Digital Marketing – The lifeblood of your small-medium businesses
The tactics you used last year may not work or yield the same results in 2018/2019. As you plan ahead for your marketing plan, you may appreciate the below insights from Infusionsoft (Small Business Marketing Trends Report). Reader beware – not all that glitters is gold!
Benchmark your goals against the report – compare your business’ marketing goals against other small business
As indicated by the report, the #1 goal for SMB is to attract net new customers (interestingly this is only a goal for 31% of the lot). Here are a few other stats to make you ponder:
- Retaining current customer base (25%)
- Spend more on social media (38%)
- Invest in digital advertising and search engine optimization (30%)
- Spend more to attain website analytics (24%)
To an outsider, it may seem that SMB owners are embracing digital marketing tactics to help their business grow. However, they are not nearly doing enough! It’s interesting to see that 28% of the lot will NOT BE increasing their marketing budgets and that 15% have NO PLAN to invest in digital marketing at all! Everyone has the same fall-back answer, “I don’t have time to invest and implement digital marketing in my business – I am way too busy”. Unfortunately, the truth is, no matter how busy you are, no one is going to wait for you to catch up. At this point in time, your digital strategy should be a primary focus for your organization.
Digital marketing efforts – Small Business Owners
- Managing social media channels (49%)
- Analyzing and acting on analytics data (36%)
- Investing in SEO / PPC (28%)
- Investing in email marketing (27%)
So, what do we do now?
Evidently, social media trumps the above list of digital marketing efforts for SMB owners. According to the report, 74% will invest in social media, and 40% will increase how much they spend in comparison to the previous year. Interestingly, social media has been remarked as the #1 channel for finding net new customers.
In order to remain competitive and stand out from your competitors, here are a few tips:
- Consider investing in social media advertising and PPC. These are both important tools for customer acquisition and can help you tremendously in generating new leads. However, beware that this is not a simple task. If you are investing money into ads and clicks, then it would be highly recommended to hire the digital marketing services of an agency to help you get the most value out of your investment.
- Integrate email marketing into your marketing strategy. As seen by the stats, email marketing is very underused (only 27% of SMB use email marketing). The main benefit of email marketing is that it is highly targeted (given that you have a list of quality leads).
Remember, digital marketing trends will continue to evolve and WILL NOT wait for you. If you do not have the time to invest in digital marketing, then you should consider working with a digital marketing agency to craft and execute your strategy. The ROI on your investment will be 10-fold!