Starting your own business is something that more and more people are considering and even doing. The job market is difficult right now, and that, combined with people’s desire for a better work life balance and more freedom, plus the fact that starting a business can be done for little money and relatively easily, means that what might once just have been a dream can become a reality.
Yet just because you can start a business, that doesn’t automatically go on to mean it will be a success. You will need to work hard at it, at least until it becomes more well-known, and part of that hard work will include investing in digital marketing. Even those on a small budget will need to ensure there is enough money put aside for this particular form of advertising. Here are the reasons why it is so important.
Stay Ahead Of The Competition
No matter what sector you might have set up a business in, there will be competition. It might be direct competition with other companies selling the same products and services as you, or it could be more indirect, with other companies selling similar products and services. If it is the latter, then you can more easily differentiate yourself, but it is still difficult. If the former, then showing that you are different is extremely difficult indeed.
This is where digital marketing can help. You will be able to work out your USP (unique selling proposition) and use that in all of your marketing. You might have great prices, a better level of customer service, your products might be handmade or sourced sustainably, or any number of other things that make you stand out. Factor this into your digital marketing and, with the reach that it gets, you can stay ahead of the competition.
Don’t forget that you can also see what your competition is doing in terms of their own marketing by following their pages on social media, for example. Although you must not copy what they are doing exactly, you can see what is clearly working (due to the number of shares and likes) and what isn’t, and move your own marketing in the right direction.
Makes It Fair
A small start up with a small budget will have little chance against the big, multi-national household names that are already so well known and liked if they are marketed using traditional methods (assuming they are marketed at all). This can mean that, despite a lot of hard work and a great product or service, you simply go unnoticed. It can feel very unfair.
Digital marketing can help to ‘level the playing field’, ensuring that you can get as much coverage as a larger business can, no matter what your budget might be. It all comes down to creating the right ads using the right techniques, including SEO from BigCommerce, placement, and original, sharable content.
With the right techniques, your website has a good chance of sitting at the top of Google’s search engine rankings and being spotted when someone searches for whatever it is you sell. This makes the competition fairer and gives you more visibility in general.
Target The Right Buyers
When you invest in digital marketing, you are investing in real, targeted ads. Why is this a good thing? It’s because, rather than creating an advert that won’t appeal to everyone who sees it (you may have a rather niche product that just isn’t going to be what the majority of people want), you can instead create ads that will be shown to those who are interested in what you are selling.
Using keywords and SEO, you can tailor your advertising to the people who will buy from you, rather than using a random approach that you hope will work. Your advertising budget will go a lot further in this way, and you can reach a specific audience.
There are a number of ways you can tailor your ad, including:
- Likes and dislikes
- Previous searches
Look At Your Analytics
Running a business means that you need to know what is happening in every department and different area. How much you need to know will depend on whether you have other people working for you; if you are on your own, you’ll need to know everything. If you have managers who deal with the minutiae of your business, an overview will be enough.
No matter how much you feel you should know, getting that information is a lot easier with digital marketing. You can see specific analytics from your campaign, showing you which types of people engaged with your ad, how many link clicks you had, and generally how well the advertisement worked. Making your next campaign will be a lot easier with this information; you can repeat what worked (with a few small tweaks if desired) and discard what didn’t.
One of the great benefits of digital marketing is how flexible it is. If you find that, part way through a campaign, it just isn’t working in the way that you hoped, you can change it, or delete it altogether and start again. This would not be possible with a traditional form of advertising such as a print ad; once you run that, you can’t change anything, even if it doesn’t bring you in any sales (or, worse, causes a fall in sales).
Digital marketing can be changed, paused, updated with additional information, or boosted as much as you need it to be until you get it just right. Again, your marketing budget will have less chance of being wasted, and you can be sure that you’ll be entirely happy with the campaign you are running.
Everything Is Online
Increasingly, people are turning to the internet to do almost everything. They use it for work, utilizing cloud based systems and running websites, and for pleasure, such as engaging on social media, and shopping.
So much can be done online that it makes sense to advertise here as well. This is where more people will see your ads, and they are so used to engaging with what they like that they will happily write a comment, save your post, or like it. This all helps with visibility and ensures that your ad has a much greater reach. Advertising where your core market is is a sensible option and can easily be achieved with digital marketing.
A Good ROI
Look at the outcomes that digital media generates for companies to see how important it is. Online marketing tactics provide a fantastic return on investment (ROI). Email marketing offers one of the best ROIs of any marketing approach, but no matter what you choose, if you work with experts and do your research, you should get a good return for whatever it is you’re able to invest. As with everything, of course, the more you invest, the more you’ll receive.
For every dollar invested, you could receive up to $44 in return which is a 4400 percent ROI. This is an excellent chance for you to expand your business and benefit from your marketing initiatives. So, why is there such potential for a high ROI with these techniques? Using internet marketing tactics is incredibly cost-effective. Because you don’t have to invest much money to execute a campaign, this allows for a high ROI. When compared to certain conventional approaches, running a PPC campaign or social media marketing campaign does not cost much, allowing your firm to expand.