All businesses have their challenges, and the biggest one we believe is generating revenue. It’s no wonder over 40% of newly registered businesses go out of business within the first year! Fortunately, we can discover what your most profitable way forward is and what the sequence of marketing activities required to grow revenue and profit are. The question is: where are you at with your business? Are more leads or sales required, or do you have an issue with retaining your customers?
Often an owner is not willing to make an up front financial investment into their business marketing strategy. This can result in wasted time and money in the long term trying to build their own online presence and online customer acquisition strategy. This waste can come either via sales for ecommerce or lead generation for professional services. Another business challenge is when businesses select the wrong digital marketing agency and strategy. For example, if your sales and lead strategy are dependant on traffic coming from Google and an inexperienced agency crashes your rankings or fails to improve them, you may lose significant business.
For those who are just getting started with marketing, the process should be viewed as an investment. It would be incorrect to assume that from the get-go your marketing spend is being covered by the revenue it is generating. Experience tells us that for any given industry, certain marketing activities are going to deliver better results than others, at a lower cost and in a faster way. Creating an ad, selecting a keyword, picking a colour or selecting a design is and always will be a hypothesis. While validating actions before execution helps, no qualitative or quantitative data will be available on the internet to do this, and that is why working with experienced marketers is key to your success.
The ideal scenario is that your business has a pipeline full of leads ready to close. However, the question is: how do you create that pipeline full of leads? There are two types of prospective clients: those that are in the market and those who don’t know they need your product or service yet. The marketing activity is being in front of people who are in the market, as well as identifying ideal customers and nurturing them.
Customer retention is not the worst problem to have, but it is a problem nonetheless. It is clearly important that you not only bring in sales, but you also maintain them and build lasting relationships. It is critical that you build meaningful engagement and rapport with your customers. Let us explain how automated techniques can assist this aim and help to ensure that you retain your customers.
Are the leads coming to you? Is the traffic on your website converting into sales? Any marketer can generate traffic and leads, but are they valuable to your business or are they just a waste of time? Proper qualification and identification of your ideal customer is essential to maximising conversion rates and reducing customer acquisition costs.