Effective Marketing Strategies: Four Key Elements of a Successful Digital SMB Strategy
June 16, 2016No Comments
Local Small and Medium (SMBs) businesses that want to target Hispanic consumers digitally have highly transactional business needs, and a diverse Hispanic market that needs to be served . SMBs are primarily looking to drive foot traffic and deals. This is true for either an auto dealer looking to promote a test drive, or your local attorney who wants to increase new client leads. If it’s a digital program that an SMB is interested in running, a deep discernment of the local, Hispanic online constituency is a must.
Here are four key strategies to consider when building a digital program for your business:
1. Establish realistic timelines
Some digital strategies require time to realize their full benefits. For instance, take search engine marketing (SEO or SEM). SEM is complex and requires long-term thinking. On average, an effective SEO program would require a minimum of three months of running prior to securing a positive ranking. Setting up realistic timelines will allow you to establish achievable goals for your digital marketing program.
2. Define your campaign objectives
Defining your campaign objectives often is associated with understanding where you are in the marketing funnel. If you’re looking to drive awareness, you would mostly leverage display ads to generate broad interest on your product or services. If you’re looking for short-term conversion, as most SMBs are, you might rely more on e-mail tactics that convert lower funnel opportunities. All digital channels have some sort of baseline metric that can be used to establish campaign objectives. Use these Key Performance Indicators (KPIs) to set your campaign goals and measure results.
3. Know your audience
Knowing your audience is critical as it allows you to craft your message, your offer and ultimately make sure that your digital marketing efforts are relevant. In the Hispanic market, the task of defining your audience is more complicated as not all Hispanics are alike and they vary drastically based on acculturation levels. Targeting Hispanics online requires a thoughtful understanding of their acculturation levels and defining ways to both reach and engage with them based on linguistic and cultural best practices.
4. Set realistic budget expectations
We often fall into the trap where we’re looking to achieve certain results through digital media but our budgets are not realisticallyaligned to the objectives we’re attempting to secure. For instance, in display advertising, your budget is directly related to how many impressions can be delivered against your media buy based on a CPM (cost per thousand). Setting a budget too low in a relatively smaller market may not generate the required impressions to achieve a strong ROI. So understanding your campaign goals and setting realistic budgets against those objectives is critical.
Take into account which aspect of the Hispanic market your business wishes to target and adequately implement the key elements into your digital campaign. Doing so can give you a greater understanding of your goals and ultimately put your business on the right track to effectively serve the diverse Hispanic market.