As many of our clients go through the process of adding digital to their small business marketing, they are surprised at how inexpensive it is. Yet there’s a public perception that somehow digital marketing is expensive.
The truth is, for most small business marketing, digital tactics are usually less expensive than traditional marketing. And, when “per prospect” costs are considered, digital is the clear value champion.
First, You Have To Consider Reach
The two goals of all small business marketing tactics have to be reach and conversion. More specifically, reaching as many prospects as possible, and then getting them to take the action you desire (call, email, fill out form, etc.)
With very, very few exceptions, the Internet always reaches more prospects than any other medium. That’s true for every market. That’s true for nearly every demographic segment.
And there are demographic segments that can only be reached digitally.
For small business marketing, reach is critical, reach is a huge component of marketing value, and you reach more prospects digitally than with any other medium.
Then Consider Conversion
And, converting the prospect is just simply easier in the digital world.
Think about traditional small business marketing tactics; let’s use direct mail as an example.
Conversion for direct mail prospects is calling or visiting. OK, fair enough. But surely that takes more effort on the prospect’s part than digital conversion.
That’s just a click, and it’s easy because they’re already there. They’re on-line anyway, conversion takes no effort.
They don’t have to pick up the phone, and they sure don’t have to put their coat on.
It’s Just Better, And It’s Cheaper Too
Digital marketing has better reach and conversion rates, but let’s look a little further.
Continuing with our example, now we’ll compare direct mail and email marketing in terms of absolute cost to a small business marketing program.
Then let’s compare production and execution costs. For direct mail, there are printing and mailing costs that are significant, compared to negligible cost on the digital side.
Now, we’d be liars if we said the conversion rate for email marketing is any better than it is for direct mail—they’re usually about the same.
Digital Marketing’s A Great Deal For Small Businesses
The bottom line is that digital small business marketing is less expensive than traditional marketing, and it’s more effective.
And the crown jewel of your digital marketing, the company website, can be capitalized as a corporate asset. That’s a tax advantage not enjoyed by any traditional marketing tactic.
From less expensive execution using digital methods (like the direct mail vs. email example), to greater reach and company financial advantages, there’s no better value than adding digital to your small business marketing.