How Small Businesses Should be Identifying Growth Opportunities in 2020?
Small businesses have been growing at a decent pace owing to a number of innovations in tech and marketing. While tech has opened many doors in improving how businesses function and the type of products they make, innovations in marketing has simplified the process of reaching people.
Innovations in marketing, more or less, refer to the rise of digital marketing.
It wouldn’t be wrong to say that techniques like SEO and paid search marketing have helped businesses grow at a speed small startups two decades back could only dream of. The reach of platforms like Google and Facebook rival that of traditional newspapers and TV. The medium of information and content dissemination has been radically changed and marketing has adapted with the same.
In the digital marketing sphere, small businesses always have more room for growth. The reason why students these days are flocking to top digital marketing institutes is that they are being driven by the urge to join this bolstering industry.
To find new avenues for growth, small businesses cannot simply bank on the reach of digital marketing. They need to come up with a cogent strategy that helps open up new growth opportunities. Tactical thinking is often the focus in marketing, which while admirable, can often be deceiving. The need for a strategic vision in marketing is also important and this requires a change in approach.
In this article, we explore key strategic approaches that can help open up growth opportunities for new businesses.
Testing Audiences with Paid Campaigns
To find new opportunities, a small business must first identify a new audience. This can be done quickly by running test paid campaigns to raise brand awareness amongst segments of the audience not naturally inclined to be customers of the business.
The prospects who show an interest in the campaigns can later be targeted to becoming customers through remarketing.
This way of reaching out to new audiences can help small businesses shed the tag of being ‘small’ and truly have exponential growth. Staying in a small narrow market and targeting a small audience does work, but if the small business has aspirations to grow, it needs to target new audiences.
Test Different Content Formats
Another way to find avenues for growth is by testing different kinds of content. Generally, brands think in terms of audiences. The broader an audience base is, the greater opportunities one can find for growth.
In reality, opportunities for growth can be found even with unique content that is organically engaging and brings more people into the fold. This is why testing different forms of content can be so beneficial to a brand. Whether its running polls or posting images & videos, a wide range of things can be done to help find new avenues for business growth.
In Conclusion
In conclusion, we discussed a few strategies that small businesses should use to identify growth opportunities in 2020.
About the Author –Gaurav Heera is a well-known SEO consultant currently writing guest posts for Eduburg, one of the top institutes known for its digital marketing.
