Why Entrepreneurs of 2017 cannot Ignore Digital Advertising
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Successful entrepreneurs are those who are smart at familiarizing the target audience with their business, rather than informing them just about products or services.
Branding is a holistic marketing process which is beyond advertising and sales promotion, but effective advertising is the key to complete advertising. So, what exactly is going to be effective depends upon its cost, reach, acceptance, efficacy, engagement, and impact.
After judging the various advertising options on these parameters, it is easy to infer that in the contemporary age Digital Advertising is the most effective branding tool today.
Entrepreneurship is all about ideas and innovations, and if one sticks to traditional marketing tools only, then one cannot be a real entrepreneur. A business that takes initiatives in adopting novel concepts and technologies leads the market too. At a time when basic phones are replaced by smartphones, newspapers by e-papers, TV shows by social media, ignoring the Digital Advertising can be a costly affair for slow and non-receptive marketers.
Businesses that align present needs of the market with future demands never disappoint their customers.
As every intelligent entrepreneur accepts that investment in advertising is must for modern businesses, especially in the B2C category and without making people aware of the potential benefits of a brand, the marketer can't convince them to buy it.
Digital Advertising is a smart way to connect people's aspiration with real brands, in fact, it helps them manifest brands. Studies claim that a majority of young audience prefers personalized ads that have become much easier to develop and broadcast after the advent of Digital Advertising. And, it is the trio of big data, native advertising and social media that has brought a revolution in personalized advertising.
The unprecedented growth of digital technology, the ubiquitous presence of smartphones and high-speed internet at sufficiently low prices has given a big push to e-commerce.
Amazon, eBay, Flipkart, and Alibaba become the most crowded markets of the 21st century and Facebook, Twitter, LinkedIn, and YouTube are the favorite marketing communication channels for businesses. Among these drastic changes in the global socioeconomic scenario, it is imperative to follow disruptions, lest the time will supersede the trend.
Digital Advertising delivers solutions demanded by the time and people; fast, reliable, convertible, consistent, and cost-effective.
Below are some proven factors which confirm that why Digital Advertising is important for entrepreneurs in the digital age.
To Pursue the Growing Mobile Population
According to the Criteo's latest report, 35 percent of e-Commerce transactions in the USA take place on mobile devices such as smartphones and tablets. India is also inclining rapidly towards online markets as the majority of Indian population is below 35 years of age. Besides, the daily commutation time of the working class has increased significantly, which has reduced their average leisure time, due to this, people are compelled to rely on e-formats for various day to day needs, including e-shopping, e-billing, e-learning, and e-counselling, etc. Hence pursuing these large numbers of potential customers on digital formats is must for almost every entrepreneur in the present time.
To Follow Customers' Lifestyle
Today, no one can deny that the use of traditional media is decreasing gradually among the masses, especially in the urban areas. Every next hand is holding a smart device and people are less concerned about the empty newspaper shelves and availability of their favorite channels on TV. Because everything is available on the Internet and they browse them as per their convenience - time slot is no more bondage. So, businesses too should change their advertising and promotion habits as per the changing habits of their target audience.
To Leverage the Brand on Social Media
The power of content marketing tools, the depth of Big Data, the impact of native advertising, and the credibility of influencers make social media the most interactive and result oriented advertising platform. The population of social media is increasing more speedily than the world population, and every smart brand wants to impress its target audience in a huge galaxy of social media channels. Still, can an entrepreneur dare to ignore the social media?
To Personalized Ad Campaigns
An intelligent marketer doesn't just want to acquire new customers, but beyond it, he/she makes strategies to retain the existing customers and make them loyal towards the brand.
Loyalty demands special treatment and same do the personalized advertising. According to a recent study of Business Insider, marketers all around the world spent $7.9 billion on native advertising in 2016, and the estimated investment in 2018 is $21 billion.
Marketers develop customized content using advanced data analysis to enhance the user experience, and native advertising plays a prominent role in this process. Personalized ad campaigns are almost impossible on non-digital communication a channel, that's why; Digital Advertising should be the top priority of the entrepreneurs to survive and flourish in the growing competition.