Digital Media Assignment Help
The class divide between them the small and the large businesses is over these days with the evolution of technology enabling them to compete with the best in the class at least in the online space. It has been seen that most of the businesses have been resorting to the online existence mainly because they that is the way forward for them. Most of the small businesses have taken on the giants of the business in almost across the world in the online arena as it gives them the level playing field provided that their digital marketing strategy is having a long term vision. Even though they might come across some hurdles that they might find difficult to face, for small businesses in Australia, largely the growth of the digital marketing and the scope that it offers has been a boon to establishing themselves as a formidable opposition in front of the giants who have the muscle power to sideline them in the brick and mortar game. To add to this, online space is one thing that the management of these times don’t want to miss given the opportunity and penetration that it offers.
The key to a successful digital marketing strategy for many small businesses is to get to their target audiences at a minimal cost as they don’t have the luxury of the resources to try our various marketing strategies and zero in on the one that best suits them. In simple terms, we can say that the online space is one that can help the small businesses to make their voices heard to the people that matter in a cost-effective manner that no other medium offer. It is a misconception that many times digital marketing strategy is only used by companies that are financially sound and have made their mark in the industry, but it is often clear from many studies that digital marketing helps the small businesses like none other; mainly because this would offer them the flexibility of reaching out to only those set of customers that matter to them and at the same time they can customise the message the way they want to: Something that other media options don't allow (Fisher et al, 2006).
The main advantage that the digital marketing strategies lend to the small businesses is that it provides a level playing field for them to pit themselves against the larger players in the market. There are several examples where the larger businesses have been taken on by the smaller ones through the digital route as the amount of investment is comparatively lesser and this option would allow them to target their audience more effectively and hence the required reach is achieved in an easier manner (Kotler et al, 2006). These methods also would take care of the fact that even though these small businesses don’t have multiple branches to service the customers, they could reach out to them and service them through the online platform. Customer service operations for these companies have been made simple with lesser investment and they can finally look at running them successfully without a call center if they have a strong digital media presence to back it up.
Cost effectiveness is another boon that digital media offers to small businesses as they don’t have much resources at their disposal, thus ensuring them to carry out the required marketing activities at a far lesser cost and in a more effective manner. Gartner’s Marketing spend report suggests that the average savings that such organizations have from such initiatives are around 40% which they can use in other areas where they need to improve. With the advent of many social media platforms on the rise, small businesses have got an effective ecosystem through which they could connect to their customers and hear them out on a real time basis. The cost per lead that they incur through digital media for small businesses is much smaller thus making them allocate a major chunk of their promotional budget by this means (Koontz et al, 2001).
Digital media also offers the businesses to measure their campaigns and promotions in a more quantitative manner hence they can always go back to redesigning the whole strategy if things are not working in their favor. Small businesses in Australia has always been aggressive in terms of their brand building as the customers are much more brand conscious than some other parts of the world. Digital media offers them the ideal platform where they can shape their brand content and get a real time feedback on the same. Another major advantage that this medium offers is that this helps them in molding the messages that they would like to pass on to the customers, based on the changing environment. These days the completion between brands, be it any industry is on a rise due proliferation of multiple brands and at the same in the time entry of foreign brands easily. Brand content undergoes drastic changes based on the competition and the current market scenario and the digital media offers the flexibility for these small businesses to change their message the way they like to have its basis the change in the business environment. The top priority for many small businesses is to adapt to the changing environment and ensure that they convert maximum leads they get through the online media and hence resort to the conversion optimization methods (Schachter, 2008).