Why SME's Can't Survive Without Digital Marketing
Digital marketing is crucial to the success of any modern business, but its importance is especially relevant to the success of small and medium-sized enterprises (SMEs). According to statistics from FSB, this type of business made up more than 99.9% of all UK companies in 2018. SMEs play a crucial role in driving the economy, but they often lack the resources available to larger businesses and major corporations. This has an effect on their ability to capitalise on the opportunities offered by the online marketplace. In a time where an increasing number of businesses is seeing their revenue streams shift towards online sources, SMEs are nonetheless expected to make the most out of their online efforts – which is exactly where digital marketing comes in.
Why Digital Marketing Matters
The idea that the online marketplace is becoming an increasingly important element of business strategies is nothing new. In fact, its importance has been growing significantly for many years, and the trend shows no signs of slowing down. According to figures supplied by Statista, the UK’s e-commerce sales revenue stood at more than £586 billion in 2017, having increased by around £80 billion in comparison to the previous year. Digital marketing services come in all shapes and sizes, but their main goal is to enable businesses to reach their online audience more effectively. A comprehensive digital marketing plan will often incorporate several different services, which may include SEO (Search Engine Optimisation), PPC (Pay-per-click), content marketing, influencer marketing, email marketing, social media marketing and more. Having said that, investing in just one or two of these channels can already help businesses reap the rewards of the online marketplace.
The Benefits of Online Marketing for SMEs
In the case of SMEs, online marketing can have significant advantages in comparison to more traditional methods. Here are just some of its many benefits.
The decision to concentrate marketing efforts on the online space can help SMEs save precious resources by enabling them to reach a larger audience with a relatively smaller investment. For this reason, a wide variety of SMEs chooses to call upon the expertise of a digital marketing agency to ensure their marketing efforts are conducted in a cost-effective way. With the right expertise behind them, this approach can help SMEs maximise their return on investment.
Potential To Create A Global Reach
The digital sphere offers small businesses the opportunity to enjoy a global reach, a feat that is significantly more difficult to attain through other channels. With many customers taking to the Internet to find the products and services they’re looking for, businesses are expected to establish the online presence needed to meet these demands effectively. No matter what your business activities may be, the online demand for your services is there waiting to be met.
Ability To Monitor Investment
Marketing digitally also makes it easy for businesses to monitor the success of their investments. There’s a diverse range of tools available to do just that, which especially benefits SMEs whose resources are limited. From tracking the way in which customers engage with your business to keeping an eye on the activities of your competitors, the digital sphere offers all of the information you need to stay on top.
No business is exactly the same, and the same can be said for their target audience. Customers can have many different reasons for expressing interest in a specific product, and their choices are often also guided by demographics such as age, gender and location. Digital marketing offers a variety of tools that make it easy for business owners to target the specific audience they want to reach, ensuring resources are directed towards the right areas at the right time. In doing so, it offers significant advantages over marketing tactics that have less targeting potential.
Online customers are known to experience a personal connection with certain brands, which can pave the way towards establishing customer loyalty. Online channels offer businesses many different ways of developing their own unique brand, which can help them match their online content with the needs of their specific target audience. Successfully establishing your brand identity online can go a long way in gaining long-term customers, maximising your chances of securing repeat business in the process. Digital marketing offers all the tools you need to set yourself apart from the competition in this regard, ensuring you can offer them a unique brand experience they won’t be able to find anywhere else.
The Future of SME Marketing
Online marketing is constantly evolving, and SMEs are ideally placed to capitalise on its ever-expanding potential. As the main driver of our economy, small and medium-sized enterprises have an important role to play in ensuring their business meets the needs of modern customers.
If you would like to learn more about the digital marketing services provided by Champions Digital, don’t hesitate to get in touch with our team via firstname.lastname@example.org. Alternatively, speak to a member of our team directly on 0845 331 30 31.