Will My Business Survive?
If you are among those who own a business, it is more than just a company to you. It is your livelihood. It is your dream that you have turned into a tangible vision. Your success is critical, not just to you, but to your loved ones as well. If it fails, there are homes, college funds, and retirement plans on the line.
Despite 75% of small business owners feeling confident in their achievement, only 50% will survive for 5 years or more. That is a scary fact that you cannot ignore. While you may be hopeful, there are several factors that can lead to the ultimate demise of your company.
Among your greatest threat is your competition. Being outcompeted accounts for 19% of small business failures. Other simply do not have the cash flow to keep their doors open, which causes 29% of businesses to go under. This is often due to not reaching their market to sell their products or services.
With the risk of failure constantly looming, what can you do about it? You can start with your online presence.
How Can I Invest in My Success?
To survive as a small business owner, it largely relies on your online presence—even if you are a brick and mortar location. The days of Yellow Pages and newspapers ads are just about nonexistent. You must have a solid online marketing strategy to rise above your competition and to reach your intended customers. This will allow you to conquer your cash flow problems to succeed long-term.
The face of your company online starts with your website. Unfortunately, only 71% of small businesses have one. If you are among those who do not, you are already falling behind your competition.
A website is the very foundation to a marketing plan to thrive in today’s digital world. With Google processing more than 40,000 search queries per second, your ability to appear in online results will either make or break your business; however, having a website is not good enough. If people cannot find it, then it is pointless.
Create an SEO Strategy
To ensure that you are found online, you need search engine optimization (SEO). SEO is a carefully crafted strategy that incorporates various ranking factors to have your website appear on the first page of search results.
Why do you want to appear on the first page? Over 91% of those listed within the top 10 results receive more traffic because the average person will not view additional pages. Although the top 10 is good, ideally you want to rank #1 to acquire over 32% of that page’s traffic. If you are location-based, this is vital because 72% of customers who conducted a local search visit a store within 5 miles.
To achieve and maintain a high ranking, it requires a great deal of planning and execution to see real results.
Stand Out on Social Media
You can optimize your website and create quality content for your pages, but those are only half of the ingredients to online success. You must also have a strong social medial presence. Now, everyone is on social media, whether it be Facebook, Instagram, or another outlet. If your company is not front and center, you essentially do not exist in the eyes of your customer.
Social media provides you with various opportunities to move your business forward. By remaining visible, it not only allows you to market your products or services, but it also puts them directly in front of your most valuable customer base. Even if they are not ready to make a purchase, you still build brand awareness. As a result, they will turn to you first when they are ready to buy.
Occasionally posting to Facebook is not enough. You must have a solid and consistent strategy in place that also aligns with your SEO efforts. With the right plan in place, 90% of professional marketers indicate that their social media efforts generate more business.
Am I Doing Enough?
Honestly, you probably are not doing enough or doing it right. If you are like many business owners, you likely try to handle your marketing on your own because you do not want to spend money on a marketing firm. While you may be saving a few pennies, you are actually doing your business more harm than good.
Your website, social media profiles, and on-site SEO barely scratch the surface of what it takes to be successful online. Even with a basic understanding of what it takes to promote your visibility, marketing tactics and algorithms are constantly changing. It is a fulltime job trying to keep up with it all while also ensuring that your strategies pay off.
You cannot just wing it when it comes to marketing. There must be strategic consistency in place. With a documented plan, you can increase your marketing success by as much as 538%. As a result, your likeliness to achieve your business goals increases by 429%.
It is estimated that only 11% of small business owners are satisfied with their current marketing efforts. The whole process can be very overwhelming. Although you do try, you just cannot seem to generate the results you want.
While you may not want to budget in the cost of a marketing manager, it is an investment that is well worth the money. With a dedicated professional creating, executing, and managing your marketing strategies, they can move your business forward to levels you had never thought possible. They understand what it takes to survive online in today’s constantly evolving marketing world. Using proven and effective tactics, they will improve your online visibility and your bottom line.
Move Your Business Forward Today!
Nowadays, you can’t afford not to be found online. It is vital to your very success both today and in the future. In honor of National Small Business Week, take a stance and invest in your future with a solid online presence. While you focus on your success, do not forget to support other small businesses. Shop local to nurture your community and fellow business owners.
If you need an effective online marketing strategy that caters to small businesses, I can help. Contact me today to learn more about how I can help you reach your business goals.