The goal of marketing is to inform as many people as possible about a product or service. Various strategies have been developed over time and they are all aimed at utilising efficiency in time and cost to deliver accurate and effective information. Digital marketing is not only one of the latest but it is also the most efficient and cost effective way to market a product or service.
In recent times, small enterprises have started to adopt digital marketing after witnessing its impact on large businesses. However, small business managers often arrive at a point where they wonder if it is even necessary for their business to tread into digital marketing and how doing so would impact them. As a manager of a small business, here is why your business needs digital marketing:
Digital Marketing Facilitates Equal Opportunities for All Businesses
Just like big corporations, small businesses now have equal chances of reaching customers and making sales on the digital platform. This can be attributed to technology advancements such as the Internet of Things (IoT).
IoT has granted users access to the digital market using various electronic devices such as laptops, tablets, smart televisions and smartphones. Small businesses can now reach their target audience with convenience and cost effectiveness. Small businesses can access the digital market without the need for large investments unlike before. Traditional marketing largely relies on your financial prowess and assets.
It is a Cost Effective Marketing Strategy For Your Business
Small businesses operate on a limited budget. Digital marketing will help you maintain your marketing costs within the budget limits.
A Study by IPOS confirms that small businesses using digital marketing register a revenue growth that is more than twice than businesses without digital marketing.
Digital Marketing Optimises Conversions
Traditional marketing methods such as banners or newspaper advertising struggle to register return on investment. Digital marketing works as a process where traffic to your website or app is converted to leads, sales or even subscribers.
The digital world has developed tools and techniques to ensure that your conversions reach an optimum. An example of a tool to look up is split-testing also known as A/B test. Techniques to optimise conversions include email marketing, content marketing, social media marketing, and search Engine optimisation.
Digital Marketing Has Proved to Facilitate Revenue Increase
Successful conversions end up as sales that register a revenue. The result you get after using digital marketing tools and techniques is an increased revenue. For example, social media helps businesses generate 78% more revenue than businesses that does not use social media.
Small Businesses Can Target Audience with Digital Marketing
Digital marketing helps your business to focus on delivering content to a specific niche. Targeting the specific niche will result in interactions between you and your customer. Digital marketing lets you interact with your customer on a personal level for e.g. through email marketing and direct message chats.
Digital Marketing Facilitates Customer Interactions and Feedback
Your business will be able to engage with customers at low cost and also get the feedback that you need to make future decisions. Amid this interaction, you will also be able to learn market trends and updates. Customer interactions via digital marketing grants your business an effective way to establish your customers’ needs. What’s more, it is a basis for building a relationship with your customers. A strong relationship with your customers will inspire trust and loyalty in your clients, thus, allowing your business to stay ahead of your competitors and generate even more business deals.
Digital Marketing Enables Mobile Access to Your Content
Mobile gadgets such as mobile phones and laptops enable remote access to the content of your small enterprise. These gadgets are dominating the current digital age and culture. Statistics show that the number of mobile phones exceeds the entire global population and in the near future, just about everyone will own a mobile phone. It is vital that you employ digital marketing tools and techniques that will convert mobile users into leads, sales and eventually subscriptions.
Brand reputation is all about customers’ perspective of a brand in your business. Customers can interact with your brand, review it and see what others think via a digital platform. You can develop a brand from information and feedback you collect from your customers on a digital space.
Digital marketing also facilitates ease of promoting your products or services. Your product or service gets more viral as more people get to know it and use it. This results in brand awareness. As you continue to maintain good product and service standards to your clients, you build a good brand reputation.
Digital Marketing Exposes You to Influencer Marketing
Influencer marketing is a type of digital marketing where you enlist the services of an online influencer to create brand awareness. An influencer is someone who has many followers on any digital or social media platform and an influencer’s followers represent a prospective market that your small enterprise can tap into. Influencers use Call-To-Actions to influence positive action towards your brand. What’s more, these followers also have followers and friends to whom they may share information about your brand.
Digital Marketing Ensures that Your Small Business Survives Online
Digital marketing tools and techniques are geared to ensure that web traffic converts into leads, sales or subscriptions. More often than not, the lack of conversions is registered as a failure on the online market because having visitors merely visiting your website is not enough to ensure the survival of your business on the online platform. Hence, having the right digital marketing strategy when using an online platform to market your products or services will ensure that you reach the right people that will generate positive results.
How to Get Started?
People are embracing digital marketing at a rapid rate. Your starting point could be something as simple as running a social media page. From there, you can then go on to build your own website as your brand awareness increases. Dedicate time to study the digital marketing tools and techniques that are available and choose one that works best for your small business.