Before diving into a plate full of turkey and mashed potatoes, small businesses owners should take a moment to acknowledge what they’re thankful for this year. Near the top of that list should be the ability to take advantage of all digital marketing has to offer.
In the past, local companies that lacked million-dollar marketing budgets were restricted to a few advertising options, all of which made it extremely difficult to calculate the returns on their ad spend. Today, businesses of all sizes can compete for eyeballs right alongside the major players in their respective industries. I’ll explain why the accessibility of digital advertising is something that everyone should truly be thankful for…this year, and every year moving forward.
1. No Cost-Prohibitive Barrier to Entry
Major corporations have advertising budgets in the millions of dollars. If a few dollars aren’t used in the most efficient way, it’s just not going to be that big of a problem. Small businesses, on the other hand, have no such luxury. Every dollar must be maximized in order to acquire new customers at the lowest possible cost.
Until somewhat recently, television, radio, and billboard advertising were the primary methods businesses employed to get their name out to the public. Because each is limited by time and availability of space, costs were simply too high for most companies to fit in their budget. Nowadays, a local business can reach thousands of people (not to mention, the right people) for a cost that was unheard of in the past.
Getting your brand in front of the people who are most likely to become a customer has never been more accessible, and it’s giving small businesses a chance to compete in their local market.
2. It Takes the Guesswork out of ROI
One of the quickest ways to hurt your bottom line is by spending your marketing budget in a way that isn’t generating any results. Today’s digital platforms, whether it’s social media, search engine marketing, or Google’s display offerings, provide a wealth of data that help you know when your efforts are paying off and make optimizations in real time. Not only that, but you can tailor campaigns to achieve a specific objective, whether that’s brand awareness, lead generation, website traffic, ecommerce sales, and several others.
Whether you’re working with $500 or $25,000 as your monthly ad budget, it’s crucial to know that you’re using that money effectively. Digital offerings give you the ability to monitor your results and make adjustments when necessary. This means less wasted dollars, higher return on your ad spend, and fewer headaches when it comes time to evaluate the financial aspect of your advertising strategy.
3. You Can Create a Dialogue With Your Audience
Building a brand that people are loyal to requires a back-and-forth conversation. When someone engages with a business outside of the standard seller-buyer interaction, it helps commit the brand to memory. This is why social media marketing has become a non-negotiable for businesses of all sizes.
Whether it’s responding to positive (and yes, of course, negative) customer feedback, letting your audience know about an upcoming promotional offer, or simply reminding them why they should check your brand out in the first place, there’s a much more personal feel with digital marketing than other mediums.
Brands need a personality in order to be relatable, and with the vast array of digital marketing tools at your disposal, you have the ability to bring your company to life!
4. Control Over Everything
Generally speaking, business owners tend to have a thing for control. And who could blame them? After all, they’re the ones who are responsible for the success of their company. With that in mind, digital marketing is ideal for those who like to have the final say on all of their marketing marketing and branding material.
From the website to the social media channels, a brand’s digital assets can make or break a company in the early going. That’s not an exaggeration – think of how many times you’ve landed on a website only to immediately think, “Nope, this isn’t what I’m looking for as a consumer.”
The power is in your hands when it comes to digital marketing. Say what you want, to who you want, when you want.
5. It’s the Future
About 10-15 years ago, newspapers started to see the writing on the wall: advertising wasn’t going to pay the bills any longer. Most consumers had changed their habits and were now relying on the internet to get their news. Of course, major publications would catch up eventually, but the ad revenue was no flowing throw a third-party.
Fast forward a few years, and television began to run into the same issues. Sure, people were still watching content, but it was now coming from streaming platforms. Their business model had to change to survive. Radio has experienced a similar fate.
It’s never a bad time for a history lesson, but the point here is that digital advertising is, for the foreseeable future, the most effective way to reach users where they’re spending the majority of their media consumption time: online!
Without question, there will be slight changes along the way, but interestingly, it doesn’t seem like digital marketing in its current iteration will become obsolete for quite some time. Investing resources, of both the time and financial variety, will be worth it today, and several years into the future.
In today’s marketplace, ignoring the potential of digital marketing is no longer an option. Entire businesses have been built on the back of hardworking campaigns, and there’s no reason that you can’t join the party.
As you sit around with a plate full of turkey, green beans, and cranberry sauce (if you’re into that kind of thing), start thinking about the message you want to showcase to your target audience and be thankful digital advertising gives you the opportunity to get it out there. If you need help finding the best strategy for your business’s goals, get in touch today for solutions that fit your budget.