How online marketing can help SMEs curb slump in growth
Are you experiencing zero growth, or even negative growth for your business? I’m sure you’ve heard of the SME Development Survey released last November; that a staggering 53% of SMEs are in the same plight.
If you haven’t caught this article on Channel NewsAsia, here are 4 key points you should take note of:
1) 68% of SMEs invested in in-house technology and innovation capabilities to curb the problem of increasing manpower cost.
2) Difficulty in hiring staff and manpower cost are the top 2 challenges for SMEs.
3) SMEs in transport and storage had it the worst, with 58% of companies experiencing negative or zero growth. This is likely due to a slug in global trade.
4) Service and productivity improvements receive top priority for SMEs to deal with the upcoming uncertainty in global economic conditions.
How can online marketing improve your business’s growth?
1) Generating leads
Customer loyalty and retention drives revenue. But what drives customer loyalty? Brand recognition. Online marketing can raise brand awareness with the right audience through a strategic display of paid advertisements.
Platforms like Google ads let you reach your target audience so that you can design your ads with them in mind.
When your target audience can personally relate to your brand, they are more likely to click on your ads. Us humans tend to gravitate towards what we like! (Research has proven that we make decisions with the same part of our brain where we experience emotions.)
But it doesn’t stop here. Lead generation is equally about your web page. In online marketing, we call it the landing page a.k.a the page your customer lands on after clicking on your ads.
The landing page is responsible for nudging your customer to sign up with you. Just imagine: you’ve clicked on an ad that has piqued your interest and bam! The next thing you see is a web page that looks like it belongs to the 1990s. Is the company even reliable?
It’s the same reason why we tend to gravitate towards beautiful or smart people – because they seem reliable!
2) Improving productivity and service quality
Tools like blogs and EDMs are becoming more popular with digital agencies because it is one of the most efficient and personable way of generating leads and sales. These platforms allow you to peacock your expertise and address your target audience directly.
Your target audience seeks you out because you value-add content to them. Why invest all your time doing cold-calling when there’s a more productive way?
Online marketing also includes data analytics so you can track the digital footprints of your target audience. Who-clicked-what says a lot about their preferences, and this creates a platform for you to consistently tailor and improve on your services.
Bottomline here: when social media and content marketing is done correctly, customers choose you and stick with you.
So… what’s the easiest way to do online marketing?
You can now generate leads with an online lead generation mechanism. This is a fuss free, one-stop solution for generating a constant influx of customers for your business through paid ads and a landing page.
Setting up this mechanism will help SME owners overcome their top 2 challenges.
1) You no longer have to worry about manpower cost. After claiming for PIC (read about PIC here), the cost per month of setting up the mechanism is equivalent to hiring a single professional for handling part of your online digital marketing efforts.
2) You don’t have to worry about hiring staff because the solution is readily available.
Learn more about Lead Generation for SMEs
If you are interested in setting up a lead generation mechanism, you can read more about it here: https://www.clicktrue.biz/lp/sme.html
Remember… with technology dominating today’s world, online marketing is a must for curbing the slump in growth for SMEs and generating revenue for your business.