Digital Marketing is the new path to be followed in the marketing world. After several years of experiments and innovation, digital marketing has finally come to a point where organizations, especially the small ones can’t afford to ignore it.
Digital Marketing has opened many new avenues to achieve something high and remarkable for small businesses. Not only in marketing but also in tapping the growing number of online audience, digital marketing has its way in everything.
The benefits are uncountable and immeasurable but its impact is so high that more and more businesses are adopting digital marketing as their new tool for online promotion.
If we go by the report, in the US, the majority of the small businesses have already started marketing through digital platforms. Also, it is estimated that the US digital marketing budget will increase to about $332 billion by 2021.
The solid growth and higher ROI has made digital marketing an emerging, effective and impressive marketing tool for small businesses to grow and leave a mark on the online domain.
How did Digital Marketing Pave its way to the Small Business Industry?
For many years, Small Businesses have been using the traditional way of marketing. Majority of these businesses were locally based and their promotional reach was limited due to the high cost in traditional marketing.
One such company we came across is Triumvirate Environmental. This company is a leader in helping small businesses deal with waste disposal and solve environment-related issues.
Recently they got their hands on digital marketing and burned most of their bucks in Google ads. They were surprised at the instant result, easy metrics and humongous reach among all. Slowly but steadily they have integrated to all other platforms like social media, email marketing, inbound marketing, content marketing which delivered a great ROI.
At present, they accredit almost $1.2 million to their digital marketing success.
9 Important Benefits of Digital Marketing
This was just a brief on how digital marketing became a success story for small business industries. Now, it is time to learn more about the benefits of digital marketing for small businesses.
1. Digital Marketing campaigns are cheaper than other marketing platforms
Let’s say you have a Nursery School in an area far away from the city and you want to make people aware of your existence by renting a billboard in a busy area of the city. It is certain that you will get some leads and people will learn about your school but you will burn a hole in your pocket as the cost of the billboard is high.
Now, in digital marketing, you have full control over your budget, place, target audience, time and everything. You can even stop, alter and delete the campaign if your goal is met before your scheduled time. Bonus in digital marketing lies in the metrics of your ad campaign where you can see reach, impression, and engagement of your campaign.
2. Reach the number of audiences you have never thought of
Let’s again take the example of a billboard that you may put in the CBD of your city. You may attract a significant number of eyeballs but the size and relevancy will be much lesser than your digital version.
3. Measuring your analytics has never been easy
Suppose you have sports merchandise, but can you count how many people have visited your store, how many people have purchased your products, how many people have enquired your products, how many people have repurchased your products?
Maybe you can provide a few metrics, but which traditional platform has given you more sales, is it a newspaper, is it a billboard or is it the pamphlets you got distributed outside a nearby college? You can never tell that.
A great advantage of digital marketing is that you can learn which platform got you the highest revenue and ROI on your ad budget. You can also generate the data one requires for analyzing your customer behavior like impression, reach, clicks, conversion, sales, etc.
4. Creativity is the last word to beat the big brands
Small businesses contend on the fact that whatever they do, they will never be able to beat the big brands as they generate a much higher revenue than their smaller counterparts. But the secret of success in digital marketing lies in the creativity of the content. The audience on the internet love creativity and in most cases engage with the ideas which are out of the box or unique in nature.
5. Customer relationship management has just become so easy
To make a business successful, maintaining a stable and healthy relationship with customers is very important. Traditionally it has always been difficult to connect to your customers due to lack of proper mediums.
One of the hectic jobs in business is to handle customer relationship. The emergence of Social Media has changed the way customer relationship is managed. Now a day, earning a loyal customer and retaining the same by keeping them engaged across social media platforms is a matter of great skill.
There is a negative side of it too where the customers’ complaints are addressed and it’s up to the customer relationship management team to fix the issue without leaving any negative footprint on the company’s image.
6. Reach global but stay local
One of the biggest misconceptions about small business is that it has to be local. But, digital marketing has completely refuted this idea and paved the way for small businesses to go global with just a click. This has helped many small businesses do business on a global scale.
7. Be more precise with time
Imagine you could send newspaper only to those who would see your billboard ad and then follow them up with another offer. It sounds quite unusual, right?
In digital marketing, you can fulfill the above goal very easily. People who saw your Google ads can be easily targeted on Facebook with special offers. And you can also send reminders to the same customers through email marketing. You can build a great cycle of customers in digital marketing and utilize them as and when required.
8. Your personal brand makes a huge difference
We have discussed enough regarding the company branding but we should also focus on personal branding. Personal Branding is highly important as clients always want to know who the person is behind their online brand development. Therefore, building a personal brand will greatly help in the success of your business.
9. Nurture your audience till they get converted
It is very important to nurture your audience until they are ready to buy your products or services. Email marketing and SMS marketing is the way to keep your audience engaged with your brand. It is normal that your target audience will take time to learn and make a decision to buy a product of your brand. Hence, it is crucial to keep them engaged with offers, different activities. This way you can psychologically play with your audience’s mind and push them towards the last funnel of conversion.
The advantage of digital marketing is not confined to small businesses. There are many ways through which you can scale up your business through digital marketing. For the last few years, digital marketing has been helping small businesses ascend the success-ladders and those who have still not started reaping the fruits of digital marketing, missing a huge potential for their growth.
Now as you have already learned the benefits of digital marketing for small businesses, what’s stopping you from making the right move?
If you are a novice and want to master digital marketing before implementing your business, learn from the Leader and scale the new high in your business.