Why do small businesses need digital marketing is a question we regularly get asked. Local businesses with limited marketing budgets are competing with national and international brands when it comes to marketing.
“Digital Marketing is that component of marketing that utilizes internet and online based digital technologies and digital media platforms such as google, facebook, instagram, pinterest etc to promote products and services.”
Online marketing is essential for small businesses today because consumers are now online, more aware and rational. While small businesses compete with global brands, online marketing is the only way that can boost your market presence, increase revenue and widen customer base in the most cost-effective manner.
While there are small businesses which are active in digital marketing, there are also some small businesses who are still postponing it due to a variety of reasons like lack of time, lack of knowledge or limiting themselves to one particular kind of marketing.
Are you also the one who still overlooks the benefits of digital marketing? Better late than never, so get started today.
10 Best Reasons Why Digital Marketing is Important
1. Consumer Expectations have Changed
Consumers today are more active online, when most of them hear of a new business, they immediately look up the website and social media accounts to learn more. People expect you to have a website. If you cannot be verified digitally, individuals searching out information doubt your existence and legitimacy. Also, more consumers are increasingly searching for products and services on the web and these trends are expected to increase exponentially.
2. Your Competitors are Online
You might not have launched an online marketing campaign yet, but your competitors most likely have. Post advancement in technology, the world has become a global village wherein your competitors are no more domicile. You compete with the global market hence to be relevant and enjoy the mind share of your potential customer, it is inevitable to neglect online marketing.
3. The Cost-effective form of Marketing
Digital marketing is more cost-effective than traditional marketing. This is especially important for small businesses as they don’t have many resources or capital to market. A one-time TV ad can of 30 seconds cost a business more than Rs.3,50,000. if shown at a normal time during the day. A small business doesn’t have that amount of money. While on the other hand, Digital ads can reach a super-targeted audience at a lower cost.
4. Targeting the right Audience
One of the reasons why digital marketing is winning over traditional marketing is that it helps to target a specific segment. The interactions done with the target audience are result-oriented.
By interacting with people digitally, you can start to get to know what they are looking for. Where is their pain? What is keeping them up at night? What solutions can you offer to them? Instead of trying to guess, digital marketing allows you tools and methods for finding out who your customers really are.
In this way, you start to build a customer relationship and this helps you become much more than a business. You become a trusted partner! Because people are much more likely to buy from businesses that they have already bought from.
5. Increases Revenue
A successful digital marketing strategy gives higher conversions. There’s an increase in revenue as a result of higher conversion rates. Companies that use social media generate 78% more business compared to the companies who do not use social media marketing. The more exposure you can gain for your brand, the more leads you will generate. The more data you can extract from your outreach campaigns, the higher your ROI will be.
6. Geographical Expansion
Expanding to a new geographical area with the help of traditional marketing can cost you fortunes. Digital marketing will help you expand to new areas without any hurdles. Just enter the city you like or select a radius in a particular city. You are flexible with your reach and type of audience. The campaigns can be set up in no time and you are good to go. This not only helps you widen your customer base but also increase your brand reputation.
7. Gives Measurable Results
The best advantage of Digital marketing is that you can actually see which channel derived what amount of sales. With the help of the specific tools, you can easily measure results for each and every digital marketing platform. This will help you to evaluate performance and help you in making decisions and business planning.
8. Helps in Mobile Marketing
Digital marketing also includes mobile marketing. There is no doubt attached to the fact that people are increasingly using smartphones nowadays. Companies, therefore, are making their websites responsive on mobile. This can help you too in reaching your customers easily.
9. Build Brand Image
Every business initiates with the aim of attracting more customers. Being a small business, you can start with the aim to gain maximum possible clicks to your websites and marketing platforms. Gradually, more people start to recognize your brand and when you offer them the exact thing they are looking for, the reputation of your brand increases and all this at no bulky cost!
10. Influence Marketing
Social media platforms like YouTube, Twitter and Instagram hold the power to influence the general public. The inclusion of social media has given birth to influencers. This particular breed of influencers has the incredible power to influence the decision of the general public. Hence, companies no longer have to endorse celebrities to boost sales of the product or service. This way, small business owners can also afford getting their brand endorsed by local people with minimal cost.
Final Thoughts
Looking at the above list of reasons, the small businesses should definitely opt for digital marketing. With digital marketing, small businesses can attract a large number of audiences. Digital marketing is a cost-effective way to transform your current business.
Going digital will bring you the potential to convert your small business into a global business. Marketing is all about targeting the right people with the right message, Digital marketing helps you do that efficiently. Hence, it is wise for the small business to utilize the potential of digital marketing and get ahead in their business.
At NextPinnacle we help small or local businesses one-on-one personally to attain the business growth, marketing, visibility and customer engagement via renowned business strategy and get more traffics, conversions and sales.