Updated: Jul 8, 2020
In the United States, 88% of businesses have fewer than 20 employees, and nearly 40% of all businesses make less than $100,000 in revenue (1). For many businesses, it is not feasible to hire a full-time marketer, however there are still small steps businesses can take online to have a great impact on their business. Here are four reasons that more small businesses should be marketing online.
1. Builds credibility
We live in a digital age, where the world is at our fingertips and information can be found in a matter of seconds. Sometimes you may see or hear about a local business, want to look them up online to see if they are trustworthy, and find little to nothing on them. How likely are you to want to take your family to that place? However, if there is a small business with a Facebook page, Website, and many reviews, you may be more likely to visit for the first time. Having an online presence for your business helps build credibility for your potential audience to be more apt to visit or learn more about your business.
2. Opportunity to reach a larger audience
How often have you Googled “Good coffee shops nearby”, “schools in my city” or “workout centers in Kansas City”, and you have looked over some of the most popular results. Having an online presence and claiming your business on different search engines (Google, Bing, Yahoo, etc), can open up your business to a much larger audience. Rather than relying on word of mouth or print advertising, online marketing can present your business to millions of people with a minimal cost.
3. Helps you stay better connected to your audience
Depending on what industry you are in, acquiring a new customer can cost 5-25 times more than retaining an existing one (2). Staying connected and keeping your current customers happy will help you save money and increase your profit. According to a study done by Frederick Reichheld of Bain & Company “shows increasing customer retention rates by 5% increases profits by 25% to 95%.” Through social media, you are able to stay constantly connected with your audience even if they are not physically with you.
4. Online marketing often comes with little to no cost
Setting up social media accounts for your business may take some time however it is free! You don’t need to open an account on every social media platform, but you can pick one or two you are comfortable with and start there. Starting up a website can also be free, or you can simply create a landing page that has an overview of your business. Compared to the cost of traditional media, including newspaper ads, radio ads, flyers, etc. digital marketing can save a lot of money.
If you are interested in getting more information on how we can help you with online marketing, through social media campaigns, website design, or for a consultation, email me at KayCreative2020@gmail.com or visit the "Contact" page.