Many businesses in North America are still working their way back from the pandemic and wondering what steps they should take next. Industries around the world were hit hard when everyone had to stay indoors, and companies had to close their physical locations during stay-at-home orders.
In the US, 73.1% of surveyed companies stated the pandemic had a moderate or large negative impact on their business. In Canada, small businesses with between 1 to 99 employees said Q1 2020 revenues were down over Q1 2019 by between 48% to 60%.
Companies are looking for the best way forward, but money is tight, so they also want to find the best return on their investment.
One industry that’s done very well during the pandemic is technology. Microsoft Teams saw user counts increase by 475% between Nov. 2019 and Oct. 2020. Internet providers have also seen a big increase in bandwidth use and have been racing to keep up.
In a pandemic world where most people are staying indoors and spending more time online, the place that companies looking to drive more sales want to be is the internet.
How do you get found on the internet? Through strategies like content marketing, search engine optimization, social media marketing, and PPC ads. Businesses that want to stay competitive and get out of the pandemic downturn need to invest in their online marketing strategy.
Why Content & Digital Marketing is Key Right Now
Your website is akin to your storefront and digital marketing is like your physical advertising. People are doing more things online due to COVID-19, so while traffic may be slow outside your physical building, traffic has dramatically increased online. With the right online content, you can take advantage of that.
Why is online marketing so important? Here are a few statistics that tell why:
- Digital inbound marketing costs 62% less per lead than traditional marketing.
- The average ROI for email marketing is 4,400%.
- 43% of traffic to eCommerce sites comes from organic Google searches.
- 74% of online conversion rate optimization efforts increase sales.
While you may be cutting back on spending, one area that increasing it can deliver fast and lasting results is digital marketing.
What’s Involved With Digital Marketing?
Digital marketing is marketing for your business in the virtual world. It involves a number of integrated tactics to get your business found by potential buyers online, drive them to engaging content, and convert them to leads and sales.
The main components of digital marketing are:
- Your Website (optimized for speed & conversions)
- Search Engine Optimization (SEO)
- Social Media Strategy
- Email Marketing
- Pay-per-Click (Google Ads, Facebook Ads, etc.)
When these five components are working together, you can significantly increase online traffic to your site > which increases people contacting you > which leads to sales conversions.
Here are several reasons that digital marketing is vital to business success.
Online Conversions & Purchases Have Increased
Because people are more restricted in where they can go physically due to the pandemic, they are moving most of their product/service searching and purchasing online.
Comparing January 2021 to January 2020, global online transactions were up by 39.7% and conversion rates increased by 40.3%.
Government stimulus payments to people in Canada, the US, and other countries have also been a benefit to businesses and have helped increase online sales.
People Still Need to Live Their Lives and Buy Goods/Services
We’re about a year into the pandemic now and people still have needs for goods and services so they can live their lives.
Only now, many are purchasing those online rather than in person. If your business isn’t one that comes up on the first page of a Google search, then your competitor will get that business instead of you.
Digital Marketing is Lower Cost & Faster Reward Than Offline
Digital marketing has a higher ROI than traditional because it’s generally much lower cost. For example, you can do an email marketing campaign for just a fraction of what mailing postcards out to people will cost.
Digital marketing also gives you a faster reward. When you do print advertising, it’s a long process of sending in your ad, waiting for the publication to come out, and then waiting for people to read it.
On the other hand, putting up a paid Google Ad can get you results within hours of putting the campaign online. Things move faster in the digital world, which means you can pretty much reach people in real time and impact your sales today with a digital strategy.
Put an Affordable Digital Marketing Strategy in Place to In Increase Sales Right Now
Data First Solutions offers expert digital marketing services and we can provide you with a tailored plan designed to generate fast results.