Digital marketing today is an important aspect of every organisation’s marketing plan. To be successful when there are many organisations promoting similar goods and services, standing out among the crowd is crucial to growth and success. With COVID-19, there is even more pressure to show why your organisation offers better value among your competitors in a clear, meaningful and attention-grabbing manner. The Victorian Government acknowledges that businesses need to continue supporting their digital marketing efforts and are offering grants to establish and maintain effective digital marketing strategies to help struggling organisations push through the global Coronavirus pandemic.
The digital advertising market in Australia is large and growing despite recent events. This is partly because more businesses are pivoting towards digital marketing. At approximately $9.3 billion, that represents a massive collective sum of expenditure being made by all organisations engaging in digital marketing efforts. Even with COVID-19, many organisations continue to see the benefit of their digital marketing strategy and most have not proportionally adjusted their budget based on declining revenue.
The strong engagement in digital marketing efforts is a positive step for the Australian economy. The digital advertising market engages graphic and digital designers, tech developers, marketing strategists, consultants and advisors, web engineers, app technicians, coding specialists, legal professionals and many other people from a wide range of disciplines. Most organisations partner with third party service providers given the specialised field requires qualified, results-driven and dedicated experts who can help transform an organisation using a superior and proven digital marketing strategy. Hence, organisations participating in digital marketing activities also support businesses that provide marketing services.
COVID-19 has reminded many business owners, operators and managers that marketing efforts must continue despite falling revenue. They understand that for their business to survive in the medium to long term, spending in important areas of their business must not stop. Especially at a time when consumer confidence is low, in-person engagement is not available and supply chain disruption has occurred, positive and direct marketing efforts need to remain active otherwise consumer disengagement or abandonment will rise. Local businesses must continue their fight as they redevelop their marketing strategy, product offering and business plan in light of the pressures COVID-19 has applied to their industry and the general economy.
With increasing financial pressure, staff who are worried about their future and industry participants concerned about the direction the Australian economy will take, organisations must make rational decisions that will support and offer stability in their businesses. Various grants are being made available by all levels of Government to boost Australian businesses in the right direction. Given the importance of digital marketing, funding is helping many businesses update their digital marketing strategy, uplift their digital presence and enhance their exposure in ways that will deliver a positive return on investment.
The Victorian Government has introduced various funding and grant measures to support Australian businesses during the pandemic. A multi-billion dollar package announced covers wide-ranging measures across various aspects of businesses. Many organisations have already been successful candidates of the generous grants. In particular, grants have focussed on helping businesses improve their digital marketing efforts. Here is a summary of the measures taken by the Victorian Government.
The Victorian Government is investing over $3 billion to help businesses impacted by ongoing restrictions and prepare for COVID Normal business. This package consists of a $20 million voucher program to assist sole traders and small businesses in building their digital capability through off-the-shelf digital programs such as Shopify or Square online and workshops designed to help adapt to online operations. If you would like to redeem a voucher, let us know and we can help support you through the integration of these digital services with your business.
The Victorian Government has invested $44 million to equip businesses with the support they need to thrive under a COVID Normal environment. This money can be spent on developing and enhancing digital marketing strategies to help elevate the business. The Government understands that business will need to rethink their operations and are funding these activities so that businesses do not fall behind.
Through this third round of the Business Support Fund, eligible businesses will receive grants of $10,000, $15,000 or $20,000, depending on the business’ annual payroll. This presents an exciting opportunity for businesses to pivot away from in-person and store front marketing and engage in useful digital marketing that will lead to a strong ROI. This grant is available for most businesses, sole-traders and not-for-profit organisations. Check the application requirements and apply soon.
This package consists of a $10 million business mentoring program, pairing small business owners with experienced professionals who can help them navigate their way through the crisis. This can be a great way to partner with a digital services provider who can review your digital marketing plan, make recommendations and then work with you to implement those solutions over time.
Digital service providers continue to play an important role in business. All organisations must have a digital presence to remain current, engage with their consumers and stakeholders and showcase their brand and products in a clear and accessible manner. At Sharp Instincts, we help businesses surpass their competition by embracing the digital space and helping them grow to new heights. Without a digital footprint, your organisation’s exposure will be weak and you will be losing many customers to your competitors. This is not an ideal outcome and can be resolved with a leading, proven and easy to implement digital marketing strategy.
Here are a few reasons why it is important to engage an expert digital services provider to help grow your business.
Instead of serving your local community, think global! You can access a wider market by targeting global markets. If your products can help people, then why not take them to the global stage. With highly populated countries located abroad, you can further enhance your brand presence using the internet as a platform. Your customers will be able to access your products from anywhere in the world and your reputation will reach new horizons across different groups of people. This will need to be supported by a reliable supply chain, timely logistics and cross-border import/export compliance.
With a digital marketing strategy, you can automate many activities and use the power of technology to deliver results. Instead of door-knocking, printing off flyers, managing databases and posting each letter off separately, digital marketing can send thousands of notifications in a few minutes, tailor the advertising based on consumer engagement and preferences and change the advertising content without extensive lag time. This can all be achieved with fewer staff from anywhere in the world.
Digital marketing is a technology driven operation. It is not a clunky process and many third party platforms have developed intelligent solutions with an amazing user experience. Whether you will coordinate your strategy in-house or engage third party professionals, digital marketing can be performed entirely digitally at any time of the day and from anywhere in the world. This means that to avoid time zone issues, you can engage in continuous marketing by having multiple teams serving you who are located around the world.
You can achieve greater exposure using digital means that will not require a large budget. A well-developed marketing strategy will pay dividends in the future in the form of greater customer engagement, higher conversion rate, more sales and many repeat buyers. Digital marketing is flexible and if the strategy is not working, it can be adapted easily without unnecessary delays and costs. This means that the strategy can be continuously refined over time.
Sharp Instincts is a digital marketing agency that provides customised end-to-end solutions for all organisations. We take time to understand your business, consider your current-state marketing plan and suggest recommendations to help enhance your digital exposure, brand presence and marketing spend ROI. For further information about how we can help you during these tough times, please contact us on 1800 189 787 or email us firstname.lastname@example.org
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