Maximizing ROI with Target Digital Marketing Strategies for Small Businesses
Marketing is crucial for your business to reach your goals and potential. The most relevant marketing in today’s day in age, is digital marketing. Recent studies have shown over 311 million people in the USA are online. That’s a huge market to tap into. If your business does not have an online presence, you’re missing out on all of those potential customers.
However, it can be taunting and feel expensive. Some Google ads can cost as much as $10,000 a month, it might seem out of reach for a small business. This might make you question how your business can grow its digital marketing without breaking the bank.
We’re here to dive into strategies to increase your brand awareness, reach your target, and maximize your return on investment.
Can Small Businesses Maximize Their ROI with Digital Marketing?
Creating brand awareness is key to reach your target goals and increase your sales. Even as a small business, you can maximize the return on investment (ROI) through marketing on digital platforms.
There are many benefits to digital marketing. It’s shown to have a high conversion rate. Leaning into this opportunity will allow you to not only reach your customers but also increase your sales. But, it’s important to use the right strategies when approaching digital marketing! Let’s discuss what these are.
How to Maximize ROI with Targeted Digital Marketing: Best Strategies
- Content Marketing
One of the most effective target digital marketing strategies is creating content you can post online, this will show your expertise to your audience. You can become a subject matter expert to your customers through writing a blog. Make sure you’re writing about relevant topics that will help your customer. Alternatively, you could hire a content creation company to write these posts.
As long as you’re posting frequently enough (2 – 3 times a week), you'll attract your customers and naturally promote your products and services. Then, you can boost it by posting about it on your social media accounts.
- Search Engine Optimization
As a small business, you can use search engine optimization (SEO) to build brand awareness effectively. search engine optimization refers to the tailoring of content for the websites you use to search for information. Though there are few of them out there, such as DuckDuckGo and Bing, according to reports Google receives around 96% of search traffic from phones.
To optimize your content for Google, you need to:
- Use keywords correctly
- Tailor your content to your target
- Include links to your content
- Include links to outside sources
- Post regularly
Following these steps, Google is more likely to put your links at the top of the search results, making you more visible to your customers.
- Email Marketing
Another way you can effectively reach your audience as a small business is to use email marketing. This strategy requires planning since you need to create content that is engaging, informative, and gives your mail list an action they can take.
This is easier to implement if you have a website, blog, or some other way to receive email contacts. Plus, if you have a website or blog, you can pair it with this strategy by emailing about your content creation.
One thing to remember: Don't spam your mail list. Otherwise, you may lose potential customers, and the mailing service may ban you. To avoid any issues, you can use email marketing tools and follow their advice.
- Location-Based Marketing
Your small business can maximize its return on investment with a location-based marketing strategy. This strategy consists of submitting to location search engines:
- Contact Information
- Website Link
- Products List
- Services List
Additionally, you can prompt customers to leave user-generated content such as reviews, ratings, and pictures. This information could convince your target also to try your business.
- Social Media Interaction
Social media is a great tool for targeted marketing strategies. As a small business in particular, you can use these platforms to interact with your target. According to studies, you only need 6 hours a week on a social media platform to have a high likelihood of increased traffic.
To interact with your target, a digital marketer can set aside an hour a day to interact through your business' social media. Alternatively, you could use a few minutes, multiple times a day. Additionally, you should stay up-to-date on current trends and automate some of the social media interactions.
Overall, targeted digital marketing strategies can help your small business maximize your return on investment. Through digital platforms, you're able to reach your customers. However, the content you create to reach your target must be searchable, relevant, and informative. Make sure you’re using your digital presence and platforms to boost your content, email mid-funnel content and interact with your customers. Put yourself in their shoes and think of what they would want to learn about.
Understanding Your Market
The success of any startup relies heavily on understanding the market it operates in and identifying the ideal customers within that market. Understanding your customer and becoming a subject matter expert is key, especially at the formidable stages.
By having insight into potential customers, you know what problems you should be solving with your product and how to communicate in a way that appeals to them.
The market is the broader industry that you serve. The ideal customer dives deeper into who your product is the best fit to serve. It's a way to segment your customers.
You might not know who your product best serves yet, and that is okay, but it's important to hypothesize and test who is.
Make some assumptions about what would make a customer a good fit for your product and test those assumptions otherwise, use your current customer base and data to guide you.
Here are some of the key steps to understanding your market and identifying your ideal customers:
Understanding Your Market
1. Research industry trends and news: Stay updated on current and emerging trends in your industry. Search Google news, read articles and follow the right people on social media to gain insights into customer preferences and potential opportunities.
