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marketing plans for 2024

 


Small businesses are revamping marketing plans for 2024 with digital dominating, but traditional marketing continues to thrive.

Since the advent of the Internet, small business marketing teams have had to constantly update their efforts. Just 20 years ago, social media was in its infancy, traditional print advertisements were still marketing priorities, and no one knew what an "influencer" was.

The marketing landscape has been significantly disrupted since then by digital. Social media advertising and content creation dominate the marketing strategies of businesses of all sizes, and many traditional advertising methods have diminished. As business leaders and marketers think about their game plan for 2024, many of those trends are poised to grow as digital remains more dominant than ever. However, specific channels of traditional marketing continue to perform above expectations.

While the economic outlook remains uncertain next year, investments into marketing channels, new and old, are expected to grow in the small business sector. A recent survey of small business owners conducted by marketing company Taradel revealed that 94 percent of respondents plan to boost their marketing budgets in the next calendar year. 

The following is a collection of key takeaways from this survey that reveal which marketing channels look most potent for small businesses in 2024-- and which you should consider incorporating into your own strategy.

1. Choose High-Return Social Media Platforms

Small businesses use social media because it's cost-effective, easy, and relatively immediate. A post can go worldwide in seconds. Many businesses use social media for real-time engagement with a broad base of potential customers. Choosing the right platform is essential to a successful social media marketing strategy.

Your audience often determines this since you should meet them where they are. In Taradel's survey, small business owners showed a clear preference for Facebook. Over 86 percent of respondents said they used the social media giant for marketing. Other popular social media sites include Instagram (48 percent), LinkedIn (30 percent), YouTube (18.14 percent), and TikTok (10.7 percent).

2. Invest in Quality Data for Direct Mail

Direct mail is still a productive marketing tool for small businesses. There's something to be said for personal and physical communication, and direct mail is especially effective in promoting small businesses in local neighborhoods. There's also less competition in customers' home mailboxes than in digital mailboxes, so there's often a higher chance companies get more visibility through these campaigns.

According to the Taradel study, most small businesses currently use a combination of digital strategy and direct mail for marketing. More than 60 percent responded that they would continue to use direct mail.

While direct mail can be a valuable marketing tactic, it won't be successful without quality data to use for your mailing lists. If you are investing in quality direct mailpieces, your efforts could go to waste if your mailing list is poor. Taking the time to ensure your existing data is in order (or purchasing quality lists) will ensure you are reaching the right audience and help avoid the sunk costs of returned mail. 

3. Utilize Email Marketing Platforms

Email remains one of the top three modern marketing channels for small businesses. Over 66 percent of the respondents in the Taradel survey said they plan to continue using email for marketing in 2024.

Like social media, email is very cost-effective. Personalizing marketing emails and automating certain aspects of a campaign is easy. Analytics are also more streamlined with email messaging, allowing managers to measure open, click-through, conversion rates, and other key metrics. However, email marketing isn't as simple as hitting "send" from your inbox. Invest in a quality email marketing platform to help ensure your team has access to the information it needs to gauge the success of your efforts. 

4. Align Your SEO Strategy With Industry Best Practices

Search engine optimization (SEO) continues to be a key focus area for small business marketing teams. That's partially because SEO requires a time commitment. Many teams are merely extending SEO marketing plans that have been in place for years.

The advent of AI is changing SEO strategies. Some industry experts believe generative AI will become even more intertwined with Google's search engine. A few even think a day will come in 2024 when AI creates and entirely plans an SEO strategy. Investing in education for your team surrounding SEO best practices or partnering with a professional SEO agency is key to remaining competitive in this space. 

5. Fund Paid Search Initiatives

Google Ads has become the biggest pay-per-click (PPC) advertising platform on the web. Its dominance has made Google Ads synonymous with the phrase "paid search," as most online visitors use the terms interchangeably.

As with SEO, PPC advertising will likely feel the influence of AI in 2024. Experts believe AI will help teams refine their marketing strategies, resulting in better-targeted ads and higher conversion rates. Small business marketing teams will also need to expand their interest in voice and visual search, as those methods will continue to grow in popularity.

6. Prioritize the Creation of Quality Content

As businesses become more knowledgeable about content creation, they continue using original content as a marketing strategy. Blogs, videos, ebooks, podcasts, and user-generated content are ideal marketing channels because they build brand awareness and can enhance SEO results.

The importance of prioritizing quality content for your marketing efforts cannot be overstated. When customers and potential customers find content entertaining and informative, it lends an air of authority. It's true that many small businesses simply lack the personnel or time needed to produce quality content. Allocating funds to ensure the quality and variety of your content are up to par will produce a substantial return on investment. 

How Will Small Business Marketing Evolve in 2024?

Small businesses already have a wealth of marketing channels to choose from. Many focus on just a couple of them, while others create comprehensive campaigns spanning multiple levels and screens, leveraging various channels. Whatever choices small businesses make, the importance of marketing in 2024 cannot be overstated.

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