This paper focuses on analyzing digital marketing strategies for small business growth. Digital marketing is an important part of overall marketing. Small business growth includes offline local advertisement methods and digital marketing to maximize sales. Small businesses that do most of their businesses online embrace digital marketing strategies for their customers to see. Today, many businesses engage in small business marketing on the internet which includes areas like; search engine marketing, local search marketing, content marketing, social media marketing, and email marketing.
THE IMPORTANCE OF ANALYSING DIGITAL MARKETING STRATEGIES
Digital marketing strategies have the following importance. It promotes brand awareness and engagement in small business marketing. Most people use social media to keep in touch with their favorite brands. It is also cost-effective and profit efficient. This is because it allows business owners to cut costs while promising higher returns therefore efficient for small business growth. Aside from efficient targeting of potential customers, digital marketing allows businesses to track their progress in real-time hence they see what works and what doesn’t. Also, marketers have the chance to adapt fast to the changing internet world.
THE STAGES OF SMALL BUSINESS GROWTH
There are five stages of small business growth. The first stage is existence. This is the stage where a business owner makes a name for the business. Survival which is the second stage is where the business starts sustaining itself. In this stage, the owner ensures the revenues outpace the cost through methods like small business marketing. The success which is the third stage involves the self-sustaining of the business with efficient systems and better profits. This stage involves new ways that the business can use to increase profits. The take-off stage ensures that the business attracts more customers via new products or services. The marketing of these new products involves digital marketing strategies on several social media platforms. Resource maturity is the last stage that involves tapping into uncharted markets to expand the customer base beyond the reach of existing similar businesses.