The theme of this year's conference is Innovation.
With the change and evolution of modern technologies, small and medium businesses are doing everything they can to keep up, which can be said true for the rest of human society.
- A huge company like Walmart comes to town and wipes out 100's of local specialty shops.
- Starbucks rolls in and mom and pop coffee and bagel shops close down.
- We've seen the online equivalent of this with Amazon.
It's hard to compete with the name recognition or the millions that they put into marketing and reputation management.
Online is where the customers are. It's where they prefer that you reach them. Online is where the modern buying process begins.
Your Audience is Online.
More than half of consumers now make online purchases, creating huge opportunities for SMBs and allowing them to reach new markets. The number of online buyers is expected to keep growing, which means businesses that do not invest in digital marketing would miss a huge chunk of sales opportunities.
Social Media Engagement, More Likes.
Social media offers small businesses with zero advertising budgets the opportunity to reach their target audience and engage them at a personal level. It allows targeting them based on their individual preferences, demographics and more.
It's More Cost Effective.
Digital marketing has allowed small and medium sized businesses to reach the masses, which otherwise would not have been possible due to limited advertising budgets. SMBs can now reach thousands of qualified prospects at a fraction of the cost and engage with the target audience in a more impactful way.
Customer Feedback and Analytics.
Online marketing platforms are extremely effective in gathering customer feedback and tracking their entire journey. Analytics platforms such as Google Analytics help monitor all preferences and actions and offer a great amount of valuable data that is otherwise very difficult to obtain.