The digital advertising market represents a goldmine of opportunities for SMBs, helping them engage better with their customers through relevant, real-time online ads and drive higher revenue via the digital channel. Businesses that step up their digital advertising efforts will be able to attract more customers and stay profitable in a decidedly competitive economy.
Some of the most popular types of digital advertising include search, non-video display, video display, classified internet advertising, and mobile advertising. When it comes to exploring the digital advertising world, SMBs have not yet fully discovered the tremendous possibilities of going digital.
Digital advertising can help SMBs grow in a number of ways:
Greater cost savings
While traditional advertising is expensive, digital advertising can keep the costs down for SMBs. Small business owners can create, maintain, and expand their digital advertising campaign portfolio based on their plans for scaling their products and/or services.
Higher revenue generation
Small business owners with an active presence on local search directories expect higher revenues in 2016. Businesses that invest in locally targeted digital advertising resources gain better visibility and brand recall, resulting in a positive outcome with every sales opportunity.
Real-time interactions with customers
Nothing comes close to interacting real-time with your customers. Digital advertising makes it possible to provide a more personal and in-depth customer experience that helps businesses to reach out anytime, anywhere and keeps their customers coming back to them.
At par with bigger competitors
Compared with non-digital advertising, digital advertising allows SMBs to compete equally with businesses that have substantial resources and immense budgets. SMBs can be on par with their regional and national competitors in understanding consumers’ online behavior, and know how to deeply connect with them and offer them a unique online experience.
There is a noticeable shift in the way SMBs are using digital advertising to keep pace with changing business trends and to appeal to customers of all ages and groups. From SEM to digital display ads and mobile ads, businesses are experimenting with several eye-catching digital advertising techniques.
It is no surprise that digital advertising grew swiftly with a CAGR of 16.1% over the last 5 years and it is predicted that digital media will become increasingly significant in the total advertising mix.
The digital advertising market holds massive growth potential for SMBs around the world — businesses that adopt well-planned digital advertising strategies will thrive and have a definitive edge over their competition.
Are SMBs ready to seize the digital advertising opportunities?