You’re feeling ecstatic. You just started your dream business.
You have done setting up your physical store, distributed the flyers, and installed posters within your vicinity. You did your homework. Your product or service has high quality, your price is on par with the competition, and there’s a demand for it. You know that this business would work. Yes, finally, your business is now ready for primetime.
However, after a couple of months of operation, you’re disappointed with your sales.
How is that possible you may ask?
There’s a ton of potential reasons but one of the biggest culprits is marketing. In today’s internet age, it’s Digital Marketing to be exact.
Business owners, you may just be missing the known secret of modern business’ virality and success.
The fundamentals of marketing haven’t changed – it’s still giving potential clients the emotional and rationale reasons to purchase your product or service. What changed is how businesses MUST do it.
Digital marketing is one the result of those changes due to widespread use of internet and digital devices. As our behavior in doing business becomes more internet-propelled, so does marketing.
Basically, any marketing or activities done to reach customers over the internet is considered as digital marketing. It leverages familiar channels like social media, email, website, and search engine to connect to your target audience.
HOW DIGITAL MARKETING HELPS SMALL AND MEDIUM BUSINESS?
Doesn’t matter if you just started your business or an established medium-sized business, there is a huge and untapped potential in digital marketing.
Do you want to connect to customers outside your city? How about providing convenient support for your customers? Do you want to grow your sales quickly? Then go for digital marketing.
Marketing through the internet provides you the ability to tap thousands of customers over the internet instantly. Though flyers and posters still work, in some ways, it can’t keep up with the flexibility and cost-effectiveness of its digital version.
Flexibility. Traditional marketing requires you to work with physical resources like printed collaterals, brochures, bill boards and the like. If you have the budget, ads for radio and tv commercials could be an option. All of them require significant investment in terms of planning, time, and budget since you have to do it right the first time. Because when they’re out for display, you can’t change them anymore.
In digital marketing, you only need an internet connection, an account in Facebook, and a business page, then you can start reaching your customers. And with the increasing number of internet users each year, the more people you can connect and market your business.
Furthermore, unlike traditional marketing, digital marketing enables you to update your marketing collaterals – digital flyers, social media posts, website headlines — easily and quickly based on real-time customer behavior. Yes, you can do instantaneous analysis of your online marketing efforts with the right tools which is non-existence in traditional marketing.
Cost-Effective. Any type of business would prefer low cost investment with high returns. That’s even true for small and medium businesses. This makes digital marketing even attractive.
Let me try to share with you some sense of optimism.
For example, in social media, spend only $5 and reach 1,000 people. That’s 3X less costly than traditional media. When you advertise in Search Engine, commonly known as Pay-Per-Click, business average revenue per dollar spent is $2 which is a 200% ROI. Now, you see?
Those were just two out of many digital marketing channels. Based on your business goals and strategy, you have a number of channels to choose from.
WHICH DIGITAL MARKETING STRATEGY IS BEST?
Here are some common strategies:
– Business Website
– Search Engine Optimization (SEO)
– Content Marketing
– Social Media Marketing
– Email Marketing
They all have the same objective – connect your product and services to your audience – but different in approach and use.
Here are a few examples.
For starters, especially for new business owners, creating social media is a quick way of sharing your business to the world. That’s because it’s accessible and a cheap way to advertise your product or service. Social media platforms like Facebook, Instagram, and Pinterest provides an easy way to create a business page and advertise your posts.
To formally bring your business in the digital space and boost your credibility, a business website is your best friend.
There are online services that can help you DIY a website but for quality results I would honestly recommend to ask professionals to do it for you. Why? It brings me to my next point – SEO. No DIY tool can do it right and in a sustainable manner for you.
SEO is crucial to make sure that people can find your website. It assures that your website has the technical requirements and the right content so search engines like Google can serve your website to the right audience.
As you can see. Your digital marketing can contain different strategies and channels to maximize its effectiveness. It’s important that you plan ahead and make sure that your strategy is aligned with your business goals.
Basically, each digital marketing strategy is best in their own right.
WHERE DOES THIS LEAVE US?
Those are just a few but real reasons why digital marketing is the norm these days.
Having a solid digital marketing plan for your business is a must to spur growth for your business. So, take your time to choose which strategy is best for your current goals. It should be accessible and should bring the most bacon to your business.
Go ahead and get your feet wet. You MUST adapt to the trend or risk to lose hundreds of thousands of potential customers just sitting in the subway.
If you need marketing assistance or you just want to focus on what you do best – building your product or service – give us a ping. Me and my team would be glad to help you.