While traditional methods of marketing products and services may not be entirely obsolete, digitalization has shaken up things quite a bit here and there. Digital marketing may sound like a fat, umbrella term laden with several layers of complexity, but it is quite the opposite if you break it down.
Developing the right digital marketing strategy is the key. A holistic strategy includes several components, including SEO, social media marketing, influencer marketing, website design, etc.
But in between all these components lie a few secrets and realities that even expert marketers sometimes miss in a hurry while whipping up the “perfect” marketing mix. So what are these secrets? Chances are, you probably already know some of them. But let’s find out anyway.
Influencer marketing: engagement rates beat follower count
Influencers with a large global following from diverse sociocultural backgrounds reign supreme in a time dominated by social media and viral content.
These include movie stars and musicians, bloggers, YouTubers, and even kids who gain overnight popularity via viral video. Brands and online businesses are now leveraging the power of influencer marketing to reach out to audiences across borders to build brand awareness and get website traffic. They do this via paid collaborations and endorsements.
However, is the investment in influencer marketing really worth the return? Do you, as a marketer, really reach out to the “right” target audience for your product/service or website? More importantly, what are the engagement rates on their posts?
A large following is useless if it does not translate into high engagement rates. After all, this determines the value of the influencer’s content and whether it will get you the desired results. When collaborating with an influencer, it would be best to ensure that their following corresponds with your brand personas and customer profiles.
It will help you ensure relevance and a better ROI on your campaign. Also, consider post engagement rates over follower counts.
SEO: it’s a lengthy process
SEO is essential for increasing the quantity and quality of traffic on a website. Most marketers invest countless dollars on a robust SEO strategy and expect results in an unreasonably small amount of time. In reality, getting to the top ranks on SERPs takes time.
From using one of the best sitemap generator tools and designing an SEO-friendly website to producing keyword-enriched, high-quality content, quality optimization requires plenty of time and resources. And as many businesses are in the same rate race, competition makes it even harder. Patience is key.
High rankings, traffic, and conversions only follow after weeks and months of tedious grunt work of employing the best SEO practices to get the job done right. These practices everything from technical aspects, such as website speed optimization, to creative elements such as blogs and videos.
Consistency is the key
There is a vast world of competition out there. Each brand is working to reach its desired goals quicker than the other. Most of the brands offer the same products, too. Therefore, you need to create a brand image that is distinct from your competitors. And how do you do this other than by having a USP? By being consistent.
Branding is not easy, and it comes with various challenges, consistency being one of them. It would help if you remained consistent throughout while you promise to provide value to your customer. Suppose you fail to fulfill what you once claimed.
There are greater chances for you to lose your valuable customers to a brand that delivers consistent value. You need to prove to your customers that they made the right choice in opting for you among hordes of competition for a particular product/service.
You might want to create a brand guide and share it among your employees to be on the same page throughout. A brand guide contains all the information you need to maintain a consistent identity in the digital space, including the brand logo, color scheme, order methods, etc. Moreover, you need to consistently deliver high-quality information and products/services to your customers. It is crucial to remember that an inconsistent brand image can quickly make you a forgettable name when the competition is tough.
The Golden 80/20 rule
The Pareto Principle, also known as the infamous 80/20 rule, is one of the most widely known yet severely underutilized business/marketing concepts in the present day. According to this principle, 80 percent of the desired results come from 20 percent of the cause. In the business/marketing context, this means that 80 percent of a business’s revenue comes from 20 percent of its loyal customer base.
What does this mean for a marketer? Everything! While most marketing efforts, including SEO, aim to increase traffic volume to a website, the reality is that only a small number of those website visits and clicks will convert into revenue. Similarly, not all of your brand’s following on social media will engage with your posts – and even if they do, consider yourself extremely lucky!
Customer acquisition is an uphill battle in which the results are never guaranteed. On the other side, customer retention is far more affordable in terms of ROI.
We’re not saying that businesses should abandon ideas of expansion and gaining more customers entirely. But in the race for more numbers, it is vital to focus on keeping that 20 percent of your customer base happily engaged and satisfied to ensure a steady stream of business. Focus on building long-term relationships on principles of trust and loyalty to maximize the customers’ lifetime value.
Customers are always right
Whenever selling a product, think about what your customer would feel about it. Having a customer’s perspective is crucial as they are the heart and soul of your brand. They are the reason you exist. Be humble and empathetic. Encourage your customers to provide you with their feedback. After having taking feedback, ensure to incorporate it in your product/service offerings. The more you know about your customers’ needs, wants, and pain points, the better will you be able to service them with the appropriate solution.
Digital marketing isn’t too complicated if you understand its essence. Sure, it may require investing a considerable amount of time, money, and human resources to research, think creatively, develop ideas, and implement them. But knowing a few secrets to achieve success, like the ones we mentioned above, will help you get the most out of your investments. In short, be patient, consistent, and empathetic!