As leaders in the Chatbot & AI technology field, we are always preoccupied with ways in which to drive down cost: yet it seems that much of the savings we incur for businesses – will be re-invested in demand generation, as we will discuss here:
Extensive research in recent times have indicated that most of the small businesses currently in operation could be expected to substantially increase their social media investments. The studies which have been conducted seem to indicate that social media marketing is now considered to be a profitable digital marketing channel which can be used very effectively to not only expand the influence of individual brands but the benefits as far as enhanced customer service is concerned is also a strong motivation. This seemed to be the general consensus among most small business owners most of whom already have plans in place to make aggressive use of social media to ensure increased visibility for their brands and also to help with the generation off valuable customer leads. This new trend is not an isolated thing which only concerns a small group of business owners because extensive studies indicate that well over 90% of small business owners is already far advanced with their plans to make more extensive use of digital marketing in 2019.
Websites and social media
A survey conducted among small business owners have revealed that more than half of those businesses have plans to considerably extend their current websites to make them more attractive to Internet browsers. However even more small business owners have indicated that they prefer to focus their finances and energy on increased social media exposure. The majority of website owners had been very interested in SEO marketing over the last couple of years but that doesn’t seem to be so alluring anymore because according to the survey less than 40% of small business owners will be making use of SE0 strategies. Small businesses are competing in a viciously competitive environment and therefore they need all the help they can get in order to distinguish themselves from the competition. Many of them are now turning to digital marketing which is widely considered to be a very valuable medium which can boost the productivity of small businesses.
An extensive marketing campaign is like a runaway elephant and once it has taken off it is not so easy to control which is why proper research and planning are so important as well as careful managing of the entire process. Digital marketing on the other hand is a more measurable solution where you have immediate feedback which makes it possible to make quick changes when you realize that it is not performing as it should. This is exactly why it is so suitable to the small business environment because the process is relatively easy to initiate, it is relatively low costing and it is not a complicated process to initiate and when things go wrong it doesn’t take a lot of time to cancel the old process and to begin over with something else. It is therefore not surprising that digital marketing is a popular choice among small businesses. Less than 10% of small businesses are not actively making use of digital marketing as a means to promote their services or their products. Most small business owners are in complete agreement that digital media is providing tremendous value to small businesses and when properly implemented it can certainly help to boost business profitability.
As we seek to pass on the benefits of the lessons larger organizations learned to SME’s who do not benefit from the same scale, the advantage is that AI & Data is leveling the playing field in many ways. Looking for ways to free up a part of the budget by streamlining your systems, in order to re-invest in demand generation is the most sensible thing SME’s can do right now.