In 2023, digital marketing strategies are extremely varied. Online videos, marketing via search engines, paid ads, display ads, and social media posts are all options. Digital marketing is essentially any type of marketing that occurs online. It is contrasted with more traditional marketing methods, such as magazine and television ads, billboards, and direct mail.
As of 2019, at least 75% of Americans went online every day. Since the rise of Covid-19, that number has risen even more. In 2023, digital marketing will be even more important for the success of your business than ever before. Thus, increasing your digital marketing budget will be important this year.
Five Reasons to Budget More for Digital Marketing in 2023
As you plan your digital marketing budget for 2023, consider these reasons for increasing the amount you spend on this crucial activity.
1)More people shop online now than at any other time.
In addition to surfing the internet every day, Americans like to shop online. In 2023 it is expected that the e-commerce industry will reach $5.5 trillion. About three-quarters of American adults shop online, whereas only 50% prefer to shop in a physical store. Of the people who shop online, 41% use their smartphones.
All of these statistics mean that your business will reach more potential customers by having a robust online presence. That makes digital marketing extremely important.
2)You can easily measure the success of your digital marketing strategies.
The success of your digital marketing strategies is easy to learn in real-time. You can get metrics on more traditional marketing strategies. However, this information may take months to acquire. In the digital space, a full understanding of how well your marketing strategies are working can be obtained almost instantaneously.
Having access to more information about the success of your digital marketing means that your budget can be used wisely. Therefore, digital marketing saves you money in the long run.
3)Quality is more important than quantity.
While I may be imploring you to raise your digital marketing budget in 2023, that doesn’t mean you should spend your money on all available options. The best digital marketing strategies are high quality. They target a specific audience and have a reachable goal.
Don’t fall into the trap of thinking more is better. When it comes to digital marketing, you want quality over quantity.
4)Online users expect more.
Quality digital marketing will be personalized to your target audience. At this point in the digital revolution, users are savvy. They expect more from online companies. This means a streamlined user experience and a good mobile setup.
As you saw above, almost 40% of online shoppers use their smartphones to make purchases. Therefore, your digital marketing efforts will need to be optimized for mobile devices as well as desktops. Spending more money on a varied well-rounded digital marketing approach will be well worth the effort and expense.
5)Digital marketing allows you greater specificity in defining your target audience.
Finally, all companies would do well to add more money to their digital marketing budgets in 2023. Since users expect a personalized and streamlined experience, more effort into digital marketing can help you meet their expectations.
Digital marketing provides the opportunity for you to define and reach your target audience with more specificity than ever before. Don’t waste this opportunity. Increase your 2023 digital marketing budget today.