Is it just me or does it seem like the perfect time for a web development company? I mean, let’s be real, the world is at peace, the economy is doing great, and we’re living in a time when anyone can comfortably make a living online.
If so, then perhaps it’s time to consider making the switch. What will you need to start your company? Whether you’re launching a SaaS app, selling your own products, or operating a digital marketing agency, these 11 tips will help get you started down the right path to online success.
Find Your Niche
Inevitably, you’ll find yourself trying to fit a square peg in a round hole. If you’re wondering why your product isn’t selling, it’s because there’s no clear market for it. You need to find your niche and hone in on the specific people who’ll be willing to pay for your product or service.
Niche is a word used widely in the affiliate marketing sphere that means ‘a small market or segment’. The problem is most companies rush into the world of affiliate marketing without a proper strategy. They try to become digital marketing experts overnight and without proper training, get themselves tangled up in the mess that is affiliate marketing.
If you want to avoid this and ensure you get the most from your efforts, then start by identifying your niche (a small market or segment) and expanding on that. Consider speaking to journalists who might be interested in your product or service. Or, you could create buyer personas and conduct in-house interviews to gain a better understanding of what your customers want.
Nowadays, we’re all aware of the vast amount of information that’s readily available online. However, not all this information is equal. Sometimes you need to do your homework and wade through a lot of junk to find the gems. Luckily, there are ways To make this process easier. You can use digital marketing tools to analyze keywords and online content to find the market size and demographics that are valuable to your business.
To ensure you get the most from your keyword research, you need to consider the metrics that matter most to your business. Things like Cost Per Click (CPC), Cost Per Acquisition (CPA), and Conversions are all important. However, if your business is B2C, then it’s even more relevant to look into Cost Per Person (CPP), Average Order Value (AOV), and Lifetime Value (LTV). These are crucial metrics to consider and will allow you to make informed decisions about your marketing strategy.
Pick Your Platform
The field of digital marketing is evolving with every new innovation and development in technology. This is especially important for those interested in online marketing. As the world shifted from desktop PCs to mobile devices, the tools and techniques used in online marketing changed with it. Today, there are dozens of different platforms that can be used to market a business or a product online.
Depending on your expertise and the size of your budget, you’ll need to ensure you choose the right one. If you have a limited budget, then you’ll need to consider free platforms like Google Assets or Facebook. But, if you have the budget for a premium platform, like WordPress, then consider investing in that.
Build A Team
Even in today’s world of online marketing, there are still many roles that require a physical presence. A lot of marketing is still handled in a traditional way. You’ll need to put in the time to meet with customers and prospects face to face. You’ll also need to take care of traditional marketing tasks like placing ads or buying ads to get people’s attention.
To take care of these tasks, you’ll need a team. If digital marketing isn’t a part of your skill set, then consider using an agency to take on these tasks for you. You can either hire freelancers to help you or you can take on a team yourself.
Learn About The Trends
With every new development in technology comes new opportunities and changes in how we do things. One way to keep up with the times is to learn about the trends that matter to your business. Keep an eye on the digital marketing world and see what’s trending. Some popular topics that might be of interest to you are:
- AI and Machine Learning
- Augmented Reality
- Blockchain and Cryptocurrencies
- Data Driven Marketing
- Deep Learning
- Emerging Technologies
- Digital Marketing Innovation
- Digital Marketing Platforms
- Inbound Marketing
- Personal Branding and Presentation
- Product Management
- Sales Management
Get Familiar With SEO
An important distinction needs to be made between Search Engine Optimisation (SEO) and Digital Marketing. SEO is the process of getting your website to show up on search engines when someone searches for keywords or phrases that your business is ranked for. For example, if you are a plumber and your business is located in London, then someone searching for a plumber in London will probably land on your website.
However, the keyword ‘plumber’ might also appear on a website for a computer hardware company and someone searching for that might stumble on their website first.
This is where doing some research comes in handy. You can use tools like Google Keyword Planner to find the keywords and phrases that matter most to your business.
Understand The Psychology Of Search
Nowadays, a majority of people find themselves navigating the internet using mobile devices or laptops. In other words, they’re on the move. When people are on the move, they’re more likely to be searching for the first few results that appear on their screen. This is why it’s so important to consider SEO from a mobile point of view.
People searching for your product or service on the move might not have had the time to read through a full web page or they might not have felt comfortable enough to navigate a website on their phone. In this scenario, it’s essential to grab the attention of the reader by presenting the most important information in a clear and concise manner. Consider using a tool like Google Fluke to map out the keywords and phrases that your customers are using to find your product.
Determine Key Goals
As a business owner, you’ll want to consider what you’re trying to attain from your digital marketing strategy. You might have a specific product or service in mind that you’re trying to promote, or you might be looking to expand your audience. Regardless, you’ll want to set-up specific goals for yourself and consider what’s the next step in the process.
Take some time to think about what you’re trying to achieve and how you intend to achieve it. Consider mapping out a clear plan with concrete steps along the way. This will help you keep track of your progress and ensure you continue to focus on the right metrics.
Thought leaders in the industry consider these top-of-mind metrics as essential in any business:
- Lifetime Value (LTV)
- Average Order Value (AOV)
- Customer Satisfaction (CSAT)
- Product Acquisition Cost (Pricing)
- Churn Rate (Customer Retention)
- Inventory Turn (Product Availability)
- Revenue Generation
- Key Performance Indicators (KPI)
- Brand Awareness (Reputation)
- Customer Retention (Referral Marketing)
- Product Promotion (Advertisement)
- Product Acquisition Cost (Cost Per Acquisition)
- Monthly Recurring Revenue (MoRR)
- Older Demographics
- B2C (Business to Consumer)
- Digital Marketing Optimization
Build A List
A business owner’s time is most valuable. You’ll want to ensure you use this time the most effectively. One of the best ways to do this is to build a list of potential customers. You can do this by getting in touch with journalists who might be interested in your product or service and obtaining their email addresses. Or, you can use an email marketing tool like MailChimp to generate a list of potential customers.