SMEs are placing vital importance on digital marketing to promote sales and brand awareness during the pandemic; with female lead SMEs faring better, through higher digital awareness, than their male counterparts.
Female lead businesses have fared far better during the pandemic than their male counterparts – the biggest reason for this was the optimisation of digital platforms to promote themselves and sell their products and/or services a survey has revealed.
So why is it vital for SMEs to be digitally aware during COVID recovery? Well, the importance of digital awareness for SMEs is huge. Not only does it create constant brand awareness but it’s the flexibility it offers. It can be used subtly – in below the line activity – or blatantly – above the line activity. What’s more, digital marketing is cost effective – it’s proving to be vital that it is incorporated into the daily operations of an SME to ensure future prosperity.
FACT: In 2019 36% of SMEs did not have a website.
The same survey also cited that the UK SME business community is optimistic about its recovery after the COVID pandemic – more so than many of its European counterparts. This is great news, yet places even more importance on the value of digital marketing.
Placing a brand or a concept in front of targeted customers in digital form will inevitably become the most important new lead generator at a time where face to face interactions are still restricted.
FACT: Online sales during the pandemic have gone up by 76% in June alone.
Customers automatically start a sales enquiry online – predominately starting with Google. Without any web presence an SME cannot compete. At the very least, there needs to be social media platforms in place to add authenticity to an SME. An SME can make vital and essential updates regularly on products, services and brand information, whilst profile pages can advertise contact details if no website is live.
FACT: In 2019 web users had 7 social media accounts, active every day.
There are many online website builders available – these sites are generally easy to access, to build and to add selling portals. Some of the most popular include Wix, WordPress, 123Reg and SquareSpace.
FACT: In 2021 online sales will make up over 17% of retail sales.
Digital channels for an SME must also be mobile compatible – which, last year accounted for over 50% of online traffic. A business, of any scale, not exclusively SMEs, cannot assume that they are offering a great product or service so eventually the customers will just come. An SME cannot afford to be complacent on the power of digital media marketing. Businesses must work hard, and constantly, to attract, promote and advertise to their customers – even if potential customers are simply browsing online and are not in the market for a specific product or service at that precise moment they must be made sufficiently aware so that when they are in the market they know where to go.
FACT: Someone browsing online always has the potential to be a business’s next new customer.
A business must also look at their cashflow in order to manage online orders, maintain sufficient stock and be assured they have production capability. To do this it is vital that the right finance is behind them. That’s why huge numbers of SMEs have contact me, Carole Roe, Founder and Managing Director of Capital Corporate Finance (CCF) – independent broker – to find them the right finance during the pandemic. With access to all UK lenders, from traditional lenders to alternative financiers, CCF guarantees to find each and every SME tailored and specific SME finance through honest, transparent expert knowledge.
FACT: CCF is able to arrange finance faster, and usually at a lower cost than going direct.
CCF is not tied to any lender – there are no contracts or targets – we are free to approach the lenders who we know will approve each finance application. Our targeted approach means SMEs are not met with refusals that could adversely affect credit files.
CCF is also one of the few approved brokers to arrange the Government back finance scheme, CBILS, with major UK lenders; with CBILS loans of up to £250k being arranged promptly – in around 36hrs - at superb rates, with nothing to pay for 12 months.
FACT: CCF boast an approval rate of 90% for CBILS loans compared to the national average of just 50%.
CCF applies no charges or fees to arrange SME finance. Remunerated directly by the lender, there are no hidden costs attached to the lending – simply put, the only incentive is to provide SMEs with the best possible finance options.
Call me today, directly, on 07785 596053, or email me at carole@capitalcorporate.co.uk
This week, 8th March, the world celebrates International Women’s Day
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