SMEs can benefit highly from taking their business online. Learn ten different reasons SMEs globally should go digital, and how to make the most of it.
Technology has introduced new ways to create and communicate. Here are ten reasons why your small business needs to go digital.
Digital Marketing Reduces Cost and Saves Time
Digital marketing can save both time and money. You can target your audience and demographic specifically, both with ads and in search engines. Some businesses run their entire operations online to minimize cost. This is beneficial because customers can return to business’ websites any time to get informed or make a purchase, and companies don’t need much to establish their presence on popular social media sites like Facebook, Instagram, Twitter or YouTube. Social media is especially beneficial for SMEs – not only is it free, but you can also create a community for your consumer, making it more likely for people to be return customers or for new people to discover your business.
Ability to Raise Capital
There are many different ways SMEs can attract investment online. You can explore platforms that fund various types of products; Kickstarter funds innovation, Indiegogo launches products, RocketHub links businesses to venture capitalists, and Patreon pays artists to create. A strong online presence will enhance your reputation with fintech startups that finance growth. Blockchain technology and smart contracts have also opened up new doors for SMEs. Documentation is more secure, easily verifiable, and transparent with innovations like these.
Build a Community
The best advocates for SMEs are their clients. They can amplify their message by engaging one another – one of the best forms of marketing is word of mouth. Not only is it free, but people are more likely to trust reviews from their peers. Building a community brings together people who love your product. You can use either social media platforms or add a review feature to your website.
Take Advantage of Mobile
Almost half of the people who access the internet do so with their mobile device, as opposed to on their personal computer or tablet. Having a website is not enough – SMEs have to make sure they are mobile-friendly. Even better, building an app that is easy to navigate can further improve engagement. mCommerce is only growing, so SMEs should take advantage of the number of people accessing the internet on their smartphones.
Finding the right employees for your SME is integral to your success. Luckily, this has been made easier with sites like LinkedIn, ZipRecruiter, and other online recruiting platforms. SMEs can find potential recruits, post jobs, and sift through applicants. These sites make life easier for SMEs.
Branding is necessary for a successful SME. Not only does it display your expertise, but it makes you more memorable. Consistent tone and voice, regular blog updates, and engaging social media posts. Use creative ideas to entertain and inform your audience. They can be anything that you and your audience would find interesting. This gives consumers a reason to keep coming back to your website and keep your business at the forefront of their mind.
Explore your Analytics
SMEs can learn a lot from analytics. Trends in your data are going to give you a clear idea of where your business is heading, who your customers are, and how they engage with your product. Data can be daunting, but there are simple analytics tools to integrate into digital strategy. Google Analytics, for example, makes it easy to view advertising ROI, as well as website traffic and social media interaction. This is especially powerful for SMEs – you can use trends you see in your analytics to better tailor your marketing strategy, your advertising spend, and even your product development.
Find New Customers
eCommerce is a great way to expand your market and target new customers who would otherwise never know you exist. Whether it’s within your community or in different places all over the world, your SME can diversify in ways traditional brick-and-mortar stores cannot with eCommerce. Search is the new way people are finding plumbers around their area, as well as organic food and handmade tools. The internet is the place to target niche consumers. This is extremely important for making the most of your growth potential – find all the people who want and need your product or service easily online.
Create Online Partnerships
SMEs can do more than just communicate with their customers online – they can find other businesses and create partnerships. If you’re a manufacturer of a particular product, eCommerce makes it possible for new companies to discover you and buy your product, or even create a lasting partnership. Partnerships like this are especially necessary for B2B companies.
Expand your Growth with International Trade Hubs
International online marketplaces are the best way to expand and grow your SME. Export Portal can help you with just that. We have created a global hub for import/export businesses, manufacturers, and logistics companies. Each company we partner with goes through a thorough process to ensure its veracity, so you can trust who you work with on our site. Not only can you build partnerships with B2B companies internationally with Export Portal, but everything from documentation to transactions is tracked, checked, and secured due to our proprietary blockchain technology. Make the most of what eCommerce has to offer – register with Export Portal today!