Getting a great web presence will certainly help every single business out there (including individuals, self-employed professionals, and bloggers) — even if it’s local butcher shop, a mom-n-pop coffee shop, or a regular retailer.
Every business can have a basic social media presence. You can have a fantastic website that has some sort of content to let the world know what makes your business unique and special. Do it with text. Add video to add some oomph. Keep your social media active.
That’s something, but it’s not like you’ll go all out with blogging, social media management, email marketing, paid ads, marketing automation, and the whole shebang.
Not many businesses realise this but digital marketing is not a good fit for every business out there.
While digital marketing fits like a glove for some kinds of business, it’s a complete misfit for a few others.
Just like it is with most things with business, you’d have to look at a few things and ask certain questions to determine if digital marketing is a good fit for your business.
What questions should you ask? Here you go:
- Does your business cater to regular customers or only businesses? Phrasing it differently, are you B2B, B2C or both?
- The niche your product or service relates to, is that something you can produce a lot of content about — in all the forms available such as text, video, and audio — continuously, for a long period of time?
- Do you clearly see how all the content you produce helps your potential audience in some way? Is there a way for you to kick ass with content such that their life is made better somehow? Or maybe you have an ability to solve problems really well by educating your potential audience?
- For the sum total of what you’d spend on inbound marketing — including the actual time and cost of producing content, for the marketing stack you’ll invest in, for the team, for other business related expenses — do you find your profit margins high enough to justify the effort expended on digital marketing?
- What is the price point of what you sell? What’s the profit on each product or service? If it’s monthly subscriptions, what’s your MRR (Monthly Recurring Revenue) and the resulting monthly margin?
Considering that we mean all digital marketing channels when we say “digital marketing”, clearly, here are a few business types that aren’t a good fit for digital marketing:
Businesses selling products at low profit margin
If your products or services have low profits, digital marketing isn’t for you. Decide how you want to do marketing and the actual channels you’ll choose but digital marketing — when you have to do it the right way — gets expensive. You won’t be able to get any returns from the time and cost that digital marketing actually incurs.
There are exceptions to this rule, but for most of us with businesses at low profit margins, you’ll have to find another way to do marketing.
Businesses that want It Yes’day
Digital marketing — all of it — demands the right execution for a long period of time. You can’t expect to start blogging, try to grow your email list, do social media, or do email marketing and expect to get results today.
You might get a few leads. You’ll even make a sale or two, but it won’t last. Don’t even try.
Want short cuts? I suggest you let go of your business.
Businesses that don’t learn
Most businesses just don’t get it. But that’s alright. It so happens that you can learn to do it right or have the right team work with you on digital marketing.
A business is a reflection of the founders. If the founders are idiots crushed under the weight of their own ego and if they are unwilling to learn and grow, you are looking at a blank wall as far as digital marketing is concerned.
What kind of a business are you? Is digital marketing the right for your business? Talk to me.
Hey! Just want to get this out of the way. Some of the links in the blog post (and/or videos) are affiliate links. This means that I’d earn beer money if you ever decide to purchase any of the tools, products, services, plugins, or anything else I could be linking to. For more details, please do read my affiliate disclosure policy.