Think about this for a moment.
One day you wake up one day with an insanely great idea of a product that would create a great impact and add value to people’s life.
Now you want to make your dream happen. You invest tons of money, many sleepless nights and a lot of other things to build that product.
Now it’s ready you're all set to change the world with your revolutionary idea, but now what?
How will people know about it ( definitely your mom and friends are gonna buy it but that won’t make a major impact on the world and your vision.)
It will only happen once your product reaches the people who would be finding it useful.
But how can you do that, there would be very less chances that you're popular like many celebrities or movie stars etc whom the public knows and listens to.
So in this case how will you reach your target audience and let them know about this revolutionary product?
The Answer is Advertising….
Advertising is the fuel of business growth. Starting from the 90's era till now advertising has played a major role in increasing business.
Advertising helps you to reach your audience and delivers your message to your target audience at the right time and at the right place.
Acquiring customers today is really expensive especially when it comes to markets like clothing, footwear, accessories etc where the competition is at its peak and the cost to acquire a customer is really higher than ever before.
And it’s true that if you have a great product then you have to tell everyone about it or else no one would buy it and eventually you will end up with a failed business in hand.
According to Statista's report which shows that the global advertising spending has increased rapidly from 2010 to 2021 to date and will continue to rise.
But Why do Businesses around the globe invest so much in Digital Advertising? There’s no doubt that global advertising is on the rise and out of that major chunk of the advertising spend goes towards digital advertising and with the pandemic hitting it has surged its volume as people started to shop online more often rather than going to shop physically.
According to Wall Street Journal, Digital advertising will account for 64.4% of total advertising in 2021.
And many businesses starting from small and medium scale businesses to large enterprises all of them invest in advertising
So here are the top 5 Reasons why you should invest in Digital Advertising for growing your online store
1. Fastest way to acquire new customers.
Acquiring a new customer is the most difficult task for any business, especially in this new age where customers have the power of choice and that too just a few single clicks away.
With advertising, you can acquire customers with ease, as advertising helps you to put your message and value proposition in front of your target audience.
Which in turn lets your customer think and decide about your product and why they should buy it to add value to their life.
2. Every Rupee spent on Digital advertising is measurable.
The most important thing about digital advertising is that it can be measurable and tracked at every point of a buyer's journey,
With power advertising platforms like Facebook ads, Google tracking of your advertising spending becomes really very easy and convenient.
You can know what’s the cost of acquiring a customer from any channel and then you can decide where you should spend your marketing budget to increase more sales for your online store.
And with Typof Integrating to Facebook and Google ads is pretty easy and fast that you can set up tracking codes in just a few minutes.
3. Keeps your Brand up to date in the Market
Now to demonstrate this example let’s consider the following cases:
Imagine you were sent to a room full of people and your job was to meet everyone and know their name and what they do.
In a day you meet more than 100 people introducing them and talking about them. You did the same for five day where you met more than 500 people.
Out of that 500 people, only 5 people were there who meet with you frequently after that event.
Now based on the situation described above, answer the following question.
Whom would you remember better?
a) The people whom you meet on the day of the event but you never meet again.
b) Those 5 people whom you meet at the event and also frequently meet after the event.
Now your obvious answer would be “b" (Those 5 people whom you meet at the event and also frequently met after the event)
That’s how advertising keeps your brand relevant in front of your target audience and beats your competition out of the park.
4. Cost-Effective than an Advertising medium available to date
Just think of if you would have to go back to the 90s or 80s and had to start a business then what you would be doing to acquire customers for your business.
Let me guess you would probably consider running a radio ad, print ad on newspaper, Billboards etc.
But here’s a catch, all these mediums are really powerful but they are really expensive and measuring their success rate is really very hard.
Running an Ad in a newspaper may cost you lakhs of rupees but might not give you that result that digital advertising can give you with the same advertising spent.
5. Advertising promotes repeat business
With all of the choices consumers are able to make, many once-loyal consumers have strayed from previous businesses in search of other options. Advertising reminds your consumers why they choose your business in the first place and why they should continue to choose you in the future.
So that’s what the power of Digital advertising is. It can create wonders and can be used effectively to scale any business in the world, especially Online stores which highly depend on digital advertising to grow their business and scale.