How many of you think that digital marketing is the essence of small scale business at the moment? I am sure most of you don’t have any satisfactory answer to this question.
Studies show that more than 40% small businesses are away from Online marketing and even 60% of business owners have not made any account on social media platforms. This is now a serious concern and if you haven’t yet included this into your business strategy, think again!
You should know that traditional forms of marketing are now diminishing rapidly and digital marketing has overtaken it.
Let me present you some interesting facts and figures about digital marketing, by which, you would easily understand the benefits of digital marketing to a small business.
1. 72% of users have connected with different brands via digital marketing technologies.
2. Around 80 % consumers first use the internet to do their searches regarding the purchase of a product to make it straightforward and convenient.
3. Your conversion rates with digital marketing increases by 25%.
4. More than 70% adults around the world, own smartphones.
5. ROI (Return On Investment) with digital marketing strategy could go up by 300%.
6. By the end of 2020, it is estimated that more than 30 billion gadgets would introduced in the main streamline that means it will be a global online system.
Off course, these figures would probably clear the doubts about the efficiency of digital marketing in your mind and now the below mentioned points are given that will help you, how to achieve business growth by implementing digital marketing strategies for small business.
1. You Can Directly Connect with Your Customers:
No doubt, the primary focus of every business is to reach maximum number of targeted audience but you need to communicate your audience to know about their likes and dislikes. This helps you in revamping your policies in favor of your customers.
Firstly, you have to do some SEO work to rank your website among different search engines like Google and Bing. You can also go for PPC (Paid advertising) to make sure that your website should come first in particular search results across all the search engines.
With the help of digital marketing, you are not only able to visible more and more targeted audience but also it gives you a wonderful opportunity to directly interact with them.
By making your account in various social media sites like Facebook, Twitter, Yelp, you can get essential feedbacks from customers, which help you to improve your business by applying corrective measures.
2. Generates More Revenues:
In a research conducted by IPSOS Hong Kong, it has come out that digital marketing can generate around 2.8 times better revenues for the businesses. This stat is itself telling you that digital marketing can generate higher revenues with more savings on less cost.
Before making a purchasing decision, every consumer generally evaluates at least 6 various touch points such as blogs, social media platforms, direct mail, consumer reviews, email and Google searches.
Studies proved that if consumers get at least 4 touch points from the above mentioned ones, you will able to reach more wider audience. Small scale businesses should implement digital marketing strategy to promote their goods and services.
3. Digital Marketing is Cost Effective:
No doubt, small businesses can pull more benefits with extraordinary conversion rates and leads, if they go digital. Small businesses generally deal with limited budget and they can’t bear high advertising costs.
Digital Marketing comes out as a boon for small business. A study tells that small businesses are generating handsome savings after switching their working modes digitally.
This is why, digital marketing is cost effective to the small business people as they can get quite better results with compressed budget.
4. You Can Track Your Competitors:
Digital Marketing allows you to monitor the steps taken by your competitors. With the help of social listing, you can easily see what your competitors are talking about you, there proceedings and on which social media they are more successful.
Google Alerts and Social Mention can help you to organize social listing in depth.
5. Higher Conversion Rates:
When you reach out more and more targeted audience, possibilities increase to get more positive leads from the healthy interactions, you were engaged with your audience.
If you continuously go with digital marketing strategy, you can get as more as 24% rise in your conversion rates.
6. Enables Real Time Customer Service:
One way communication is the biggest drawbacks in traditional marketing. It created lots of difficulties for the marketers to deal with it. Digital marketing has this benefit to provide you certain online customer service channels, which not only helps you to generate revenues but also allow you to retain your client base.
You can make your customers satisfied by interacting directly with them and know how they react on certain things.
7. You Can Connect with Mobile Customer:
With increase in the penetration of smartphone user’s, digital marketing can help you to tap and track this gigantic market. More than 60% people own a smartphone across the world and mobile marketing can generate upto 34% traffic through organic searches.
8. You Can Go Head to Head with Larger Corporations:
Digital Marketing not only helps you to compete with your audience but you can even go all out with larger corporations having big brand names. Digital Marketing allows you to get innovative and efficient ways on how you can reach out to customers and generate maximum profits.
9. International Exposure:
Digital marketing gives small businesses an opportunity to go global as you know a single digital marketing campaign could be visible across the world. When you get the International exposure, chances are more that you would get maximum revenues by reaching to a large number of audience. You have to take it as a long term investment.
10. Easy to Measure:
Google Analytics is a big boon of Digital Marketing and it has made almost 50% work easier for the small business. You can now get the details of your market reach with in-depth reports of consumer data. When Google Analytics combines with Google AdWords, you can even witness real time analytics which helps you to manage your plans.
Final Words:
I hope, now after getting through this post, you would realize that you can’t ignore the benefits of digital marketing, especially if you are operating a small business. If you want to make your presence in this cut-throat environment, you should have the knowledge of digital marketing.
Yes, no doubt, it will take time to get all the things settled in desired way but it will surely give you results.
Guest article written by: Justin Chan (Digital Strategist) at thecodingbull.com