Digital marketing and its effect on MSME’s
Digital marketing is the new and dynamic way of marketing .It is the future of marketing .Digital marketing offers several low cost options specifically tailored at specific audience .Here lets look at why digital marketing is best way to market especially when you are from the MSME sector
As we have seen from Sharath’s example he is very confident of the quality of his product and wants to expand his market and he is looking at various options
In the days gone by Sharath would have made paper leafs and put it amidst the newspaper in hope that when people read newspaper in that locality they would come to know about his product and contact him.This is tried and tested method and this method is certainly cost effective and cheap and can still be tried by Sharath. However there are some disadvantages .
These days the popularity of newspapers in slightly decreasing so in quite few households they are not buying newspaper itself .Then even if they buy the newspaper some people might not react very favorably to paper leafs i.e. may not take it very seriously especially if he wants to market his brand as premium brand .
Also he needs to be prepared for very low conversion ratio i.e. out of many paper leafs he sends, a very low percentage of people will enquire and certainly in that lesser number will buy.So he needs to generate large number of enquires for his sales to rise
Next option would be to advertise in local radio stations and regional television channels then he would obviously get larger audience but they don’t come cheap and for Sharath currently the finances is limited and would be a challenge .
So here is where Digital marketing is very useful for MSME’s .Now the Digital penetration is increasing
Digital marketing can be done in different ways placing Ads in Google,Facebook,Instagram or Twitter ,but more importantly Ads can be placed targeting the exact people and giving them relevant message .
For example Google ads can be run targeting people specifically of particular demography and location .Also More importantly Ads can placed when people type a specific search and next to it they see ads so only relevant people are seeing the ads .
There are many features in Google Ads like Pay per click where Advertisers pay only when the viewer clicks on the Ad or the advertiser can choose Clicks per impression so the money is always well spend .Also Google Ads has different formats like Search campaign where mostly Text based Ads are placed next to relevant search .Another type is display Ads where visually appealing Ads are placed mostly to create brand awareness .Yet another type of campaign is video campaign where Video Ads can be shown when people view videos mostly on Youtube.
Apart from this there are also type of Ads like Shopping Ads where any Retailer who is looking to sell his company’s inventory might be interested in this type of Ads.
Ads from the platform can span across other channels too, including YouTube, Blogger, and Google Display Network.
Over time, Google Ads will also help you analyze and improve those ads to reach more people so your business can hit all of your paid campaign goals
There are many advantages of Google Ads like
Google Ads have a click-through rate of nearly 8%.
Display ads yield 180 million impressions each month.
For users who are ready to buy, paid ads on Google get 65% of the clicks.
43% of customers buy something they’ve seen on a YouTube ad
So how will this help Sharath market his goods and why should Sharath choose Digital marketing rather conventional marketing
