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Digital Marketing Strategy for Small and Medium Enterprise

Friday, March 16, 2018

In the digital age, digital technology has a major impact on the world economy and business. Microsoft and IDC Asia / Pacific predicted the digital economy will account for 40% of Indonesia's GDP by 2021. Of course, this is a potential that all economic actors, including SMEs must take advantage of. Advances in technological innovation can build a more effective and efficient marketing model. 

In doing digital marketing, a mistake often done by SMEs is trying everything instantly. Trying out all the tricks of digital marketing right away will keep you going in circles and at the same time wasting the budget you have. Start by creating a detailed marketing plan that will put your business on a clear path. Set priorities for sustainable success. Remember that priority is really vital for SMEs with limited marketing budget. 

Define the marketing target 

Digital era is an era where you have so many options to build your strategy and execute your business marketing. Identify key metrics that match your business' value proposition. This will be as important as your key performance indicator (KPI) and serves as foundation of your overall marketing strategy. 

For SMEs, keep the main marketing target to not just awareness, but also on sales conversions. For instance, if you have a pizza restaurant then your metric is the number of pizzas sold. Make special metrics and monitor sales growth of the pizza. Then identify also derivative factors that help pizza sells , such as taste, price, size, etc. Check if your marketing strategy is relevant to your targeted metrics and derivatives. If you are already able to do so, you will more easily determine which marketing channel is more priority and worth a try. 


 Blogging and content marketing strategies 

Content is king, and rightly so as Bill Gate had an article written on this back in 1996. Good-quality content is capable of benefitting the market, creating stronger brand and customer loyalty. By regularly producing quality content and then publishing it in digital media, it signals that your business is more lively. This will encourage new visitors to your website and social media, while earning plus points for search engine optimization (SEO). 

Consider hiring professional services for taking photos of corporate events and video production. It helps improve the quality of the content and build customer trust. The ROI (return on investment) from using professional services can be quite promising. 


Social media marketing strategies 

If content is the king, then channel is the queen. Social media platforms offer unprecedented marketing channel to reach new customers. This includes Facebook, Twitter, and Instagram. The liveliness of different platforms depends heavily on demographics and product types. 

The thing that separates successful and unsuccessful social media marketing is perseverance and consistency. It is important to post to social media sites on a regular basis to increase awareness of your brand to new customers. Since the name is "social media" then make your business account more social. Be proactive to ask, mention and like other user posts. Use social media tools to support media performance like Hotsuite, Buzzsumo, Hastagify, etc. 


Search Engine Optimization 

There are millions of websites out there, many of them focusing on the same topic as yours. There are many ways to make your business simpler to find, one of which is SEO. SEO (Search Engine Optimization) is content optimization to make it easier to find through search engine algorithms. There are many technical tricks to make good SEO such as Link Building, Keyword Optimization, Meta Tags, etc. After all, perfect SEO without quality content will be a bad idea. Do not use hacking or spamming because Google can identify which content is qualified or not in terms of quality. 


E-mail newsletters & e-mail marketing 

According to McKinsey, emails are 40 times more effective for acquiring new customers than Facebook or Twitter. Statistics also show that direct emailing is one of the channels with the highest ROI. The most effective way to utilize email marketing is to create regular email bulletins to be distributed to customers. Get potential customers to sign up for newsletters by offering discounts, promotional merchandise, useful tips, news updates, and various other customer benefits. 

Avoid using one email for all customers. Personalize your email according to history, demographics and user needs. This will improve your email conversions. In addition, with the growing number of emails opened in mobile phones, do not forget to make sure your email is mobile friendly. 

Ultimately, the most important thing is continuous experimentation to identify the right digital marketing strategy. The digital era is fast evolving and full of surprises. Many small things can make a big impact. Start building a digital marketing strategy then execute an experiment on an ongoing basis. SMEs are certainly more agile to do this than big companies that tend to be slow, therefore speed for "trial and error” becomes the main competitive advantage. You will learn many things, and over time will find the most appropriate digital marketing strategy for your business. 

Read also : Crowdfunding for Business Branding

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