Discuss about the Final Business Research.
The topic of this research study is “the effect of digital marketing upon the growth of small business companies of Australia”. Digital marketing has emerged to be an important part of the current business scenario. With developing technology and growing globalisation, the concept of digital marketing has emerged to be an important aspect for small and medium size businesses in Australia (Falzon and Williamson, 2011). The research topic mainly aims to observe the role of digital marketing in the growth of SMEs in Australia and how these organisations can use the digital marketing strategy to gain a competitive advantage in the market. Along with that, it is important to understand the technology that is used in developing digital marketing by SMEs.
Small and medium size enterprises face different challenges in the Australian market due to the overwhelming competition and present of the giant business organisation (Gupta and Dhami, 2015). The research aims to answer different questions related to digital marketing in SMEs of Australia. Hence, it is important to develop different primary and secondary questions that will be answered during the research study. The questions that are needed to conduct the analysis are presented herein below:
In the modern business industry, the internet has become an additional attachment to the business environment. Social media platform has become one of the major digital marketing tools utilised by the MNCs and SMEs for significant business development (Ewing, 2012). Apart from the social media platform, other digital marketing tools such as blogs, podcast, newsletters and other online advertisements have played a major role in promoting the products and services of SMEs all around the market. In the past, business organisations primarily utilised print media marketing and television marketing concepts to promote business at the domestic level (Gray, 2011). The internet services and facilities have comprehensively changed the overall structure of SMEs business marketing so that organisations can access a maximum number of target demographics utilising online marketing tools. Meanwhile, in this way, social media marketing such as Facebook, Twitter, and Google Plus have become the primary digital marketing tools to get a maximum number of subscribers and followers (Alford, 2013). The digital marketing and online newsletters have actively directed the consumers to buy products online in a numerous procedure. Hence, the online facilities and system can be used to achieve unlimited target demographics effective for product selling. Based on the same topic the research has been proposed to identify how the internet and digital marketing tools have made its mark on developing Australia’s SMEs (Karjaluoto and Ulkuniemi, 2015).
The research questions have been developed by studying prior researches of different authors. Previous literature has been chosen as the main source of data for conducting the study. Several theories presented by different authors will be used and applied in real life scenarios to judge the importance of digital marketing in the present business scenario for Small and Medium Sized Enterprises (M. Kang, K.P. Johnson and Wu, 2014). The literature relevant to answer the research questions will be chosen in a purposive manner to conduct the analysis. Along with that, data will be collected from primary sources in the form of a direct survey. Different managers and owners of small and medium business organisations will be asked to present their views on digital marketing and tools used for promoting businesses in Australia.
The research mainly aims at conducting a literature review that will present a study on the prior theories developed by earlier researchers. Along with that, the research will use primary data collection method by conducting a survey of more than 50 managers and owners of Small and Medium Sized Enterprises in Australia. The survey will be conducted to collect their views on the digital marketing and see how these entrepreneurs apply digital marketing for the survival and growth of their business (Leng, 2013). The collected data will be analysed with the help of qualitative analysis method in which the findings of the study will be presented in a thematic manner. Along with that, a quantitative research analysis will be used to evaluate the reliability of the data.
The research project will start will choosing of the topic which important aspects of a research study. The secondary data sources will be chosen according to the sampling technique and data will be collected to conduct a literature review. The literature review will be drawn and on the basis of the literature review, the research question and hypotheses statement will be prepared for conducting the analysis. After that, the data collection method will be selected, which is followed by the collection of data to conduct further analysis. The collected data will be analysed and interpreted according to the selected method of analysis. The analysed data will be presented in the form of results and findings. A proper discussion will be drawn on the results and findings of the research with the recommendation for further improvements. Finally, the conclusion will be drawn relating the findings of the study with the present situation in the Australian market.
The research report has been developed into five chapters. The first chapter introduces the reader to the topic and research questions. The first chapter also present a brief idea of digital marketing and the methodology that will be used to conduct the report. The second chapter is the literature review in which the previous ideas and literature of different authors will be critically evaluated to draw the research questions and methodology for the further study. The third chapter presents the data collection and analysis method that has been used to conduct the research. Next is the discussion chapter in which the findings of the research will be discussed to draw proper recommendation for the improvement of digital marketing in the Small and Medium Sized Enterprises. Finally, the paper ends with the fifth chapter that presents future work possibilities and conclusion on effects of Digital Marketing on the growth of SMEs in Australia.
In order to determine the competitive nature of Australian SMEs, digital marketing tools can be recognised as one of the basic components for successful business operations. The review of the literature has been presented based on four logical research questions to be answered to understand the position of digital marketing tools in the growth scenario of Australian SMEs (Grant, 2015). The introductory businesses in the Australian markets would be highly benefited from the ultimate outcome of the research results. By realising the effectiveness of digital marketing tools, more value will be put on the internet based marketing to secure maximum target demographics for any small and medium enterprise businesses (Fernandes and Vidyasagar, 2015). The first research question will evaluate the basic advantages of digital marketing for successful market operations. On the other hand, the second question will identify the supportive factors of digital marketing in the growth of Australian SMEs. In addition to that, the third question will produce evidence of positive impact of digital marketing in operational management of SMEs (Keeler, 2014). Last but not the least; the final question will evaluate the contribution of digital marketing tools to maximising the client base of the SMEs opening new business dimensions.
Customer driver database is an essential element for direct marketing for any small and medium sized enterprises in Australia. It is form of database that provides the organisations with a huge amount of information on customers. On basis of the information companies can plan their promotion strategies and target their customers accordingly. Social media marketing is primarily used to create contents that attract more customers (Chaffey et al., 2012). It also helps the organisation to collect feedbacks of the customers over their products and services. For example, Eagle Boys Company in Australia has started to use social media site in their marketing in order to gather overseas customers. Pop ups are another form of online advertisement that is used to attract customers over different websites (Kelly-Holmes, 2015). It is also used to collect information of the customers in form of their name, number and email address. Hence, it can be seen that there are a huge number of organizations that uses customer driver database to develop their promotion techniques over the internet (Couldry, 2012).
The advantages of digital marketing are discussed herein below:
The disadvantages of digital marketing are discussed herein below:
The external success factors are discussed herein below:
The user Benefits of Digital Marketing are Discussed Herein Below:
Conclusion
It can be seen that digital marketing is used by most of the organisations in Australia. The benefits of digital marketing overlap the challenges which are positive aspects for small and medium sized enterprises in Australia. It can be seen that digital marketing creates prompt customer awareness and provides the organisation with enhance market reach and increase the customer traffic. Hence, it can be seen that digital marketing is an important factor for the success of small and medium sized enterprises in Australia.
As digital marketing tools are completely operated on the internet platform, use of internet and speed of internet have been major components in a target market. In the case of Australian territory, the common public is very much tech savvy. Therefore, small and medium enterprise businesses can get maximum business clients on the internet using digital marketing tools (Chauhan and Gupta, 2010). Furthermore, the 4G internet speed has provided significant support to the SMEs for digital marketing concepts. In this way, digital marketing can play the role of ‘Word of Mouth’ for significant awareness of brands and products. SMEs have actively promoted new advertisement campaigns through YouTube and other social media to improve the awareness of products and services promoting the growth of the business (Chen, 2013).
In the conventional marketing concepts, SMEs need to invest lots of money and time to see the effectiveness of public relations developed through marketing strategies. In the past, SMEs have to arrange significant funds for advertisements and promotional activities. But, at present, online marketing has significantly reduced the expenditure of media advertisements (Chahal and Kaur, 2013). SMEs can utilise Google AdWords and other digital marketing tools to direct the purchasers to the website. In addition to that, direct marketing has featured many issues and obligations relevant to print media. But, in the digital marketing companies do not need to worry about such challenges. Identically, the smartphones, tablets and other hi-tech devices have given the opportunities to the SMEs to reach a maximum number of business clients using the virtual internet platform (Cui and Choudhury, 2012).
Conclusion
The analysis can significantly identify the benefits of digital marketing tools for the effective growth model of Australian SMEs. Purposely, digital marketing has helped the SMEs to reduce the cost of promotion and advertisements (Butler, 2015). As the marketing cost is reduced to a significant extent, SMEs can put the money for research and development segments for better services and product. Meanwhile, limiting the expenditure, digital marketing tools can enhance the growth opportunity at the highest level. So, H0 is true on this note.
It has been found through study that marketing was restricted to hardcopies and papers in the earlier stage. Later on, the television and radio advertisement was introduced that brought a revolution in the marketing industry. After that came the concept of digital marketing. It can be seen that with the development of technology four topologies of digital marketing came into action. These topologies are known as suite, bus, platform and multi-platform. Previously, a single vendor was used for all marketing activities (Hwang and Park, 2013). But with the development of product and diversification of product portfolio, the concept of multi-platform and bus model came into action. Bus model presented the use of multiple channels of communication with the customers that brought a revolution in digital marketing. It can be seen that Microsoft made a 18.6 percent increment in public commitment with the new model of marketing.
Figure 1: Bus Model for digital marketing
(Source: Fasbinder, 2012)
The above communication has led to the formation of Enterprise Service Bus Model (ESB) such as Mulesoft, which is utilized by Zappos. Customer Data Platform (CDP) is utilized by the organizations and masked IP is used so that client base is not altered. This has also resulted in security restoration for all companies as bus topology helps in single channel communication that coordinates all other Independent software vendors (ISV).
Through the “Enterprise Service Bus Model”, the customer services are able to communicate with each other and access client information in real time basis. The ESB usually translates a message in correct type and sends that to appropriate producer service.
Figure 2: Enterprise Service Bus Model
(Source: Durkin 2013)
Hence, it can be seen that the new technology development in the digital marketing brought a change in the small and medium scale business. It helped to improve their quality of services (Grönroos, 2006). The technology became available in the market with lower cost that transformed the marketing industry from contemporary marketing to digital marketing.
The Bus Topology Model is used to coordinate with the stakeholders. It can be seen that using a single bus channel, communication can be made effective and fluid. The database of every user is connected via IPs and APIs that interlinks every members of the organisation belonging to different departments.
Figure 2: BUS Channel
(Source: Fitzgerald et al. 2013)
Hence, it can be seen from the above model that marketing activities can be more effective using digital means and developed technology. As the signals are not transferred back through the bus channel of communication, small scale organizations can effectively use them in promotion and marketing activities.
Digital marketing helps in concentrating on a target market. It helps the organisations to select and segment the market according to the need of their products and services. Hence, the innovative technology development can be helpful in focusing on the target market and concentrating on particular area for development. Digital marketing helps the marketing executives to directly reply to the customers with the help of mails and social media that increases the sales of the company (Layton, 2011). Furthermore, the digital marketing tools like search engines optimisation and social media helps the organisation to directly reach their targeted customers in an appropriate and effective manner.
Conclusion
It can be seen from the analysis that digital marketing is an effective promotion tool with the bus model as it helps to identify the customer base and provide the organisation to build good public relation. Furthermore, it can be seen that the architecture and bus channel helps to correlate all users, departments, producers and clients under a single network. Thus, it can be seen that small and medium scale organisations can widely use distributed communication with the help of digital marketing tools.
In Australian business territory, there are various industries and numerous SMEs operating for the existence. Hence, there is significant market competitions among the enterprises belong to the same industry (Ahuja, 2012). As a result, in order to get a sustainable competitive edge in the marketplace, SMEs have put the emphasis on modern digital marketing tools to get access to the massive online clients available in the social networking sites. Therefore, the current trend is supporting the digital marketing for the betterment of products and services sales. In the business environment, SMEs operating the Australian territory have actively utilised online marketing tools and technology to secure maximum market share (Dorland, 2014). Meanwhile, the digital technology and marketing concepts are so much cost efficient in compared to conventional marketing strategies.
The competitive marketing industry in Australia has heavily relied on e-marketing at the current state of scenario. The SMEs of the Australian market have understood the massive client base and effective outcome of e-marketing concepts (Dou and Chou, 2012). Therefore, most of the conventional business and start-up enterprises have opted for online marketing against traditional marketing concepts. As the alternative and futuristic digital marketing concepts are more innovative and effective for business development, enterprises have made a small budget for online product or service promotions to get the best possible results (Ahuja, 2015). Clearly, the digital media marketing has an own impact on the development of SMEs business in the domestic marketplace. Companies are significantly utilised cost effective media marketing tactics to secure maximum sales figure and profitability (Kelly and Levitt, 2006).
Conclusion
As the discussion has come to the end, it can be seen that null hypothesis is quite supportive in the research analysis. There is the significant role of media marketing for effective market growth and business expansion of Australian SMEs. In addition to that, the cost-effective and time-saving procedures have got simple tactics to be implemented for maximising the results. Therefore, it can be convincingly concluded that digital media marketing technology has positively contributed to the growth of Australian SMEs providing more number of business clients (Margolis, 2015). Effective internet marketing has provided a systematic edge to the business sector of different SMEs operating in different industries in Australia creating competitive advantage.
Conclusion
It can be seen through the literature review that digital marketing is advantageous for the Small and Medium Sized enterprises in Australia. With development of technology, digital marketing can be widely used over contemporary marketing activities to grow the business in the intense competitive market. Digital marketing tools such as social media and search engine optimisation helps to reduce the cost of promotion and increase the market reach of the organisations. Along with that, innovative technology also helps to increase the number of clients for the Small and Medium Sized enterprises in Australia.
Data collection is one of the important activities of a research study. There are two different data collection process that are known as primary data collection method and the secondary data collection method. In primary data collection method, the data is collected from the primary sources in the forms of direct interview and survey. On the other hand, the secondary data is collected from secondary sources such as journal articles, newspaper articles, books, government reports and internet sources (Moran and Muzellec, 2014). The research mainly aims at conducting a literature review that will present a study on the prior theories developed by earlier researchers. The data is collected from previous papers written by other writers. Data is also collected from internet sources to enhance the database for the research. Along with that, the research will use primary data collection method by conducting a survey of about 60 managers and owners of Small and Medium Sized Enterprises in Australia. The survey will be conducted to collect their views on the digital marketing and see how these entrepreneurs apply digital marketing for the survival and growth of their businesses. The questionnaires used to conduct the survey have been presented in Appendix 1. Furthermore, the collected data will be analysed and interpreted to draw the results and findings of the research.
As there are two types of data to be considered such as primary data and secondary data, the primary data sampling would be based on a survey of knowledgeable public attached to the SMEs and digital marketing industry. Basically, the survey programme will be conducted on 60 respondents who can be selected as main components of the research. The selection of respondents has to be made efficiently as the outcome of the research survey is going to be so much vital for research data. Meanwhile, 60 managers of Australian renowned SMEs can be identified for the research survey. First of all, the invitation must be sent to the respondents via e-mail to confirm their availability and suitability of time for the participation. The primary research data will be so much essential for significant research study (Enrick, 2008). Therefore, SMEs must be selected on a higher priority.
At the given timeframe, the research questionnaires must be produced in front of the managers and make sure they will answer as much as possible. For the best sort of participation, the respondents must be briefed about research aim and importance of the study (Varey, 2006). The experimental format of the questionnaires must impress the respondents to get the most suitable answers to collect primary data. Apart from that, previous literature and research studies must be taken into consideration to accumulate secondary data and information sufficient for research perspective (Meadows-Klue, 2008). In this way, compact data samples can be prepared according to the hypothesis questions. In addition to that, government policies and e-marketing concepts and the reach of the digital market at the current scenario in the Australian market can be analysed to get maximum secondary research data supportive for further evaluation. Proper data management and analysis of data will rely on the data sampling formulated through survey answers and analysis of secondary data resources as described above.
Data analysis is the most difficult and complicated part of the research study. There are different types of data analysis methods that can be used to analyse the collected data. The different types of data analysis are quantitative analysis, qualitative analysis and descriptive analysis. In qualitative analysis, the collected data is analysed without any mathematical and statistical calculations. It is analysed according to the research questions and hypotheses to get the final outcome of the research. The quantitative analysis method is used to present statistical analysis using mean, median and mode. The paper will use the qualitative data analysis method to analyse the prior literature presented by different authors. The qualitative analysis is basically used to conduct a literature review (Stroud, 2008). Furthermore, the research study will use the quantitative analysis to check the viability and reliability of the data. It will be used to conduct a statistical test of the data collected for the research. In this research, the data collected will be converted in variables to conduct further analysis. The results will be presented in a descriptive manner along with a discussion drawn in a thematic way. Hence, it can be seen that both qualitative and quantitative analysis will be used in the study to draw proper results and findings of the research.
Conclusion
At the end of the methodology section, it is required to draw a significant conclusion on the data collection and analysis of the data resources. Meanwhile, the data collection methods can be fully supported to get the most appropriate data and information relevant to the research project. By identifying the four basic hypothesis questions, the data collection method can deliver significant concept that can be verified through theoretical base. In terms of the review of literature, previously, most of the SMEs were against implementing digital marketing tools for business expansion. In the past, conventional print and television media were preferred by most of the business enterprise. But, the current data resources can identify the change in the scenario. Also, the data sampling technique will provide the primary data based on the survey on done on the public attached to the SMEs and digital marketing tools (Stephens, 2014). The appropriate data sample can provide enough comprehensive data and information supportive of the entire hypothesis. Meanwhile, the observation of data about digital marketing tools and effectiveness of the same can produce the level of accuracy to support the hypothesis. For research point of view, the record observations and survey on knowledgeable public can identify the best result supportive for further discussion.
There are primarily four questions to be discussed and evaluated through research proposal. In the current state of scenario, each of the null hypotheses has been presented positive results. Therefore, it can be seen that digital marketing tools have positively contributed to the growth and market operations of Australian SMEs (Slimani, 2013). Each of the research questions can simply be answered in favour of the efficiency of digital marketing tools. Furthermore, digital marketing tools have reduced the advertisement and promotional costs of the SMEs providing a maximum number of a client base through online (Millman and El-Gohary, 2011). On the other hand, innovative technology of the digital marketing tools has critically contributed in a positive way to manage successful market operations for any SME. Basically, digital and internet based marketing has become the need of the hour.
Social networking sites such as Facebook, Twitter and Google Plus can be utilised for successful promotion of any business products and services to a vast client base. The virtual market platform has been actively utilised for successful product advertising. Also, the comments and ideas of the target demographics can be effectively followed to manufacture better products to meet the expectations of the buyers (Mort and Drennan, 2012). So, in the end, digital marketing tools have the power to create a broad channel of communication between buyers, sellers, distributors and manufacturers to support the growth of SMEs in the market of Australia. Understandably, the marketing technology is a lot more innovative and profitable in compared to conventional print media marketing concepts (Singhal, 2015). Hence, the single digital marketing platform can deliver multi-platform to the SMEs to make momentous market growth.
It can be seen through the literature review that digital marketing has been identified as a substitute over contemporary marketing. But, the concept of digital marketing has become famous and people have started using it at a high rate because of its advantages. It can be seen through a survey that around 29% of small and medium sized companies have definite digital marketing strategy to promote their businesses. On the other hand, most of the people use technology in their regular life to communicate with organisational members as well as with the customers. Hence, it can be seen that digital marketing has emerged to be an effective medium of communicating with the customers (Watfa, Najafi and Bakkar, 2013). Furthermore, it can be seen that the development of innovative technology has made the communication between the organisation and customers easier and effective. It has further increased the quality of services rendered by the small and medium scale organisations. The use of Bus Channel model has been an example of innovative technology of digital marketing tool that has made the process easier and beneficial for the SMEs. Finally, the study and research results show that above 60% of people believe that digital marketing is beneficial for them. It has been found that digital marketing is cost effective. It increases the customer reach of the SMEs in Australia resulting in increased number of clients and loyalty of the customers (Sukhu, Zhang and Bilgihan, 2015). Along with that, it has been found that most of the managers and owners of SMEs perform the digital marketing activities by itself without any knowledge of marketing. Hence, it can be seen that digital marketing is an easier concept that can be applied by SMEs in Australia to seek growth in the market of immense competition. For further consideration, a brief findings of the survey is presented through graphs in appendix 2.
To promote digital marketing tools in the organisational framework, two recommendations can be followed as per the research outcomes.
Conclusion and Future Work
Conclusion
The business research paper has been developed to identify how digital media marketing tools have turned the performance and productivity of SMEs in the recent years in the Australian market. The research outcome has ensured that most of the respondents have provided supportive statements for digital marketing concept. In the age of modern technology, business SMEs operating in the Australian market must ensure that they have applied best available online marketing resources for future benefits. Meanwhile, modern management of SMEs has identified digital marketing tools such as social networking sites, YouTube, blogs, online newsletters and much more for better marketing approaches. In this way, enterprises can promote their products and services to lead the purchasers to buy the products or services. Apart from that, the research can evaluate the impression of the online presence of organisations on the target customers. For quicker accessibility, modern buyers are quite reliable to e-marketing and online purchasing.
At the end of all the discussion and research analysis, the research can identify the benefits and role of digital media marketing in the growth of SMEs in Australia. Most of the organisations have believed that the internet marketing has opened a massive communication channel to them. By utilising the channel, every enterprise and small and medium enterprise business can reach to the clients to promote latest product or service development. The research result can explain that business enterprises should improvise online digital media marketing for the sustainable growth model. Also, business SMEs can develop strategic plans through online marketing to achieve a competitive advantage as well.
In modern business environment, digital media marketing and SEO agencies have become an integral part of business enterprises. In the upcoming future, more research should be concentrated on consultancy services offered by modern SEO agencies. The digital marketing management must be studied in a critical way to make a better understanding of the insight of the media to make efficient business promotion and advertisement. Management people should identify the modern digital marketing tools for specific marketing agenda. Meanwhile, by considering the motive behind digital marketing concepts, small and medium business enterprises can promote potential marketing communication channels to create a positive impression on buyer’s community. Therefore, more research study must be done the process and operation of digital marketing. At the same time, some of the challenges and issues associated with the online marketing concepts must be evaluated so that any legal or financial risks can be mitigated through policy and practices. Hence, it would be the responsibility of the research team to analyse how digital marketing tools can be further utilised for innovative growth model of SMEs operating in Australia. Apparently, as digital marketing is an internet oriented and technology based process, government’s role must be investigated to promote the same. Therefore, it would be ideal to make research on government’s policy and practices to implement digital marketing tools to support the SMEs.
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Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download