Entrepreneurship is on the rise due to technology, the internet, and funding opportunities. No wonder a lot of students and young adults are looking forward to starting their own business.
One of the main challenges the majority of small businesses face is attracting customers. It might be hard to get the first customer through the door. And this is where digital marketing comes to the rescue.
Digital marketing is an extremely powerful tool, not in other regards too. It is not hard to start with; all one needs is time and motivation. Yes, time is not something students have a lot of. They usually have to balance out their curriculum, assignments, a part-time job, a side gig, and social life as well.
This is a tough combo to pull. Colleges are notorious for endless writing tasks, essays, research papers, case studies, etc. Luckily, if one needs a bit of free time, it is completely possible to pay for papers and delegate the assignment to professional academic writers. They can easily do any type of academic paper in a short time.
You’ll get excellent results without any hustle. This way, one can finally have some rest and research advanced digital marketing means to power up their small business.
And if you are not convinced of the importance of digital marketing, just keep reading.
The rise of digital marketing
Everything changes with time, and marketing is no exception. Traditional means of promotion and advertising now are not even close to their popularity a couple of decades ago. They’re simply not as effective anymore.
Of course, they are still present and used. But here are some impressive statistics to consider about digital marketing:
What do all of these stats tell about digital marketing? Customers are online, they are actively searching for products and businesses, and they are ready to buy things.
Nowadays, it is the easiest way to attract an audience and increase sales. This is just something everybody needs to know about digital marketing. There is a huge market out there, and it would be a shame not to use it.
Types of digital marketing
One of the great things about it is that it has a multitude of tools and communication channels. There are major trends that can boost a business even with little to no investment at all. The main types as for today are:
Some of these strategies one needs to pay for; others are free. In any case, they are much more affordable than paying for billboard or paper magazine ads. Another factor to mention is that they work great when combined together. For example, SEO practices help to rank higher. But if there is no clear content marketing effort, it all goes for nothing.
In such a case, users can find a page, but they do not engage with it as they get zero interest.
Benefits of digital marketing for business growth
There are many things a well-designed digital marketing strategy can do for a small business. Here are the main advantages.
Reaching target audience
With the traditional promotion, it is hard to personalize the communication. Yes, every magazine or newspaper has its own audience, but it is a wide category nevertheless.
When designing an online campaign, you can select the age, location, social and financial status, as well as preferences to reach the people that would mostly like your product. And it helps to get to know your customers better as well.
It is fast and affordable
It is no secret that online promotion is much cheaper than traditional ones. You can run a Facebook campaign for even $5 and get results. Moreover, you are in control of how much you are willing to pay.
What makes it even better for small businesses is that one can start almost immediately and do it all online from the comfort of their home.
Social media platforms allow running several campaigns at a time and evaluating their efficiency. In the case of the PPC method, you pay only for the click received, which is perfect.
You get better ROI
The majority of merchants and enterprises claim that online promotion, whether it is paid one or free, has a better investment of revenue (ROI). Take content creation, for example. You can write a well-researched and helpful blog post once, and it will drive traffic constantly.
Another example is social media presence. The more followers you have, the more of them you can turn into loyal customers. Social media has just opened a wide range of possibilities for people. New business owners are even making a lot of profit because of social media publicities. They just have to choose the right platform and get some knowledge about the platform.
At the beginning it may seem too difficult to get the target audience but with time things get easier. If someone fails to increase their growth on social sites there are many alternative solutions to keep growing the business. For example, the Instagram users may get an Instagram growth service to build their online presence stronger.
According to HubSpot marketing statistics for 2020, Facebook and Google paid advertising have the highest ROI among paid-for channels.
It helps to compete
Previously it was much harder for a small company to compete with industry giants. Nowadays, with a strong online presence and valuable content, you can compete with them for the customers.
It helps to increase brand awareness and establish a reputation. With content, one can showcase their expertise and values, which clients like.
In any case, your competitors are probably already doing it. Competitor research is a great tool in this situation. By doing it, one can assess which practices work and which don’t. It also helps to find the content gaps – questions users have that are not yet fully answered. If the content does have a unique perspective or something valuable to add, the audience wouldn’t want to miss.
Building relationships with customers
Not only can one create content and presence, but they can also communicate directly with customers. With surveys and polls, you will find out what they think about the product and what they are looking for.
With responses to reviews and comments, you can show that you care and are willing to help them. To collect customer feedback, you can send SMS alerts or email surveys and then make improved decisions.
Engaging with the audience directly allows building a trustful and long-term relationship with the audience.
It adds to customer support as well. Nowadays, overall experience a company offers is what makes or breaks the deal. If your target audience prefers to get information from social media, you need to utilize that.
If they prefer a fast response, it is worth incorporating a live chat on the website. Maybe they want self-service, it is better to understand ahead of time.
Getting insights into strategy’s efficiency
Another stunning thing about digital marketing is that it is data-driven. When you publish a magazine ad, you have no idea how many people saw it, engaged with it, or how many of them turned into buyers.
But with online campaigns, it is the opposite. With analytical tools like Google Analytics, one can know exactly how many people saw the ad/post, how they interacted with it, and how many of them bought the product.
This data is extremely valuable to know the market better and plan the next campaigns more efficiently. Based on A/B testing, you can plan future campaigns, sales, or content. You can also figure out bounce rates and where exactly users decide to leave the page (for example with heat map analysis). Knowing the problem is the first step to solving it.
It increases sales
Because of all mentioned before, it is something that can truly boost a company, no matter how small it is. One is in control of the brand’s identity and reputation. It is also easier to optimize the buyer’s funnel with all the data from the website. And it is faster to release and promote new products/services to the audience.
Digital marketing is a must for all businesses in modern times. It is the most effective way to reach huge audiences. Customers find it comfortable; they search for companies and products online and read reviews. They also appreciate the valuable content and personalized experiences. And as for businesses, it is cost-effective, easy, fast, and efficient.
For starting entrepreneurs and small companies, in many ways, the digital way is much more accessible than traditional promotion and advertising.