How Digital Skills Can Improve Your Return On Investment
The relationship between businesses and their target customers has changed irreversibly. Buyers are more self-educated and autonomous than ever, and as a result, are less susceptible to the hard sell and one-sided marketing messages to which many organizations have been accustomed.
The impact of traditional sales and marketing techniques continues to dilute as buyers turn towards a variety of digital channels to inform their final purchase decision. 70% of the buyer’s journey is complete before a buyer even reaches out to sales, as they prioritize consuming online content such as webinars, blog articles and short-form video over subjecting themselves to a sales pitch.
2/3 of revenue growth from consumers and advertising will be digital by 2018
As the balance of power continues to tip in the buyer’s favour, organizations can often struggle to generate the requisite revenue. Social media and search engines present an abundance of options to a potential purchaser, which can act as a great equalizer for an organization and its competitors.
HOW DIGITAL SKILLS CAN IMPROVE YOUR RETURN ON INVESTMENT
How can you differentiate your organization from the competition and improve your ROI in the process? The answer is simple. Did you know that two thirds of revenue growth from consumers and advertising will be digital by 2018? Comprehensive digital skills training will enable you to generate higher quality leads, increase conversions, and maximize profits while minimizing expenditure.
We’ve outlined the key reasons why digital skills can improve your return on investment below:
With digital skills, you can increase brand awareness
Digital has made it easier for organizations to engage immediately and effectively, across a variety of channels, from informative emails, to social media. Adopting the digital channels of your target buyers’ choice will gain your brand valuable visibility and enable you to showcase its unique benefits to a more amenable audience, with whom you can nurture a relationship based on efficient responses, the provision of value, and trust. The greater your organization’s reach, the larger your potential customer base, and the more likely it will be to maximize ROI.
With digital skills, you can target relevant customers
Digital marketing is a uniquely data-driven specialism, that can provide your organization with detailed insights that can increase the effectiveness of your sales and marketing strategies. Whether it’s a segmented subscriber list for email marketing, or the enhanced targeting options available for social media advertising, if you can leverage digital tools and channels to direct your marketing messages at the most relevant customers at the optimal time, you’ll be able to increase engagement levels and ultimately drive more sales.
With digital skills, you can reduce expenses
If you choose to invest in digital tools and techniques, rather than traditional outbound marketing methods, your organization can save an average of $20,000 per year. For many marketers, the greatest obstacle to effective lead and revenue generation is a lack of resources, particularly budget. Because digital marketing is targeted, specific and highly measurable, the costs involved in adjusting a digital marketing campaign are significantly lower than those required to amend a traditional marketing campaign.
With a comprehensive digital skillset, your organization can easily implement cost effective strategies and maximize ROI.
With digital skills, you can capitalize on a profitable specialism
Digital marketing is a proven revenue generator, a fact that is incentivizing a growing number of organizations to undergo digital transformation. There is an unmistakable correlation between high revenue growth and businesses who hold a positive attitude towards the adoption of digital. Email marketing, for example, has twice as high an ROI than cold calling, networking or trade shows. Social media also has a 100% higher lead-to-close rate than traditional outbound marketing.
Digital can help you to optimize your sales and marketing approach at every stage of the customer journey. All you need is a strong skillset.
If you really want to maximize your organization’s Return on Investment, a globally recognized and respected qualification will help to advance your skills and enable you to instantly apply your learning in the workplace.
(This article was originally released and published by Digital Marketing Institute (DMI))
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