According to Google, nearly 97 per cent of consumers look online while searching for a local business, which makes a digital marketing strategy crucial for any business, no matter who is their target audience.
So, clearly, any startup, small business or enterprise that underestimates the power of social media is missing out on a huge opportunity!
Here’s how a strong online presence can work wonders for your startup.
Social media is the easiest and most cost effective way to generate awareness about your product or brand. Having quality online content will help you in attracting potential customers, even if you are relatively new in your niche market. It can also help startups connect with potential stakeholders in the business such as employees, as well as investors, if used effectively.
Create a strong brand
Social media can help in creating a strong brand presence, as it helps in reinforcing your business. It also helps in connecting with consumers and engaging with them. Businesses can devise online marketing strategies that can help them in establishing their presence globally. It is a great tool for building relationships. If customers know who you are they will search for you on various platforms that will, in turn, drive traffic and help you in building your brand.
Reach more customers
With the growing penetration of smartphones, customer’s preferences have shifted online. The internet never sleeps and basically provides a virtual 24-hour showroom for your enterprise, so customers don’t have to wait. Customers can easily place orders 24×7 online, which can lead to more sales for your business. With everything online, easy accessibility is one of the main driving factors for businesses today.
Encourage customers to buy more
According to research, customers who purchase online are likely to buy more than those who visit brick and mortar stores. The ease of purchase is one of the reasons behind customers are buying more online. If they have to wait to buy a product in a brick and mortar store, the urge to purchase passes. The convenience of going through online listings to find a product is very high online, thus leading to better customer satisfaction.
Minimise advertising costs
By blogging or creating a website, your business can increase visibility, which may not be possible otherwise, except if you have huge resources to spend on advertising. Going online is one of the most cost-effective ways for brands to build their presence. Apart from providing information about your company, social media can also help brands offer better value to consumers by providing them with information about their market or even how particular products can help them.
You can reach a more targeted audience with digital marketing tools that automate and segment your marketing. Targeted content marketing campaigns gain more conversions and loyal customers because these are likely to appeal to users who are already interested in what you have to offer.
You can easily track the performance of your business by adding Google Analytics and other analytics solutions to your website. These will keep track of customers’ buying behaviour, get an idea of which products are popular, and thus enable you to create a marketing strategy accordingly. This helps you drive sales and focus marketing efforts on more important things.
Most importantly, your competition is online and social
Business ventures small and large must remember that having a social presence is not an option any more. Rather, it has become a necessity. If you are still not engaging your audience in social channels, you should worry because all your competitors are definitely there. Having a powerful social presence is key in growing mindshare and market share.
Driving a strong social media presence is cost-effective, but it can reap huge rewards in terms of visibility and revenues for your business. Your next potential customer, employee or investor might be looking for you on social channels, and being part of the competitive startup ecosystem, you can’t afford to miss them. Digital engagement will make your brand and product more appealing to existing as well as potential customers, and it can help you reach a global and targeted market without having to spend too much moeny and effort.
Vikram is Co-founder, Chief Mentor & Accelerator Evangelist at GHV Accelerator
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