COVID-19 has taken a toll on a large number of small businesses. According to McKinsey & Company, 54%, or 30 Million small business jobs are vulnerable in the U.S alone.
That’s how hard the pandemic hit the superpower. Most of the businesses that got shut down were the ones that solely relied on offline mediums for their operations.
Businesses who were operating online did feel the impact but, thanks to the digital presence they sustained.
According to a survey by Digital Europe, 82% of employees working in digitally transformed companies can work from their homes.
The same survey also says that 89% of companies gave hygiene guidelines to their employees for work from home purposes, and 92% of companies replaced physical meetings with video conferences. So, if you want your business to sustain even in unfavorable circumstances, then you should be equally active online as you are offline.
Is Digital Marketing Worth It?
A study by Retail Dive says that 87% of people today search online to buy a product or service.
If you are not catering to the needs of such a massive customer base then, you are missing out on profits big time.
The truth is that you cannot attract as many customers to your offline store as you would do to an online store.
Your online presence will make your business visible to millions, if not billions of people. You can’t attract such numbers to your small offline business, can you?
Does Digital Marketing Work?
According to a study by Small Business Trends, 83% of small businesses believe that digital marketing is working for them.
So, there is a high chance it will work for you too.
Yes, patience and consistency in the digital world are the keys, but you’ll see positive results once your online business is set up.
Benefits of Digital Marketing for Small Businesses
By now, you probably know how digital marketing is helping small businesses to grow. But, that’s not a piece of conclusive evidence to believe.
Well, to help you make your digital marketing decision I’m going over six benefits of digital marketing for small businesses starting with:
1. Get Access to Millions of Customers
One of the most significant benefits of digital marketing is that your business catches eyeballs across the world.
More people come in contact with you through various social media platforms like Facebook, Instagram, and LinkedIn than through your offline store.
Your website will get leads(potential customers) through high-quality content and Search Engine Optimization techniques.
With time, you will have an established user base that continually buys from you, and a new stream of income will start.
And guess what? These customers are not going anywhere as your online store never gets closed during any pandemic.
2. Digital Marketing facilitates Precise Targeting
Advertising through billboards, Newspaper ads and, TV ads is a pretty vague approach. A person reading a newspaper or watching television may not have an interest in what you are selling, and thus, a portion of your advertising budget gets wasted. But that is not the case when someone searches for a product by themselves on Google.
Digital Marketing helps your website to rank at the top of Google’s SERP for most searched keywords.
So, whenever someone searches for the keyword that you integrate into your website, your website gets visible to them.
3. Digital Marketing is Cheaper Than Traditional Marketing
Generally, traditional marketing costs around $22 per thousand impressions, whereas you only pay $3.45 in digital marketing for a thousand impressions. This makes digital marketing much cheaper and reliable than traditional marketing. Digital mediums such as Facebook, Twitter, Instagram, and Google My Business are free for all.
You can register your business here and start engaging with potential customers. The cost of paid ads campaigns offered by these platforms is cheaper than TV ads, newspaper ads, and radio ads.
4.Measurable ROI Metrics
Unlike traditional marketing, where you cannot find out how many people read or saw your ad; Digital marketing allows you to measure everything.
You can apply Google Analytics on your website’s landing page and check the following:
How many people visited your website?
Where they clicked and scrolled?
How many of them bounced back?
How many of them proceed through and purchased the product?
Since most of these features are free, you can measure your business statistics inside out. Through proper measurement of returns, you can identify the modifications that you need to make. You can optimize your landing page based on the bounce rate and alter your product based on response.
5. Digital Marketing facilitates Multi-Channel Approach
Through digital marketing, you can get your business spread across various channels.
By SEO optimization, you can reach out to the organic search users and run Facebook, Instagram, Twitter, and LinkedIn marketing campaigns to spread the word. After identifying the presence of your target audience, you can strategically channelize your marketing approach and grab more eyeballs by choosing the right platform. Unlike an offline store, your presence is all-pervasive.
6. Digital Marketing Makes Your Competitive
If you are to stand a chance in front of the big giants in your industry then, you have to be versatile. Marketing situations keep on changing, and as a result, you have to face a lot of challenges every day.
Digital Marketing helps you to identify the current market trends through tools like Google Trends, where you can type your keyword and check the stats. This helps you to modify your business operations and be at par with the current trends in the market. Thus, digital marketing makes you competitive and enhance your business expertise.
The world is moving online. Even those businesses that heavily relied on offline mediums are now establishing themselves online.
Online marketing services not only help your business to grow but also provides quick results that keep you motivated to work harder.
COVID-19 taught all of us how fragile markets are. To cope up with the current marketing scenario, you need to move your business online.
So, consider all these benefits and take your business online today to stay ahead of your competition.