If you own a business or intend to start one before the end of soon, you are probably considering a business marketing and growth strategy. To help you plan effectively, this article focuses on important small business growth statistics and marketing facts.
You might think setting objectives is an obvious necessity for any marketing and business growth strategy, but not everyone creates time to set their business expansion goals. According to a study done by CoSchedule, 70 percent of marketers said that they create their marketing objectives. 81% of marketers with pre-defined targets said their marketing was successful. That implies that marketers and business owners who set goals have a higher chance of success.
This isn’t a surprise. Having measurable and realistic targets gives you an objective that you can stick and work towards achieving it.
Often, business owners and marketers forego documenting and planning out their steps. Unfortunately, documentation is an integral part of business growth and marketing strategy. A well-thought-out marketing and business plan makes it easier to move forward as you and your business employees understand their roles and desired results.
This is true for business owners and managers running businesses with personalized goods and services. You have more to focus on than someone running a traditional e-commerce store. Thus, you must document every process, and this includes your marketing activities.
But research reveals that only 48 percent of marketers document their marketing strategies. What the other 52% of marketers don’t realize is that having a predefined, well-documented plan can have a significant impact on reporting success than just setting targets.
Every year, marketers and business owners are devoting increasingly larger portions of their business budgets to mobile marketing. A report created by IAB in 2016 shows that of all digital marketing budgets, 51% was dedicated to mobile advertising. Besides, it’s expected that this percentage will hit 70% by 2019 in the United States.
Given the ever-increasing number of internet users turning to mobile devices each year and the rising e-commerce revenue via online purchases, your competitors are likely to invest more in mobile advertising. And you aren’t supposed to forego such opportunities.
Search engine advertising
Most businesses are now running paid search engine advertising campaigns. If you haven’t made such an investment, you’re missing out great opportunities. Approximately 65% of internet users who click Google AdWords do so with an intent to purchase something online. That’s a high potential business, and you should focus on ensuring that these users choose your ads over your competition.
To benefit more while spending less, focus on enhancing your quality score and improve your online visibility. The latter is simple because you can use various extensions to make your ads stand out. According to research, having an effective call extension can enhance your CTR (click through rate) by 10 percent.
Setting business growth and marketing goals, documenting these goals, and upgrading your mobile and search engine marketing efforts are some of the sure ways of moving your business a notch higher.