Why small to medium sized businesses need to invest more in digital marketing in 2017
Where does digital marketing feature in your 2017 marketing plans?
"You need to spend money to make money." But for many small and medium sized businesses this is difficult to follow - often it's a case of how to spend less and make more. Have you thought about where you'll be putting your marketing spend next year?
Even when times get tough, it's important to remember how important the marketing portion of your budget is for survival. Don't ever stop promoting your business. When your marketing budget is small, make sure you make smart choices about your priorities, specifically the critical components of digital marketing.
Here's three reasons why you should consider digital marketing as your top priority.
1. The benefits of digital marketing are huge
Digital marketing offers more opportunities that traditional methods. You can show a higher ROI with digital marketing by using low cost channels like social media, as well as being able to quickly adapt your strategy based on data available from Google and social media. You're reach is also often bigger with online marketing when compared with traditional.
How do you measure the success of a magazine advert? It's tricky. With digital marketing not only can you track specific metrics to provide valuable and specific feedback for each campaign but you can also get quick boosts to business through the immediacy of online channels. How long do you wait to see what impact your sales flyers have had on prospects and customers? With social media, share buttons and more you can get your entire message circulated so much quicker.
2. More businesses want to invest in digital marketing
SEO (search engine optimisation) and paid search (PPC) are at the top of the list. Followed closely is investing in websites, social media and CRM (customer relationship management) tools. Don't forget the consumer either - websites and search engines are still seen as the primary driver when consumers are searching for local products or services.
3. The competition of digital marketing is increasing
Digital marketing spend is increasing with more businesses spending their marketing budget on social media, SEO and websites. Social media budgets are particularly increasing. The 2016 Social Media Marketing Industry Report released by Social Media Examiner found that at least 63% of marketers plan to increase marketing activities on Facebook
Ultimately, as businesses construct their 2017 marketing budgets the benefits of increasing their marketing spend will far outweigh any short term cost savings that come with reducing it. If budget only allows focus on one or two things, then concentrate on good content in a place where your customers are (your website, blog or social media remain top)
If you'd like help in constructing your marketing plans for 2017, contact us today
If you'd like to read up further on how to get business from social media read this.