Online marketing contributes to small business growth
Small business don’t just compete with national brands – they also vie against other local companies for the business of customers. In an effort to position themselves as market leaders, more than half of small businesses have implemented Internet marketing methods to gain a competitive advantage, according to a study from Inc. However, many local companies are still lagging behind in terms of online advertising adoption, and there is room for improvement.
Large companies have grown accustomed to digital marketing over the years while small businesses continued with the same traditional advertising strategies, thinking online marketing was too big and too expensive. Yet the huge growth of Internet marketing has led these strategies to become more affordable for small-business owners, and consumers are using the Internet to a higher degree – giving SMBs no reason to continue ignoring the power of advertising on the Internet.
Small-business owners who were using online marketing techniques wanted to increase sales, boost consumer engagement, drive brand awareness and get new customers. In addition to these primary benefits, online marketing gave small businesses a way to generate leads and outpace competitors.
Reasons small-business owners avoid online marketing
Marketing can be a challenge for small companies because owners think it will be expensive and time-consuming, according to Business 2 Community. However, small businesses can find success when using online marketing tailored for them, and there are many solutions available to fit a limited budget.
Online marketing helps small businesses grow
Although small-business owners are sometimes resistant to move online, it can have many benefits to profitability. According to the Inc. study, some companies can significantly increase sales through the use of online marketing. Companies can achieve substantial gains in both sales and customer loyalty by interacting with consumers through online channels.
One of the best advantages of Internet marketing for small businesses is they can significantly expand their reach without overextending their budget or taking too much time from staff members who need to perform other tasks. Without Internet marketing, local companies may be confined to a very small area with no hopes of expanding their client base. By switching to online advertising, small companies can target consumers located slightly farther away and potentially grow sales trough tapping unrealized customer markets.
Unlike large companies, small businesses usually cannot afford to have a staff member dedicated entirely to managing marketing efforts. If owners are responsible for handling advertising themselves, marketing could fall to the wayside. With the ease of automation from Internet marketing, it requires less effort to keep up with customers and increase brand awareness. Online marketing can give small companies many advantages.