Top 10 Industries Driving Significant ROI Growth With Digital Marketing
As a business, you need to make a ton of decisions each day. Whether you have knowledge of it or not, digital marketing (or in the least, rudimentary search engine algorithms) influences many of these decisions.
Like any top search engine optimization company would suggest, digital marketing in industries is converting a significant measure ROI in 2019.
Statistics suggest that over 90% of consumers trust word of mouth on digital media and search engine rankings over most other forms of advertisements. Besides, digital marketing lets people channelize their campaigns, build lasting relationships, reach the right audience and optimize their own online branding.
Digital Marketing and the Modern Industry
In the Industry 4.0 (and whatever comes after it), the reliance on conventional marketing will alleviate even further. As we keep seeing it, digital marketing and online advertising are going to dominate a lot of marketing in the coming years as well. A Smart Insights review suggests that over 80% of industries have a well-charted procedure for implementing digital marketing in their business model.
The real question is are industries driving any noticeable ROI changes through digital marketing. The numbers definitely sway toward the affirmative. Most industries are seeing an incoming average of $8 for every $1 spent on digital marketing. However, some industries show a remarkably higher ROI than other industries. Here are some of the top industries generating high ROI through digital marketing.
In its essence, everything that a company executes from networking through the web to client interfacing constitutes digital marketing. It naturally follows that the marketing industry is more than capable of putting to use the digital network of the target audiences and some potential buyers too. It is noteworthy how all this happens within a digital framework.
Different digital marketing techniques offer numerous opportunities for the marketing industries to reap profits. Like most people know, video advertising has been one of the most striking types of networking content. As it turns out, over 60% of advertisers are vehemently using video marketing.
This might come as a surprise for many. But the law industry is making use of digital marketing services to achieve some remarkable success. A Greentarget State of Digital & Content Marketing Survey, 25% of all American law firms have an organized content marketing plan in place.
Most law offices are now emerging blogging hubs as well. That is partly because of the reason that law experts are extremely effective communicators who make a living out of conveying the right messages. They are also extremely skilled at breaking down law into smaller bits and clarifying difficult clauses in common language.
Indeed, a lot of customers that law firms pick are from an incoming stream of curious visitors who seek answers to legal questions. So even when they are not converting with huge amounts of money, the ROI is significantly higher given that most law firms use conventional search engine optimization.
If you were to rank three industries generating maximum ROI through digital marketing, the retail industry would definitely finish in the top rung. The big fishes in retail understandably have expansive digital marketing mechanisms in place. But the fascinating development we’ve observed is how there’s been is plenty of breathing space for a lot of smaller companies as well.
If you’re a retailer dealing in an in-demand and yet micro-niche product, digital marketing is definitely for you. The common thread among all these retailers is the fact that all of them tend to settle customer complaints way before they seem to snowball out of proportion.
How many times have you or someone you know looked up online resources to find information about health conditions? Most of us look at online medicine portals to find essential information. A 2013 Pew Research Center study shows that 77% of web users tend to check for online solutions for health problems.
There’s no denying that specialists are still a very important part of the healthcare equation. But the truth is they have been replaced by the internet when it comes to primary healthcare information seeking. This is one of the prime reasons why digital marketing is so critical for medical professionals.
To start off, we are looking at decent medical websites coupled with online networking. Alongside, simple infographics and informative articles add all the more valuable to a website, helping medical professionals acquire more patients.
Training & Education
Perhaps the biggest low-budget profit reaper of digital marketing is the education and training industry. An online medium like Facebook now enables educators, students, and institutions interact directly with one another. Honestly, this very idea was unimaginable in the pre-social media days. In particular, schools and universities have gone above and beyond in the application of digital media for promotion.
Most colleges and universities use social media platforms to call attention to ongoing campus events. Others use it to drive international student admission campaigns, which is extremely profitable for universities. Then, there are promotions for new education modules and awareness for a range of social issues.
Sample this for a digital marketing fact: one in two educational institutions use digital marketing to raise funds for events.
The automobile industry has historically been dependent on marketing. Given their extensive budgets, automobile companies have used everything from magazine ads to TV commercials and radio shows to newspaper promotions to promote their sizzlers. Recently, (creative!) digital marketing has been one of the most emphatic modes of digital marketing for the automobile industry.
Digital marketing is also saving the automobile industry thousands of marketing dollars compared to conventional marketing. It is like reaching more creatively to the same set of core buyers spending less than half the money. From 2016 till now, automobile digital marketing budget has gone up by at least 35%.
The best thing that’s unfolded for automobile marketers through digital marketing is that they can reach a targeted demographic audience. This is made possible owing to the personal interest collection mechanism available through various digital marketing tools.
All of us adore food of some kind. That is why the restaurant and food industry is increasingly making use of digital channels. Food marketers are telling people how they can get their favorite food at the best possible rates. Imperatively, the marketing campaigns are filled with picture-loaded sumptuousness.
Food marketing on digital media really builds on the emotional connection that people have with food. The outcomes are also noteworthy because people at large feel that the digital marketing industries actually care about the eating preferences of their customers.
The best thing if you are a restaurant owner is that you can quickly construct a food campaign with positive results.
Gossip, trailers, teasers, fan theories and a whole lot of spice-laden speculation – the social media gives the entertainment industry every kind of kick it needs. The best thing is that the production house needs to simply get the ball rolling and fans and content lovers go the rest by themselves.
Digital channels are also helpful when marketers want to plant new ideas in the heads of their followers. All of the resulting figures are neatly tracked with analytics. If needed, campaigns are returned depending on whether they need to reach other demographic groups.
The real estate industry never tires down. And it’s growing even larger. This is because the rural-to-urban influx of population continues to rise further up. Brokers, agents, specialists, property dealers, and engineers explore a range of digital marketing channels to present their properties to their prospects.
In most locations across the world, digital marketing seems to be more profitable for real estate marketers than traditional marketing. It started mostly with estate marketers advertising their properties on Facebook. Facebook continues to be an extremely feasible mode of marketing for internet marketers.
As more and more people are shopping for fashion online, digital marketing becomes of great value for online retailers. Platforms like Instagram, Facebook, Twitter, and Pinterest are fairly rapid about the speed with which they promote stuff online. So within a few seconds, new fashion trends can go out to thousands of viewers.
Smart fashion marketers are also great at using top-of-the-line for marketing campaigns. Plus, they repeat their campaigns across a range of marketing channels to create ample resonance and recall value.
Digital marketing is one of the top game changers when it comes to connecting customers to top brands. Digital marketing also helps you measure and optimize the performance of your marketing campaigns. We could safely project that more industries will reap the benefits of digital marketing going forward from here.
Futran Solutions specializes in delivering composite digital marketing solutions for small and medium enterprises. As applications of digital marketing in business keep evolving, so do the resources that shoulder these needs within an organization. Speak to a Futran Digital Marketing specialist today. Find out how we help you achieve your business and marketing objectives.