Internet has ushered a big change in the pattern of the businesses transactions carried out all over the world. This trend has also led to increased usage of online channels by millions of small to medium sized companies (SMEs) in the U.S. Internet marketing has thus resulted in multi-channel marketing to reach customers and prospects and increase in lead generation.
With imminent signs of recession and reports of weakened consumer spending, small businesses are seeking digital medium to provide cost-effective marketing solutions to keep business afloat and buoyant.
Going forward, it’s important to know what online pockets are leveraged by small and medium sized business for lead generation and customer acquisition. To know more, it’s paramount to understand where most of the marketing budgets are spent and how digital marketing is reshaping the way we do business and create new market.
To find the answer to this question we took a quick poll of 800 small and mid-size firms in U.S to unravel their current marketing trends.
eSalesData
The marketing poll has given us the bird’s eye view of the major online channels used by small and mid sized business. The marketing report uncovers three major marketing channels used to create market value and sustain competitive advantage.
Email Marketing:
Majority of the firms surveyed, figured email marketing as the most effective and cost-effective way to generate revenue. Targeted email marketing can circumvent spam and delivery issues and give value for the dollars spent.
Local Search Marketing:
Most small businesses do business locally within a radius of 50 miles. To tap the local market, many businesses are employing SEO tactics to distribute business content to local search platforms.
Online Vouchers/coupons:
Large number of small business is promoting business by using online discount voucher and coupons. Coupons are mostly distributed via email marketing, banner ads or web sites. Adoption of online technologies is saving small firms precious marketing. With coupon redemption rates hitting 30 percent beyond, more traders are venturing to increase in-store activity and customer interactivity.
Conclusion:
It’s sure, 9 is going to be challenging year for small business across U.S. With lesser marketing dollars and sluggish market trends looming ahead, the future of small business depend on how well they can succeed at innovation and execution of online marketing strategies.
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