3 Reasons Why Small, Local Businesses Need Digital Marketing
As a business owner, you’ve probably asked yourself 28,452 questions (and then some) in your journey to creating a successful business.
And if you're a small, local business owner, one crucial question has likely crossed your mind:
'Does digital marketing truly make a difference for my business?'
Let's cut to the chase: Absolutely, unequivocally, YES!
Digital marketing is a game-changer, especially for small, local businesses - we'd be in the wrong business if we said otherwise.
But let’s break down why digital marketing is important for small, local businesses.
While there is an exhaustive list we could explore, we’ve highlighted the top 3 reasons why small, local businesses need digital marketing.
Reach Your Target Audience in the Right Place, and at the Right Time
Gone are the days of wandering through local streets to discover businesses. In today's digital age, consumers embark on their shopping journeys online - at least for 63% of all consumers. An illuminating 2023 study further revealed that a staggering 81% of retail consumers start their shopping journey online.
Think back to your last search for a new product or service – chances are, your trusty pocket-sized computer guided you through the vast expanse of the World Wide Web.
However, the digital expedition doesn't stop there.
Another study discovered that 74% of consumers rely on social media to make informed decisions regarding business purchases.
The roots of digital marketing extend to the 1990s, when it first began revolutionising consumer behaviour. Its ever-evolving nature underscores the importance of crafting effective strategies to achieve your business goals. Check out the first digital marketing banner ads to hit the world wide web.
Strategically positioning your business within the digital sphere, and in the right digital places, not only increases visibility to potential customers, but also enhances the likelihood of converting your target audience into customers.
Furthermore, with the right tactics and techniques, you can use data from your digital channels to refine and personalise your audience's overall experience, getting to know them better and improving how you engage with them.
Tailoring your approach to the demographics of your locale is essential. For example, if your customer base mainly comprises individuals aged 18-25, platforms like YouTube, Facebook, TikTok, and Instagram are your prime targets. In South Coast communities, especially in East Sussex and Brighton and Hove, where the average age stands at 42.7, focusing on platforms like Facebook and Instagram is key to reaching your audience effectively.
An integrated digital marketing strategy is paramount. It entails a 360-degree that seamlessly blends your strategy across all channels, both online and offline. This dynamic approach ensures your business connects with your target audience at precisely the right moment and in the right ways across all channels.
Still not completely convinced? Perhaps a deeper dive into the statistics might sway you:
A remarkable 97% of users initiate searches for local businesses online. (Source)
A whopping 77% of businesses harness the power of social media to connect with their customers. (Source)
Digital advertisements elevate brand awareness by a staggering 80%. (Source)
A noteworthy 93% of customers rely on online reviews before making a purchase. (Source)
An impressive 76% of social media users have made purchases based on items they encountered on their favourite platforms. (Source)
An extensive 2023 report highlights that marketers effectively utilise an average of four distinct marketing channels. Of these, social media reigns supreme, leveraged by over 42% of marketers, yielding the highest return on investment and projected to grow significantly in the coming year. You can delve deeper into these insights at HubSpot's Marketing Industry Trends Report.
2. Cultivating a Clear Brand Narrative
At SoCo Marketing Collective, we truly believe that local businesses help bring a certain charm, character and individuality to our communities that bigger, commercialised entities do not. We also believe that local businesses have unique narratives full of depth, history and passion.
Digital marketing provides endless opportunities to share your brand's story.
But, it also brings many complex intricacies that can make it challenging.
But fear not, we're here to help unravel it all with you.
In the modern landscape, consumers are increasingly drawn to stories and authenticity from brands. Captivating brand stories have been proven to boost customer loyalty by a remarkable 20%, according to one report. In fact, 68% of consumers admit that brand narratives influence their purchase decisions.
Storytelling is ingrained in human nature, making it no surprise that consumers are naturally drawn to brands that craft engaging narratives. Check out this article for more insights on storytelling.
Another notable aspect of digital marketing is brand reputation management. Digital channels have empowered consumers with information and choices. They also provide a direct line of communication, enabling reviews, direct messaging, and comments on businesses.
Consumers wield significant purchasing power and multiple avenues to interact with brands. Neglecting your digital channels can be detrimental to your business, potentially creating a double-edged sword if customers perceive you as inattentive.
The impact of digital marketing in brand building is evident, with a remarkable 94% of business leaders reporting that social media marketing enhances brand loyalty and reputation.
3. Measuring KPIs and Enhancing Performance
One of the standout advantages of adopting digital marketing is the capacity to establish a valuable library of data and key performance indicators (KPIs). These KPIs serve as compasses guiding your small, local business toward optimisation and improvement.
While it's possible to track KPIs and gather data through offline means, it pales in comparison to the ease, capabilities, and advanced insights offered by contemporary online performance tracking tools.
Digital channels are teeming with a rich array of metrics, providing essential insights into your business's performance with your target audience. This data reveals crucial information, such as the most popular products or website pages, the sources of high traffic and link clicks, and the content that most effectively resonates with your customers.
All of this data is indispensable for fine-tuning your digital marketing strategy, ensuring it aligns more effectively with your business goals and objectives.
It's worth noting that virtually every long-standing business - whether small and local or international and commercialised - owes its success to continuous growth, development, and evolution, often rooted in performance tracking.
Studies have shown the transformative power of social media data. In one instance, a compelling 92% of business leaders harnessed social media data to sharpen their competitive edge. Furthermore, 91% of these leaders cited social media insights as instrumental in understanding customers, enabling them to tailor their strategies to be more customer-centric.
Navigating the Ever-Evolving Digital Landscape
Whether you're well-versed in the digital realm or just dipping your toes in the water, it's essential to recognize that the digital marketing industry is in a perpetual state of transformation. Crafting a tailored digital marketing strategy that aligns seamlessly with your small, local business's goals and objectives is no longer a choice but a necessity in today's fast-paced world.
From mastering the intricacies of effective Search Engine Optimisation (SEO) for your website to staying up-to-date about the latest techniques for social media, the path to strategic success may seem bewildering, complex, and challenging. But, we promise, it’s worth every penny and pain point.
Empower yourself with the expertise of SoCo Marketing Collective as we guide you in shaping an effective digital marketing strategy tailored to your local business.
Don't forget to follow us on social media @socomarketingcollective to explore our wealth of resources and get updates on our upcoming blogs and freebies, including tips on choosing the right channels for your digital marketing strategy and uncovering the pivotal role storytelling plays in marketing your local business.
