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10 Winning Digital Marketing Strategies for Small Businesses

Posted on by Jamie Cohen

In today’s fast-paced digital world, a savvy online presence is no longer optional for small businesses. It’s crucial. As a small business owner, you’re likely looking for effective ways to reach potential customers and grow your enterprise in this bustling online marketplace.

Digital marketing strategies can be your game-changer here. This arsenal of tactics will help you connect with your audience at the right place and time—the digital space where they spend most of their time. So, let’s dive into some proven digital marketing strategies that could boost your small business.

From SEO optimization to social media management, email marketing to content creation—we’ll cover all these success strategies in this article. We’ve got you covered whether you’re just starting or looking for fresh ideas to revamp your existing strategies!

Welcome To Digital Marketing

Welcome to the exciting world of digital marketing! If you’re a small business owner, this guide is specially tailored for you. It’s time to dive in and explore the potential of online marketing for your enterprise.

What is Digital Marketing?

Digital marketing, simply put, encompasses all those strategies that use internet-based platforms to promote products or services. This includes social media advertising, email campaigns, content marketing, and SEO (Search Engine Optimization). The beauty of it? You can reach your customers directly on their smartphones and computers—wherever they are!

Here’s a quick breakdown:

  • Social Media Advertising: Leveraging platforms like Facebook, Instagram, or LinkedIn to promote your product.
  • Email Campaigns: Directly reach consumers through their inboxes with personalized messages.
  • Content Marketing: Creating valuable content such as blogs or videos that drive traffic to your website.
  • SEO: Optimizing your website so it ranks higher on search engines.

How Can Digital Marketing Help Your Small Business?

You might be thinking: “That sounds great, but how does it help my business?” Well, let’s break down some ways digital marketing could be beneficial for you:

  1. Increased Visibility: With the right strategies in place, more people will see what you offer, which means more potential customers!
  2. Better Engagement: Digital channels allow two-way communication with clients; making them feel heard enhances customer satisfaction and loyalty.
  3. Cost-Effective: Unlike traditional methods like TV ads or billboards, online advertising generally provides a better return on investment (ROI).
  4. Measurable Results: One significant advantage of digital platforms is they provide detailed analytics about consumer behavior—invaluable information when shaping future strategies.

Whether creating an engaging social media campaign or optimizing your site for Google searches, there’s no limit to what effective digital marketing strategies can do for your business! So, buckle up and get ready to navigate the digital marketing landscape.

Understand Your Targeting Audience

Embarking on your digital marketing journey? It’s essential to start with a clear understanding of your target audience. Knowing who you’re trying to reach forms the backbone of any successful marketing strategy.

Small businesses often make the mistake of thinking they need to appeal to everyone. But that’s not true. Instead, you can create more effective and tailored campaigns by honing in on a specific demographic or group.

Think about it: You wouldn’t talk to a teenager in the same way you’d communicate with a senior citizen, right? So why should your digital marketing strategies be one-size-fits-all?

Let’s break down some key steps:

  1. Identify Demographics: Age, location, and gender are all essential factors that influence consumer behavior.
  2. Understand Interests and Behaviors: What do they like? What are their hobbies? The answers could lead you straight into their inbox or social media feed.
  3. Know Their Challenges: If you understand their problems, it becomes easier for you to present your product as the perfect solution.

Remember: A clear understanding of your target audience will help shape every aspect of your digital marketing strategy. From the platforms you use for promotion (TikTok for younger audiences, perhaps?) to what kind of content resonates best with them (funny memes or thought-provoking articles?). Keep digging until you genuinely “get” who they are—because everything else falls into place once you do that!

Build a Fast Website

Let’s dive right into one of the most critical aspects of digital marketing strategies for small businesses—building a fast website. Speed matters and it’s not just about ensuring visitors don’t get bored waiting for pages to load. In fact, the probability of a visitor bouncing from your website increases over 30% with a 2 second increase in load times. A snappy site is just better for business.

Ever wondered why speed is such a big deal? Here are some reasons:

  • User Experience: It’s no secret that today’s internet users expect instant gratification. A delay of even a few seconds can cause frustration, leading potential customers to abandon your site.
  • SEO Ranking: Google has clarified that page speed impacts search engine rankings. The faster your website, the better chances you have to rank higher.

You’re probably thinking, “Great, but how do I make my website faster?” Well, there are several ways to improve your website speed:

  1. Optimize Images: Large image files take longer to load. Ensure you use the correct file format and compress images without compromising quality.
  2. Use a CDN (Content Delivery Network): CDNs cache copies of your web content in multiple locations worldwide so they can be delivered more quickly to users far away from your main server.
  3. Enable Browser Caching: This allows visitors’ browsers to store copies of individual web pages so they load faster on subsequent visits.

There’s no denying that having a fast-loading website is essential to any successful digital marketing strategy for small businesses!

Add Conversion Points

Getting your small business noticed online is one thing. Turning those eyeballs into active customers? That’s a whole other ball game. One of the most effective digital marketing strategies for small businesses is adding conversion points to your website.

Contact Forms

Let’s kick things off with contact forms. A great tool, it’s like an open invitation for potential customers to reach out directly to you. This allows them to ask questions, request quotes, or just get in touch. Plus, it can be a goldmine of valuable customer data. Just remember:

  • Keep it short and simple
  • Only ask for the necessary information
  • Make sure it’s easy-to-find and user-friendly

Phone Number

Next, we’ve got phone numbers – an often overlooked conversion point that can work wonders if used correctly. It provides immediate access to your team and adds a human touch that many online businesses lack. Here are some pro tips:

  • Display your number prominently on every page
  • Consider adding click-to-call functionality
  • Include hours of operation if applicable

You’d be surprised how much difference a visible phone number can make!

Live Chat

Finally, there’s live chat—an increasingly popular tool among small businesses aiming for superior customer service and increased conversions.

Live chat offers real-time assistance without disrupting the browsing experience, hence why users love it so much! To make the most out of this feature:

  • Ensure you have dedicated staff available during peak hours
  • Personalize responses as much as possible
  • Use automated messages sparingly (no one likes talking to robots all the time!)

Incorporating these elements into your website design helps convert visitors into leads and creates multiple avenues for engaging with prospects—ultimately boosting sales. The magic lies in finding what works best for your industry and audience.

Search Engine Optimization (SEO)

On-Page SEO

On-page SEO is where you’ll want to start when you’re looking to improve your small business’s digital marketing strategy. It’s all about optimizing the content and HTML source code of a page on your site. This can include things like:

  • Title tags: These appear in search engine results, so they need to be concise and descriptive.
  • Meta descriptions: Although they don’t directly affect rankings, they influence click-through rates.
  • URL structure: Keeping URLs short and filled with relevant keywords can aid visibility.


Don’t forget about using keyword-rich content within your site as well! But remember, it’s not just about stuffing as many keywords into a page as possible. Google values relevance and quality over quantity.

Off-Page SEO

Next up is off-page SEO, which refers to actions taken outside of your website that impact its rankings within search engine results pages (SERPs). This often comes down to backlinks—links from other websites pointing back to yours.

Building a solid network of high-quality backlinks isn’t easy, but it can boost your online presence. Guest blogging or collaborating with influencers in your industry are just two ways you could achieve this.

Create Helpful Content

But let’s not overlook the importance of creating helpful content. If there’s one thing Google loves more than anything else, it’s fresh, original content that provides real value for readers.

Think blog posts, infographics, video tutorials—anything that keeps visitors on your site longer and encourages them to share what they’ve found with others. 

Remember:

  1. Quality trumps quantity every time
  2. Engage with readers by responding promptly to comments
  3. Update older posts regularly

Incorporating these strategies into your digital marketing plan will help drive traffic toward your small business in an increasingly competitive online marketplace!

Local SEO

Your small business deserves to be found online. That’s where Local SEO comes into play. It’s a unique approach that helps companies promote their products and services to local customers right when they’re looking for them.

Google My Business

Google My Business is your new best friend in the digital marketing world. This free tool allows you to manage your business’s appearance on Google Search and Maps. You can include important details such as your address, hours of operation, and contact information, all of which make it easier for potential customers to find you. An optimized Google My Business listing means increased visibility on the web, more foot traffic, and ultimately a boost in sales.

Reviews are King

You’ve probably heard it before: reviews matter. But did you know that 97% of consumers read online reviews for local businesses? And nearly 90% trust these reviews as much as personal recommendations. These stats demonstrate that customer feedback is vital in shaping your brand image online.

  • Encourage happy customers to leave positive reviews
  • Always respond professionally to negative comments
  • Showcase standout testimonials on your website or social media channels

Remember: each review contributes towards building trust with potential clients!

Local Directories and Citations

While we’re on visibility, let’s talk about local directories and citations. These are places like Yelp, Yellow Pages, or TripAdvisor, where users go to find businesses like yours.

Ensure you have consistent NAP (Name Address Phone) data across all platforms:

  1. Correct any outdated information
  2. Add high-quality photos
  3. Write compelling descriptions about what sets your business apart

Each citation increases the likelihood of being found by potential customers!

Differences between SEO and Local SEO

Think of SEO like a global competition—everyone vies for coveted top spots in search engine rankings regardless of location. On the other hand, Local SEO zeroes in on attracting customers in your immediate vicinity. It’s about dominating the search results for local queries like “hvac near me” or “best hvac in [your city].” Strategies for these terms take time and patience. Luckily, local SEO companies exist that focus on HVAC and other small business types to help busy small business owners.

Embrace local SEO as part of your digital marketing plan—it could be the game changer your small business needs!

Pay Per Click Advertising (PPC)

Pay-per-click (PPC) advertising should be a key part of your digital marketing strategy if you’re looking to grow your small business online. Why? Because PPC is an effective way to drive traffic, increase sales, and boost your online visibility.

Google Adwords

Google Adwords is the most popular platform for PPC advertising. You’ve probably seen these ads when you’ve done a Google search or browsed websites with display ads. They can be potent tools for small businesses because they let you target customers based on keywords, location, and more.

Google Search Ads

Google Search Ads are the ones that appear at the top of the search results page. These are highly visible and can quickly attract potential customers’ attention. They’re instrumental when people are actively searching for products or services like yours.

Google Display Ads

Another component is Google Display Ads, which appear on websites that participate in the Google Display Network. This is where visual appeal comes into play! Engaging images or graphics can make these ads stand out and catch users’ eyes while browsing different sites.

Here’s what makes them unique:

  • Reach: With access to over 2 million sites in the network, your ad could potentially reach 90% of internet users worldwide.
  • Targeting: You have control over where your ads appear based on factors like demographics and interests.
  • Flexibility: Choose between various formats, including text, image, interactive, and video ads.

Google Local Service Ads

Last but not least are Google Local Service Ads designed specifically for local businesses offering field services such as plumbers or electricians. Here’s why they’re worth considering:

  1. Visibility: These ads appear at the top of search results—even above traditional PPC search ads!
  2. Trust factor: Businesses listed here are “Google Guaranteed”

Investing in PPC marketing can provide a significant return for your small business. But remember, it’s not just about spending money on ads—it’s also about optimizing them to ensure they reach the right people at the right time.

Create a Blog

Building a blog isn’t just about writing and sharing your thoughts with the world. It’s a strategic tool for your small business, opening doors to numerous digital marketing strategies. But let’s break it down further.

Stay Relevant

In today’s fast-paced digital world, staying relevant is key. It’s not just about keeping up with trends but also being able to provide fresh content that aligns with these trends. A blog lets you do just that.

  • You can talk about industry developments
  • Share your perspective on trending topics
  • Or even give behind-the-scenes insights into your own company

The key here is consistency—always keep the content rolling!

Stay Helpful

Your blog isn’t simply an outlet for self-promotion; it should offer value to its readers. Think of it as providing solutions or guidance rather than pushing sales.

  1. How-to guides
  2. Tips and tricks
  3. Comprehensive tutorials

These are all great examples of helpful content you could include in your blog posts.

Drive Traffic To Your Service Pages

Blogs can bridge potential customers and your service pages, gently guiding them toward making a purchase or booking an appointment without overtly selling anything.

You might write up case studies showcasing how past clients benefited from your services or delve deeper into explaining what each service entails—both excellent ways to drive traffic where you want it most! Remember, while direct promotion has its place in blogging, subtlety often wins the race here.

By incorporating these strategies into your blogging efforts, you’re creating engaging content as well as laying out breadcrumbs that lead potential customers right back to you—like Hansel and Gretel, but without the scary witch part! So dive headfirst into the blogging world and watch as this simple yet effective strategy transforms how you approach digital marketing for good.

Content Marketing

In today’s digital age, content marketing has become a game-changer for small businesses. It’s your opportunity to reach out to your audience, engage them with compelling stories, and ultimately convert them into customers.

The beauty of content marketing lies in its versatility. Whether you’re crafting engaging blog posts, sharing informative infographics, or creating captivating videos—the sky’s the limit when it comes to content creation. Here are some key points you should consider:

  • Quality over Quantity: Your audience values high-quality content that provides real value. So don’t just churn out articles; make sure each piece of content is well-researched and insightful.
  • Consistency is Key: Keep a regular posting schedule. This helps build anticipation among your readers and improve visibility on search engines.
  • SEO Optimization: Incorporate relevant keywords into your text but avoid keyword stuffing. Remember: you’re writing for people first, search engines second.

Now let’s talk numbers. According to HubSpot’s State of Marketing report:

  • Businesses who prioritize blogging claim 13x more ROI
  • Content marketing gets three times more leads than paid search advertising

These figures illustrate how effective a solid content marketing strategy can be for small businesses.

Another crucial aspect of successful content marketing is understanding your audience inside-out. Knowing their preferences, needs, and pain points will allow you to create personalized messages that resonate deeply with them.

Content Marketing isn’t just about producing tons of material; it’s about providing genuine value to your audience through quality work tailored specifically for them. And if done right, it could be the magic sauce that takes your small business from obscurity into the spotlight!

Social Media Marketing

Now, let’s dive into the world of social media marketing. It’s a realm teeming with potential for small businesses like yours, offering an opportunity to connect directly with your customers and expand your reach. The key is knowing how to navigate this digital landscape effectively.

One critical aspect of social media marketing is choosing the right platforms. You’ve got options galore, from Facebook and Instagram to Twitter (X), LinkedIn, and more. Your choice should hinge on where your target audience spends their time online:

  • Facebook attracts a broad demographic and offers robust ad targeting.
  • Instagram appeals mainly to younger users who love its visual content.
  • Twitter (now X) is ideal for timely updates or customer service interactions.
  • LinkedIn caters primarily to professionals and B2B companies.

Another key strategy in social media marketing involves creating engaging content that resonates with your audience. This might include sharing behind-the-scenes glimpses of your business, offering valuable tips related to your industry, or posting user-generated content that showcases real customers using your products.

Don’t forget about the power of paid social media advertising, either. Platforms like Facebook and Instagram offer sophisticated targeting options that let you precisely reach your ideal audience based on factors such as age, location, interests, and more.

So there you have it—a crash course in social media marketing for small businesses. With these strategies in your digital toolkit, you’re well-equipped to make a splash online.

Just remember: it’s about making noise and listening to what your customers are saying. So, engage actively with them on these platforms; their feedback can be invaluable as you refine your approach.

Email Marketing

For small businesses, you’ve got to love email marketing. It’s a robust digital marketing strategy that shouldn’t be overlooked. Think about it: most of your customers check their email daily, if not multiple times a day. Using email marketing effectively, you can reach out directly into their inbox and grab their attention.

Email marketing starts with building an audience list—those who have expressed interest in what you offer by subscribing to your emails. Now, here’s the catch: these subscribers aren’t just random people, they’re potential customers interested in what you’ve got to say or sell.

To build this list:

  1. Offer something valuable like free eBooks or discount codes as incentives for signing up.
  2. Promote your newsletter across all channels—on your website, social media platforms, and offline events.
  3. Make the signup process easy and quick. No one likes long forms!

Now that you’ve got them hooked, let’s keep them engaged! Consistently sending high-quality content is invaluable for maintaining meaningful relationships with your subscribers while subtly promoting your products or services. Mix in a CRM solution and your business will boom.

The best email content can vary depending on what works best for YOUR business:

  • Regular newsletters updating company news
  • Blog post summaries
  • Special offers or sales
  • Event invitations

Remember, it’s not just about pushing sales; it’s also about providing value and nurturing relationships with your audience.

5 Biggest Marketing Mistakes Small Businesses Make and How to Avoid Them

Posted on by Veronica Agrella

“The art of marketing is the art of brand building.”

—Philip Kotler

If you look outside your window or take a stroll around the neighborhood, chances are you’re going to see at least one corporate billboard or any other advertisement piece. If you’re running some errands or just lying down on the couch watching TV, it’s possible that, at some point, you’ll receive a telemarketing call. If you check your social media, it’s a fact that you’re going to see lots of merchandise. If you perform an online search, you’ll encounter a few sponsored links at the top of the page. Yes, marketing is everywhere.

Yet, some business owners still fail to recognize the importance of promoting their companies the right way. In this article, you’ll discover the five biggest marketing mistakes small businesses make and how to avoid them and strengthen your strategy (and your sales).

 1. Seeing Marketing as an Unnecessary Expense

This can be considered the biggest marketing mistake small businesses can make for one simple reason: everything else stems from there. As cliché as it may seem, the right mindset is what sets successful enterprises apart from the struggling-to-keep-the-doors-open businesses. The ideal perspective, in this case, is seeing marketing as one of the most valuable factors for your company.

Marketing is what gets the words and brand out there. If your business isn’t seen, or even worse, if it’s portrayed incorrectly, your products or services won’t sell the way you expect them to sell.

A marketing strategy has the power to generate value for small businesses over time by turning leads into customers and, hopefully, customers into evangelists, boosting sales as a result. By reshaping your perspective, you can understand that well-executed marketing campaigns drive new opportunities — even during turbulent times.

As crucial as seeing marketing as a necessary ally is, it’s equally important to comprehend which tactics and approaches to adopt. This is where a marketing plan comes in handy, and this is where many small businesses fail once again.

2. Not Having a Well-Structured Marketing Plan

Even if business owners overcome the first mistake and decide to invest in marketing, things will go wrong if they don’t know exactly what to do and what steps to take in order to accomplish the established marketing goals.

For this reason, every and each marketing strategy should be outlined in a well-structured marketing plan. In short, this document serves as a framework for every marketing decision made toward achieving business goals. In general, you must ensure that the following factors are included in your plan:

  • the business’s ideal audience, or buyer persona, and exactly what they’re looking for
  • the specific budget allocated to all marketing efforts, such as building an adequate website, investing in marketing collateral, creating marketing campaigns, publishing content, etc.
  • the pricing strategy based on cost, value, and competitor analysis
  • technologies that will improve the overall strategy, such as Client Relationship Management (CRM) and Email Marketing software
  • metrics and Key Performance Indicators (KPIs) for measuring the performance of all marketing campaigns, such as Cost-per-Conversion (CPC) and traffic from organic search
  • an action plan and a schedule to promote the business.

Having a documented marketing strategy in place not only helps address financial costs but also improves the quality of spending in the right channels and materials. Plus, it helps new employees to be informed about the company’s marketing strategy and follow up on past marketing actions.

3. Lacking a Robust Online Presence

One of the biggest marketing mistakes small businesses make in this technological era is lacking a robust online presence. Small companies can prosper locally, of course, but they limit themselves from leveraging the digital possibilities of being discovered by numerous clients from other cities, states, or countries and earning more. Besides, a robust online presence has many paths to help a company:

1.  Competitive advantage: A digital marketing strategy helps you differentiate the products or services you offer, besides allowing you to effectively communicate to a broad online audience the Unique Value Proposition (UVP) of what you’re selling. This way, you gain an advantage over the competition, and consumers may be drawn to your company instead of buying something from other businesses.

2.  Value generation: Another way to use the power of a strong online presence is to educate potential customers through a content marketing strategy instead of only trying to sell to them. In short, powerful content generates powerful results, and when potential clients see value in what you’re providing, they become more inclined to make a purchase.

3.  Authority increase: A corporate website helps drive authority and trustworthiness among visitors and potential clients, and ignoring this fact could be devastating from a marketing point of view. Besides using a responsive and mobile-friendly website, it’s possible to use different social media channels to increase authority and drive positive results, such as Twitter, TikTok, Facebook, and Instagram. Plus, through a well-structured inbound marketing strategy that uses SEO tactics, it’s easier for consumers to find your business online, which assists in generating brand awareness.

By establishing an online presence, you give potential clients a chance to get acquainted with your company and learn about the products or services you’re offering whenever they want to without the need to set foot in a physical store.

In fact, there is a study demonstrating the impact of online research before concluding in-store purchases, with 82% of smartphone users performing online searches related to the purchases they are about to make in brick-and-mortar stores.

4. Reaching Out to the Wrong Audience

Targeting the inappropriate audience can result in all of the other factors being wasted, no matter how great your business’ marketing campaigns, logo, or message are. It’s important to note that the ideal audience must be discovered through data analysis, not through a “gut feeling” or an unfounded notion about who the clients are. Targeting the masses is also not ideal because you end up spending more and making fewer sales conversions.

There are a few tactics you can use to understand who your customers are and the problems they’re trying to solve:

  • conduct a thorough market research
  • assess the company’s website traffic
  • create social media polls to gather more data

With online polls or surveys, for instance, you can find out about your audience’s demographics (gender, age, race, income, geographic location, etc.), discover their pain points, and create a buyer persona.

By defining a buyer persona based on actual data, it’s possible to tailor your marketing efforts to match the interests and preferences of potential customers. In turn, the marketing campaigns and collateral will become more attractive and effective, and the products or services you offer will sell more.

Reaching out to the right audience has one more perk: receiving and addressing customer feedback. Many company owners fail to realize its importance, but feedback is so good to a business that it’s almost unbelievable it’s free. If the majority of feedback received is positive, keep up the good work. Now, if many customers are complaining about one or more issues, you know you have to tweak and improve what you’re selling to satisfy customers, sell more, and achieve that coveted word-of-mouth marketing.

5. Rejecting Marketing Metrics and KPIs

Last but not least, rejecting marketing metrics and KPIs can create a fog in a company’s marketing efforts. After all, if you can’t see things clearly, how will you know if a strategy is working as expected? Ignoring analytics prevents employees from understanding what is working, what doesn’t work, and what can be adjusted to bring in the desired results.

There are many valuable metrics and KPIs to track in order to understand what’s going on, such as Website Conversion Rate, Customer Satisfaction Score (CSAT), and Return on Investment (ROI). In short, using data is key to assessing the effectiveness of marketing activities and improving results.

Let’s see a practical example: suppose you decided to invest $3,000 in a marketing campaign to generate more leads and conversions for your company. You invested $1,000 in social media, $1,000 in guest posting, and $1,000 in PPC (Pay-Per-Click). Which strategy was the most effective and resulted in more profits?

Data will tell you that and allow you to adopt a strategic approach. For instance, if you found out that one of these strategies had little to no return, you can shift your marketing spending to focus on the other two, generating even more revenue.

Additionally, monitoring, collecting, and sharing data through marketing automation tools also helps you to:

  • keep up with emerging trends and adapt to industry changes, which helps stay ahead of competitors
  • make informed decisions
  • allocate resources effectively
  • promote effective collaboration among sales and marketing departments
  • create transparency and accountability among employees
  • build a data-driven and results-oriented work culture
  • guarantee continuous improvement and sustained growth

Luckily, digital marketing is invaluable in terms of measuring and analyzing information. For instance, Google Analytics and Google Search Console are helpful tools to generate insights related to the corporate website’s visitors and overall website performance without spending too much.

In short, establishing and tracking metrics and KPIs is an effective way of evaluating the company’s marketing efforts because they help to analyze actual data, which allows business owners to change their strategies to match the audience interests and keep on satisfying and retaining current clients while attracting new ones.

For starters, a good idea is to take one step at a time by following the exact order of the topics above, delegating tasks to competent professionals, and improving the marketing strategy over time according to your ever-changing business goals.

How to Retain Great Employees: Top 5 Tips for Small Businesses

Posted on by Veronica Agrella

Are you a small business owner trying to understand how to retain great employees? Well, it’s not a secret that bad employees may harm a company’s growth, while great workers often drive exceptional results and help businesses thrive.

Despite this fact being obvious, many business owners still face the same challenge of retaining and motivating the right talent. Besides impacting the bottom line directly, losing efficient workers has another crucial downside: the cost and time it takes to replace them. Hiring top-talented employees is already difficult enough, and letting them go because of inefficient business processes and culture shouldn’t be an option.

There are many ways to retain high-level talent, but you need to think outside the box and adapt to market changes. In this article, you’ll explore five steps that you should follow to retain talent and help your business grow with their assistance.

The Challenge of Retaining Talent

Looking in the reviewer mirror, movements like The Great Resignation and Quiet Quitting that emerged in the past few years have put pressure on employers.

As workers have reassessed working conditions and decided they want to get more out of their personal and professional lives, small businesses are trying to reinvent themselves to provide more flexible experiences, diverse workplaces, and ongoing opportunities for professional development to attract and retain great employees.

According to the research “The Megaphone of Main Street: Employee Engagement”, published by Score, the main challenge for 60.7% of respondents is hiring the right talent, while for 33% of them, the greatest difficulty is retaining and motivating employees.

For these small business owners who participated in the study, the primary reasons for disengaged professionals are wages and healthcare benefits. These respondents also said that unhappy and less engaged employees cause:

  • Loss of productivity, according to 41.7% of the respondents
  • Loss of new sales, according to 22.8% of the respondents
  • Loss of clients due to lack of service, according to 18.9% of the respondents

Over time, all these factors reflect on the business growth and morale.

It’s worth noting that increasing wages isn’t the only solution. Employees also want to work in environments that foster a positive work culture, offer professional development opportunities, and leverage flexible work options. These elements, in turn, have a positive impact on small businesses’ bottom line.

How to Retain Great Employees and Help Your Business Thrive

Some businesses are facing a talent shortage worldwide, and the low unemployment rates in the UK and US reflect why some workers are demanding higher wages and more benefits. On top of that, there is a broad skills gap in many areas, especially in the technology field, which requires offering training to professionals in order for them to update skills related to working with machines and AI. The scenario doesn’t seem promising.

However, if you want to know how to retain great employees and keep them motivated, you can start adopting some obvious and not-so-obvious options, such as:

  • Offering higher wages
  • Improving the work culture
  • Providing professional development and training
  • Sharing profits quarterly or annually
  • Offering bonuses based on certain criteria, such as overall performance
  • Implementing small perks, such as a day off on birthdays
  • Creating a career progression program
  • Elaborating DEI policies and programs

To optimize your efforts and results, you may talk directly to employees through a Stay Interview to gather feedback, understand their needs, and take action. Sometimes it won’t be feasible to meet all their needs, but improving something as a result of the feedback can get you started on this process and show them you’re committed to valuing their work.

Below, you’ll explore five tips to help you retain and motivate your staff.

1. Offer Flexibility

Providing flexibility allows employees to balance their personal and professional lives, which can boost productivity and improve results. When they have the freedom to attend medical appointments, go to the gym, and take care of their children at their own pace, for instance, the quality of work tends to improve, benefiting everyone involved, including you. In general, you can:

  • Offer flexible hours or flexible days
  • Implement a program in which employees can choose the hours they work
  • Test the 4-day workweek
  • Allow the staff to work remotely

Besides being appealing to workers in different industries, this flexibility often doesn’t cost much money, or anything at all. In some cases, remote work can even help businesses save money. Other advantages for you:

  • It increases employee satisfaction.
  • It helps the staff become more productive
  • It assists in saving money on space and furniture
  • It improves client satisfaction due to the improved work quality

In short, offering flexible work schedules and remote work options is a great ally in retaining talent. I mean, who likes to spend hours stuck in traffic?

2. Create a Career Pathing Plan

Visualizing one’s own career growth within the company is a great tool to motivate employees. The reason is simple: they know they have room to grow professionally and earn more.

Besides being great for retaining employees, having a career pathing plan in place helps businesses rely on a well-structured process that facilitates transitioning from one position to a higher one in the hierarchy or from one level to a higher one in the same job, in case you don’t have many management positions at your company.

In this scenario, you could promote workers based on skills, for instance, until they reach senior positions. If an employee holds a junior quality analyst position and develops new skills, they could simply be promoted to an intermediate position with better pay.

3. Nurture a Positive Corporate Culture

Part of your staff may be composed of Millennials and Generation Z workers. Understanding this is crucial for retaining talent. And why is this important?

Depending on different generations, your current corporate culture may be actually toxic instead of professional. Do you or the company’s managers yell at employees, point fingers when someone does something wrong, or lack an efficient communication system? These factors may discourage employees and make them feel like they’re being constantly attacked by their superiors.

Overall, nurturing a positive corporate culture encompasses many aspects of a business’s daily routine. Let’s see two examples below.

Creating efficient processes and working with efficient tools

If your employees can get things done faster with the help of software, for instance, you should commit to offering the best technologies they can use. In general, it’s possible to:

  • Implement a system that assists in managing the business, such as an ERP.
  • Provide software to manage client relationships, such as a CRM.
  • Use a system to simplify invoicing.
  • Utilize an email marketing software.

Embracing diversity, equity, and inclusion (DEI)

For some workers, an attractive workplace embraces diversity, equity, and inclusion through DEI policies and programs. Nowadays, employees don’t want to work in environments where coworkers feel free to make comments or behave in ways that disrespect groups of people.

Sexism, racism, homophobia, and xenophobia, among other issues, should have a zero-tolerance policy in your company. Besides the legal issues tied to them, they’re harmful and non-inclusive. Embracing and appreciating diversity, equity, and inclusion also helps you retain young talent and create a brand that truly respects all customers.

If this is a new topic for you and your business, talk to the Human Resources staff to develop a program to adjust the culture and foster a more positive workplace.

4. Develop an Attractive Employee Benefits Program

For small businesses, offering higher wages translates to higher costs, which may significantly impact their survival. While a company should always strive to recognize its employees’ efforts and reflect this in higher pay whenever possible, it must also consider the current resources available.

Before creating an employee benefits program, consider these elements:

  • Health
  • Finances
  • Wellness through work-life balance
  • Professional growth and development
  • Diversity, equity, and inclusion

The ideal benefits package should offer a combination of these categories. Of course, there are mandatory benefits that you must provide to employees, such as family and medical leave, health insurance, unemployment insurance, and workers’ compensation. However, the optional benefits are what actually matter when it comes to retaining great talent.

As mentioned in the previous topic, your current workforce may consist of Millennials and Generation Z employees. Overall, they may be interested in benefits that address college debts, for instance. In this case, the company could include in its benefits package the option of paying a percentage of this debt while workers are employed.

Offering time off is another benefit that may lead to higher retention rates and goes beyond higher wages and expensive incentives. As an example, you could offer one whole day off every two weeks or a day off on birthdays.

These benefits improve workers’ professional and personal lives by enhancing their health and well-being. In turn, employers benefit from the boost in workers’ productivity and job satisfaction.

5. Train the Management Staff

Last but not least, train your management staff. All the efforts discussed earlier could go to waste if the managers don’t treat people with respect or overwhelm them to the point where employee burnout becomes a reality in your company.

It’s crucial to provide proper training for company leaders to manage their teams successfully. Good managers not only help to retain great employees but also guide them toward effective leadership.

If managers demonstrate toxic behavior, chances are that the employee retention rate will never reach the desired results. To tackle this issue, consider providing training to current managers or replacing them if the efforts for improvement don’t work out as expected.

Reinforcing positive behaviors in the workplace is a task that small business owners should prioritize. By doing so, it becomes easier to handle conflict, respect individuals, and achieve results that enhance the company’s bottom line.

Now that you know how to retain great employees, you can work closely with the HR department to develop attractive solutions.

Small Business Success: A Guide To Avoiding Financial Crisis

Posted on by Matt Haycox

Small businesses need to have risk management and mitigation strategies as part of their business plan. Any number of factors can cause a financial emergency, as the COVID-19 pandemic has proven, and it can be challenging to keep a small business alive during these times. In today’s landscape, where some people say that a recession is already here, this is especially relevant. There is no set playbook to follow when times get rough since different companies across different industries carry their risks and rewards. 

However, there are certain business strategies that business owners can adopt to make sure that they can avoid financial crises. This requires meticulous planning and an understanding of how the market works. Here is our guide for small businesses to steer clear of financial emergencies. 

Always have a plan in place 

It is imperative to have a financial plan for your business because this helps you to understand your income and expenses. This will help you have a record of your investments, cash reserves, expenses and savings. With a plan like this in place, your business will have clearly defined goals which will allow you to invest your money wisely. This is the first step towards preparing yourself for the onslaught of an economic crisis. 

Go over your finances frequently

One of the best ways you can stay afloat during a financial crisis is by only covering your essential costs and not spending on extras. For this, it is necessary to list down your essential requirements as well as the budget you need for them. Sticking to a budget is a critical component of financial risk management for small businesses. It is all about trying to find the balance between staying within your budget and coming up with innovative ways to market your products and services. 

It is also critical to maintain your financial records so that you can reduce the chances of any financial mishap during times of crisis. Small habits such as organizing your records correctly and neatly, and making a note of who owes you money and how much you have borrowed from investors will be very helpful in the long run. Moreover, this will give you a thorough idea about your company’s financial standing, so you will be in a better position to access whether you will be able to make it through periods of recession.

Reduce overhead expenses

Overhead expenses might not seem like a lot initially, but they can add up to be one of the biggest reasons why your business consistently fails to stick to a budget. In times of financial crisis, it is important to reduce overhead expenses as much as possible. For example, hiring freelancers instead of full-time employees can be a way to reduce costs during troubled times. 

Always have an emergency fund

Any extra cash that your business makes should ideally be invested in some form of cash reserve which will act as an emergency fund during difficult times. Savings will carry forward your company during these times, which is why it is very important to always have enough emergency expenses. For example, consider saving any extra profit instead of reinvesting the amount or sharing it as a dividend among shareholders. 

Make sure your income channels are protected

By using unit economics, it is important to find out which income channels are the most important for your business. Once they are identified, you should strive to protect these channels and secure the profits generated by them. This might sound easy, but it would involve taking a lot of strategic business decisions, such as adjusting your business model, cutting down on products that do not generate enough revenue, or optimizing pricing models. 

Pay attention to your customers 

Many businesses tend to lose sight of their customers during times of financial distress, when other things may take precedence. Nevertheless, you must never take from your customers since they are the lifeline of every business. Do not compromise on the quality of your products and your services even during financial emergencies. You may want to save on costs by doing so, but this strategy could backfire and you may end up losing customers. This will lead to a drop in sales, which can be deadly for your business, especially during bad times. Losing your customers can have an irreparable impact on your business, which may take years to recover from. 

Consider debt management and new financing carefully

It can be a tempting idea to pay off your debts so that you can start on a clean slate. However, this can affect your cash reserves, which can leave you in a fix if you experience financial issues down the road. Instead of paying off all your debts, assess which ones you pay the highest interest for, and start by paying off those first. 

During a financial crisis, you may also want to consider newer financing options. Secured business loans, for example, can be one way to go about this, since these have a longer repayment period. This will help your business particularly if you face seasonal cash flow issues. Having an established line of credit will help you sail through these tough times. 

However, before taking on additional debt, it is important to first assess the overall costs and payment amounts so that this does not result in debt mounting and simply covers up a serious systemic financial problem. 

In Conclusion

When times are rough, it is very important to make strategically sound financial decisions. The slightest error in judgment could bring your business to the verge of bankruptcy. At these times, it is important to rely on instincts, but more focus should be given to financial trends, your company’s numbers and other relevant data. 

While you cannot control the course of the economy, what you can control is how your business runs. Tough financial situations will bring lots of challenges to your company, but the only way out is to deal with them the smart way through an efficient business strategy and a growth mindset.

Boost Your Small Business Growth: Leverage Software for a Successful Marketing Strategy

Posted on by Scarlett Finley

Did you know that 45% of small businesses fail within the first five years? One of the primary reasons for this is a lack of an effective marketing strategy.

So, you want to create a marketing strategy that sets your small business up for success? With the right software tools and resources, you can streamline your marketing efforts and get more out of your investment. 

In this article, we’ll explore tips and best practices for developing a winning marketing plan with the help of business management software.

Software for Different Types of Small Businesses

Small businesses face many challenges today. They need all available tools for success.

Let’s say you are running an eCommerce store; why not have it all set for you? Use Shopify and take advantage of the themes and plugins available to customize your store and make it unique.

Or maybe you are a coach needing help scheduling sessions and processing invoices. Paperbell does this for you, and you can focus on crafting powerful coaching questions to give your clients much-needed insight and help them grow on every level.

Realtors could use some help with managing the listings, as there’s no need to do things manually nowadays. With software like Zillow, your listing gets updated everywhere online after you update it at the source. It saves you time and headaches, doesn’t it?

Now let’s check out some amazing tools that will smooth your marketing journey and allow you to get the best results and achieve growth faster! 

Marketing Planning Tools

The foundation for a suitable marketing strategy lies in planning. In your marketing plan, you identify your target audience and the best channel to reach them. Marketing planning software is of great help here to ensure you will save resources on effective strategies.

But first things first, what exactly is marketing planning software? These software or online applications help small businesses plan, execute and track their marketing strategies. And these tools can vary greatly. For example, they can be simple spreadsheets or advanced software.

Selecting a user-friendly, budget-friendly tool is crucial. Some companies provide free trials or basic functions. Others need a subscription or a one-time fee. It’s also important to consider if the software integrates with other platforms like social media or email marketing software.

Content Marketing Software

Delving into the marketing world, one must recognize the significance of content. Essentially, content encompasses everything crafted to captivate and engage your target audience, including blog articles, videos, social media posts, and email newsletters.

Content marketing software serves as a valuable tool that amplifies your efficiency with features such as templates and scheduling. By leveraging these options and more, you can achieve far better results than manual methods would allow.

One of the key advantages of employing content marketing software is the remarkable boost in efficiency. This is achieved through an array of tools, such as blog editors, social media schedulers, and email marketing utilities. 

It also enables you to allocate tasks, establish deadlines, and collaborate seamlessly with team members. Utilizing these features effectively and maintaining clear insight into your colleagues’ work leads to swifter and more impressive outcomes.

Moreover, content marketing software plays a critical role in enhancing ROI. By scrutinizing data and making informed, data-driven decisions concerning content creation and distribution, businesses can optimize their results and ensure a more substantial return on their investments.

You can find a tool for everything you need regarding content. If you need an AI writing assistant to create engaging content – there’s Jasper or Writesonic. For content curation, you can use ContentStudio or StoryStream. And to handle tracking and analytics – Semrush that also helps you find the right topics and track content reach.

Search Engine Optimization (SEO) Tools

Search Engine Optimization is a critical component of digital marketing. To rank higher in search engines, you need to optimize your website and content with specific keywords and phrases that potential customers are searching for.

To make the most of SEO, you’ll need the right tools to help identify relevant keywords, create optimized content, and track search engine rankings. One popular SEO tool is Ahrefs, which offers keyword research, competitor analysis, and backlink tracking features. Another widely used tool is Semrush, which provides keyword tracking, site auditing, and content optimization tools. Yoast is another popular option for WordPress users, offering a plugin that analyzes and optimizes content for search engines.

For small e-commerce businesses, there are also specialized SEO tools available. For example, Etsy SEO tools like Etsyhunt and eRank help Etsy sellers optimize their listings and improve visibility on the platform.

Overall, investing in the right SEO tools can make a big difference in your search engine rankings and drive more traffic to your website or e-commerce store

Social Media Marketing Management Tools

Did you realize that a staggering 4.59 billion people across the globe actively use social media? This presents a colossal audience for small businesses to tap into, promoting their products or services to a vast clientele.

One strategy small businesses can adopt is generating QR codes to promote their social media channels, encouraging users to follow them. You can share coupons or ask for feedback this way, or even a location QR code that your followers can scan and get the directions to your store on Google Maps. These codes can also be printed on business cards, directing users to the company’s Instagram or Facebook page. However, this is merely the tip of the iceberg.

You could also use AI art generators where text prompts allow you to give instructions and create unique images to share across social media. For example, DALL-E 2 is known to be very fast and intuitive, and your imagination is the only limit to what you’ll create.

As a small business owner, juggling various responsibilities is inevitable, and managing social media can be time-consuming. Social media management software is purposefully designed to expedite this process. For instance, you can schedule posts in advance, freeing up precious time to focus on other vital aspects of your business operations.

If you are on a budget, use Buffer – a user-friendly tool that offers a good free plan with additional affordable plans available to upgrade. If you are present on many platforms, then Hootsuite is your best option. With this tool, you will maximize your marketing impact by targeting messages based on location or demographic profile.

Finally, you could try working with influencers to promote brand awareness and reach new audiences. Moonio offers you both free and paid plans to find, contact, and manage your relationships with influencers. If you want to find long-term brand ambassadors, the tool also offers the opportunity to scan your brand fans and customers to find influencers who are already talking about your brand or buying your products.

Marketing Project Management Software

Numerous small business owners grapple with resource constraints when orchestrating their marketing endeavors. But fear not, as a solution exists to help you remain at the forefront of your marketing game: marketing project management software.

This versatile tool empowers you to meticulously plan, organize, and monitor your marketing projects from inception to completion. It is designed to assist in managing various campaigns, including social media efforts, email marketing initiatives, and website overhauls.

By implementing marketing project management software, you can automate mundane tasks and eradicate extra process steps, ultimately saving time and money. For instance, it allows you to allocate tasks to team members, establish deadlines, and track progress within a single platform. Consequently, you can prevent miscommunications and ensure everyone remains aligned and informed.

Let’s be honest- tracking your marketing projects can be overwhelming. Nonetheless, with marketing project management software at your disposal, you can maintain organization and have all essential information in one centralized location. As a result, you can avoid missed deadlines, misplaced files, or forgotten critical tasks, enhancing the overall efficiency of your marketing strategy.

Text Message Marketing Software

Text message marketing software, also known as SMS marketing software, is a tool that allows businesses to send promotional messages or alerts directly to customers’ mobile phones via SMS (Short Message Service) or MMS (Multimedia Message Service).

This type of software typically includes features such as contact list management, message scheduling, automation, reporting, and analytics. It enables businesses to target specific groups of customers based on demographics, behavior, or interests, and send personalized messages with relevant offers, discounts, or reminders.

Some text message marketing software also includes features like two-way messaging, which enables customers to reply to messages, providing valuable feedback or engaging in conversations with businesses. 

Additionally, some software providers offer integrations with other marketing tools, such as email marketing or social media platforms, to create a cohesive and comprehensive marketing strategy.

Overall, text message marketing software is a powerful tool for businesses looking to reach their audience quickly and directly, increase engagement, and drive sales.

Mobile Marketing Software

As mobile device usage continues to soar, it has become imperative for small businesses to adapt by investing in mobile marketing strategies. This enables them to stay competitive and cater to the evolving needs of their clientele.

Mobile marketing software serves as a powerful tool for businesses to connect with their target audience through portable devices such as smartphones and tablets. By harnessing this software, companies can forge stronger customer relationships, elevate brand awareness, and bolster sales.

One standout feature of mobile marketing software is its capacity for real-time communication. For instance, suppose a business unveils a fresh promotion or launches a new product. In that case, the software can send push notifications directly to customer’s mobile devices. This dynamic engagement with the brand maintains customer interest and increases the likelihood of securing purchases.

Event Marketing Software

Now that we have covered digital marketing let’s talk about your offline marketing efforts. What if you want to plan an event, for example, for a new store opening or celebrating ten years of being in business?

You could use a tool that helps you manage and promote your offline events – event marketing software. It can help you plan everything from trade shows and conferences to product launches and community events.

You can automate many tedious tasks involved in event planning, such as ticket sales, email marketing, and social media promotion, and let the software do the heavy lifting. Not only that, but event marketing software can also help you reach a wider audience. You will get the word out about your event to more people than you ever could on your own. 

The biggest benefit of event marketing software is its ability to help you connect with customers in a more meaningful way. When you host an offline event, you can create a personal connection with potential customers. And with the help of event marketing software, you can ensure you’re putting your best foot forward.

Final Thoughts

By harnessing the power of business management software tools, small businesses have the potential to refine their marketing endeavors, conserve time and resources, and sidestep typical obstacles.

The key lies in selecting the appropriate tools, paving the way for executing an impactful marketing strategy. As a result, your business will flourish more rapidly and distinguish itself in an increasingly competitive market!

6 Handy eCommerce Tips To Help Boost Your Growing Business In 2023

Posted on by Juliette Anderson

eCommerce marketing is still a highly profitable niche in the digital world today. With the rise of online shopping, eCommerce businesses are seeing unprecedented growth and need effective marketing strategies to drive sales and increase customer loyalty.

eCommerce marketers must be well-versed in the latest trends and technologies to maximize their efforts and reach their target audiences. They must also understand how to optimize their campaigns for different platforms, such as search engine optimization (SEO) for Google or social media marketing for Facebook and Instagram.

By leveraging the right tools and techniques, eCommerce marketers can create effective campaigns that will help them attract more customers and boost sales. With a deep understanding of customer behavior, they can build strategies to help them succeed in this competitive industry.

Whether you’re an eCommerce marketer or in the eCommerce niche for your business and want to leverage marketing to help your business grow fast, this article can help you improve your eCommerce marketing strategies.

If you don’t know where to start or want a refresher on ideas for your eCommerce marketing strategy, here are a few tips that will be helpful to you.

1. Establish Your Target Audience

Identifying the target audience is an essential part of any successful marketing strategy. It involves understanding who your product or service is for and then crafting a message that resonates with your audience.

Knowing your target audience helps you create a marketing plan tailored to their needs and interests, which can lead to increased sales and customer loyalty. By understanding your target audience, you can ensure that your marketing efforts are focused on the right people and will be more effective in reaching them.

It helps you to create content that resonates with the right people and increases the chances of your message reaching them and getting an audience. You can identify your target audience based on age, gender, location, interests, and behaviors.

By understanding the target audience in marketing, you can create tailored campaigns that are more likely to succeed. Identifying your target audience can help you focus resources on people most likely to engage with your product or service. Additionally, it helps you better understand your customers and develop products or services that meet their needs.

Many beginners need to correct the mistake of targeting anybody and everybody for their marketing campaigns, but that is a waste of effort and resources. That’s why you should make sure that you clarify the target audience of your marketing efforts.

2. Optimize Your eCommerce SEO

When you start your own eCommerce website, you must incorporate SEO efforts into your marketing campaign as well as within the creation of the website itself.

SEO is an integral part of running a successful eCommerce business. Optimizing your eCommerce SEO can help you reach more potential customers, increase website traffic, and boost your sales. With proper SEO optimization, you can ensure that your website is visible on search engine results pages (SERPs), which will help you get more visibility and conversions.

eCommerce SEO optimization involves optimizing the content on your website so that it appears higher in the SERPs. It would be best if you also focused on other aspects such as link building, keyword research, and technical elements like page speed to ensure that your website will show up easier in search engines.

Optimizing your eCommerce SEO allows you to enjoy greater visibility and higher conversions from organic search traffic.

3. Create a Content Marketing Campaign

Content marketing is a powerful tool to help you reach your target audience, build trust with them, and increase your sales. It is a cost-effective way to promote your products or services, and you can create brand awareness, drive traffic, and generate leads.

Creating a content marketing campaign is essential to any eCommerce marketing strategy. It allows you to produce engaging content that will attract potential customers and keep them interested in your offer

One key way to create a successful content marketing campaign is to use After Effects templates to create visually-appealing videos, motion graphics, and other digital assets. You can find thousands of After Effects templates that are easily customizable and will help you create professional-looking content quickly and easily.

Content marketing also helps to build relationships with customers, develop customer loyalty, and increase conversions. With the right content strategy in place, you can reach more customers and increase revenue for your business.

4. Utilize Reviews On Product Pages

Reviews are an essential part of any eCommerce marketing strategy. They provide customers with valuable information about the product, which can help them make informed decisions when shopping online. Reviews also allow businesses to showcase their products in a positive light and build trust with their customers.

By utilizing reviews on product pages, businesses can boost sales, increase customer engagement, and gain insights into how customers perceive their products. Customer reviews can identify areas where improvements need to be made and highlight the features that customers value most.

It is an excellent way for businesses to show that they care about customer satisfaction and are willing to take feedback seriously.

5. Play With Different Pricing Strategies

Pricing strategies are essential for any eCommerce business. Trying different pricing strategies can give you an edge over your competitors and increase your sales. Different pricing strategies can attract customers, increase customer loyalty, and maximize profits.

You can determine what works best for your business and customers by experimenting with different pricing strategies. You can also use the data from these experiments to decide which pricing strategy to implement.

It is important to remember that there is no one-size-fits-all solution when it comes to pricing strategies. Every business has different needs and goals, so it is crucial to tailor your plan accordingly. With the right approach, you can get the most out of your eCommerce marketing strategies by playing with different pricing strategies.

6. Focus on the Distribution and Fulfillment Plan

Developing a comprehensive distribution and fulfillment plan is essential for any eCommerce business. It ensures that your products reach the right customers in the right place at the right time.

Distribution and fulfillment plans are essential not only for delivering products to customers but also for marketing strategies. Focusing on these plans ensures that your products reach the right audience and that your customers’ experience is smooth. It will help you build brand loyalty and increase sales.

An effective distribution and fulfillment plan (aka order management strategies) can help you maximize profits while satisfying your customers.

Conclusion

These eCommerce marketing strategies can help you grow fast this 2023 and for years to come because they comprise a solid foundation for any eCommerce marketing plan. If you haven’t yet, remember to apply these strategies to your project to improve your eCommerce business’s growth.