No matter how big or small, businesses rely on their marketing strategies as these could either make or break their business. Seasoned business owners usually chalk up their success to having a killer marketing strategy that is directed at their target market and caters to specific customer preferences.
This is what makes digital marketing so appealing to businesses—aside from being affordable enough to be utilised by businesses in all shapes and sizes, it also allows small business owners to create marketing strategies that cater directly to their customers. And since it can be done online, it offers a whole new level of convenience for small business owners.
Here’s what business owners should know about digital marketing:
While both digital and traditional marketing are under the ‘marketing sphere’, they are markedly different from each other in terms of platform use, cost and execution. While both have similar end-goals and audience approaches, digital marketing is ideal for small business owners who want to reach their audience and have the same positive feedback with traditional marketing approaches minus the cost of traditional marketing strategies.
With the advent of digital technology and social media, marketing is now easier. Social media platforms such as Instagram, Facebook and Twitter offer business profiles for small businesses which can be used to promote products, increase customer engagement and allow customers to purchase products directly on the platform completely free of charge.
To know about what social media marketing is and how digital and tradional marketing working together, learn more here.
One of the most glaring advantages of digital marketing, as far as small businesses are concerned, is its ability to gain a lot of traction and create exposure for the business without the hefty cost. Online marketing is more convenient as compared to traditional marketing methods as almost everything can now be done in front of a computer plus internet connection. With the multitude of people on the internet nowadays, it’s also easier for businesses to find buyers for their products and services and create a loyal customer base.
But just like everything else, digital marketing also has its own set of disadvantages. If business owners want to maximise the effect of incorporating digital marketing into their marketing strategies, these disadvantages should not be ignored. Some of the cons of digital marketing may include its time-consuming quality (especially on social media management), the risk of reputational damage and a marked difficulty in the quantification of business returns.
Read more about its pros and cons here.
Majority of business owners would definitely argue that marketing is not just part of the business—it is the business. Marketing strategies can either make or break a business and an excellent product or service would be practically useless if a similarly excellent marketing strategy is not put in place.
For small businesses, engaging themselves in digital marketing is beneficial. These benefits can be anything from opportunities to network with other businesses in their field, a boost in product sales, an increase in customer engagement whether online or offline and a good business reputation among competitors and audiences.
Click here to find out why small businesses need digital marketing and all of the benefits that it offers.
Due to the convenience and affordability of digital marketing strategies, small business owners don’t have to worry about building an effective marketing strategy sans the large budget. Digital marketing encourages small business owners to get creative in implementing their strategies without having to worry about the cost—almost all digital marketing platforms are free of charge.
Examples of digital marketing strategies that are effective and affordable include social media campaigns, search engine optimisation (SEO), website building and graphic design. Knowing what kind of strategies to apply to your business and its audience is important when making these strategies work to your business’ advantage.
Read more about these inexpensive online marketing tips for small businesses here.
Small business owners have to know exactly what kind of digital marketing strategy should they use for their business to grow, flourish and become a frontrunner in its field or industry. As digital marketing changed the notion that ‘marketing strategies are exclusive for big businesses’, small business owners are now allowed to make themselves known to a wider audience—creating a level playing field between big and small business owners.
There are a lot of tips and tricks that can be used by small business owners to increase the visibility of their business. However, these strategies must be tailor-made in accordance to the specific needs and preferences of their target market. Business owners are also encouraged to get out of their comfort zones and deviate from solely relying on digital strategies by thinking ‘out-of-the-box’.
Before incorporating digital marketing into your business’ overall marketing strategy, business owners must first take note of some of the most common marketing mistakes that occur in their specific industry. Some of these mistakes can be so commonplace yet so fatal that a lot of businesses can fall into these traps, sometimes making businesses unable to recover—or worse, go bankrupt.
Some of the most common mistakes in marketing through digital that small business owners should be wary of include failing to do proper market research, developing marketing techniques that are not backed by SEO, targeting the wrong audience and failing to build a solid online presence via social media interaction and website promotion.
Learn more about these common digital marketing mistakes here.