The cost of not using digital marketing for your business

The goal most individuals have in mind when forming a business is to make money. Unless you’re running a non-profit organization, companies are in business to maximize their profits. A small business owners’ goal is to retain and expand their client base and a larger more established business will focus on generating more profits and being the best. If you’re the leader in the market the goal is to remain at the top and increase the gap between you and second place.

No one can escape time, which means we all are getting older and things will gradually change as time passes. This mean in business, what may have served your business in a previous stage may be detrimental to your business at another. Great businesses that have stood the test of time, all have found ways to innovate and evolve. They were able to do so, by identifying trends and capitalizing on them early. The only thing better than finding a trend and riding its wave to success is creating something that becomes a trend and being the originator not the copy.

In life a mere existence should not be the goal. The same goes for when you’re in business. As we begin to turn the corner heading into 2019, as a business owner in this current age of information you can no longer solely rely on physical media (billboards, flyers, and business cards etc.) and word of mouth. Although, those methods can spark interest they will not provide you with the medium to reach the masses to the degree of digital marketing. Digital marketing allows you to reach people virtually anywhere there is an internet connection.

Try to rap your head around these statistics, according to statista.com as of the third quarter of 2018, Facebook had 2.27 billion active daily users, Instagram as of June topped 1 billion active daily users, and Twitter had 336 million monthly active daily users worldwide as of the first quarter of 2018. The most recent united nations report estimated the current world population to be approximately 7.7 billion people. The ability to scale for businesses has never been more achievable then right now. On any given day you can reach a large group of people at their convenience and yours via one’s computer, iPhone, Android, iPad, or tablet.

A lack of online presence is costing your business time, money, and visibility.

1.) How is it costing you time?

It is simply summed up by the well-known saying “time is money”. It may not necessarily be your time but being complacent can cost you the time that you pay for on a daily basis. The wages or salaries you pay your employees remain fix, but you must make sure you provide them with activities to keep them busy within reason of the capabilities of each employee to provide them with the environment to facilitate and drive productivity. Not having a strong online presence can make it tedious for potential customers to find you.

2.) How is it costing you money?

A businesses lack of a digital market strategy can cause you to miss out on entire pools of customers. By not marketing to people on the web businesses can miss out on capturing new lifetime and occasional customers who are fully integrated into modern day technology. The cost of doing business continues to rise and the worth of the dollar continues to fall. It is important to continue to acquire new paying customers and retain existing customer to continue to grow.

3.) How is it costing you visibility?

When a business fails to create an online presence, it is a true handicap because there is a limit to how far away a person can see your business sign and when it comes to word of mouth the more you can get people to talk about your business the greater chance you will have of more people buying your products or services. The more attention your business garners the more aware people will be of your product or service offerings.

Uncertainty can be scary while operating a business but if you find yourself stuck using old forms of advertisement with minimal or no return on your investment, you should do research on what is working today. As we head into the new year remember to evolve as a business you must be able to adapt.

Leave a Comment

Your email address will not be published. Required fields are marked *