There’s almost never been a better time for SMEs in relation to digital marketing and here’s why:
Affordability and accessibility
It wasn’t long ago that tools like marketing automation with CRMs were reserved solely for big businesses with big budgets. What once cost tens-of-thousands a year can now be acquired by SMEs from as little as US$49 per month.
These digital tools have also never been easier to use; online certification, improved user interfaces and drop-and-drag builders are just some of the reasons why digital marketing is more accessible than ever.
Potential growth
Some digital tools like marketing automation are extremely powerful and when utilised properly can be the catalyst for exponential growth. From the elimination of manual tasks, through to email nurture campaigns; marketing automation can allow SMEs to scale up and innovate in new ways.
Greater agility
The speed in which SMEs can move in the area of digital compared to many big businesses within Australia is substantial. The issues facing these big businesses are numerous and predictable:
1. Innovation culture
Australian businesses in specific industries have experienced consistently strong economic times and as a result innovation (especially digital) has not been at the forefront of their thinking. This has created three major issues; (1) they are behind in the digital space, (2) they’ve lost the art of innovating and (3) they don’t have the right personal with the required digital skills.
2. Stakeholder management
Depending on the culture of the business, stakeholder management in large businesses can not only hinder the timely delivery of digital projects, it can also steer it viciously off course. The age old adage that too many cooks spoil the broth holds true in this scenario. Thankfully, SMEs are often associated with a flatter business structures and consequently are much easier to navigate.
3. Bureaucracy
Bureaucracy can take many forms in large business (I’ve worked at a place where I needed IT admin permission to defrag my computer) and it will hinder digital marketing initiatives to varying degrees. Whilst big business wade through a litany of bureaucratic nonsense, SMEs have the potential to move through this process with much greater ease.
4. Agency expenditure
There is a belief among many big businesses in Australia that digital marketing isn’t any more affordable or accessible than it was 10 years ago. Unfortunately, the same businesses often fall victim to agencies who lure them into dependency. In short, SMEs can potentially pay a lot less than big businesses and may even achieve better, quicker outcomes when it comes to digital marketing.
