Digital marketing has played a massive role in revolutionizing how businesses market their services, and today, every company has online marketing as their top priority. Because of its reach to connect businesses with their target audience and turn businesses into solid brands, digital marketing is the ultimate tool for businesses. As we’re inching towards the end of 2023, we’ve witnessed major transformation and innovation with technology. Driven by technology, digital marketing has seen significant evolution owing to the dynamic nature of the field that has disrupted marketing practices and raised challenges for marketers, which they are trying their best to tackle.
Now combine the ever-evolving digital scene with the growing customer demand, and imagine the pressure digital marketers are susceptible to. Our blog aims to highlight the challenges with digital marketing and emphasize the solutions so that their marketing campaign hits the bullseye.
If you’re a fresh digital marketer navigating the terrains of digital marketing or an established professional adapting to the recent changes, you’re not alone. We’ll walk you through the biggest challenges in digital marketing and ways to overcome them in 2023.
The most important thing that comes into play when planning for digital marketing is the marketing budget, and sure, it can be challenging to allocate a budget and manage that justifies the business revenue and produce results well. Most businesses have a hard time figuring out the optimal budget to give them the freedom to go all guns blazing with their marketing campaign and get their return on investment.
This is where most people falter. Overspending can be detrimental if the profits don’t match up to it, and restricting yourself to a minimum budget can impact the reach of your campaign since you have to cut short ends on specific channels over others. Surely no one would want to let go of online channels that have the potential to generate opportunities.
First and foremost, before deciding on the budget, businesses need clarity on their objectives, target audiences and marketing resources. Once that’s sorted, analyzing past data, competitor performance, and market trends helps create an informed strategy based on budget discussions. The strategic analysis helps marketers clearly envision the marketing channels they must invest in to attain their business goals and KPIs.
Having said that, marketers must be agile as it takes continuous analysis, monitoring and adjustment to ensure that their marketing budget and resources are put to good use.
If a business is a car, then the motivated leads and website traffic are the petrol that runs that car. Hence, a good flow of leads and traffic is the most crucial element to keep a business afloat. Low website traffic and leads equate to insufficient business. Every marketing campaign aims to get as much visibility and secure interested following and leads. But we’ve heard of many horror stories where the campaign with the same strategy is run across multiple channels that fail to connect with the target audience, impacting the leads and traffic. It wastes the marketing resources spent on the campaign and the time and effort gone into it.
To tackle these issues, first, businesses and marketers need to understand that although they’re marketing on the online channel, each channel is unique. Hence, a one size fits all marketing strategy won’t work. What works for X marketing channel won’t work or be as effective for the audience of Y channel.
For instance, if you’re marketing to pull leads on Facebook or Instagram, images and concise content play a huge part, but for a website, it takes much more than just good images and content. You must optimize your website with the best SEO practices to rank on the search engine results.
Return on investment (ROI) is one of the most crucial factors when determining the success of digital marketing campaigns. Measuring the ROI clarifies the budget invested and the return generated post the campaign. To calculate ROI, the specific goal, the KPIs and performance metrics of the camping must be considered. The tricky part is to single out the right metrics for each marketing channel to diligently ROI monitoring and assessment.
Conversion rates, cost per acquisition and cost per lead are among the most viewed metrics for ROI assessment for websites, ads, and social media campaigns. However, marketers shouldn’t overlook brand awareness and engagement. Also, when you run SEO campaigns or content marketing campaigns, the results aren’t immediately produced. To gauge the impact of the campaign, brand awareness, engagement, traffic increase, etc, should be considered. Thus, the strategic way to optimize ROI is to identify the outcome you want from the campaign, and KPIs, conduct A/B tests and monitor campaign performance.
Artificial intelligence has revolutionized the business landscape and is at its full peak today. From providing businesses with invaluable insights, streamlining tasks, allowing customizations, and evolving marketing channels with AI trends, to developing content, AI tools have the power to do it all. But with the rate at which AI is advancing, marketers are having a tough time keeping up and adapting to the latest developments and trends, which leads to them missing out on potential opportunities to leverage AI effectively.
The only way to tackle these issues is to balance AI-driven technologies and human creativity. First, marketers should test, be familiar with the latest AI trends, harness its potential for applications in tasks such as data analysis and predictive modeling, and enhance customer services without completely letting go of the unique individuality and personal touch humans provide. Markets shouldn’t let AI take over them but rather be familiar with it and then use it to maximize the result of their marketing campaign.
In the ever-changing world of digital marketing, new challenges and obstacles are bound to arise. However, the opportunities it brings are also tremendous. Tackling these challenges with a strategic approach and data-driven strategies will enable them to harness the full potential of digital marketing and achieve their objectives. Whether you’re a seasoned professional or a newcomer to digital marketing, you must be prepared to face the challenges and implement the suggested solutions to lead a more effective and impactful digital marketing campaign.
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