How Digital Marketing Is Transforming The Global Retail Framework
If you're still at school or already working, you probably heard the words "digital marketing" many times than one, and you probably have an inkling idea of what it is and what it does.
Digital marketing is defined as the same as marketing; it is just a specified branch of marketing that focuses more on digital and anything relating to promotions executed through the use of the internet. In short, digital marketing is the promotion of products and services on online platforms to reach a larger audience.
Digital marketing drastically took off when the internet was invented, and from then on, it has become a staple in the world of retail because of how effective various digital marketing strategies are these days. Now that the pandemic crisis has made massive changes across the globe, how is digital marketing transforming retail?
Boosts Brand Awareness More Efficiently
Posters outside stores are not much effective these days, especially since the beginning of Covid-19, people are less likely to visit physical stores. The most significant factor for a retail business to thrive is getting known by consumers. Without brand awareness, you cannot generate leads, and no leads generated results in zero profit. That's sad when you're in the retail industry because your primary goal is to earn a profit; that is why you are selling!
The use of digital marketing when you're in retail is an advantage to boost brand awareness and gain online visibility. You may still sell without touching the internet, but let's be honest, the best way to earn when you have a business in today's time is when you're on the internet. Even when the world is experiencing the peak of Covid-19, how do restaurants and other retail stores sell when the restrictions were high? By the use of online selling.
Provides Better In-store Experience for Customers
Nothing will ever beat the experience of buying from a physical store, no matter how many online shops are popping up. But did you know, through the help of digital marketing, you can improve your customers' in-store experience? Take Uniqlo as an example. Uniqlo is already widely known, but it did not stop them from improving their services with digital marketing. They saw the opportunity to connect with customers through digital marketing by creating a mobile application, so customers are up to date with the latest releases, the current discounts, and how many points they've gained – making the shopping experience more convenient.
Another digital marketing customers use when buying in stores is search engines. Customers use search engines to search for a product and look up reviews before deciding whether or not they need the product. People these days use search engines to look for product recommendations from famous personalities.
In 2021, Google dominated the mobile search market share by 94.88%. Can you imagine how many people from that percentage are active retail buyers? Even if you don't do research, try going to a mall and just observe how people behave when they're inside a store. You will most likely see a customer using their mobile phones when they're in front of the item they want to buy.
A Shift To Mobile Shopping
Did you know that 63% of shopping occurs online? Half of the consumers prefer buying through mobile apps than in-store. Digital marketing has allowed consumers to buy whatever products they want from different stores through online shopping. Hundreds of shopping sites can now be found on the internet, making shopping more convenient. So even if unexpected events occur that will lead to social restrictions, consumers can continue to buy, and businesses can still profit with lesser expenses through digital marketing.
Better Customer Engagement
Internet is everywhere. You only need a mobile phone or any technology that can connect to the internet and poof! You can have access to anything, anywhere, including customer service.
One example of digital marketing that leads to better customer engagements is chatbots on websites. Customers can easily reach out to customer support to inquire about a product or a service and get answers in a few seconds without needing to queue in a long line inside the mall. Chatbots also help companies connect with customers faster and more efficiently. Aside from chatbots on the website, we also have email. Email is an effective digital marketing strategy widely used by companies, as it helps build stronger connections that will eventually generate leads.
Conclusion
The global retail framework has evolved dramatically during the peak of the digital age. If you observe the industry, you will notice just how much digital marketing has changed the rules of retail. Traditional marketing will always remain, but as the world continues to change, we have to adapt to the changes to avoid getting left out. Digital marketing may be a complex concept, but the more you understand it, the better the money flows with your business.
