Why should SMEs invest in marketing?

Why should SMEs invest in marketing?

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As introduced in a previous blog ‘Making Marketing Digital- Social Media’, the most cost-effective option for marketing your small business is Social Media. However, there is more than meets they eye than just posting content and hoping someone will see it. So why should SMEs invest in marketing?

Amongst other things, paid online methods can boost the reach your business has, get to those target customers and ultimately increase leads. This is what I will focus on today.

Below are some benefits paid digital marketing can have on your business:

Affordable Advertising

As we move into the digital age, the marketing landscape is changing rapidly. There is no longer a need for mass marketing strategies such as flyers, newspapers, magazines and face to face selling.

As you would probably agree these methods are all relatively expensive and will not benefit your efforts as much as you would like.

Digital methods such as social media, online ads (pay-per-click), websites, emails and blogs are more cost effective in the long run.

The cost of paid advertising varies for each individual business and its circumstances, however the lifetime value of gaining customers makes this method worth it (in our humble opinion).

Return on Investment

The benefits that these new online methods have on your business are that you can track the performance of your newly found marketing efforts.

Google Analytics, Lead feeder, LinkedIn Campaign Manager, Twitter analytics and LinkedIn analytics gather data from websites, Social Media, and any other digital method you may use to demonstrate how your business is benefitting from your marketing efforts. The details are crunched and come out as a report. You can then easily analyse what is working, what not so much and thus redirecting your efforts elsewhere.

Investing in these programs give you peace of mind that your marketing efforts are reaping the rewards. Taking the time to consider various options available to you will enable your vision to become a reality.

Boosts Word of Mouth

So, you believe your product or service is already at it’s best and it generates a buzz on its own. Yes, this can create Word of Mouth alone without the need for paid advertising, after all Word of Mouth is free.

However, do you want to keep challenging yourself and allow your business to grow? Good paid advertising will increase the word of mouth that you have already achieved which results in more free advertising. Bonus!

Marketing investment for SMEs a is an exciting field with many opportunities for increased efficiency in building your customer base. The more innovative you are, the more affordable and effective you can be with your advertising, so give it a try.

Need access to funds to begin your new marketing journey? Head to the ‘apply now’ tab on our website to discover your eligibility.
Don’t forget to come back next week (Thursday) to find out the benefits of investing in purchasing equipment.

www.bcrs.org.uk

@B_C_R_S

@BCRS Business Loans

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