In today’s competitive landscape, businesses must have an effective digital marketing strategy to grow and thrive. This is as true for small local businesses and startups as it is for large national and global companies. Individuals are increasingly seeking out and consuming information online, and if your business is going to get noticed by your target audience, it’s critical to meet them where they’re searching for the products and services you provide.
With a strong economy and vibrant business community, Denver provides excellent opportunities for businesses in a wide range of industries that are looking to grow and become more successful over the next few years. However, your ability to leverage the latest digital marketing best practices, including local search strategies, will play an important role in whether you’re able to rise above your competitors in the Denver area.
At Webolutions, we’ve seen this firsthand. As Denver’s leading digital marketing agency, we work with many local businesses – in addition to our roster of national clients – that are looking to gain a competitive edge in the local market. Many of these businesses have turned to us for our nuanced understanding of the Denver business landscape that comes from being a local business ourselves. The following guide will help you understand the critical steps you need to take to boost your online visibility in the Denver area and reach your target audience more effectively.
Understanding the Denver Market Is Critical to Building an Effective Digital Marketing Strategy
In order to create a customized digital marketing strategy that appeals to your potential customers and clients in the Denver area, you must first understand the local market. The city has evolved considerably in the past 15-20 years, and many of the changes we’ve seen have had a significant impact on the Denver market.
Population Growth Has Fueled Many Changes in the Denver Market
Denver is a vibrant city that has experienced tremendous growth over the past 15-20 years. Between 2010 and 2020, Denver’s population increased by over 115,000 people as many individuals flocked here from around the country to take advantage of Colorado’s mountain lifestyle. Denver provided people with the perfect balance between city living and close proximity to their favorite mountain activities, and this became the impetus for much of the city’s population growth in recent years. This trend continued during the pandemic, as even more people moved to Colorado when remote work gave people greater ability to live where they want and still maintain their current employment.
The rapid population growth occurring over the past 15-20 years has impacted the Denver market in a variety of ways:
- Denver’s population has become increasingly diverse, creating a more dynamic market environment where businesses can reach a wider range of potential customers
- Gentrification of local neighborhoods has created a significant shift in the demographics and target audience for many local businesses who rely on local neighborhood traffic for their customer base
- Small, independent businesses have been impacted the most by gentrification, and many businesses serving lower-income residents have had to shift their target audience to reflect these changing demographics
- The housing shortage caused by this population growth has made Denver less affordable for many people, shifting socio-economic demographics from lower-income people to middle and upper middle-class people
- There has been increased demand for goods and services, which has benefited many local businesses
- There was a 40% increase in the number of businesses operating in Denver between 2010-2020, further increasing competition in a wide range of industries
Changing Demographics Have Impacted Consumer Spending Habits
Denver’s changing demographics have had an impact on consumer spending in a variety of ways. The shift to a predominantly higher income population has resulted in the average income for Denver households outpacing the national average by more than $11,000 in 2020-2021. This surge in income has increased consumer spending, with Denver households outspending the national average by roughly $11,000 in 2020-2021, and by roughly $14,000 in 2021-2022.
While the rapid population growth and gentrification of Denver have been driving forces behind many of the changing demographics we’ve seen in the city, there is another significant factor impacting these changing demographics. We’ve seen the Millennial generation come of age over the past 10-15 years, and they now comprise a large percentage of Denver’s population. The rise of Millennials in Denver has created several shifts in consumer spending habits:
- There has been increased spending on experiences, technology and social media-driven purchases
- Online shopping has increased
- Millennials spend 30% of their income on food and dining experiences, which aligns with the growth of Denver’s restaurant industry
- Millennials are more likely to support sustainable and socially conscious brands that align with their values
- Millennials have driven the increase we’ve seen in spending on professional services such as career development and business-related services
Growth of Tourism Industry Drives the Denver Business Market
Colorado has always relied on tourism as a major component of its economy, but this has increased in recent years. Denver, in particular, has benefitted from this growth in tourism. In 2023, Denver welcomed 37.4 million visitors and generated $10.3 billion in tourism revenue. This represented a 3% increase in visitors and a 10% increase in revenue from 2022.
This surge in tourism has positively impacted a variety of business sectors in the Denver market, including:
- The hotel/hospitality industry
- The food and beverage industry
- The retail industry
- The transportation industry
This growth is likely to create new opportunities for businesses in these sectors over the coming years.
Make Sure These Changing Market Factors Are Reflected in the Audience Segments You Target and the Buyer Personas You Create
Once you have a nuanced understanding of the modern landscape associated with the Denver market, you should update your buyer personas to ensure the city’s changing demographics are reflected in your assessment of your target audience. These detailed buyer personas will provide you with important insights regarding each audience segment’s behaviors, pain points, motivations, places they seek information, and ideal messaging that will resonate with them.
You can use these personas to customize your digital marketing strategy so that it more effectively caters to your audience. The insights revealed in your personas will help you create highly targeted digital marketing campaigns that directly address the specific needs of each audience segment. This will ensure your marketing strategy aligns with the needs of your audience as closely as possible, increasing the chances you’ll convert them into leads.
Conduct a Competitor Analysis
This tip is critical for businesses everywhere, not just in Denver. In addition, it holds true whether your Denver-area business is an established national brand or a local startup. In order to stand out in the competitive landscape associated with your industry, you must first understand what your competitors are saying and doing to appeal to the audience you’re targeting.
As part of this competitor analysis, identify your key competitors and assess their:
- Online presence (i.e., what online platforms and channels they use to reach their audience)
- Messaging, including their brand story
- Content strategy
- Paid advertising campaigns
- Target keywords
Analyzing this information will help you identify gaps and opportunities in your market that you can leverage to gain a competitive advantage. It will also help you understand your unique value proposition, making it easier to differentiate yourself from others in your local market. By monitoring industry trends, the strategies used by your top competitors and ongoing changes to the Denver market, you can craft a digital marketing strategy that helps set you apart and makes it easier to resonate with the people in the Denver area who would be interested in your offering.
Leverage Local SEO Best Practices to Improve Online Visibility in Denver
If your business relies heavily on the local population as your customer base, it’s critical to take the steps necessary to improve your online visibility in Denver. Implementing local SEO best practices as part of your digital marketing strategy will help you boost your local online presence.
An effective local SEO strategy should include:
- Optimizing your Google My Business profile
- Targeting keywords associated with Denver-specific searches
- Managing your online reviews
- Making sure your business information is consistent across all digital platforms
Leverage Social Media Marketing to Target Individuals in the Denver Area
Social media marketing is an effective tool to expand your reach in the Denver area. By tailoring your social media campaigns to engage Denver area residents, you can improve the effectiveness of your lead generation efforts. Some tactics you can use to engage with your local audience on social media include:
- Using local hashtags such as #DenverSmallBusiness, #SupportLocalDenver and similar terms to increase online visibility for individuals in your area
- Sharing content that incorporates many of the things that appeal to Denver residents, such as rooftop patios, local hikes and urban lifestyle moments
- Incorporating user-generated content to build credibility
- Running localized ads targeting specific Denver neighborhoods
Webolutions Can Help You Optimize Your Marketing to a Denver Audience
If you’ve been struggling to gain a competitive edge in the Denver market, Webolutions can help. We’ve been Denver’s leading digital marketing agency since 1994. Our team has witnessed firsthand the many ways the Denver market has changed over the last three decades, and we’ve kept our finger on the pulse of the latest trends impacting businesses in the area. Over the years, we’ve worked with many Denver area clients who are seeking the edge provided by a digital marketing agency with roots in their local community. We can help you navigate the factors specific to the Denver market so that you’ll stand apart from your competitors.
You’ll benefit from our transformational Intrinsic Multiplier™ Approach focused on growing your business smarter, faster and easier. This unique approach to digital marketing takes your leadership team on a collaborative journey to uncover the attributes about your business that make it special and unique. As part of this process, we’ll conduct detailed competitor research to see what the other leading local businesses in your industry are saying and doing to appeal to your audience. We’ll also work with you to build detailed buyer personas that help you understand the messaging that will most effectively resonate with your local audience.
Our team will use this information to develop a customized digital marketing strategy that aligns with the goals of your business. As part of this strategy, we’ll implement a variety of tactics to help you boost your online visibility in the Denver area, ensuring you’re able to connect with the local traffic you need to grow your business.
Contact us today to schedule a free consultation. Webolutions serves both local and nationwide clients from our offices in Denver, Colorado.
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