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Small Business Online Marketing: How To Grow Business Profit Using The Internet - Business - Nairaland

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Small Business Online Marketing: How To Grow Business Profit Using The Internet by Nobody: 4:52am On Jan 20, 2021
Small business online marketing focuses on growing the sales volume and profit of a small business using the internet as the communication medium.

How does it work?

Well, it’s a numbers game.

Let me explain.

Every business has what is called customer conversion ratio. That is, the percentage of potential customers who buy from the business after coming in contact with the marketing message of the company’s products or services.

If a company’s customer conversion ratio is fixed, then the greater the number of people who come in contact with a company’s product or service message, the greater the number of people who will buy from the company.



Similarly, the fewer the number of people who come in contact with a company’s product or service message, the fewer the number of people who will buy from the company.

Consequently, the goal of every business owner is to develop a marketing plan that focuses on reaching the greatest number of potential customers possible at minimum cost.

That is how small business online marketing strategy was born.



The Benefits of Small Business Online Marketing

One of the key benefit of small business online marketing is that it empowers small businesses to reach a larger audience with their marketing message at low cost.

Offline marketing can be really expensive.

In fact, prior to when the internet became popular and available worldwide, the primary way to get large exposure for your business was to situate your business in a location where people walked past (or drove past) in droves.

Businesses that could afford to rent office or shop in busy spots in town with large human traffic were sure make more sales than local businesses who could not afford rent in those premium locations.




However, with cheap internet services now available to billions of people worldwide, more people are now online surfing through thousands of web sites per day.

Consequently, a small business does not have to worry about where it is physically located anymore.

Right now small businesses can compete fairly with much larger businesses for the attention of potential customers simply by developing a smart small business online marketing strategy.


CONTINUE READING FROM SOURCE: https://www.wealth-ideas.com/small-business-online-marketing-how-to-grow-business-profit-using-the-internet

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