What is Digital Marketing? And why everyone is talking about it?

Many companies in different verticals can benefit from Digital Marketing. According to Statistica, Google process 8.5 billion searches each day as of 2023. Consumer behavior has changed drastically.  When you plan to make a big or small investment, for example buying a car or diamond jewelry. Your first step is researching the Internet because you want to know more about the product through search, social media, reading reviews, and checking ratings.  After researching the product, you visit the physical or online store to make a final decision.  Let's explore a few Industries, where Internet has changed the way, potential consumers reach the conversion stage.

Healthcare Industry – According to Pew Research Center, approximately, 88% of people look online for health information and 70% of people report that the health information they find online influences their decision.  The online presence of doctors, clinics, and hospitals has become essential in reaching their target audience. Credibility is extremely important for the healthcare Industry. If the hospitals or doctors practicing independently have great reviews and testimonials. You trust them more as compared to others. Digital marketing tools can be beneficial in creating awareness and educating patients through reliable sources.

Restaurant Industry – COVID19 had a huge impact on the Restaurant Industry. Many restaurants had to shut down due to the pandemic. Many Restaurants survived due to their online presence.  Digital marketing is valuable in attracting customers and creating awareness. We have been using the Internet to find information about everything and looking for a nearby restaurant is no exception. According to a recent survey, up to 90% of people stated that they research restaurants online before deciding to eat.  This data highlights the importance of digital marketing in engaging current customers and attracting potential customers.

E-commerce Industry -The global e-commerce market is expected to total $6.3 trillion in 2023. The shopping behavior of customers has changed drastically. You can sell or purchase any product from anywhere in the world. Online shopping is more than a trend. For Instance, one fine day, my microwave stopped working. The first thing that I did was search for different brands of microwaves across different e-commerce websites like Amazon, Walmart, Target & BestBuy. Secondly, I read the product details, read the reviews, and then decided to visit the physical store. This is an example of a customer's journey that you as a customer take in different stages of the marketing funnel. This is the time when digital marketing strategies can help you to educate and convert customers. Digital marketing is also very relevant in the loyalty stage.  Email marketing is a great tool to reach the existing customer base. 

Statistics 

 The U.S. e-commerce market will reach over $1.1 trillion in sales in 2023.

Amazon accounts for 37.8% of e-commerce sales, the highest market share of all e-commerce companies

Walmart, eBay, and AliExpress are the most visited e-commerce websites. – Source – Forbes Advisor

If you want your business to grow, then digital marketing strategies should be a significant part of your business objective. You can use different digital marketing strategies like SEO, Social media marketing, Email marketing, Video marketing, Influencer marketing, Affiliate marketing, and Pay Per Click to reach your target audiences. Each digital channel caters to a different type of audience so choosing the right channel can help you in leveraging your online presence.

If you want to know more about other Industries, please let us know in the comments.