We’re all aware of digital marketing today and how it works. But not many are aware of the impact and importance of digital marketing for small businesses. In this blog, we’re quickly going to walk you through the reasons why you need it if you’re a small business.
Consumer behaviour has changed drastically today. How?
- People prefer shopping online from everyday utilities like vegetables and milk to the most expensive items as well such as electronics.
- The amount of time spent over social media platforms each day is increasing, especially since covid-19.
- Google has become the most popular search engine for consumers to get answers to every possible query.
With such a drastic change in consumer behaviour, companies need to update themselves as well. They can no longer use traditional methods to acquire the same results today.
Hence, to meet the latest demands of consumers, small businesses must adopt digital marketing. There are various digital marketing skills and each skill does a different job.
When all of them are used optimally, they help in achieving some great results. Thus, it is no secret that the benefits of digital marketing are abundant.
Let’s look at some factors that contribute to the rising importance of digital marketing for small businesses:
7 Reasons Why Digital Marketing is Important for Small Businesses
# Reaching the Right Audience
One of the biggest reasons why digital marketing is immensely utilised by small businesses is because it allows them to reach the right potential customers. Initially for small businesses, it used to get difficult for them to reach the correct people.
That led to a lot of wasted resources. And that’s something that a small business cannot afford. Thus, digital marketing lets you meet the people who are most suited for your products/services and thus, your chances of converting them become greater.
And since the pandemic, people of all ages have started adapting to the Internet and are spending a lot of time there. This is your cue to start shifting your resources online because you have to follow where your customers are moving.
# Personalized Communication
One of the revolutions that have come along with digital marketing is the high level of personalization in the marketing approach. Previously the same messages or adverts were run across and were expected to appeal to all kinds of people.
Digital marketing showed how different sets of people require different approaches that closely appeal to them. And that’s exactly why a small business needs it. If you start catering to different parts of your audience through messages that they resonate with the most, you will be at the top of the charts right from the beginning.
Digital marketing lets you run ads and strategies that make a consumer feel like the brand is directly talking to them. It helps you increase your conversion rate immensely.
# Compete with Equal Opportunities
With digital marketing, almost every company big or small stands at par with each other. It offers equal opportunities and thus the competing ground is levelled.
All that differs is the amount of budget available at your disposal. But you needn’t worry. If you place your money correctly and diversify your budget through different channels, you can achieve similar results and compete. This is one of the most motivating factors why small businesses often go for digital marketing over traditional.
From the points above, it is already clear that digital marketing is a very cost-effective method when compared to the kind of results it helps you bring in. It is a cheaper method while also opening doors to a global audience.
Thus, the amount that traditional methods would require you to go global can be done in much less using digital methods.
# Higher Returns
Let’s imagine you have a product worth INR 65,000. And in the past few days, you noticed that a few customers have visited that product page very often but haven’t purchased yet.
You can run remarketing campaigns with as little as INR 500 and target these individuals with a highly personalised message. Further, you can offer some discount/incentive to urge them to purchase. Suppose out of the 6-7 people you remarketed to, 3 made the purchase.
Now you can already calculate the return on your investment of INR 500! Isn’t this amazing? This proves that it is a cost-effective method with the best returns on investment which is an awesome combination for small businesses.
# Build brand reputation
With everyone present on the Internet today, they see what they believe out there. Thus, it is very vital you build a strong online presence. If you’re missing on social media platforms, your competitors will eat your share of the audience.
Thus you must be present online and in fact, build a good reputation. With digital marketing, it has become relatively easy to place your brand exactly how you’d like it to be in the mind of your consumers. But you need to put constant effort there. Here’s one course to help you build it – Online Reputation Management Course.
# Trackable Results
Yes, that’s right! Running a digital marketing campaign is just half the job done. Tracking the results and assessing your returns is the second important step. With amazing tools like Google Search Console and Google Analytics, measuring your results has never been easier.
Why is this important? Because it tells you exactly what worked for you and what didn’t and thus your future campaigns can depend on that. This is especially beneficial for small businesses as it prevents them from wasting their resources on things that didn’t work for them.
These are pretty much the broad reasons why the importance of digital marketing for small businesses is on the rise. If you dive deeper, you’ll understand that digital marketing has immense potential and benefits.
Thus, for all those convinced that digital marketing is the way to go, here’s how you can get started.
How to Integrate Digital Marketing for Small Businesses?
Keeping in mind that a small business would not want to invest directly into an expensive digital marketing agency for starters, here’s what you can do instead.
Conduct in-house digital marketing for the first few years. How? You’ve got to start learning. Digital marketing is a line that experiences maximum evolution and changes. So every time you think you know it, there’s always something new that you don’t know.
So never stop learning. Start with this Online Digital Marketing Course that is taught by professionals working in the industry and doing what they teach. Thus, you can expect many out-of-the-syllabus sessions, tips and hacks.
Learn it yourself or register your best teammate who will be handling digital marketing. Another popular method is corporate training. You can upskill your entire workforce in digital marketing skills based on your company and find solutions. Check this digital marketing corporate training to understand more of what it offers.
You can also read blogs on digital marketing strategies for startups to learn how to use digital marketing with some techniques and tricks.
Once you start practising digital marketing, there will be trial & error rounds which are inevitable, so learn from them & move on. After you have complete confidence in how it works, you can go ahead & hire a digital marketing agency when operations become larger.
We hope this blog has helped you in some way and provided clarity.
Founder and CEO at IIDE
An ‘Edupreneur’ and the founder of IIDE – Indian Institute of Digital Education.
He is a passionate public speaker and teacher for over 10 years. He has trained over 1,00,000+ students and 25+ corporates in Digital Marketing via online and offline channels. He is a Harvard alumnus specialising in E-commerce. He is a TEDx speaker and is a visiting faculty at India’s top management institutes like the IIMs.