Digital marketing can be tricky, even for the big guys. With the quick-moving trends and exposure everyone comes across daily, being aware of those challenges can give perspective to clarify what resonates with them to explore; finding forward movement.
Here are top troubles today's accounting firms should know when marketing in today's digital landscape:
1. Who has got the money?
Having limited resources is likely a trouble that small business owners are already aware of to begin with. As they generally don’t have the same resources or budget as larger businesses, finding the funds to invest in digital marketing can be problematic or take resourcefulness. Where bigger companies may have several to tens of thousands to spend on online advertising each month, a small business may have difficulty coming up with a spare $500 to put their name out on the web.
2. No petty cash, no leeway
Sometimes having a small business is like living paycheck-to-paycheck in that the costs have to go first to establish themselves enough currently to last enough time to get to the point of being able to plan for the long-haul. Once they get established, they can start putting away savings for long-term digital marketing tactics. In the meantime, their focus tends to be drawn to the more immediate types of marketing vs. configuring a sustainable strategy.
3. A squire chasing a train
One thing that will get in the way no matter your business savvy in other areas is simply a lack of experience or knowledge of how to produce a successful digital blueprint. And if there is knowledge, with the quickly changing culture and environment the internet allows, keeping up and staying relevant in digital spaces can be a struggle.
4. Striking a work/life balance with time management
Time can be a barrier to executing a comprehensive digital marketing plan. Small business owners tend to be very involved with the everyday operations of the business from managing the accounting books to working the cash register. The upside is great customer rapport and working toward turning a profit. The downside can be a lack of time to spare between all the responsibilities, especially when they prioritize spending time with their families and personal wellbeing.
5. The devil is in the details
When it comes to measuring the return on investment (ROI), companies with more revenue or experience know the value of their digital campaigns as they often conduct extensive data analysis. If small businesses can’t access or don’t yet understand the untapped benefits of advanced analytic tools and resources, they may not feel comfortable moving forward to putting money where they can’t source the impact.
6. It’s a jungle out there
It’s wit & perseverance when it comes to how small businesses survive as a creature in a jungle of much bigger brands with high recognition and marketing budgets. Gaining the eye of a consumer in marketing spaces means you have to make an impression, and make it fast, with a limited budget. Strategic planning of where, when, how, and what of an ad takes know-how, time, and money. The trifecta that is achieved by the most advanced of hometown store owners.
Becoming aware of the above common struggles that small companies experience can empower them to consider what long-term goals to hone in on. From there, breaking down the next steps that keep them inching in that direction is where to start.
By developing a clear strategy, investing in the right tools, resources, and relationships with digital marketing professionals and teams that are their fit, small businesses can take themselves to the next level. That’s the power of a growth mindset.
Derek Chew is the Founder and CEO of Fullmoon Digital. A former early Yahoo! employee where he cut his teeth in digital marketing. Fullmoon Digital is one of the few 100% independent digital marketing agencies in the United States. The firm is cross-functional with deep experience in SEO, digital strategy, programmatic, analytics, performance marketing, paid media, social advertising, and creative. They push the envelope of what is possible in terms of marketing and technology, all the while providing best-in-class digital marketing service to their “pack” of clients. For more information, please visit www.fullmoondigital.com.
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