April 08, 2021 | 9min read
Small businesses play an important role in a country’s economy, so it is necessary for governments to create a favorable environment for the growth of these companies based on good economic policies. Unfortunately, many countries do not have good economic policies and the consequence of bad economic policies is a bad business environment.
Bad business environment hinders the growth of small companies adding to their difficulties which are low capital, lack of experience of the owner, lack of a structure, fragility in the appearance of crisis, high tax burden, little visibility and much more. All of these difficulties make the mortality rate of small companies high.
The Internet phenomenon
Since the emergence of the first internet service in the United States of America in 1990, the internet has not stopped growing until today.
Over the years, a large ecosystem on the internet has been created where 4 billion people have access to the it daily. 4.22 Billion people have access to social media such as Facebook and Instagram. The massive concentration of people on the internet allows companies to find their customers, and learn more about digital marketing with ease. On platforms like YouTube, where entertainment has a greater reach, information exchange quickly and easily, and it allows people to work from home.
Making money on the internet is a reality. Companies like Google, Facebook, Instagram, Uber, Amazon are world leaders, and they all work with the internet. Young people who make millions with videos produced for Youtube, Blogs that have the strength to influence large traditional newspapers and podcasts, compete with radio stations and streaming channels such as Netflix, HBO, and Eleven sports. Platforms like Twitch can gain more audience and compete with television and cinema.
The internet is the solution for small businesses
The entire Internet ecosystem allows small businesses to stand a chance against large corporations and overcome its daily, political and geographical difficulties. For example, if the pandemic that is plaguing the world right now happened thirty years ago, the crisis would have been much worse. Thanks to the internet and social media, restaurants are able to maintain a substantial profit thanks to delivery services, e-commerce has grown, home-offices have avoided redundancies, and distance learning has grown. Thanks to the pandemic, the internet can show its importance for the present and future of humanity.
With 4 billion people accessing the internet, it is essential that small businesses have good digital marketing strategies. Without a well-defined digital marketing strategy, they will end up wasting time and money and will not achieve their goals.
In order to have a good digital marketing strategy, the owner must hire a competent professional or agency specialized in digital marketing.
Advantages of digital marketing for small businesses
Companies like Google, Facebook, Instagram and Youtube have made it possible to reduce advertising costs. Today, it is more affordable to advertise on Facebook than to pay millions for fifteen seconds on television and other traditional media.
Advantages of digital marketing:
- Audience segmentation – allows you to run campaigns targeting a specific audience. You don’t need to show it to everyone like in traditional marketing.
- Lower and more assertive cost – the cost of advertising is considerably lower than the traditional cost.
- Agility in the implementation of campaigns – it is possible to create, edit and replace any type of campaign in a few minutes and without the need for extremely advanced technical knowledge.
- Assertive communication – digital marketing allows us to have access to our customer’s data, so we get to know our customer better and create communication strategies focused on these him/her.
- Interaction with the target audience- campaigns allow companies to interact with the audience through comments on social networks and content sharing.
- Metrics – in digital marketing, we can know the specific number of people that see our campaigns, and how many people used our product.
All the advantages presented allow small companies to perform better, saving time and money. Twenty years ago, this was not possible.
Conclusion
In short, small businesses with good digital strategies are consistent and intelligent. They are more likely to succeed in the business world. For this reason, they urgently need to migrate to the digital world. The internet industry is still in its infancy. In the image below, we can see that many people do not have access to the internet yet. These people are waiting for companies that can solve their problems quickly and efficiently.
Internet is not the future, it is the present.
