Why Digital Marketing is Important for Small Business [Updated]
Updated: May 23
Times change indeed. With ever-evolving technology, small and medium scale businesses are doing everything they can to keep up. Brick & Mortar businesses are changing business models and moving to an online/eCommerce store and using digital marketing strategies to capture the ever-changing audience.
According to Forbes, 80% of people use social media tools like Facebook, Instagram, or Pinterest / Google the company and product before buying them. Poor presence or unavailability can cause you to lose a potential client to your competitors. Once they have made that decision, they probably won’t be back.
Some of the way on how digital marketing can help your business grow:
Brand awareness is a general term that describes how familiar a consumer is with that brand or its products. It is a vital component that helps consumers make a decision whether to go with your product or a different product.
Using digital marketing is one of the easiest ways to build brand awareness so that consumers can relate and associate with the brand. An increase in awareness can lead to
Increase in sales
Building a loyal community
Standing apart from your competition
Your Competitors are Online
For a successful business, you need to know what your competition is and learn from them. Most likely, whatever type of business you are in, your competitors have established an online presence be it through the website, social media, ads, etc.
If a potential customer can’t find you online, they may conclude that your business doesn’t appear to be legitimate and you can lose the customer.
Your competitors can help you get a fair idea as to what is working and what is not working. What kind of content are they using, are they running ads? are they blogging or are they active on social media. These questions can help answer how you can start off.
Get to Know Your Target Audience
Digital Marketing helps with constant interaction with your prospects. You can gradually get to know them and understand exactly what they are looking for.
There are different ways like Social Media or Blogs to connect with potential customers to start a conversation. To understand them better, pay attention to their comments, their questions and understand their requirements.
By interacting with people online you create trust and you get to know what exactly they are looking for.
Be Accessible to Your Customers
It’s clear in today’s digital world, the average person looks for what they want online. Whatever the product or service that they are looking for will most likely start with a google search.
Even if you have an online presence but your competitors are easier to find than you, then you might not be found at all. Besides creating a website, learning or getting SEO done can help you move ahead of your competitors.
Simple questions should be easily discoverable online, such as where you are located, what your hours are, and what you specialize in.
In the early days of marketing, businesses usually would depend on billboards, radio spots, or TV ads. While these methods are effective, they might not be feasible for everyone, not to mention they come with a hefty price tag.
Using digital marketing to promote your small business will help you to have a much better chance of business success.
There are cost-effective strategies to use online to attract people to your business and its products or services, through social media, a website, or other means, subtle digital marketing tactics can make a significant difference in your profitability.
Yield a Higher Return on Investment
With any business, return on investment is a crucial statistic used to evaluate profitability.
Digital marketing is cost-effective for businesses because you can continually evaluate how and if it is working. Measuring the ROI from your campaigns helps you to re-work strategies and put the resources toward the right projects.
A larger group of people can be attracted digitally than traditional marketing methods. Using digital marketing can help reach an enormous audience which is cost-effective and can be measured.
Other ways digital marketing can help are:
Help gain a better insight as to who your audience is and what they are looking for.
Ability to reach a wider audience.
You can save money and reach more audiences than traditional marketing methods.
The ROI can be measurable.