With an advancement in technology, the launch of brands is increasing and the existing ones are getting advanced.
In order to compete in the market and survive the cut-throat competition against the fellow startups, it has become very important for these startups to come up with better marketing strategies. According to CB insights, a startup can fail due to a lack of marketing of the product. The optimum utilization of the limited budget that startups have, is an essential factor for reaching out to the customers and generating revenue.
Brands have started using new techniques and strategies of marketing, one of them being Digital Marketing, to boost their growth at a low cost.
Have you ever thought why Digital Marketing is important for the startups?
Digital Marketing is the new trend in current times and is the future of marketing. We can say that Digital Marketing is less costly than traditional marketing and this is because the cost of advertising through televisions, hoardings, billboards are is higher than the cost of advertising through publishing blogs and articles and using other online sources of advertisement.
A number of reasons can be stated showing that Digital Marketing is important for startups:
- Cost effective- With a limited budget, the startups can easily market their products or services through digital marketing. This will prove to be unexpectedly beneficial for new and small startups as will not have enough capital and resource to invest in traditional marketing.
- Increase in customer engagement- The use of digital media, coming up with effective campaigns and strategies will help in engaging more customers with the startup which will lead to an increase in the rate of engagement. An increased rate of engagement will lead to an increase in the rate of conversion.
- Increase in visibility- The idea of launching campaigns and using other digital sources for marketing will not only help the startup in increasing the rate of conversion but will also help in brining new customers. If the new customers will come, they will get aware of the business and in turn they will share and recommend the same to their family members, relatives and friends. This will thus, help in increasing the visibility without putting in lot of efforts.
- Availability of different methods of Digital Marketing- There are a various methods through which one can advertise online. For a new business, it is very essential to set up an attractive and easy-to-use website. Some other important methods that startups can use and benefit themselves are: Search Engine Optimization, Video Marketing, Email Marketing, Content Marketing, Search Engine Marketing, Social Media Marketing, PPC Campaigns and many others. These different methods will cost less and will help in reaching out to the customers.
- Helps in connecting with the audience- Digital Marketing will not just help in marketing the products or services but it will also help in building a relationship with the customers. Developing good and relevant content and coming up with ideas to market the products on online platforms will help in grabbing the attention of the customers. Before grabbing the attention of the customers, it is important to make sure that the interests of the customers are being looked into and then only it will be possible to develop a long-term relationship with the customers.
You can see that these are some of the reasons that reflect why Digital Marketing is important for startups. Thus, setting up a new startup is not easy but it is also not that difficult. Even if you do not have much idea about Digital Marketing, then there are various agencies or companies that offer Digital Marketing services so as to satisfy the business needs of their clients. You can get all the online marketing services at one place, one such company that I am aware of is SWIO Corporate & ITES Private Limited. It is the right time to get advanced with the advanced technologies and adopt the new marketing strategies. Therefore, various reasons reflect that:
Yes, Digital Marketing is a boon to startups!