Monday, 17 September 2012

Critical Success Factors in Digital Marketing for Small & MediumEnterprises (SME’s)

Posted by Cosmos Star Consultant on 02:43 with 7 comments


The Marketing strategy in its modern version is a seamless blend of the offline and online promotional initiatives. Each element is designed to ebb and flow in complete synchronization with the other. This is also a dynamic approach. The strategic projections are constantly changing and brand success in the competitive business scenario is directly linked to the continuous and optimum usage of such approaches.

Here are Three Interesting Statistics to put things into Perspective:

 

  1. 9 Out of 10 People searching for products and services online tend to use popular search engines like Google, Bing and so on

  2. Trust perceptions among 80 % of people tend to be higher for businesses that have an online presence

  3. 5 out of 10 people also conduct their own background research to verify the claims made on the website


 

Thus, the success of any strategic initiatives in the Digital Marketing Domain depends quite heavily on how good the ‘Website’ is.

Small and Medium Enterprises (SME’s), everywhere, are starting to wake up to the potential enormity of the gains online. This sentiment was found to be running true at a poll run by Bord Gais Energy. The respondents of this poll were members of the Small Firms Association (SFA) that had gathered for a free “Business Bytes" seminar on digital marketing.

The poll threw up some interesting trends. Chief among those being the ones listed below:

  • 75% SME’s preferred to let in-house teams manage their digital marketing initiatives



  • Over half of those polled had assigned a specific staffer to spearhead their efforts in this field



  • They alternatively preferred an industry specific training course if no such staffer could be assigned



  • Almost 60% of SME’s had an Ecommerce based website



  • 20% had their sales being funnelled in from clients based outside their country of operations



  • Social Media Platforms like (Facebook, Twitter, Foursquare, etc.) were the second most popular method of establishing an online presence



  • Linked In was rated to be one of the most promising brand outreach platforms by 70% of those polled



  • Email Marketing, Search Engine Optimization (SEO), E-Zines & Blogs were the other platforms preferred by SME’s



  • Most businesses consider digital marketing to play an important role in their market success strategies and they are ramping up ad-spends in response


Thus, Product & Service Innovation, Social Media Engagement, Secure Payment Gateways and a solid, backend presence are all important for Brand Success in the competitive business environment.

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