Should Small Businesses in India Waste Money on Digital Marketing? Expert Opinion by A Digital Marketing Agency in Kerala
Should businesses with small profit margins spend money on digital marketing? Digital marketing has seen a huge increase over the last few years. Every major brand in the market spends money on digital marketing whether its for branding, acquiring leads or building a community. With the increase in demand for digital marketing agencies, we now see increased social media advertisements and cold calls, pitching various digital marketing services. But is digital marketing helpful for small businesses? Can they generate more revenue than what they spend through digital marketing? Let’s dive into a deep analysis to find out.
Challenge faced by small businesses in Digital Marketing
As a digital marketing agency in Kerala with years of experience, one thing we often hear from our clients is that they have tried digital marketing in the past, but they were never been able to make up more profit than what they paid for digital marketing services. Let’s take a look at what problems they faced and what can be done to overcome them.
1. Not considering RoI in Marketing Strategy
As a digital marketing agency in Kerala with years of experience, one thing we often hear from our clients is that they have tried digital marketing in the past, but they were never been able to make up more profit than what they paid for digital marketing services. Let’s take a look at what problems they faced and what can be done to overcome them.
2. Poor Strategy & Execution
Digital Marketing is not just about creating ad campaigns on various platforms and waiting for leads. You need to have a well planned strategy to penetrate into the market and take your share of the market. While devising a strategy, you need to identify what works in your niche market. You need to identify your customers emotions and generate content that resonates well with them. You should also consider the brand image, brand positioning and target audience.
3. Budget Constraints
Small businesses might not have the budget to compete with the marketing budget of big conglomerates. But marketing efforts can be done at a minimal budget level, depending on the RoI. This is where most digital marketing agencies fail. They offer a fixed package rate without considering the clients budget, market share and expected Return on Investment.
4. Impatient about Results
As a digital marketing agency in Kerala with years of experience, one thing we often hear from our clients is that they have tried digital marketing in the past, but they were never been able to make up more profit than what they paid for digital marketing services. Let’s take a look at what problems they faced and what can be done to overcome them.
Should small businesses in India invest in digital marketing?
India has a very competitive market where businesses often have to compete based on service/product price models. Unless you are a well-established brand or you have a unique service that can change the market, you will have a hard time competing with the big players. But that doesn’t mean you have to take a loan and incur additional losses to spend money on digital marketing. Digital marketing can be done on a budget, utilising the resources available. A good digital marketing agency can help you narrow down your marketing efforts to the platform that can yield you the most results. If you don’t have the budget to approach a digital marketing agency, you can try content marketing yourself with the resources you have. The only things you need today is a smartphone and internet access.
Conclusion
Digital marketing is a very efficient medium for marketing, however small your business maybe. It’s all about utilising the resources available to you very well. Businesses should also look into a long-term plan instead of generating short-term leads. In case you decide to go with an agency for digital marketing, you should select a digital marketing agency with good reputation and experience. You need to explain to them your profit margin, expected return on investment for ad spends and your overall budget.