In 2019, Digital Marketing has become an integral part of any small, medium or big businesses. Digital Marketing strategies are quite helpful for small & medium businesses (SMBs) in capturing new leads & market. If you are wondering that how digital marketing is going to help in your business then we have got you covered in this article, 13 Reasons why small businesses need Digital Marketing in 2020.
1. Digital Marketing Levels the Online Playing Field
To promote your business digitally you don’t really have to make huge investments in order to promote your products or services in the digital era of the internet. Days have gone when only big multinational companies (MNCs) used to spend on digital marketing strategies. In fact, when it comes to promoting a business, small & medium scale enterprises (SMEs) do prefer online marketing over traditional one. Digital Marketing empowers small & medium scale businesses to compete against large companies & thus levels the playing field.
Earlier huge manpower & resources were required to perform sales & marketing operations, hence such operations were limited to big companies. Now, digital marketing enables small & medium businesses to operate such operations effectively with limited resources. Now there do exist businesses which do not have any physical stores or branches but serving customers globally by implementing digital marketing strategies. This is one of the major reasons why small businesses need digital marketing.
2. Digital Marketing Is More Cost-Effective than Traditional Marketing
Small businesses often have very little resources and a tight budget. This is one of the reasons why SMEs prefer Digital Marketing, as it provides them with a better and cost-effective marketing option that drives results.
The study conducted by IPOS in collaboration with Google in Hong Kong, reveals that businesses that use Digital Marketing are likely to enjoy 2.8 times more revenue growth than those who do not use the Internet. This is why small businesses need digital marketing as it gives you control over cost & expenses of the company, with digital marketing you can effectively track expenditures and its impact on your business. This is why SMBs do prefer digital marketing these days.
3. Digital Marketing Delivers Conversion
Another important reason why small businesses need digital marketing, just imagine you own a big outlet in one of the biggest malls in your city, you do promotions through newspapers or banners across the city, at the end of the day you realise that you didn’t even make a profit of Rs 10K while you spend over Rs30K on promotions, in such a scenario it would become a tough task for you to recover the cost of operations.
Digital Marketing, on the other hand, focuses on conversion optimization, here you measure success by the percentage of inbound traffic that gets converted into leads, subscribers or sales, depending on the objective of your business. Tools like split-testing (aka A/B test) help you in ensuring the optimum rate of conversion. You can use techniques such as Search Engine Optimization, Social Media Marketing & email marketing, in order to drive traffic to your website that converts into customers.
4. Digital Marketing Helps Generate Better Revenues
Digital Marketing tools are highly automated and help businesses in generating better revenues compared to the offline marketing. Digital Marketing helps you in tracking your expenses & returns on investments (ROI) in an effective manner.
The Google study with IPSOS Hong Kong also confirms why small businesses need digital marketing – as per the study businesses that use Digital Marketing are likely to enjoy 2.8 times more revenue growth than those who do not.
Companies like XIaomi which entered in Indian business in July 2014, became number one smartphone brand as they leveraged internet-based model effectively. It’s proved fact that Digital Marketing enables small & medium businesses (SMBs) to generate better revenue with fewer investments & resources.
5. Digital Marketing Facilitates Interaction with Potential Customers
One of the reasons why businesses prefer digital marketing over traditional marketing is the ability of digital marketing tools to interact with potential customers in real time. Engagement is the key to any form of marketing. How you handle interaction or engagement of your potential customers will determine the success or failure of your business. The article from eMarketer also suggests advantages of leveraging real-time customer data.
A proper analysis of customer engagement points can give you an idea of what your targeted prospective audiences want. This important data will help you in making right moves and information of right action plans as per needs and interests of your prospective customers to provide them a richer experience, developing a healthy relationship with your brand or business and in winning their trust and loyalty that will help in the growth of your business. This is another robust reason to address your query why small businesses need digital marketing.
6. Digital Marketing Caters to the Mobile Consumer
As per google Mobile searches surpassed desktop searches in 2015. The trend is unlikely to change in near future as mobile devices have become a powerful tool over the time & have replaced the need of carrying a laptop for a majority of basic tasks.
In countries like India where prices of internet data & mobile phones have become cheaper over the years, more and more people prefer to explore internet via their mobile devices. We have more mobile devices available in the world than the number of peoples. We have more mobile devices available in the world than the number of peoples.
Now would be the best time for small & medium businesses to set footprints via digital marketing to lure mobile phone-based prospective customers. It is high time to implement digital marketing strategies as it would help small and medium businesses (SMBs) in a long run to stay in the market, this is one of the reasons why small businesses need digital marketing strategies to be implemented as soon as possible.
7. Digital Marketing Builds Brand Reputation
The power of Digital Marketing lies in its ability of enticing prospective customers through various inbound marketing methodologies. Presence of your business in digital space makes it easier for prospective customers to interact with your brand, existing customers are likely to spread good words, provided that you deliver what you promised. It helps your business in developing a better relationship with your prospective clients and earns loyal customers who will return to your website more frequently & interact with your content on regular basis.
Digital Marketing helps businesses in developing a brand, promoting services or products easily. If digital marketing strategies implemented effectively (such as campaigns, contests) by SMEs, it can help in creating brand awareness & brand might get viral & ultimately will help your business in establishing a solid edifice of your brand for years to come. This will prove beneficial for your brand reputation in a longer run, as satisfied customers are likely to spread good words with other people about their experience with your brand, product or service. The brand reputation of your business is likely to go viral as expected, further opening new vistas of opportunities for capturing larger markets and attaining robust business growth.
8. Digital Marketing Provides better ROI for Your Marketing Investments
On the one hand, the cost of implementing traditional marketing channels is too exorbitant to afford for a small & medium business owner and the results received are quite vague and difficult to measure.
On the other hand, digital marketing campaigns can be easily tracked and monitored, results can be immediately checked and measured as soon as targeted audiences submit contact details’ forms, subscribe to a newsletter, download an eBook, or make a purchase.
However, the key to success in Digital marketing is to generate a steady flow of targeted traffic that converts in leads and ultimately into sales. The more your business generates targeted traffic, the faster you can witness your ROI. This is why small businesses need digital marketing.
9. Digital Marketing Earns People’s Trust
The Nielsen Global Online Consumer Survey which witnessed involvement of 25 thousand consumers from over 50+ countries, 90 percent of respondents claimed they would trust information about a particular brand, product or service if the data comes from people they know.
Why small businesses need digital marketing because it leverages on social media signals, social media listening and testimonials from customers who had purchased or availed of a product or service marketed by a business or brand. Reliable social signals can generate higher trust rate from targeted audiences.
10. Digital Marketing Makes You Ready for the IoT
The “Internet of things” (IoT) is an ecosystem of interconnected devices such as smartphones, wearable gadgets such as Fitbit, home assistant devices such as Google home and Alexa, and many more appliances – connected with each other through the internet. Various reports suggest that the numbers of IoT devices are likely to explode in years to come. Digital Marketing will help your business to adapt to these changes and to sync with the latest developments in the market of Internet of things.
11. Digital Marketing Lures People to Take Favorable Action
Another major reason why small businesses need digital marketing – because Digital Marketing has the power to lure your prospective customers to take favorable action towards your brand or business. In fact, the whole concept of Inbound Marketing is based on the actions initiated by potential customers. Digital Marketing enables you to create campaigns for different personas of your potential clients & lure them to take a Call-To-Action.
A Call-To-Action is inserted in your web page to entice visitors to take a favorable action. A strong Call-To-Action compels a visitor to take actions on your web page such as – to sign up a newsletter, download something, call or buy something. Call-To-Actions are optimized in such a way to ensure that maximum favorable actions are taken by visitors on your website.
12. Digital Marketing Ensures Business Survival Online
In brick-and-mortar business model entrepreneurs often face common issue of irrelevant footfall of visitors who would enter your store, will be skimming through your products and then leaving without purchasing anything. Such types of irrelevant visits likely to waste your resources and only a few percentages of visitors get converted into customers. In the worst scenario, if relevant visitors do not visit your offline store, you won’t be able to sustain your business for a long tenure.
Unlike traditional marketing approaches – why small businesses need digital marketing because digital marketing helps you in targeting the relevant traffic and If digital marketing strategies implemented well, you will make good returns on investments (ROI) for your business. As it makes survival of a business quite smooth – this is why small businesses need digital marketing.
13. The Marketing Ecosystem Is Changing Rapidly, Stay Ahead In Business
The habits of people are changing gradually, earlier TVs & newspapers used to be the only few of the sources of news, information & entertainment; now the Internet is ruling in almost all spheres of life. People spend a major part of their daily life online. Earlier people only used to type in a search engine to search about anything, now you can even use your voice to search for anything on google. In fact, a few speculations in the market also suggest that by 2020 – 50% of the internet users will use voice search to search for things online. Governments are also working on infrastructure to ensure better connectivity of internet through the length & breadth of the country.
But did you notice that what’s common among all these developments?
Yes, countries & people are getting ready to embrace these digital changes, but are you ready? Do you have a social media presence? Do you have a website? Are you implementing digital marketing strategies to stay ahead in business? If your answer is in negative to any of these questions, then you are definitely going to have a tough time with your business in years to come.
Do work on a digital strategy for your business or brand, if you want to stay ahead of your competitors. Leverage the power of Digital Marketing to make a brand & win loyal customers. If implemented, Digital Marketing strategies for SMEs will help your business in staying ahead of your competitors. By now you must be convinced why small businesses need digital marketing – it’s time for you to Take a smart move now & lead in the market.
If you want us to help in developing an effective strategy for your business or still not convinced on why small businesses need digital marketing, then experts of dcrew.in will be more than happy to help you. Get in touch with us