In today’s disruptive world of online commerce, digital marketing has positioned itself to be the vanguard of modern business. Harnessing both technological advancements in studying human behavior and data analytics, it has enabled a host of small businesses to be competitive against the titans in their industry.
At this point in time, digital marketing has been able to help small startups to go toe-to-toe with established brands, helped create a more personalized strategy, and a much more efficient approach in setting up a campaign. It has also paved the way to effectively establish a brand reputation fast while catering to the needs of the consumers and the businesses that be.
If you want your business to maintain steady growth and make headway, staying up-to-date with digital marketing is a key component in achieving your goals. Here’s how to do it:
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1. Continuous Education
Investing in your knowledge is irreplaceably the most crucial step you’ll have to take when you want to keep yourself abreast with the latest in almost all aspects of a business. Finding the right resources to help you make informed decisions and formulate a winning strategy is key in your education. The writers from Marketing Envoy believe in connecting people and discussing their insights into the different facets of Digital Marketing. Creating a digital sphere where people can share their ideas, helps perpetuate the cycle of continuous improvement in whatever system the business runs on. Experts also use different media other than text, to share their knowledge and discuss innovations that could help improve online commerce.
As mentioned there are various topics or areas in Digital Marketing where you’d want to explore and expand your idea to use in your endeavor. Here are some of the things that you’d surely want to keep your eye on:
SEO is an evolving collection of techniques that runs on two distinct wheels objectives. On one hand, the search engine entity, primarily Google, aims to create a scoring system for each site that delivers the most relevant and valuable content based on the entered keywords. On the other side, websites compete for those scores in order to be on top of the list of the related search results page (SERP). New techniques evolve as search engines apply changes and improvements in their algorithm. So it’s always best to be updated when it comes to SEO.
B. Sales Funnel
Sales Funnel is a concept that may seem simple and constrained but it’s actually a dynamic system that allows you to improve the outcome of each phase and ensure a quality experience to realize a sale. Increasing your reach and filling up your funnel, will help you close deals and recognize revenue. Engaging your potential customers and seeking out leads will help keep them in your pipeline for future deals.
C. Landing Pages and Site Building
Your website is a crucial component as it is your virtual presence as well as your representation in the online business. Keeping your customers engaged and seeking to inform and subsequently convert should be the core design of your website. Properly utilizing appropriate landing pages from different links will not only help your brand image but can also aid in generating conversions. It’s important that you seek knowledge from creative designers and builders on how to design an innovative and cutting-edge website to drive traffic your way.
The impact of Customer Relationship Management (CRM) in digital marketing cannot be overlooked. It helps create a more personalized and targeted approach in your dealings with your customer which increases the potential of further growth and repeat businesses. By effectively using data of previous transactions with customers can help companies offer customers products relating to their previous purchase.
E. Shop Systems
How well you design the system of your eCommerce site dictates the ensuing performance of such a shop. The aim should be to improve customer experience that will make customers want to go back again. By establishing convenient and secured payment portals, you eliminate the risk of customers reneging on their intent to purchase.
2. Understanding Your Customers
One of the most important sources to help you maintain and improve your digital marketing strategy is by employing one of the oldest techniques in business - customer feedback. If you want to be updated on how the market is behaving and where it is leaning towards, you’ll get much more help by going to the source; your customers. Setting up a feedback system will help you understand your customers better and adjust your strategy around the information you’ve collected.
Applying what you know from customer feedback may require you to go deeper to fathom what they need and how can you satisfy it. Thus, it may seem counterintuitive at first but if you truly understand their motivations, you’ll know what you need to do.
One example is what the McDonald brothers did in the 1950s. They realized that underneath the trendy appeal of a drive-in restaurant, what the people needed was actually being able to eat quality food within a reasonable timeframe. They looked at their menu and determined what actually sells, and built a system that efficiently delivers those foods to their customers. They met some resistance at first, having had to do away with carhops, metal trays, and utensils but in the end, the real reason why customers go to a food place was really to just eat good food regardless of how it was delivered.
3. Maintain A Network
There’s no perfect system, even big corporations struggle with various aspects of their business. However, successful entrepreneurs were able to overcome challenges with the help of people who understand them.
Establishing a network of peers, mentors, and colleagues can help you come up with solutions to your obstacles. It’s important that you maintain this circle of like-minded individuals in the spirit of mutual cooperation in order to have a beneficial relationship all around. Because we are all connected through social media nowadays, it’s easy to stay in contact and share information about the industry and whatnot with your circle.
4. Monitor Competitors
Your friends can be your competitors, but many times the opposite is not true. So it's important that you keep an eye out on the people who have a share of the pie with you. It may sound egotistical if you're enjoying a better status than most of your competitors but it's also wise to keep a tab on their activities especially if you're thinking of doing that. They may also have a different approach or view on certain things so taking a look at their trendy blog post and how it’s performing traffic-wise is worth noting.
When the roles are reversed and you're looking at a giant company, you may want to capitalize on their sizable bandwidth to conduct market research and come up with innovative marketing strategies. This doesn't mean that you'll emulate every idea, but understanding the concept and finding ways to apply it to your own needs is necessary if you want to keep updated with their latest discoveries.
For example, one giant telco discovers that people would rather send text messages than calling. So they devised their strategy around getting the most revenue from that part of the service. Then comes one start-up telco, having realized the same trend, it decides to undercut the service in order to take their share of the market. And ultimately get some of the customers away from the big company. The latter's strategy worked and the big telco was forced to emulate the start-up's approach and now, people got affordable text messaging services.
5. Podcasts and YouTube Channels
Fortunately, the way the Information Age works is the more valuable the information you share the more you drive traffic your way. So if you’re looking to get cutting-edge updates from the world of Digital Marketing, experts won’t be so tightfisted with their knowledge because it raises their value and authority in that field. You can get fresh information from new trends in the field from video discussions and podcasts where experts explain in detail their insight on the particular subject.
The good thing about podcasts is that you can listen to them anywhere, whether you're sitting quietly, getting stuck in traffic, or just taking some time off on some park bench. Nowadays, the quality of the content of podcasts is improving with many source speakers invited to raise the interest of their show. You may have to spend some time looking for the right one which involves reading comments and reviews about the show. But when you finally find the right one it's going to be a treasure trove of innovative ideas that you can use in your business.
6. Be Open To Change
Growth involves change and if you’re not willing to change then you’d be left in the dust. One of the most important factors in keeping yourself abreast with what’s new and insightful in the Digital Marketing realm is to be always dynamic and being open to change. Not everything will strike gold, but you’ll learn something from it and you’ll be able to get a better purview as to what can greatly affect your business and how you can leverage it.
Looking into your business and what the industry trends are will help you evaluate what you need to do to grow. It’s important that you identify your needs and be always on the lookout of what’s new, however, you must deliberate as to how it affects your business as a whole before you take steps into incorporating those ideas into your strategy.
Thank you so much for reading How to Stay Updated on the Latest in the World of Digital Marketing. We really appreciate it! If you have any questions about our article, or can suggest any other topics you think we should explore, feel free to let us know.
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Robb Fahrion is a Co-Founder and Partner of Flying V Group. He is passionate about helping businesses grow using the power of the internet. Robb graduated from Chapman University in Orange, CA and currently resides in Costa Mesa, CA. Robb enjoys writing about digital marketing, helping his clients turn their dreams into reality, and he is a HUGE Mike Trout fan.