When you start a new company, you are often faced with the dilemma of where to invest money. Maybe you need to spend a significant amount on equipment and building costs, or maybe you are a small startup with a small budget. No matter your situation, it’s crucial to save enough money to market your business. What often happens is companies spend lots of money on the atmosphere and building, but no one knows they exist. Most companies fail in the first year, because it takes skill and effort to build a client base. You need a team that can help you gain traction in your current market, and beyond.
Time is money, and every day that passes where you don’t make sales quotas, it just makes it harder to catch up. Next thing you know, you are relying on credit and downsizing. Protect yourself against falling into obscurity by investing in digital marketing and SEO. Organic SEO is one of the best investments you can make. Over 80% of new customers click on Organic Search Results, the results under the paid ads on Google. While paid ads are helpful in getting immediate results, organic SEO is a long term strategy, and will pay off more in the long run. Clients who rank high in the Organic Search Results are favored highly among users; these businesses are seen as the leaders of their industry and get immediate trust. Organic SEO can help you become the go-to source of information or products in your industry.
Finding the balance of how much to spend, vs. how much traction you are gaining is something that has to be analyzed. You never want to waste money on keywords or ads that are not getting results. It takes market research, and researching keyword analytics, to be able to determine the best course of action for your business. You always want to be investing in marketing that targets your current demographic, but it’s also wise to invest in emerging markets and breaking into new ones. Customer’s tastes change, and as your current customers get older and develop new interests, you will always have to be seeking new customers to grow and succeed.
Once your company or brand has gained enough traction in the market and your budget has increased, you can start investing more into digital marketing, including content creation, new product lines, daily social media posts, trade shows, ads, and more. Reinvesting into your company in the first year will increase the likely hood of its success; you can expand your product line, add more information to your website, or invest in more targeted online ads. Customers these days live on their phones, close to 85% of customer’s research new products online before making purchases. This means you need to be found on the web for clients to take your business seriously, and your website needs to be intuitive and user-friendly.