Dear reader, congratulations on starting a new business. And if you are yet to go into business, kudos to you for making efforts to arm yourself with information about the importance of digital marketing for a new business Dear reader, congratulations on starting a new business.
And if you are yet to go into business, kudos to you for making efforts to arm yourself with information about the importance of digital marketing for a new business. Digital Marketing has changed the world of business in a rather spectacular fashion. It has created a world of exciting possibilities for business owners and marketers alike.
It is so influential and effective that even new businesses now have a way to compete with the big guns in their respective industries. This post looks into seven reasons new businesses need Digital Marketing to grow. Without further delay, let’s get the ball rolling.
Establish an Online Presence to Drive Growth
Thanks to the internet, billions of potential consumers throughout the globe spend hours online; as a result, the need for door-to-door marketing continues to decrease. The world is fast leaving behind the days of offline marketing, and it is no surprise. With offline marketing, there is a limit to the audience a business owner can reach (especially if the business is new).
Even if you attempted walking throughout Texas, it would be physically impossible to introduce your new business to 20,000 prospects. So, instead of readying a pair of thick-soled boots and a megaphone for a business promotion walk throughout your neighborhood, you can take your marketing efforts online.
The advantage of taking your marketing efforts online (digital marketing) is that there’s no physical limit to how many potential customers you can reach. Twenty thousand? Two hundred thousand? Two million? No limits! With Digital Marketing, your new business has a better chance of establishing a profitable online presence through strategically implemented campaigns.
Successful Brand Positioning
A common problem for most new businesses is figuring out the best way to stand out from the competition. Look at it this way: barring when you create something entirely new, you will have to compete with existing businesses that offer similar services/products as you.
One of the difficulties of competing with existing brands lies in convincing consumers that your offer is better. You also have to educate consumers about everything that makes your brand unique. So, what are you going to do?
Enter brand positioning. You see, what we have described above is a brand positioning problem. Brand positioning is everything you do to define your brand or business in a way that highlights its USP (Unique Selling Proposition), setting it apart from the competition. As a new business, it is imperative to implement a successful brand positioning strategy. Why?
Well, you need to show consumers you are better or different. You need to earn their trust and give them reasons to choose your business over the competition. And the only way to ensure successful brand positioning is through digital marketing. With digital marketing, you have resources that help you analyze your business and market behavior.
You can also identify pain points that need solutions. And you can use everything you learn to optimize your brand offering/messaging in a way that connects to consumers. Today, going about brand positioning without digital marketing is no different from attempting to fly an airplane without a pilot. That’s a recipe for disaster.
Better Lead Generation
Every business needs to generate leads to thrive. And it is more so for your business if it is new. Lead generation serves to get your services and products in front of a justified audience (people that want or need your products or services). In essence, it piques consumer interest in your brand.
If your strategy for piquing consumer interest is ineffective, your brand will not be visible to the justify people. Potential customers (leads) won’t find your business. Digital Marketing empowers you with the ideal strategy to identify and compel prospective customers with your brand offering.
It helps your business get seen and win more customers, thereby facilitating growth. In a world where major brands have the luxury of spending enormous budgets on advertising, digital marketing provides an affordable solution for visibility.
The best part is that it aligns with your business size and specific needs. With other businesses (both old and new) taking advantage of Digital Marketing to generate leads, you stand little to no chance of succeeding without it.
It is no secret that businesses need sales to grow. If you think about it, no one goes into business with no intentions of making sales. That’s how important sales are for business success.
For a new business, the need for sales is even greater. Without sales, there will be no revenue to sponsor marketing and business expansion efforts. To avoid such limitations, brands use digital marketing to boost engagement, identify the ideal audience, generate leads, and generate sales by converting high-intent leads.
The accessibility of digital marketing makes it perfect for your new business. You can easily take advantage of PPC Ads, social media ads, and email campaigns to drive sales. According to a Screwpile Communications study, 8 out of 10 sales reps relying on Social Media outperform those who don’t. And that’s just social media. There are many other ways in which digital marketing can help you increase sales.
Lower Running Costs
The one thing you have to avoid when running a new business is waste. The goal is to nurture your business, so you cannot afford to be wasteful. That is not to say you shouldn’t invest in undertakings that will help grow your business.
For example, investing in marketing is a necessity for business growth. But there is wasteful/expensive marketing and cost-efficient marketing. An example of marketing that can be both wasteful and expensive is traditional marketing. Traditional marketing utilizes channels like television, radio, and print.
And given the scarcity of available space on these channels, using them to run marketing campaigns can be ridiculously expensive. On the other hand, you have digital marketing, which is far more cost-efficient. And that is because of the availability of numerous tools and channels you can use for marketing. Some of the tools are even free to use.
Alongside cost-efficient marketing, digital marketing can help you identify and implement cost-saving service delivery methods. If you need a sure way to save business costs and maximize returns, digital marketing is the best option for you.
Lower Customer Acquisition Costs
Yes, we are looking at lower costs again. But this time, it is with customer acquisition. Does a new business need to acquire customers? Well, yes! Zero customers equal zero sales. Every business owner knows that.
What is still unknown to many business owners is that, unlike traditional marketing, digital marketing offers many inexpensive customer acquisition solutions. Where traditional marketing channels fall short in reaching potential customers with user-specific messaging, digital marketing excels outstandingly.
You can use channels like social media to target prospects with ads that are relevant to them. Those prospects are more likely to convert into loyal customers because your ads speak directly to them.
Another benefit of digital marketing is the amount of flexibility it affords with customer acquisition costs adjustment. In simpler terms, you are free to work with a budget that reflects the financial position of your new business.
Do you know how your car’s dashboard tells you what’s going on as you drive? It lets you know when there is or isn’t enough gas. It provides information about how fast or slow your car is traveling. In summary, it tells you all you need to know for a hassle-free driving experience.
Did you know digital marketing performs similarly to help your business? Digital marketing gives you access to tools that measure business performance to help you make data-driven decisions to grow your business. You can assess the effectiveness of any implemented campaigns.
You can gain insights into how a strategy affects your business positively or negatively and decide on the best next course of action. Where it gets more interesting is how you can do all these from a smartphone. Before the advent of digital marketing, measuring business performance was incredibly daunting.
It required too much physical and mental work. But today, you can do it all by looking at a screen. You get to save time, energy, and resources (and how you utilize these can determine the success of your new business).
Are You Ready to Use Digital Marketing to Grow Your New Business?
You have learned why your new business needs digital marketing, but you don’t want things to end there. You want to take the required next steps because you need to grow your business. Smart move. Here is the good news: you are justified where you need to be.
We (R3volution AD Services) are in the business of helping both new and older brands achieve their growth potential. We can provide the professional help and guidance you need to grow your new business.
Do well to hover over the service page to check our solutions and services. For now, feel free to leave any thoughts and questions you have in the comments section.