The US small business administration defines the term “Small Business” to simplify its understanding. According to there definition, any trading activity of goods and services with an organization that has less than 500 employees known as a small business. With the definition, the term covers a broad range of business types. In the US, there is never been a shortage of small business. More and more small businesses are opening every day with more possibilities and opportunities. The following insightful statistics provide you an idea of the latest trends that have been evident in the last few years.
Statistics of small business
- Every month, over 543,000 new business is commenced.
- Above 99% of the US, employers are the owners of small businesses.
- About 57 million people of the US population are engaged in small business.
- In small businesses, 395 are being present in business for three years or less.
- More than one-third of the small business owners are confident about their future in the business.
Digital marketing in Small Businesses
When we analyze the growth in the last decade, one can witness a radical shift from analog to digital and the rapid evolution of digital marketing. The growth and popularity of smartphones and technology made people more exposed to online information and facilities and this turned out to be the best way for small businesses to reach their target audience. When digital marketing becomes a potential strategy for growth to the marketers, it turns to an innovative platform for the customers where they become the priority.
When it comes to small businesses, digital marketing let them make a mark and made a competitive advantage in the industry. To explain this, one must comprehend the market landscape in which small business, with limited budgets, is competing. In an age, which is exclusively preoccupied with technology, digital marketing helps them to make their deal with larger corporative businesses and national and international brands who have larger budgets. It allows them to go with the requirements of customers in a cost-effective way.
Before we proceed, we need to highlight one issue faced by many business owners like you during online business activity. Nowadays, the management of clients contact details is important for every type of business. Your marketing team gets harassed when they did not find customer details instantly in one place. Your sales team find it difficult to convert leads into a customer when they don`t have a customer journey of becoming leads to prospects. Therefore, Customer Relationship management software like HubSpot is helpful for an organization. It assists the business owner in managing contacts, operates campaign, email management, social media sharing, content management, and analysis in a single platform.
Altering Trends in Digital Marketing
Like the preferences of customers change with time, digital marketing trends also change quickly. To remain competitive in the market, small business keeps them update with the new strategies and customer preferences brought by every year. These trends grant them to ramp up their marketing and thereby the business and make it meet an edge. So, if you are looking for the top trends in internet marketing in 2019 here are some:
1. Social media strategy as the audiences or customers spend most of their time in these networks.
2. Content marketing which is often considered as the future of digital marketing can create a viral effect and a great exposure.
3. Email marketing which improves the relationships between prospects, leads, and customers. Business can use email marketing software like Get Response to manage their email related activity. Get Response is one of the most dedicated and leading customer-centric and helped large to small businesses to accelerate their growth. You can check their email marketing services to avail best plan for your business.
4. Mobile-Friendly designs which increase the visibility of your business. Smartphones are increasing tremendously and a mobile platform can effectively increase the conversion rates of your business.
5. Coupon code and discount that acts as an additional reason for the customers to choose your products. It offers customers an incentive to buy and is advantageous for both customers and owners.
6. The on-site blog is a new marketing tactic to ensure that the traffic is driven back to your website by rendering an opportunity to display effective content for the customers.
7. Customer reviews are one of the recent trends in online marketing which heavily influences the buying decisions of customers and also aims at on-site ranking benefits.
Benefits of Digital marketing
Digital marketing gives such exposure to your business as the potential customers who are found online is a much larger community. That is digital marketing takes you to the tremendous audience, that too in cost-effective ways and generates better results. Some of the advantages of digital marketing for small business are shared here:
- Provides a number of growth options.
- Allows to interact with the customers and learn their expectations and what they are really looking for.
- Renders huge customer support in the industry and offer an authoritative position.
- It enables you to reach the global marketplace rapidly and effectively.
- Unlike traditional marketing strategies, digital marketing saves your money and make the business reach more customers.
- Helps to create brand loyalty by allowing transparency between the audience and the business owners.
- You will get the reviews and responses to your services immediately, which will help you to improve the same.