When you have your own business, it’s common to feel as though cash is flowing out the door at a constant rate, but an equal amount does not appear to be coming in. This is exactly why businesses establish and adhere to strict budgets. Part of developing a business budget is determining where it makes sense to spend money.
A marketing campaign and marketing initiatives cost money, and for some small companies and new start-ups, the expense might be difficult to justify. The clear case to justify this expense is, what is the return on investment? What is sometimes underestimated is how critical marketing is to a business’s success. Therefore, let us explore why companies should invest in digital marketing.
Benefits Of Marketing
Build Brand Awareness
One of the most significant benefits of marketing is that it helps you increase awareness of your company, brand, and services. It allows businesses to communicate with prospective clients and customers. Let’s face it; if you can’t attract clients, you’re not going to make any money.
Increase Sales Revenue
Once you start spreading the word about your services, another benefit of marketing is that sales typically improve. You’re reaching a larger audience; therefore, it’s natural that you’ll be able to generate more revenue.
Boost Site Traffic
If you have a website where your products and services are advertised or sold, you can easily use any means of digital marketing to drive visitors to your platforms. This can result in an increase in the quality and quantity of your incoming traffic.
Get Meaningful Results
Some businesses believe that in order to build a marketing strategy, they must go all out and spend loads of money, but this doesn’t have to be the case. After all, there are numerous cost-effective strategies to market your business online. Also, online activities allow the targeting of a certain audience.
Promote Deals And Promotions
Lastly, marketing helps businesses inform their customers and clients about special deals, promotions, discounts, and new product offerings.
Marketing Strategies For Small Businesses
Establishing a small business marketing strategy is not that difficult. However, the following strategies can assist small businesses in achieving the growth they seek.
While the trial and error may be necessary, businesses should invest in digital marketing as this will generate returns in terms of sales and brand reputation.
Search Engine Optimization
Apart from creating an eye-catching website, search engine optimization (SEO) is the most effective marketing technique for small businesses. SEO is the practice of optimizing your website and content to make it easier for search engines and end-users to find you.
Generally, the higher your Google ranking, the more you can bring traffic and customers to your website. With more than 35% of all traffic originating from local sources, people looking for your services are more likely to find you in search engine results.
Pay-per-click (PPC) advertising enables small businesses to display ads when consumers conduct searches using specific keywords. While this might result in a costly bidding war, local markets are frequently less competitive, and the PPC approach allows you to manage your spending more effectively.
You bid on specific keywords — such as “hvac repair” or ” best plumber near me” — and create ads around them. After that, advertising platforms will employ an algorithm to determine which of your ads to display in search engine result pages (SERPs), considering factors such as keyword relevancy and landing page quality. You get charged each time someone clicks on your ad.
With an estimated 4.3 billion email users by the end of 2023, email marketing is an excellent way to engage your target audience. Indeed, 81% of small businesses regard email as their main technique for lead generation and retention.
Email marketing is the only digital marketing strategy that allows you to develop a personalized relationship with customers and maintain them well beyond their first purchase. You can send customers drip campaigns depending on an action — like signing up for a conference or completing a purchase — or send regular newsletters packed with the company and product updates.
Social Media Marketing
If you want to reach a broader audience and communicate with customers daily, social media is a must-have for small businesses. While it is unlikely to be the primary driver of sales growth, it can assist you in achieving your awareness and branding goals.
A typical user spends 3 hours every day on social media. While it may appear frightening at first, it is critical to avoid becoming too spread out and joining every platform. Concentrate on your target demographic. Where do they spend most of their time? What type of content are they interested in? How can you make the most impact possible?
What should your small business’ marketing strategy be centered on? Content marketing.
It is the process of creating and distributing valuable content to your target audience. It must address their concerns and demands while creatively portraying your business as the solution.
It’s crucial to remember that content marketing is a long-term endeavor. Establishing rapport with your customers and search engines will take time. However, when done properly, content marketing may help your brand establish itself as an industry leader and foster long-lasting relationships with your audience.
Reviews And Ratings
Apart from the content you create, your product or service significantly impacts your online presence. You must be aware that people are leaving reviews about your business and services on sites such as Google, Amazon, and Yelp. This is a positive thing if you’re doing something amazing and providing excellent customer service.
If not, serious effects can arise. You must be proactive in soliciting positive reviews and resolving negative ones. This is not to imply that you should edit reviews to fit your company’s image, but rather that you should make it easy for customers to post organic ratings and respond immediately to bad reviews.
Online Reputation Management
This is one of the digital marketing services you should check out. As with bad reviews, you must be vigilant for negative or malicious search results. Negative search results might drown out positive ones, making it difficult for customers to find, let alone trust, your business.
Reputation management is a broad topic. To simplify, you should absolutely be checking promptly to see what comes up when your company’s name is searched. Ensure that your transactions are honest and customer-friendly, that your content is outstanding, and that you make the most of social media sites and company directory listings. The more good information you can spread about yourself, the better your chances of drowning out the bad noise.
Get Started on Digital Marketing Today
Limited resources and a small budget do not restrict you from implementing a marketing strategy to help your business expand. Creating a small business marketing strategy enables you to have a deeper understanding of your ideal customers in order to address their demands and earn their loyalty.
Only the companies with robust digital marketing teams, employees, or agencies truly take their business to the next level. What is of utmost importance is that you select tried and tested experts to support your cause.
Usually, companies hire a weak candidate that takes on their marketing, and everything is left in shambles, no return is generated and they are left thinking “Well digital marketing was a waste.” We are here to tell you otherwise. Find the best candidate with objective scoring, ensure they have the best practices in place, and it’s a no brainer WIN.
Watchdog Business Tools offers both of these in Scorecards and Audits. Give digital marketing a chance, but only if you do it the right way.
Doing it the right way also mean hiring the right vendors for the job (if you’re considering outsourcing). Read our blog on How Hiring The Wrong Marketing Contractor Can Hurt Your Business