The internet has changed all our lives, and business models on which we rely completely are now influenced by the virtual world. E-commerce, online marketing, blogging, and social media have all developed in line with the digital revolution. However, just because the economy is shifting to the online sphere, it doesn’t mean that all businesses will be able to adapt right away. Those that don’t change with the times risk becoming obsolete, and this can lead to huge problems for business owners.
Why Are Small Businesses Thriving Thanks to Online Marketing?
The last few years have seen a rise in popularity of small businesses across the globe. Many traditional businesses have adapted to the digital world and have recognised the power of internet marketing to grow their reach.
According to the U.S. Small Business Committee, there were 23.9 million new business accounts registered with the IRS in 2017. This was compared to 16.4 million in 2011 and 11.8 million in 2015. If you’re looking to register your business or looking to grow your business, now is a great time to do so. In 2019, there will be a variety of companies that can help you get started, and then you can perform a search online to find the right business software for your specific needs.
The Rising Popularity Of Online Marketplaces For Small Businesses
E-commerce and online marketplaces have risen in prominence as a way of doing business, particularly as a tool for small businesses to utilise. Businesses can sell their goods and services online, gaining access to a wider audience and increasing their conversion rates. What’s more, online marketplaces make it easier for businesses to find the right customers, as they can target the demographic more effectively and efficiently.
According to the U.S. Small Business Committee, only 9% of the businesses they survey reported using online marketplaces effectively, while 28% said they used the platforms but didn’t stand out as effective. This suggests that there is still plenty of opportunity to expand the reach of online marketplaces, particularly for small businesses.
The Benefits Of Online Marketing For Small Businesses
Online marketing offers huge benefits to businesses, particularly small ones. Here are just a few of the advantages:
- Increased visibility – by being online you’re more visible to potential customers, who may come across your page or website in their search results.
- Better conversion rates – online marketing allows you to target the right audience, who you know will be more likely to buy your products or services.
- Reduced operating costs – with no traditional overheads like print and TV advertising, you’ll be able to save money.
- More opportunities for expansion – with greater visibility comes the opportunity to gain new customers, whether you have an existing customers who want more or want to find your products or services on their own.
How To Effectively Utilise Online Marketing For Your Business
Whether you’re just beginning your journey or you’ve been operating for some time, you should consider investing in online marketing. Although the internet has always been a place where information can be gained, these days it’s also a place where businesses can be found, and it’s a great place for consumers to research their purchases before making a purchase. In addition to this, web analytics and search engine optimisation make it possible to track the success of your online marketing efforts and then adjust your strategy accordingly.
In order to get the most out of your online marketing, you should look to implement these efforts across all platforms. When possible, use all the tools that your chosen platform provides. Don’t just focus on one or two tools, but rather explore what the internet can offer you.