How Digital Marketing Can Help Boost Your Small Business
Small businesses now stand a fighting chance against larger businesses and corporations when it comes to marketing. In the past, small businesses were often at a disadvantage: they had fewer resources; their loyal customers were few, and most were relatively unknown by that outside of a business owner’s network and those outside their area. Because of this, it’s no surprise that failed marketing plans are one of the reasons small businesses usually fail.
But now the future is here, and it is digital. Digital marketing evens the marketing playing field for all types of businesses, and here are a few reasons why a good digital marketing strategy can greatly help small businesses today.
In digital marketing, visibility is key to generating leads. And despite the larger competitors, a small business with a good digital marketing strategy is likely to step into the spotlight and generate leads through various means.
For those unaware of what this is, leads are the point when a user on the internet starts to look like a potential customer because they’ve taken one step closer to making a sale. Let’s say that a thousand people visit your website every day, but none of them lead to a sale. The endgame of digital marketing is that you make a sale, so these numbers aren’t very good.
Leads are when, out of those thousand users, one subscribes to your newsletter, another creates an account, and third sends an inquiry email for your products and services. These three indicate that they aren’t just like the other 997 users that are just browsing, but are actually interested in making a sale.
Small businesses were initially limited to leads within their area or network. But when they becomes visible to their target audience online, the number of leads can start to grow even outside your network.
Expand Network with Ecommerce
Small businesses in the past were limited to their target customers within a certain area. For example, if you opened a shop in City X, you wouldn’t be focusing on potential customers in City Y because a) you’re likely too far for them to pique their interest; and b) you’re busy trying to out-do your competition in City X.
Thanks to digital marketing and the innovation of logistics and courier companies, however, e-commerce now allows certain businesses to reach a global marketplace with digital marketing for e-commerce. Not all small businesses are appropriate for a global audience, but the ones that are can maximize their earning potential and reach out to customers that can’t find what they need with the competitors that are in their area.
Cost-Efficient Marketing Strategy
Through digital marketing strategies like PPC advertising, social media ads, and SEO, you’re actually being cost-efficient about who you’re trying to target.
Think of it this way: remember all those traditional print methods used to market or advertise a business? When handing out flyers on the street, what are the chances that the people you hand flyers to are actually part of your target market or are remotely interested in your business? Or, when you pay for billboard advertising, what’s to say how many people are moved by your billboard to become a lead so that you can say that the billboard has a return on investment?
Digital marketing, on the other hand, provides a more cost-efficient way of marketing. For example, social media advertising allows you to pinpoint your target audience, so if your target market is a certain age, gender, or lifestyle, you can choose to focus your ads on those more likely to do business with you instead of blindly spending your marketing budget advertising to everyone.
Compete with Bigger Businesses
The biggest disadvantage smaller businesses have against bigger businesses and corporations is that they don’t have an arsenal of high-end tools and more resources to promote their product or service. In the past, this has meant larger businesses have always been in the spotlight. But in digital marketing, it all depends on your strategy for your business to get noticed and make sales, regardless of your business’ size.
Yes, having some tools can be beneficial towards your digital marketing strategy, but money and big marketing budgets will never trump creativity and a good strategy. In short: you can’t just throw money at a digital marketing strategy to make it the best. If you’re working with a creative and skilled team, there is a chance of stepping into the spotlight.
As the future is turning everything digital, it’s important for small businesses to keep up and stay relevant on a growing platform where most of their target audiences are. With a good digital marketing strategy, it is possible to grow and profit way more than a small business would have without the internet.
Jerry Little | I’m still hoping to have a nephew named Stuart, because how fun would that be? I’m a freelance writer, and my interest ranges from the hottest chili in the world to the ergonomics of a good office chair. My most recent accomplishment: I took a selfie.