Why SMEs Should Invest In Digital Marketing
With the advancement and evolution of technology over the years all aspects of human society have changed drastically, including running a business.
In 2015, the International Telecommunication Union estimated about 3.2 billion people would be online by the end of that year. That was 3 years ago. More recent statistics show that the number has now grown to over 4.1 billion. That is over half the population of the world. If you see someone walking down the street in front of you, they’ve most probably spent some time online today.
An SME today can easily turn into a fossil if it hasn’t optimized its marketing strategies incorporating technology. Most startups and SMEs ignore marketing as it seems like an unnecessary added cost. Digital marketing is not only cost effective, but at the same time also increase potential customers reached. Businesses that make efficient use of these digital marketing techniques consistently edge out their sole Brick-and-Mortar competitors.
So what do these statistics mean for small businesses? They show that using online marketing strategies have become a necessity in this digital age. The population of Facebook alone is over 2.2 billion. There are companies that have invested their efforts marketing only on Facebook and increased their sales ten-folds, and there are many more such channels for a business to utilize. The return of investment in this space is incredible.
For an SME that has never explored the idea of digital marketing, all of this may seem too good to be true. The steps are simple: build traffic, gain subscribers, and drive sales. But as with everything else, there are caveats. Digital Marketing does take a lot of time, investment, and resources. It can also be difficult to find the right people to handle your brand’s digital experience.
- SMEs can exponentially increase their presence in the market.
- The growing and lucrative online marketplace can be capitalized upon.
- The Internet can be used as a powerful brand-building tool.
- SMEs can generate better revenues.
- SMEs can grow their businesses beyond their borders.