For years, small businesses had a dark cloud hanging over their heads. Today, however, things are looking much better. Thanks to advances in technology and a recovering economy, small businesses have more opportunities to shine than ever before.
According to the recent Small Business Health Index survey by CAN Capital, small businesses are looking to promote growth—and the majority of small businesses (38%) are doing it through new forms of advertising and marketing strategies.
From online advertising to email marketing, small businesses are leveraging marketing strategies that were once only accessible to larger organizations. That’s because today’s digital landscape is leveling the playing field, allowing small businesses to cost effectively reach and communicate with a larger audience.
So how can small businesses leverage these “new” marketing strategies to help generate growth and boost their bottom line? Try the following:
Believe it or not, online advertising—such as banner ads, pay-per-click ads, AdWords ads, and more— can be much more cost-savvy and effective than traditional mass marketing techniques, such as radio spots, billboards, and television ads.
Today’s consumers spend more time on their mobile devices, meaning online advertisements have a better chance of being viewed than a television or radio ad. What’s more, online ads are up and running 24/7, which gives businesses round-the-clock visibility.
Email marketing allows small businesses to build direct relationships with current and potential customers. Additionally, email marketing can be cost effective and simple to use. The majority of email marketing services offer professional-looking templates that are easy for small businesses to fill in with branded, engaging content.
According to the 2015 State of Marketing Report by Salesforce, 73% of marketers agree that email marketing is core to their business and 20% of marketers say that their business’ primary revenue source is directly linked to email operations.
Today’s business decision-makers prefer to get company information via content versus in an advertisement. Content marketing—or the creation and distribution of engaging content for the purpose of attracting leads—can be a simple and effective way for small businesses to spread brand awareness and establish thought leadership.
What’s more, it’s much more cost effective when compared to outbound marketing. In fact, inbound marketing-dominated organizations experience a 61% lower cost per lead than organizations that predominately leverage outbound marketing (direct mail or paid search), according to research from HubSpot.
Search Engine Optimization
Search engine optimization (SEO) — or the process of generating organic traffic from search—can be another cost-effective marketing strategy that helps small businesses increase brand awareness and boost website traffic.
Getting to the top position on the search engine result pages, for example, enables small businesses to get right in front of their target audiences’ eyes. What’s more, it can result in significant traffic increases for your website.
Small businesses have more cost-effective marketing strategies to choose from than ever before. When implemented properly, these marketing strategies can help small businesses reach their goals and grow their bottom line.