It is fascinating how digital marketing has grown over the period of last 10 years and we are entering an age where it has become necessary for all the companies to have their presence online. We are seeing a sudden rise in the marketing companies taking work for small and large business to help them grow. Unfortunately there are many parameters that one can show but there is not a single parameter that would work for every business or a goal.
For example recently I saw a digital marketing company advertising itself by showing how it can grow a companies facebook page likes and instagram followers but important part to ask is, increase facebook like is going to increase their business?
There are various parameters and goals that a company should have at different points of time in its lifetime.
Let me discuss each of the point in detail and give you an example for the same.
- Brand awareness
A lot of established companies spend hundreds and thousands of dollars in advertisement not because they are expecting direct sales out of those advertisements but they want their customers to remember their brand and be aware of their services so that whenever they need a similar service, the first thing that comes to their customer’s head is their brand.
2. Improve customer satisfaction
Customer satisfaction would eventually lead to more sales from the same customer and strong brand name as a satisfied customer can market a product better than a billboard or digital media. A lot of companies advertise testimonials of their customers to show what their customers think of their brand due to which people who are not yet their customers can see the brand value and those who already are would be able to relate to those experiences.
3. Market research
Whenever a company wants to introduce a new product in the market or wants to understand which would be the best product to introduce, the first and most important thing is to do the market research. In today’s world where internet has penetrated almost all the countries, there can be no better way to do market research and thus, in such case the goal of a company should be to get as many honest opinion from the market as possible.
4. Increase in revenue
And last but not the least, the thing that keeps any company going. Revenue. Social Media can also be used to increase revenue. Even though this can be fairly difficult as the conversion rate is generally fraction of the reach of the post but some companies go really hard on increasing sales through revenue but in such case, company has to be fairly clear on what would be the parameters of success. Sales or reach of the post.
So next time if you are going to a company for marketing or you are handling a company’s digital marketing, always make sure to see the right matrix for the best results.