For small and midsize businesses (SMBs) in 2019, there are plenty of challenges when it comes to creating game-changing marketing campaigns, especially with the rapid development of technology. If marketers connect insights behind technology considerations, business goals, and investment activities of SMBs for their campaigns, they’ll be on the right track to success. A good ballpark for marketing return is somewhere around 1:5; if done well, spending 1 dollar on marketing should lead to $5 in revenue. This article will cover the few marketing investments that SMBs can properly invest those dollars for their marketing campaigns.
Social Media & Influencer Culture
A recent survey by The Manifest of 501 digital marketers from businesses across the U.S. with more than 100 employees found that virtually all – some 99 percent – plan to increase their investment in at least one digital marketing channel in the next year. Instagram, Facebook, Twitter, Pinterest, Youtube…there’s plenty of channels where the world’s attention is currently focused on. Business leaders who invest in “front row seats” in these channels can bring their companies to stay ahead of the curve.
The current VIPs in the social media space are influencers, individuals who range from popular celebrities, high-level executives, or just personalities who have caught the eye of the Internet. They drive their large followings with various forms of thought leadership, entertaining and engaging content, and committed audience interaction. Small businesses can take advantage of this “influencer culture” by collaborating with those who are within their industry through events, interviews, or custom content through social media.
Businesses are starting to invest heavily in the overall user experience at every digital touchpoint. From mobile, tablet, and desktop devices, small businesses will need to stay updated and ensure their own brand guidelines are responsive and user-friendly.
Winning new customers is essential for growing a small business, but if you operate in a market that is very competitive, you’ll want to invest some of your marketing spend on customer retention strategies that strengthen customer loyalty (such as publishing specialized newsletters or offering loyalty rewards based on various levels of spending)
Email has been around forever and still has a nice reach for any audience. A collection of helpful stats by Social Media Today describes how with every $1 spent on email, businesses can expect a possible $38 in revenue. Although not as prevalent as social and organic web traffic, you’ll want to invest in a system that encourages your audience to open their inbox to help lead them to where you need them to go.
SEO and keyword research has been a baseline for marketing and engagement in the past decade, as people use search engines on a daily basis. It has one of the highest perceptions for return on investment in a poll of marketing leaders. Push for developing meaningful and more intentional content, whether it be an e-book, blog post, or infographic, to show that you can stay relevant in a crowded marketplace.
Chatbots & Voice
For 2019, small businesses can have a major impact on their customer service through the use of chatbots and voice technology. Jay Baer mentions a useful study in his blog, Convince and Convert, which highlights that 35% of people use chatbots for the purpose of resolving a complaint or problem. For voice tech, a survey by Bright Local found that 58% of consumers have used voice search to find local businesses in the last year. Both Chatbot and Voice AI have developed rapidly over the past few years to resolve hundreds of client queries with minimal human intervention and pre-programmed scripts. You’ll want to have this in your repertoire to reduce delays and offer fast, accurate and cheaper customer service solutions.
High-Quality Produced Videos
Google reportedly found that 70% of B2B buyers watch videos while moving through the sales funnel. It’s no surprise then that video will be a dominant player in the digital space, with experts predicting that by 2020, 82% of media content online will be video. You’ll really want to make video a priority in your upcoming marketing toolbox for 2019.