The world is going digital, and so is advertising. As more and more businesses switch to digital media for their professional activities, their target audiences must be engaged digitally as well. Websites, emails, mobile phones, and social media platforms are the major channels through which advertising is done today.
Unlike traditional advertising, digital advertising helps businesses reach out to a larger consumer base in the most innovative and engaging way possible. Digital advertising has also helped increase market competition, thereby helping consumers get the best products at the best prices. According to analysts at Technavio, the global digital advertising market is poised to grow at a CAGR of more than 12% by 2020.
Going mobile
Smartphones and the internet have changed the way businesses interact with their consumers. Most businesses, regardless of size, have a mobile app in order to provide the best user experience for their consumers, anywhere and at any time. This gives consumers the ability to monitor products and services however they choose too, all through the use of their hand-held device. Convenience and a sense of empowerment ultimately leads to greater conversion rates and more sales.
Targeting the right audience
Most businesses fail to achieve their sales goals because they aren’t targeting the right audience. Digital advertising provides them with the most effective and clear-cut way to determine the appropriate audience and market to them successfully. For example: there are several online platforms dedicated to specific business categories, making it easier for businesses to reach out to the right audience and thereby increase sales in an incredibly cost-effective manner.
Personalizing campaigns and improving ROI
Campaigns play a major role in increasing the chances of success of products and services. Online campaigns make use of localised content and design services that meet the demands of the market. Additionally, these campaigns effectively track and provide data on audience demographics, which allows for improved customization and better product marketing.
Not only do campaigns bring businesses closer to their consumers, they also help paint a picture of who these consumers are and what they want. Digital advertising allows businesses to determine what is working and what isn’t, and thus focus their efforts on the most successful areas. Businesses can also obtain live feedback regarding customer expectations and desired product improvements.
Most importantly, digital advertising requires less investment with a greater return (ROI). This means that businesses can re-route their investments and determine exactly where their money should be spent.
Want to learn more about the market opportunities for digital advertising?
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