from your marketing perspective.
This ripple effect created by digital marketingmakes it a thriving platform for brands and ensures the excellent scope ofdigital marketing.
Time Spent on Social Media is Increasing
The way people utilize their time online, says it is a lot about their behavior and the scope of digital marketing.
So many people use social media to get newsaround the world. Millennials say that social media platforms are the firstthing they check first thing in the morning before anything else.
The average time spent on social media platformsis also increasing with each passing day.
Therefore, it might happen that your idealcustomer would be browsing Instagram stories instead of reading youradvertising pamphlets, flyers, brochures, etc.
People check social media platforms beforeinteracting with a brand. Some social media users are influenced by thelifestyle of micro and macro influencers and take their consideration seriouslybefore making any purchasing decisions.
It is not overstating it to say that there aretoo many people online who could not live with social media platforms.
Women are the prominent user base of social mediaplatforms. Around 60% of users of Facebook and Instagram combined are women.This is the crucial user number that shows the scope of digital marketing.
In a usual household, a woman who could be a mom,wife, daughter, sister, makes shoppings decisions and bring groceries at home.So, you can say that they influence their members’ buying decisions toodirectly or indirectly.
Their dominance of social media usage indicatesthat digital marketing has massive potential because decision-makers ofhouseholds are consuming these channels heavily.
60% of the social media users are saying they arealways connected with the web. (Source)
That means your flex banner or billboard mightcompletely go unnoticed to your ideal consumers because the consumers might bebusy in social media feeds.
When asked about why they spend time on socialmedia, below are the top priorities of people who are being active on socialmedia platforms.
The top four priorities are staying up to datewith the events, finding entertaining content, kill their time, and gettingupdated about what their friends are doing.
These objectives represent the underlying psycheof any human individual. They always want to feed information in their minds,and social media is allowing them to do so.
This will help digital marketers and brands topursue their customers and scale their businesses to social media and digitalplatforms like no other.
Brands Proactively Shifting to Digital Marketing
Brands and Organisations have understood the power of digital transformation, and therefore, they are investing heavily in digital platforms instead of mainstream media.
In 2017, the CEO of Adidas said that Adidas would step away from the TV commercials by shifting their promotional activities more ondigital platforms and aspiring eCommerce sales.
The involvement of such big brands clearly saysthe scope of digital marketing in the next time.
When it comes to small to medium-sizedbusinesses, social media is their favorite choice. 96%of companies say that they are investing in social media marketing. When itcomes to Google ads, for each $1 spent, companies are making $2 in return. (source)
Moreover, worldwide ad spend is also predicted to reach $375billion by 2021. And 70%of online advertisers have accepted that they want to increase their digital adspend thanks to disruptive results they’ve achieved in due time.
Since brands and businesses are aggressivelybetting on digital advertisements, the scope of digital marketing would bethriving in the coming years.
The need for digital analytics, data scientists,marketers, and creative individuals would also rise in the next time to do theheavy lifting for the brands.
Do let me know what your thoughts about the scopeof digital marketing are. Please share your feedback in the comments.