Small and midsize businesses (SMBs) are very optimistic about the overall economic outlook compared to six months or even a year ago, when things were looking bleak due to the pandemic. However, now that the country is in a position to relax some restrictions, SMBs are making plans to get a jump start on sales, and that means being able to announce themselves to the world and welcome customers. Currently, there are four big topics that every SMB has top-of-mind looking ahead to the next six months:
1. Digital Advertising for SMBs
SMBs across all industries adapted quickly to the digital space to maintain operations and relevance as the country went into lockdown in 2020. The revelation in 2021 is that e-commerce, whether B2B or B2C, is not going away. For businesses to neglect the digital space as the country reopens would be the same as leaving money on the table. Digital marketing provides a vital platform for sales, traffic, and brand awareness that SMBs cannot get from relying on traditional business marketing strategies.
2. Changing Media Mix
There is no one true way to market to your audience, but some methods are more effective than others. SMBs are diversifying their marketing strategies by incorporating video, infographics, blog posts, e-mail campaigns, and more. Additionally, businesses are leveraging their own sites, social media platforms, streaming video platforms, and other outlets to capture audiences and funnel conversions.
3. Planning Contingencies
Ramping up operations and marketing endeavors is not always a smooth road. SMBs need to account for existing and potential challenges, such as the possibility of a virus mutation that causes another lockdown period, to more granular hurdles like how to maintain existing segments while resonating with new markets and populations. Creating contingencies, as well as knowing that nothing is ever set in stone, can help SMBs plan for the near future.
4. Cost Containment
Cost containment is always a priority for SMBs. While the outlook for the next six months is encouraging for businesses that want to position themselves for growth, finding the best ROI for effective marketing is crucial. So how does cost containment resolve with digital advertising? Dollar for dollar, digital marketing strategies are more effective and offer much better ROIs than traditional methods. Digital marketing allows SMBs to reach audiences on different platforms and gain higher conversions, while also changing their media mix to diversify their content. Digital marketing checks all the boxes for SMBs, including cost containment.
Outpace Digital Marketing works with SMBs to create effective digital marketing campaigns to drive traffic and conversions. Contact our team today to outpace the competition as the economy reopens.