What is Digital Marketing and How Does it Impact Small Businesses?
Introduction – Digital Marketing
Digital marketing is an effective method for the production of a relationship between a business and its prospective clientele.
Although at first attempt it may be intimidating, just like anything practice makes perfect.
This post, brought to you by Stiddle, will outline what exactly digital marketing is and how it can heavily impact small businesses.
What is digital marketing? Digital marketing, also known as web marketing is best defined as the use of the Internet, mobile devices, social media, search engines, and other channels to reach consumers. Businesses utilize digital marketing to enhance their connection with their current and potential customers.
Since the percentage of internet users worldwide has increased from 28.7% to 59.6% within the past decade, it is important to expand the way you market as a small business to match your customers interests.
Digital Marketing Strategy
Digital marketing strategies are used to help businesses navigate their decisions to ensure they will generate profit. Therefore, when using digital marketing, it is critical to create a digital marketing plan to help your business achieve its goals.
To assist you in creating your own digital marketing strategies, we will list some ideas that in the past have helped a multitude of companies in their marketing needs:
Establishment of Goals:
Many argue that the establishment of objectives is a fundamental step in building online marketing strategies. In this process, a business defines the results that they expect to receive. An example is wanting to see your sales on a specific digital channel to increase by 10% at the end of the quarter. Setting in motion what your business’s end game is, is a major component in constructing your presence in a digital manner.
Defining Target Audience:
No matter what business realm you are in, the importance of defining your target audience is pivotal. â€œWhy?â€ you may ask. Well, think about it’s if you don’t know who your ideal market is, how will you know how to reach them? Why focus time and money on customers who aren’t interested in your product/service when you have the ability to target those who are?
Thanks to digitalization, your small business has endless options for determining this factor for instance, Google Analytics. Analytics tools as such, are used to help businesses determine which demographics such as gender, age, etc. are interested in what they are selling.
As a whole, defining who your target audience is helps your business optimize your time and is a smart tactic to use in a digital marketing strategy.
Search Engine Optimization (SEO):
According to Lyfe Marketing, search engine optimization is best defined as the process of optimizing your website to get organic, or unpaid, traffic from the search engine results page. In other words, SEO is used to grow the visibility of a business through search engines like Google by filtering through top keywords.
Higher rates of search engine rankings go hand-in-hand with an increase of customers for a business as a result of more people being exposed to the product/service that one is selling.
Content marketing is defined as a type of marketing that involves the creation and sharing of online material. When it comes to content marketing, there are numerous opportunities a business has with its use.
Social media marketing is an example of content marketing which is the distribution of content through social media platforms. Another type of content marketing is infographic distribution which is used to combine messages a business wants their prospective/ returning customers to know with the use of images.
Although we only explained two top types of content marketing that your business can use: blogging, video marketing, podcast marketing, etc. are also other types of content marketing that benefit businesses.
How Digital Marketing Impacts Small Businesses
Now that you have an understanding of what digital marketing is and know some common strategies that are often used, let’s dive into how it affects small businesses.
All businesses want their brand to be known by as many people as possible; however, for small and developing businesses brand recognition is especially important.
Having an online presence is a vastly effective way for businesses to connect with prospective customers and increase awareness.
Boosting Rate of Investment (ROI)
Digital marketing has over 4x higher ROI than other marketing formats. Therefore, even if your small business is running low on your budget, investing in online marketing has demonstrated greater profit than traditional methods.
Another way digital marketing impacts small businesses is how it utilizes algorithms in advertising. Algorithms are highly beneficial by allowing business owners to make smart decisions based on past results.
You can even use tools; such as the software we have at Stiddle that was created to help small businesses like yourself. Once you sign up, we do all your advertising work for you by generating high performing campaigns and sales funnels. Getting Assistance from automated tools in the realm of online marketing is crucial. If you are interested in a FREE TRIAL from Stiddle, Click Here.
Digital algorithms use data to predict future results that will take place and are highly beneficial for small businesses.
Higher Conversion Ratings
Conversion ratings for businesses are the generated revenue based on a business’s marketing tactics.
A study found that there is a 2.8 times better revenue growth expectancy for companies using digital marketing strategies to those who do not. Furthermore, small businesses like yourself will have a 3.3 times better chance of expanding [your] workforce and business with its use.
If you have a small business and are deciding whether or not to get into digital marketing do it. It is a long-term investment that will help expand your business significantly.
We hope this guide assisted in formulating some ideas that you can implement yourself.
Best of luck!
Stiddle aims to bring you inspiration from leading respected marketing experts.
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