Why Companies Are Shifting from Global Business to Local Business in 2021
Small-to-medium business owners must continually evolve their strategies to keep up with long-term goals and priorities. One of the biggest decisions they will need to make is whether to expand globally or stay a local business. In 2021, many companies are choosing to focus on their local markets. Here’s why you might want to follow suit.
1. Better Engagement
By choosing to engage with a smaller, more targeted audience, business owners can forge meaningful relationships and even build communities surrounding their brands. It makes sense: niche markets allow for a deeper knowledge base, which give local companies the chance to really hone in on their consumers.
2. Hyper-focused Marketing
Local marketing can be tailored to a very specific audience, which is often more impactful than generic messages aimed at larger groups. Hyper-focused ads give you more “bang for your buck” by reaching the right people at the right time—generating more qualified leads.
3. Geotargeting Opportunities
According to a recent study, 50% of people who search for a local business visit that location within 24 hours. This presents many opportunities for companies that choose to stay local—one of them being geotargeting features. These types of tools and strategies ensure that customers in the area can find your business right away with a quick google search.
4. Community Impact
Small businesses can have a major impact on the local economy by creating jobs and helping to shape community identity. They can also directly influence tourism in the area, connecting with people who are passing through. As an added benefit, if your business helps to make positive contributions, members of the community will likely become advocates for your brand. Choosing between a local or global market is very much unique to your industry, audience and overarching goals. If it makes the most sense for your business to stay local, the key is to harness the right tools to take your marketing efforts to the next level.
Comporium Business Services
For small-to-medium businesses, it can really pay to stay local. To reap those benefits, you must first build a strong online presence, backed by solid marketing strategies. If focusing on a local audience is the right move for your business, Comporium can help you make the most of your marketing efforts. We offer a wide range of services, including SEO, targeted display ads and lead generation. We’re happy to work with you to find a plan that drives growth for your business in 2021 and beyond. To learn more, visit business.comporium.com/.