Let’s face it – no matter which way you vote or what economic position you are in the latest budget and associated cuts will have an impact on you and your business. For business owners, there are some benefits: company tax rate cuts and large incentives for introducing and up-skilling older members of the workforce. Sounds great, right?
However, the other side of the coin could suggest your target market could be affected by the budget in a negative way. So now it is more important than ever to be smart about your businesses marketing efforts and budgets.
Henry Ford once made a very profound statement about advertising and marketing and the time and era of this statement highlights his ability to see further forward than most. ‘A man who stops advertising to save money is like a man who stops a clock to save time.’
The quote rings even truer today with consumers facing more economic pressure, social pressure and access to your competition. It is important to invest in relevant digital marketing medians and utilise the true power of the platforms that consumers are using more and more everyday and in the most effective way. Australian consumers are going to be looking for reputable and reliable businesses, deals and affordable products in a much different way.
Consumers with time on their hands are more likely to take time to do their homework online before making an investment on a purchase that pre-budget announcement may have not required as much consideration. Some key points to focus on as a business owner and for Studio Culture as marketers will be continuing to ensure that word-of-mouth about superior service and quality products is leveraged on social media; secondly page one Google visibility for relevant keywords will continue to be a major focus as will responsive web design.
Why, you ask? Well, with 52% of all searches for local business being performed on mobile devices, it is more important than ever to provide a seamless screen-to-screen journey for consumers. This ensures businesses have every chance to gain a new customer. By screen-to-screen, I refer to the common journey a consumer goes on before pulling the trigger on a purchase or inquiring about a service.
For example, someone shopping for a particular product may browse that product on mobile, research the product on desktop through social channels or searches and then revert back to mobile to make the purchase after checking their financial position on their smartphone.
This is a common screen-to-screen journey many can relate to. Now you can bet your bottom dollar that the sale of an item or the inquiry for a service will occur on a website that is responsive and easy to use. By responsive, I mean mobile and tablet friendly/ fit to screen. No one wants to fiddle around and resize a screen to see vital contact information or pricing.
It is important to also remember the power of social in the majority of these journeys. If someone has made a comment about a positive experience or product, whether it be a dining experience or a shopping experience online, social proof really is key to influencing a purchase and time will prove that more than ever people will continue turn to Social media platforms with large audiences to share these experiences good or bad.
In summary, stand out to consumers online or get shut out by your competitors. Even though some may say that consumer sentiment may be down after budget news, this is not the case for many businesses who are getting it right – there is a market out there, and more and more people are making purchases online. It really is more important than ever to improve or create your digital presence to the best possible standard (plus, digital marketing can be tax deductable).
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Joe Fox is Studio Culture’s Business and Development Director.