The internet revolution that took place in the 90s has created many unicorn companies like Google, Amazon and Facebook, ushering the way to online shopping, socializing and interacting. Interestingly, these are the companies that are suffering the least during the COVID-19 economic crisis. As a matter of fact, Amazon is even prospering during these difficult times with its stock AMZN reaching all-time highs! With over $600 billion of products and services sold online in the U.S. alone in 2019, no one can ignore the importance of digital channels.
Even if you are not selling your products online, you must consider digital marketing as a plausible scalable engine of growth for your company. This engine of growth is made of many cylinders, each representing a digital channel. Ideally, you want every channel to be fine-tuned with the others to deliver the most robust and efficient result for your business.
The purpose of your digital marketing strategy is to channel traffic to your website or social media pages, engage your target audience and convert them to leads and sales.
With metrics– and they are very abundant in the digital world– you can track all your steps, optimize them, streamline your processes and affect your key performance indicators (KPIs.)