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Should a Small Business Go Into Digital Marketing in 2023?

Updated: Jan 27, 2023

According to Data Reportal, 5.4 billion internet users, which is equivalent to 63 percent of the world’s total population, have grown by almost 200 million in just the last 12 months to April 2022.

In today's world, you can find everyone attached to a device and living literally in an online world; with everything being done at a fingertip from building a relationship to divorce, from buying to paying bills, from traveling to booking tickets, from working to learning any skills, and more.

People are increasingly living their lives more in a digital world than in the actual world. Technology has made our lives more convenient than ever before. If you are running a business and seek to disseminate your company to a wider audience, digital marketing can be the best option to learn and master in this new economy.

It will provide your business with better opportunities that can lead your products, and services to more sales and bring you more profit. Without an online presence, it will do your business a huge injustice since that means you will miss out on reaching millions of customers by spending a small budget and having some basic digital marketing skills. In fact, taking up a good digital marketing course in Singapore can cost you just a fraction of the price of how much you need to pay for a full-page full colour ad in the newspaper that will cease to exist after a day.

The list of advantages of digital marketing is enormous, however, in this article, we will share the three most impactful advantages of digital marketing:

1. Faster Brand Awareness:

One of the main priorities of the business in today’s digital world is to raise brand awareness as fast as possible. Brand awareness can spread around the world faster through social media because the internet and a smartphone are much more easily accessible compared to the past. A post or advertisement on a popular social media platform like TikTok or Instagram can reach millions of users quickly when it goes viral.

The beauty of it all is that the creation of a business page on most social media platforms is usually free of charge and helps your potential clients reach you easily from any part of the world.

2. Affordability and cost-effectiveness:

Every business is constantly looking at ways to reduce its costs. And the marketing budget is never spared when the cost-cutting measures are set in. Executing your marketing campaigns online can be way more cost-effective compared to traditional marketing channels if you know how to do it right.

Investing money to advertise your brand using various resources like TV ads, radio channels, billboards, and direct mail will usually cost a leg or an arm. Also as compared to a cheaper form of traditional media like having ads on magazines, flyers, and newspapers, running an ad campaign online has way more advantages.

For one, you will not have to be too worried when there is a typo in your artwork or copy. When you see a typo in one of your ads on e.g. Facebook, you can always go to your Ad Manager and have it changed immediately without much effort.

With digital ad campaigns, you are also able to track the performance of each and every campaign you have; from how well they convert traffic to buying customers to how many clicks they garner. To stop a non-performing campaign involves just a click of your mouse and can help to save the budget for the next performing campaign you have.

The amazing thing is that running a campaign on widely popular digital platforms such as Facebook and Google costs only a fraction of the price of a 15-second spot of TV advertisement with a wider targeted audience outreach. You just need to set up an account with a credit card and you will be on your way to reaching millions of specific audiences in any part of the world.

3. Building Long-Lasting Relationship:

Connecting to as many customers as possible is essential and not spending enough effort to build a good relationship with your customer can cost your business in no time.

By simply having a presence on the social media platform that your clients are in, you can potentially reach these people and build a long-lasting relationship with them with relevant content and engaging conversations.

Statistics have shown that 59% of Instagram users became more interested in a particular brand after seeing their video on Instagram Story, and 90% of users follow at least one business on the platform.

By having a good relationship with your consumers, there is a high chance to create brand loyalty resulting in repurchases. By connecting on social media and being responsive through liking, commenting, and posting, you can build trust and connection and grow your business in a way unthinkable in the pre social media era.

These days, savvy consumers are learning more about the brand that they are buying from through digital means and other customers' reviews. Having a strong online presence will better help persuade a purchase from a first-time buyer.

Compared to the past, digital marketing has made marketing more affordable, and effective, and provides long-term value over traditional marketing. It is also a faster way to reach a wider group of customers from places never thought of before.

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