Digital marketing is a buzzword in today’s business world and why should it not be? It brings a bouquet of benefits with it and more importantly it is suitable, effective and in a way essential now for any business, be it a small business or large. When large businesses generally allot a big marketing budget and digital marketing budget fits in suitably, small businesses often think about whether they should invest in this new-age marketing strategy or not. In today’s blog, I will specially talk about why small businesses should absolutely invest in digital marketing. So let’s get started.
5 REASONS FOR SMALL BUSINESSES TO INVEST IN DIGITAL MARKETING -
To gain customers and build a lasting relationship: As we all are aware the world population is going more and more into digital mediums with every passing day, building your presence is of utmost importance in order to connect to your target market and remain visible to them. Building just a website is not going to help alone unless your potential customers are directed to it for further understanding of your service or product and to finally convert.
Also digital marketing is important to build a lasting relationship with your customers by providing you platforms to engage and remain connected with them. Digital marketing is the tool that can help you extend your relationship with your customers beyond the billing counter. Personalized thanks note, gathering feedback one to one, present them with discounts and offers specially created to suit their preference, these are possible only with digital marketing.
To understand market demand and trend: Small businesses need to allocate their capital wisely to the products that will sell. But how to understand what will sell? Understanding consumer demand and preference was never an easy task. There are several survey and analytics companies that offer their services to businesses to study and understand the market trend and demand of their target group. Conducting such physical surveys many times are too costly for small businesses. Therefore the solution and the even more effective one is studying digital medium analytics. Digital marketing allows you to understand your customer's choices and preferences by watching their reactions to your promotions over a period of time. Isn’t that easier and far more reliable as you get to study them for a longer period of time and also get to know them with their actions and not only words?
Because your competitors are in digital mediums: Digital mediums are where now the world lives for the maximum amount of their time in a day. It is no wonder that now relationships to business everything is happening online. Your competitors are already in the digital world marketing their things, not doing digital marketing for your business in such a scenario is simply self-sabotage.
The market competition, some 20-30 years back was not so huge as of now. With hundreds of start-ups coming up every year, keeping on toes with competitions is essential activity now to survive in the market.
To get trackable ROI: This is the most important pointer and I would say the most important benefit of social media marketing over traditional forms of marketing. Traditional marketing are mostly intrusive marketing practices that can neither be targeted nor controlled and the outcome of ROI (Return on Investment) isn’t trackable. But with digital media marketing you get all these three advantages:
**Deep Marketing:** The word coined by Deepak Kanakaraju, the renowned digital marketer from India, deep marketing is the kind of marketing where you involve and engage your customers with their consent. Digital marketing allows you to offer content and engagement in the way your customer prefers which builds a deeper loyalty with the brand.
**Controlled Marketing:** With digital marketing, you need not strategize for a longer time and invest in collaterals upfront without any surety of whether it will work or not. You can strategize your marketing plan every week depending on the action and reaction of your customers. Making a change in the plan will not cost you a hole in your marketing budget.
**Measurable ROI:** With the analytics and insights of the digital medium, each and every investment of your marketing budget in digital marketing is measurable. You can actually draw out a figure of how much you spent and how much it worked.
Because digital marketing is cheaper: This point has been covered mostly in a previous subpointer, yet I am mentioning this again because it is important enough to demand a separate pointer. Compared to traditional marketing (ATL or BTL) digital marketing is cheaper and more penetrating making a perfect choice for small businesses.
Are you using digital marketing for your business?
Futurescape Advertising is an ace digital marketing company in Navi Mumbai that offers end-to-end digital marketing services to brands. If you aren’t sure yourself about handling your brand’s digital medium strategy, Futurescape Advertising is an excellent choice to opt-in. Get in touch with us today!