How to Reinvent Your Business in The Digital Age
There is an old saying that quotes, "If your business is not growing, it's dying."
In today's business world, with all these high-speed technology advances, competitors catching up quickly, more educated clients & customers, that quote no longer applies. It’s just not enough to be growing in sales, or even profit. Truth be told.
We find ourselves frequently telling clients that if they aren’t continuously reinventing themselves, there's a significant risk of failing... sadly, more sooner than later.
As business consultants, we often walk into businesses struggling with their online growth, and they ask us some FAQs. Here are three of the most frequently asked questions we receive:
What is digital marketing?
Will it work for my business?
Will it give me new customers?
Important things to know about digital marketing in 2020
Digital marketing is a weapon.
Yes, and a powerful one, it's all about marketing products & services through the Internet. We made it sound pretty easy, didn't we?.
Digital marketing includes online channels, social media, SEM (search engine marketing – includes SEO & pay per click advertising), email, video, websites & banner advertising; all of these used to interact with our current & potential clients.
Businesses need to upskill & make of the Internet their best friend, since it plays a crucial role in how today’s consumers make purchasing decisions.
Did you know that 81% of shoppers conduct online research before buying? (Capital Retail Bank)
Does Digital Marketing work?
Yes, it works. When you are doing it in the proper way it will deliver data-driven results.
Now, you might be thinking, what's the "proper way" to do it. There are several ways to do digital marketing, it depends on what are your goals.
For example, if you’re looking to sell a product you may be needing a paid campaign, & for this you need:
This is key, to test before you sell. Try selling your theory before you invest time & money. Create expectation.
Build a plan, don't sell blind, put together a business plan (even a small one). Define your target market analysis (What's your niche? Who am I selling this to?)
Create a strategy. Determine who you are, what you do, & how to deliver your message to your target audience (What's your added value? What are your audience interests? Where do they spend most of the time?)
Test & measure your results. You can do A/B testing with FB ads and change different things, your CTA, copy & thumbnail image. See what works on your target audience.
Create an email list for several audiences. This helps you follow up and sell more related products (try using mailchimp.com)
Ask for feedback. Testimonials help you improve your next product & you can use it as “proof”.
Getting New Customers
Now that you’ve decided to face the new challenges & skyrocket your business with digital marketing, here are some helpful tips:
You will not only save money & time. You won’t require a handful of staff, so it’s cost-effective.
You can measure results & change strategies.
All you’ll ever need to advertise your business now is a working computer, the Internet, & a guide to help you get started!