In today’s highly competitive market and digital age, one thing that is certain is that every business needs to have their presence on the internet. No matter which industry you belong to, your business is bound to have an online presence whether you are active or not. Basic steps like tracking, monitoring and reviewing your online activities will guide you to reach more precise results leading you to increase your sales in the long run.
COVID-19 left the world gasping; compelling to restructure the national economic system. This emergency also affected the MSMEs, SMEs across the country, challenging them to handle multiple situations like finance resources, production, supply chain and so on. Moreover, the pandemic has changed the consumer landscape forever; regardless of how long this is going to last, companies can’t play by their old marketing cards. The upswing of digital media has significantly changed the way people communicate personally or professionally. In the last few years, ‘digital’ has witnessed an unparalleled surge and has redefined the way we use the internet.
It is a well-known fact that leveraging technology into any type of business is a sustainable solution as it contributes in all aspects right from building marketing strategies, audience engagement, customer relations, marketing to product innovation. Where technology is part and parcel of our daily lives, it is hard to believe that many businesses are not taking full advantage of how it can help them; one of which is digital marketing. Below are a few factors emphasizing why small and medium enterprises should use digital marketing as their primary tool in growing their business:
i) Cost-effective marketing: Ever since the birth of technology, digital marketing has grown massively and will be on a definite surge. To balance marketing budgets, more and more businesses are adapting to digital marketing, main reason is the cost-effective factor along with the need to meet the changing consumer behaviors.
Digital marketing does not require huge investments. Small businesses can find digital channels that are best fit and do not require strenuous budgets.
ii) Targets right audience: Marketing is all about connecting with the right audience at the right place and time. Targeting the right set audience is extremely crucial to the success of your business. Marketers have data on their fingertips, they can easily find out the behaviors, what customers think about the company and product offerings, and topics that interest them. Otherwise, if you are not reaching the right audience, then all your digital marketing outreach turnout to be a vain effort.
iii) Builds lasting customer relationships: As a key to any relationship is communication so is in digital marketing; communication is an essential way to build customer relationships. Along with promoting your business, listening to your customers is equally important.
Invite customers feedback to show that you are listening. Customer feedback brings in notice of your customers specific needs so you can find perfect solutions to their problems.
iv) Helps in mobile marketing: There is no doubt that people are increasingly using mobile phones these days and has multiplied since the past decade. Around 60% percent of users discover a new product while surfing online. Mobile marketing allows a business to reach a wider audience as compared to web marketing processes with a deeper understanding of the interface.
v) Easy and measurable results: With offline marketing it is difficult to measure your campaign results. For e.g., if you place an ad in a newspaper, you actually don’t know how many readers actually consumed your ad as opposed to just browsing it ad which is exactly contrary in digital marketing. Here, you are able to determine how many people saw your ad/social media posts, visited your website, how many sales resulted from the ad and ultimately your return on investment can be tracked through web analytics and other online metric tools.
One of the reasons why digital marketing is winning over traditional marketing is that it helps to target a specific segment. With a modest sum of money, you can actually reach an incredible number of people through the digital channels. No matter what size your business is, you can benefit from investing in digital marketing.
The blog has been been authored by Jay Rathod, Founder, Koffeetech Communications.
DISCLAIMER: The views expressed in the blog are solely of the author and TheSMEIndia.com does not necessarily subscribe to it. TheSMEIndia.com will not be responsible for any damage caused to any person/organisation directly or indirectly.