According to statistics, brands that implement digital marketing enjoy 2.8x more revenue growth. As well as a 3.3x higher possibility of expanding their business.
The takeaway? If you’re not leveraging digital marketing to grow your company brand, you’re missing out.
Not only can digital marketing boost your revenue, but it’s also a powerful brand-building tool that can level the playing field between startups and large, established businesses.
Gear up for growth and keep reading to discover how digital marketing can help build your company brand.
Digital Marketing Allows for Enhanced Visibility and Reach
One of the reasons why digital marketing is so powerful for brand building is it allows new businesses enhanced visibility and reach.
In the old days, brands had to claw their way up to a position where their marketing budgets were big enough to deploy far-reaching campaigns. Ads on major TV networks, radio stations, and billboards were expensive. It could take years for a new business to reach the point where it could afford these ad placements.
Thanks to digital marketing, new businesses can leverage the same channels that big brands use for a fraction of the cost.
Currently, the average cost to run a 30-second commercial on a national TV network is $104,700. Production costs can add an extra few thousand onto this. Average CPMs for network television ad placements range between $20-$30.
PPC ads and social media ads have far lower CPMS. The average CPM for Facebook and Instagram ads is under $9. For display ads and search ads, $2 is a standard CPM.
Instead of being confined to channels with a short reach, new brands can gain high levels of visibility quickly. A well-crafted PPC or social media ad campaign can put your brand in front of thousands of eyes within days.
Besides paid ads, you can also leverage inbound marketing methods such as content marketing. These organic methods don’t trigger as fast results as outbound methods. But, they build on themselves over time, compounding your reach and visibility into the future.
Reach and visibility are essential for building brand recognition. The more of your target customers you can reach via multiple channels, the more chance you’ll have to become a top-of-mind brand.
Online Marketing Offers Better Targeting Opportunities
Digital marketing also offers far better targeting opportunities than traditional advertising. With traditional advertising, businesses had to spend thousands of dollars to get their brand in front of new eyes. Many of which weren’t even their target customer.
In contrast, digital advertising allows brands to finely adjust their ad parameters to target people who fit the bill of an ideal lead. This results in less wasted ad spending and lower CPMs. Instead of squandering your advertising budget on people who aren’t interested in your offering, you can focus your efforts on the prospects who are most likely to convert.
It doesn’t matter if 10,000 people see your ad. If only 50 fit your target customer profile, you’re wasting time and money on the wrong viewers.
Paid search and social media ads allow marketers to target their campaigns by multiple criteria, including:
- Household income
If your ideal customer is, for example, a female with a high household income who does yoga, you can target your ads to only show users who fit these criteria.
Digital Marketing Levels the Playing Field
Because digital marketing offers new brands enhanced reach, visibility, and targeting capabilities at affordable costs—it can effectively level the playing field between fledgling businesses and big brands.
Thanks to its low costs and low barriers to entry, digital marketing can allow you to compete with bigger, established businesses right from the get-go.
Digital marketing can also help you achieve employer branding that rivals your competitors. Not only can you secure top-quality leads with digital marketing, but it can also help you secure top-quality talent.
Digital Marketing Gives Your Brand the Chance to Build Credibility and Trust
Inbound, organic digital marketing methods also give new brands an invaluable way to build trust and credibility. You can leverage content marketing to establish yourself as an authority in your niche, build up a social following, and more.
Branding Your Business Online Opens the Door to Two-Way Communication
Speaking of a social following, social media marketing also allows brands to engage in two-way communication with prospects. Most consumers expect brands to respond to social media DMs and comments, but many brands are slow to pick up the stick.
If you can respond to social media messages and comments quicker than the competition, you’ll instantly gain an extra measure of trust from your prospects.
You Can Reach Leads at Any Stage of the Buyer Journey
Another valuable benefit of digital marketing is that it allows brands to target leads at any stage of the buyer journey. Because digital marketing offers far more accurate targeting than traditional marketing, you can tailor your campaigns to perfectly match every stage of the buyer journey.
Instead of being blasted with mismatched marketing efforts at every turn, your prospects will receive exactly what they need when they need it, from guides and comparisons to special offers, retargeted ads, etc.
All of this means that you can better nurture your leads.
Digital Marketing Is Borderless
Are you building an international brand? Digital marketing is almost entirely borderless. You can conduct digital marketing campaigns from anywhere in the world and target them at multiple locations and regions.
Are You Looking to Grow Your Business?
If you want to grow a business and build a brand, digital marketing is a must. Digital marketing can achieve more than traditional methods at a fraction of the cost. It also democratizes the business landscape by allowing smaller, newer brands to compete right alongside established organizations.
Are you in the process of growing a brand? Do you need access to the right talent?
Here at Bradford Jacobs, we offer Marketing Services that help you attract and nurture the best talent for your business needs anywhere in the world. We take the hassle out of remote hiring and talent sourcing.
If you’re in need of top talent, contact us today.