Since the early 1990s, the world has been on a digital transformation. People, institutions, nations, and everything found a way to establish an identity on digital platforms. However, businesses were the very first entities to adopt digital marketing in their business operations. And today, many businesses stand as success stories that used these platforms to transform their businesses. Businesses whether small or large corporations used the internet to increase their sales, reach more audiences, convey their message, and ultimately create a brand of their name.In this blog, we will discuss the opportunity that adopting digital marketing can bring to small businesses. Having worked with several emerging businesses, we have come to points to say why you should start with digital marketing if you are a small businessman. Let’s start with the basics.
What is digital marketing?
Digital marketing or online marketing is defined as a way of marketing using digital platforms such as mail, social media platforms, web-based channels, and more. The objectives of digital marketing can range from increasing sales, increasing engagement, to informing potential customers about products and services, and more. Digital marketing solved some problems that traditional marketing was not able to. The major of these problems were limited reach, difficulty in measuring marketing efficiency, and the cost inefficiency in running traditional marketing. In a period of 2 decades, digital marketing has been adopted fast by all kinds of businesses. While large businesses can easily continue investing in traditional marketing given their large revenue system, they still adopted digital marketing to advance with the technology. However small businesses struggle with finances in the early years and need to cut costs as much as possible. And in answer digital marketing has proved a boon for them. It not only helps them cut down costs but also has a better marketing efficiency rate.
How is digital marketing beneficial for small businesses?
People starting businesses often have hesitation about digital marketing. They are unsure if their business is small or if it is a start-up, should they consider digital marketing or not. Well, the answer is obvious and straight, it doesn’t matter if your business is small, big, startup, or has been there for a long time. In this new generation of technology and the internet, there is a community for each and everything online.According to a survey by retail dive, 87% of buyers start by searching for a product to buy online. This shows why online is a huge market size in itself and one of the biggest reasons to invest in digital marketing.
“It’s hard to find things that won’t sell online.” – Jeff Bezos, Founder of Amazon
Here are some more reasons and tips for you to start your journey online today!
Your prospects and competitors are both online
As we’ve discussed before, there’s a community for everything in this world of the internet. Your existing or new emerging competitors will be at different stages currently and either on 1 of the below ones:
Already have a hold on the digital community.
Slowly grabbing attention through continuous posting and campaigns.
Have just started their digital journey.
Are still stuck with the traditional way.
While it is obvious for a large group of prospects to be online otherwise what’s the point of discussion. But for all your competitors, it rolls down to who adapts first and fast.The suggestion here is to go digital as soon as possible and be consistent with marketing. The sooner you start the better for your business.
Cut down costs with more results
Another very important reason to consider digital marketing important is the benefit of low costs. Traditional marketing is a time-tested method but it being costly for any business is obvious too. Small businesses take time to have a regular and smooth revenue flow. Also, there’s the additional task of diversifying the same revenue for different tasks. So for marketing to get a huge chunk of share in comparison to other departments is more difficult than seems to be. Here at this point, digital marketing has proven a boon as an economically good option. With considerably more results than traditional marketing, a more informed database, and faster results.
Better insights to measure results
Traditional marketing sold products but how efficiently? It was hard to measure. With digital marketing, this changes. When any business markets its products online, with help of tools they can measure where every penny is being spent. Many businesses today are adopting digital marketing for the tools and efficiency it provides. One can measure the efficiency of the ads run and also every money spent on promoting it. These results help in better ad strategy, better targeting, and overall resulting in a better reach.
Become accessible to every age group
Traditional marketing came with a limited reach. Both in terms of places and types of audience. For example, you are wanting to bring a product into the market that serves all age groups people. You have started with the manufacturing, and now it’s time to let people know about the product. And since your product is for all, how will you target your audience? How can office-going adults and clubhouse-going students be targeted at the same time? Newspaper ads may work for office goers and wall pamphlets for students, but if done separately what about the double costs?And thus here comes digital marketing to target all wanted age groups of people without additional costs. With mobile phones in everyone’s hands now, you can simply target a single ad to a specific audience base without extra cost.
Let customers connect and engage with your brand
The best feature we see in digital marketing is the two-way communication present in it. Traditional marketing did make brands, it flawlessly delivered the messages, and overall made products and services sell. But a thing that somewhat stayed missing was the easy way in which the audience can engage back with the brands. Today on all social media platforms, audiences who are people like you and me can actually reply back to a brand page. We can let them how we feel about their latest product that is to roll out next week or what we did not like about their service. This open channel communication provides businesses in-depth understanding of their own audience. This insight then in turn helps in bettering own products and services. This is much more beneficial for small businesses that may lack the resources to invest much in research and development.
Conclusion: Digital marketing gives you the cost-effective tool to make your own brand
In 2022, a full-fledged business can exist without having a physical office. A brand may touch sales with high figures by spending thousands on digital marketing. A product may become a market hit just on the implementation of audience feedback.Digital marketing is the tool that every business has started using. This saves them time, cost, and effort with improved results. If you are too looking to harvest results from digital marketing, keep a regular follow-up with us as we will bring you interesting insights about digital marketing.