How are entrepreneurs surviving in the digital marketing world?
With digitization touching new peaks every day, the marketing strategy is also affected. That has led to a dependency on digital marketing. The entrepreneurs who have adapted to it are reaping the fruits of their labor. On the other hand, the ones who are not yet into that might be in trouble. For me, as an entrepreneur, there has been no alarming thought on survival amidst tough situations. How?
There are some businesses in which an entrepreneur does not have much scope if he opts for digital marketing. If he still does that, the results do not make a major difference. For example, an entrepreneur who is into dairy farming business and has a limited territory of operation, say within a radius of 25 kilometers. Unless he significantly alters his business model, using digital marketing for that would be an extra cost with little to gain.
For the businesses where digital marketing impacts them directly, survival is easy for entrepreneurs who watch market trends and modifying their strategies. You can also call these strategies as current trends in digital marketing. They are:
1) Using the Power of Social Media
In the last few years, social media has emerged as a virtual meeting place. People like to spend time on these platforms. Social media is a source of entertainment, a place of interaction for people with common interests, a repository of valuable information, and much more. Social media websites such as Facebook, Instagram, YouTube, etc. are being used by businesses as well to make the best from them. In business, if customers don’t come to you, then you should go to the customers. The same principle applies to the use of social media for business. If used well, it could give good results to any entrepreneur, irrespective of their niche. The best part is that the budget can be as low as nothing, though your efforts and time will become the cost in that case.
2) Frequent Interaction With Customers to Make Them Feel Special
That’s a key factor for every businesses’ success. If you can please your present customers, then that is an investment for the future. For having a relationship with the customer, frequent interaction that is valuable for the customer is beneficial. As just one example, entrepreneurs have started using chatbots on their websites to have communication with the customers which makes a customer feel special through timely response and solution to the problem.
3) Email Marketing
You would be surprised to know that email marketing alone can result in more than 35% of the sales if used properly. Entrepreneurs are making use of it. Sending promotional emails, offers, and newsletters through email can be of great help.
4) An Impressive Website
As a step forward to digital marketing, entrepreneurs should get a website for their business. The website should be interactive, easily navigable, accessible, appealing, and should serve valuable content to the user. If you get that right, it could be a performance booster.
5) Video Marketing
Most entrepreneurs make videos for their brand or product promotion. Then follows the paid advertisements. Sometimes, customers share these videos that enhance the reach of the product.
Since this answer might get very long, I have mentioned only five trends above, but there are many. Please feel free to leave me a reply if you seek more information on any of the above.
Also, as I have discussed in the first part of the answer regarding my business, here’s a quick insight. If someone manages to get a website and has a good number of visitors on it, then it could be a personal money-making machine, even if you don’t make enough direct sales. The game revolves around getting traffic (visitors) to a website and earning ethically. I will again focus on that: Use ethical methods as they always take you higher in the long run.
For me, as an entrepreneur, the capsule for relief in the present times is One Minute Traffic Machines. I am sure that could be of great help to any entrepreneur who is into digital marketing or planning to get into it.
In the end, I will conclude with a quote: “Don’t adapt to cope, adapt to win.”