Mumbai: As the digital landscape continues to evolve, harnessing the power of digital marketing has become an absolute must for every business seeking growth and success. Today's world is experiencing an unprecedented surge in internet users due to greater proliferation. Leveraging digital marketing provides brands with direct access to millions of these internet users, especially in a country like India, where 47 per cent of the population is digitally connected and spends an average of 7 hours 19 minutes every day surfing the internet, as per a 2022 report by Nebula.

Businesses today have numerous online platforms, from websites and social media to email and mobile apps, presenting an unprecedented opportunity to connect with their target audience, elevate brand awareness, drive sales, and propel their brand to new heights. Making the most of these digital channels can result in a staggering revenue increase. A prime example of the same is Flipkart, which reported a 47 per cent increase in its Gross Merchandise Value (GMV) in 2022, thanks to the series of digital marketing campaigns it ran.

Attaining such a growth trajectory often requires a compelling digital marketing strategy, which may initially seem daunting. However, with the right approach and tools, it gets easier than ever. Here are a few tips that can help your business achieve better growth by harnessing the power of digital marketing:

Know Your Goals and Audience

Before starting any digital marketing campaign, you need a clear idea of what you want to achieve and who you want to reach. Your goals should be SMART: specific, measurable, achievable, relevant, and time-bound. For example, you can increase website traffic by 20% in the next three months. According to a survey by Octane Research, the top three digital marketing goals for Indian marketers in 2022 were increasing website traffic (64%), generating leads (58%), and improving brand awareness (54%).

Your audience is the people most likely to be interested in your products or services. You must understand their demographics, preferences, pain points, and online behaviour. You can use tools like Google Analytics, Facebook Insights, or surveys to collect data about your audience and create buyer personas.

Choose the Right Channels and Tactics

Selecting the right digital marketing channels and tactics is akin to choosing the perfect ingredients for a recipe. Just as each ingredient contributes to the overall flavour, your choice of channels and tactics must align with your brand's goals and target audience. You must select your brand's most suitable digital marketing channels and tactics based on your goals and audience. There are many options available, such as:

•    Email Marketing: Send personalised and relevant messages to your subscribers via email. With an average ROI of 122 per cent, email marketing can help you build trust, loyalty, and repeat purchases.
•    Blogging and Podcasting: By creating and distributing valuable and engaging content for your audience through blogging and podcasting, you can establish authority, educate your prospects, and drive traffic to your website, as per a 2021 study by HubSpot, companies that blog get 55% more traffic than those that don’t.
•    Social Media Marketing: Social media users spend an average of two hours and 25 minutes daily on social platforms, a 2022 report by DataReportal states. This highlights the crucial role social media platforms like Facebook, Twitter, Instagram, or LinkedIn can play in a brand’s digital marketing strategy. By connecting to their target audience via social media platforms, businesses can establish a genuine connection with them, which may later be translated into customer loyalty and revenue growth.
•    Influencer Marketing: Influencer Marketing refers to collaborating with renowned personalities and can help boost your credibility, awareness and sales. According to a report by Influencer Marketing Hub, influencer marketing has an average ROI of $5.78 for every $1 spent.
•    Outdoor Advertisement: Using digital screens or billboards in public places like airports, malls, or bus stops to display your ads or messages can help capture attention, increase recall, and drive action. A report on the Global Outdoor Advertising Industry by Global Industry Analysts Inc. indicated that digital media in outdoor advertising is expected to grow at a CAGR of 11 per cent from 2020 to 2026.
•    Affiliate Marketing: Affiliate Marketing refers to paying commissions to other websites or individuals who promote your products or services on their platforms. This tactic can help you expand your reach, generate leads, and increase sales. Data from ‘The State of Affiliate Marketing Benchmark Report 2023’ by Influencer Marketing Hub reveals that affiliate marketing accounts for 15% of all digital media revenue.

Create High-Quality Content

Content is the core of any digital marketing campaign. Create high-quality content that is relevant, useful, engaging, and consistent for your audience. The content should also reflect your brand’s voice. Depending on the channel and tactic you choose, you can create different types of content, such as:

•    Blog posts
•    Podcast episodes
•    E-books
•    Infographics
•    Videos
•    Webinars
•    Case studies
•    Testimonials
•    Social media posts
•    Email newsletters
•    Landing pages
•    Social media ads

Measure and Optimise

The last step in creating a successful digital marketing strategy is to measure and optimise your performance. Tracking and analysing the critical performance metrics indicates how well your business achieves its goals and reaches the audience. Some standard metrics include:

•    Traffic: The number of visitors who come to your website or landing page
•    Engagement: The number of likes, comments, shares, or views your content receives on social media or other platforms
•    Leads: The number of prospects who show interest in your products or services by filling out a form, subscribing to your email list, or downloading your e-book
•    Conversions: The number of leads who become customers by making a purchase, signing up for a trial, or taking another desired action
•    Revenue: The amount of money you generate from your digital marketing campaigns

You can use tools like Google Analytics and Google Search Console to measure and optimise your metrics. Regular tests and experiments can help determine what works best for your brand and audience.

To Sum Up

In the dynamic realm of digital marketing, the possibilities are as vast as the online landscape itself. Armed with a comprehensive understanding of your goals and audience, a well-chosen mix of digital channels and tactics can elevate your brand to unparalleled heights. Remember, the heart of this journey lies in crafting compelling content that resonates with your audience and reflects your brand's essence. As the digital realm constantly evolves, the ability to measure, analyse, and adapt remains crucial in optimising your strategies for continued success. By masterfully navigating these proven strategies and best practices, you possess the key to surviving and thriving in the ever-expanding digital realm, ushering your brand into a future brimming with growth and success.