If you have a small business you may immediately default to thinking that traditional marketing methods such as printed collateral, local television or radio time are what's needed to effectively market your business. While these methods still hold some merit on a grassroots level, they can require a chunk of your budget that could be better spent on other means of marketing. One avenue that can give you greater reach to your intended audience, and more bang for your buck, is digital marketing. Digital marketing is said to increase sales by as much as 137%. If you're wondering how digital marketing can benefit your small business, here are some key reasons you'll want to keep it at the forefront of your overall marketing strategy.
Connect With People Online
It used to be that when you had a small business, methods such as placing your business ad in a directory, on billboards, and in phone books was the way to go; but that's because they were the only means in which to create any brand awareness all. It's now 2016 and chances are your target audience can be found (easily) on the Internet -- no matter their age, their geographic location or their gender. In fact, it's said that somewhere around 80% of the people in the world have used the internet at one point or another for one reason or another. That means that if you aren't using the internet to promote and market your business, you are missing out on a huge chunk of the consumerism pie. People are not only shopping more and more online these days, they’re really engaging with and connecting with a trusted brand. Entire communities can be generated around a specific brand, which in and of itself, is an extremely valuable marketing tool.
Higher Conversion Rates
Digital marketing allows you to reach your target audience and pinpoint exactly the type(s) of people that would be interested in your product or services. Not only does it allow you to reach your exact target audience, but moreover it can help you to effectively and efficiently determine your strategy based on proven consumer behavior patterns within your specific industry. By utilizing the right tools, you can generate higher conversion rates that equate to increased awareness, brand loyalty, and sales!
Any Capital Level Works
It doesn't matter if you have a small business, a corporate company, or are simply a lifestyle blogger looking to make some extra cash on the side… everyone can afford to do some digital marketing. If your budget is small, make use of tutorials in platforms you intend to use (i.e. social media, WordPress, Google Analytics, etc.) and plan your strategy accordingly. Attending local workshops or events centered around digital marketing is another great place to start. You'll not only learn some beneficial tactics, you'll be able to network and connect with people.
If you have a decent sized budget, consider working with a digital agency. Agencies can help with everything from execution to strategy. They can be an extremely valuable resource for companies that simply don't have the bandwidth or the time to manage their own marketing tactics in-house.
Higher ROI For Cost Per Lead
Recently a study was done by HubSpot that talked about the return on investment in digital media and marketing versus other avenues. Digital marketing was, by in large, at the forefront of the report. In fact, the numbers ran something like this in terms of improved ROI: social media 27% improvement, email marketing 27% improvement, SEO 25% improvement, blogs 24% improvement, etc. All the way down to traditional advertising, which included telemarketing and trade shows – all of which only had a 12% improvement on small businesses ROI's. As you can see by these numbers alone, the playing field fares in favor of digital marketing across the board.