So far we have learnt in our previous blogs that digital marketing is an essential & cost-effective marketing channel for small and medium enterprises to excel in business. Let us see what difference it makes on big corporations where the sales and marketing processes have already been stabilized with successful strategies. No matter what type of company it is – big or small, startup or fully established, there is a need for implementing continuous digital marketing efforts to maintain stable profits. Even for the big companies, it is becoming difficult to reshape their marketing landscapes according to the evolving consumer behavior. It is not just about connecting with the customers and marketing their brands, but now the focus is on how effectively the businesses can interact with the customers.
Let us see why digital marketing has become important aspect for big companies as well.
Ability to interact with the customer
Unlike small and medium businesses where establishing the brand name among the customers is itself a difficult issue, big companies have different kind of challenges when interacting with the customers. They have to focus on multiple marketing channels that can target right audience based on demographics in real time. Despite the heavy budgets allocated to various marketing activities, these firms lack in collaborating various channels according to their growing business needs thus losing the ability to interact with the customer in the right way at the right time.
Even big companies need conversions
Predicting the customer behavior is very tough even for big companies.Sometimes the website may have high rate of incoming traffic which may convert into leads, while in other cases the traffic would be somewhat marginal, simply wasting the entire marketing efforts. Building the brand reputation and generating better revenues depends not only on attracting new customers but also retaining the existing ones by developing a healthy relationship and providing valuable information at the right time when it is expected. A good digital marketing service provider can furnish guidance in a right way to integrate different digital marketing channels such as social media, search engine optimization, email marketing etc into the existing marketing plan, thus making the transition smooth for better business revenues.
Wasting resources through duplication
This may not happen in small companies as they mostly focus on single tool or service provider to perform digital marketing tasks. It is very common in large organizations where one can see different groups of the marketing division spending money on different tools or service providers for their marketing needs. This will not only waste company's resources and time, but definitely slows down the marketing process due to clash between two different strategies. So it is always good to identify company's strategic goals, and employ a good service provider who can understand your business objectives & provide with good strategic planning to make it successful.
Not agile enough for immediate changes
Some large companies are more dynamic, succeed in changing quickly to the rising needs, whereas for others it becomes a biggest challenge. There is a huge uncertainty and volatility in the markets which is becoming crucial for many firms to quickly respond and make changes in their strategies for higher benefits. Big companies are built on legacy where they follow certain classical methods which they always believe being successful. For them being agile is a difficult task and often fail to quickly respond to the changing marketing needs. Lack of agility is making these organizations fall behind the competition, difficult to succeed in the evolving markets, eventually losing on business profits. The constant evolution of digital marketing technology is raising concerns among big firms as they are very slow in changing their business models to bring in latest marketing concepts.
Keywords: Marvist, Marvist Digital Marketing
By: Anitha Rao
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