How Local Business Can Succeed with Digital Marketing: COVID has been particularly harder on small businesses than giant corporations. They had to close their shops and comply with the government. They were struggling with cash flow and paying their employees. Small businesses were quick to adapt to technology to stay afloat. The pandemic has made them rethink what technology means for their business and how digitization helps them in their neighborhood.
Digital marketing has several benefits for local businesses. It includes brand visibility, better tracking, good customer service, and increased topics.
Below are some areas local businesses should concentrate on for business growth.
New Parameters in Market Segmentation
Even before the pandemic, marketers focused on understanding their customers and putting them into different segments. The pandemic has increased the need for businesses to communicate meaningfully and personally. It includes engaging with them through their approach to life. Segregating customers based on their philosophy is crucial as we have an educated audience today.
EY Future Consumer Index conducted a study in twenty countries. The study divided consumers into five segments based on their philosophy of life.
- Affordability first (32%): These customers believe in living within their means. They do not go after luxury brands. They emphasize product functionality versus form.
- Health first (25%): For these customers, health and safety are their top priorities. They want to minimize risks and only make purchases that ensure their safety.
- Planet first (16%): These people believe that Climate Change is the greatest threat to Planet Earth. They only buy brands that contribute to the preservation of nature.
- Society first (15%): These people buy from brands that make positive contributions to society. They pick brands that prioritize transparent and honest business dealings.
- Experience first (12%): These people believe in living life to the fullest. They choose brands that offer unique experiences and new perspectives.
It is wrong to conclude that these parameters are not essential for local marketers. Many people worldwide are reevaluating their priorities. The pandemic has helped people prioritize and find what is most dear to them. So, it is necessary to target your local customers based on their attitude to life. A digital marketing company in Mumbai can help you target people in your city according to their priorities. If you need help in geo-targeting you can get the services of a digital marketing company in Chennai.
Before the pandemic, companies had rigid organizational structures. Companies found it difficult to adapt and reorient themselves. The pandemic has created the need for agility and responding quickly to changing circumstances. The pandemic is a boon for small businesses. They already have a competitive advantage in responding to uncertainty and change over their big rivals.
People in the post-pandemic times are expecting more personalized offers. Businesses face tremendous pressure to understand their customers and respond to their needs. Small businesses benefit from this, as they know their local customers very well. Combined with advanced digital marketing tools, they can provide a good customer experience.
Small businesses should be flexible in how they deliver their products. They also should adapt to changing market needs and disruptions in supply chains.
Collaborations and Partnerships
Local businesses should leverage the power of symbiosis. Every business is lacking in some respect. Small companies can collaborate with large companies and reap the blessings of partnerships. Partnering with a big business can increase brand visibility, leads, and more opportunities. Working together can cut costs and bring revenue to both companies.
Partnering with affiliates and influencers helps local businesses market their products. Communicating your needs and limitations is necessary. Shared values and core business objectives are essential for successful partnerships. You can partner with a digital marketing company in Chennai to promote your products. A digital marketing company in Mumbai with many years of experience in the industry can help you boost brand visibility.
There are three ways innovation can happen with partnerships:
- One business takes the lead, with the other giving support.
- Both businesses agree to pool and share the unique advantages of both.
- Crowd-source innovation in which businesses benefit from the ideas and solutions of several people.
Digital Tools & Word of Mouth
A combination of word-of-mouth referrals and online marketing campaigns can benefit your business tremendously. You need to make the most of your hometown advantage and approach people in your neighbourhood with digital tools.
Social media can help you build a community around your brand. Facebook, Linked In, Pikdo Instagram, and Twitter help build a large following in your neighborhood. Google Analytics helps you to track visitor traffic. PPC campaigns and geo-targeting campaigns enable you to target specific groups of people.
Word-of-mouth referrals are powerful. People who like your products will speak about it to their friends on social media, even though mobility is limited. Building relationships and engaging with customers on social media helps spread the word about your business.