Today, in this fast-paced world, we have left past the ways used earlier for marketing. Now that we have entered the digital marketing era, the marketing strategies have redefined the way businesses promote their products, reach potential customers, and interact with existing clients.
With around 4.93 billion internet users worldwide and 3.5 billion using smartphones, digital marketing has become a must-do for every business owner across all industries. Today telemarketing, testimonials, and print ads are no longer the only effective methods to promote your business. Due to its significant impact on consumer behavior over the years, online presence is now considered a necessity among businesses, small or big.
If you are a small business owner and want to learn about the best ways to promote in the digital world, here are a few:
#1 Encourage word-of-click advertising
Word-of-mouth advertising is one of the best forms of advertising and the best ways to grow your small business. However, in the digital world, it is known as word-of-click advertising. Furthermore, it can be marketing gold.
The following are a few examples of word-of-click advertising:
- An email subscriber forwards your newsletter
- A visitor comments on your blog post
- A Twitter follower retweets your tweet
- A Facebook follower shares your post
#2 Focus on eCommerce
While eCommerce first emerged back in the 1990s, there are still a lot of small businesses that haven’t taken advantage of selling online. Unfortunately, these entrepreneurs miss out on growth opportunities. If you haven’t come up with an eCommerce website for your company, then it is time you step it up. You may need to hire a specialist or a renowned eCommerce marketing company in the USA, like Primotech Digital Marketing agency, to help you set things up. You will never be able to compete against other brands – let alone grow your brand – without a way to generate online sales for your business.
Here is a brief overview of the four steps required to set up an eCommerce site:
- Promote your brand to your target market.
- Get a merchant account from your payment processors like Square, Stripe, or PayPal.
- Create an online store.
- Decide on the products you want to sell online.
#3 Fund growth with creative funding sources
When the business grows, it requires capital funds. In addition to the traditional sources like selling equity and business loans, several creative funding sources can provide the needed capital to fund your growth strategy. Here are a few strategies to help you out:
Find a supplier willing to fund your inventory with in-kind inventory or consignment products.
You are selling your accounts receivables to financial firms known as ‘factor’ that will pay you money upfront in exchange for your future revenue from the receivables.
You are offering the investors a perk related to your company in money exchange.
#4 Hire people to grow your brand
While it is possible to grow your venture yourself, doing this could be a slow, long, and painful process. Since you do not likely want that, you must organize a team that can help you to execute a solid growth strategy.
For instance, you hire a virtual assistant that can free you from performing mundane tasks. This will help you spend your valuable time on more profitable endeavors like implementing and planning your promotional strategy.
Here are services that virtual assistants offer:
- Market research
- Managing correspondence with suppliers and customers
- Invoicing customers
- Content creation
- Appointment setting
While all of these tasks are crucial for the success of your small business, it doesn’t mean you must do it all. Therefore, it is better to figure out which tasks you must do yourself and which ones you must outsource to someone else to complete. Outsourcing will help you focus more on the tasks that need you to grow the startup.
#5 Create multiple revenue streams
It doesn’t make sense to sell just one product category, and you want to grow based on that. Therefore, you need to create multiple revenue streams to help you increase your small business. Furthermore, more than one income stream can protect your company’s overall profitability.
The ideas mentioned above are just the tip of the iceberg when discussing growing brands in the digital age. In addition, hiring people can help you grow, and you must make sure that they are the right people for the right jobs. The above tips are the best ways to help you promote your small business. You can always contact Primotech Services for more information and assistance.