The world has changed. Now more than ever, customers are browsing the web for products and services, and businesses should adapt to these new ways of doing business.
The growth of e-commerce has made it increasingly important for businesses to adapt their marketing strategies to stay relevant and efficient.
Since around 95% of the population now lives within social media platforms, your marketing efforts should primarily be focused on digital platforms. However, it is still important to engage with customers on offline platforms like billboards and magazine spreads.
Your strategy should be holistic, engaging with your customers both on and off the web. This way, you can ensure that you are catering to their needs, whether they are reading your magazine articles or viewing your product online.
The Dangers Of Disconnected Marketing
When you are disconnected from one channel, it is difficult to stay relevant and efficient in your marketing. Customers expect companies to adapt and evolve with the times, and marketers should be leading the way by example. Disconnecting from marketing channels, especially social media can result in business stagnation.
The issue with disconnecting from marketing channels is that it can leave a vacuum. When you are relying on just a few platforms to reach your audience, it is easy for these platforms to dictate the nature and tone of your content. If you stop posting to social media, you will lose a lot of potential customers.
One of the major benefits of having a digital marketing agency is that they can help drive marketing strategy, online marketing, and social media strategy for your business.
Being connected to a wide range of channels and platforms is important because it allows you to build and maintain a healthy profile on the web that matches your business’ aims and objectives. A well-rounded digital marketing agency will not only help you to establish and grow your social media accounts, they will also help to build your website, write product descriptions for your e-commerce store, and develop marketing materials like brochures, business cards, and flyers.
In today’s digital landscape, customers have a vast array of options when it comes to discovering, researching, and buying products and services. This is especially problematic for businesses that only operate within one network (e.g. Facebook, Twitter, or Google +).
If you are posting only to social media, you are limiting your reach and potential customers. Especially for B2C businesses, this may not be the best strategy. Customer decision-making is often a complex process that involves researching multiple platforms and channels. Having a full-fledged digital marketing agency drive marketing strategy, content, and performance across platforms is a necessity in this day and age. Platform-specific expertise is important because it allows you to become a destination for the information your customers are seeking. For example, if your Twitter account is only engaging with your customers about your industry and content, you are likely to see poor engagement and little brand loyalty. This is not the best approach for creating long-term value and growth.
By comparison, having a social media manager that is focused on driving engagement and not just volume is a much more effective strategy. Having a single point of contact for your social media accounts that can help to build and grow your following, while also understanding the ins and outs of each platform is important. This way, you can ensure that your content is relevant and of value to your target audience. As you’ll see in a bit…
The Rise Of Online Shopping And Why It Matters
With the rise of the global online shopping industry, the importance of SEO, content marketing, and social media marketing has increased. Since customers are researching products and services online before purchasing offline, your marketing strategy should primarily be focused on digital platforms.
However, it is still important to engage with customers on offline platforms like magazine spreads and billboards as well. Simply put, customers that find and click on your product or service online will eventually head to your physical store to make a purchase. Therefore, you should not neglect the importance of physical stores and the role that they play in the purchase funnel. Studies show that around 40% of retail purchases made between 6 pm and 9 pm on weekdays, and during the weekends. This is prime shopping time, as people are looking for deals and bargains online, but in person, they want luxury items and unique finds.
Rise Of E-commerce
In parallel with the rise of online shopping, the e-commerce industry has grown exponentially. According to Statista, around 2021, the global e-commerce market was valued at around US$16 trillion, and it is expected to hit around $26 trillion by 2025. That’s a 700% rise in just four years.
E-commerce has made marketing more complex as businesses must now engage with customers on multiple platforms and channels. This is where fully-fledged digital marketing agencies come in handy. E-commerce requires specific expertise in SEO, content marketing, and social media marketing because the focus is on driving targeted traffic to the online store. The products and services that you sell online must also be properly described, and engaging with customers on social media is critical to gain valuable insights into what resonates with your audience, and more importantly, what doesn’t.
The Importance Of Offline Marketing
While digital marketing focuses on being online and engaging with customers via social media and other channels, offline marketing takes place when customers are actually encountering your brand or business. This could be in the form of a billboard, a magazine spread, or a radio ad.
Marketing campaigns that are only focused on digital platforms, especially social media, can result in business stagnation. Customers have an ever-expanding array of options when it comes to discovering products and services, and as a business, you should not ignore the importance of being discovered when they are researching products and services online. Being found when people are looking for your product or service is an important aspect of marketing and gaining credibility. For example, if you’re a fashion brand, it might be appropriate to do an advertisement in a magazine like Vogue or W or an ad on a popular fashion website like Buzzfeed.
When people are considering a purchase, they will often visit websites like Google, Amazon, and YouTube to learn more about your product. If these platforms are not filled with high-quality and informative content about your industry, your advertisement or website may not stand out.
Being found when people are looking for your product or service is important for gaining credibility and developing long-term customer value. This is also known as “brand awareness”. A widely known brand that was able to establish credibility with potential customers before they even made an inquiry is said to have “brand awareness”. This simply means that consumers know or recognize the brand name when they see it.
Establishing credibility with customers is critical to grow a business. However, determining how much awareness you have established is not as straightforward as it seems. It’s not enough to simply have a brand name, you will also have to prove to customers that you are a real and reputable business. Your brand awareness score is based on four metrics:
- Product knowledge: How much information can you provide about the products that you sell?
- Attribution: How much credit can you claim for the products you sell?
- Promotions: How much promotional activity can you engage in for your business?
- Establishment (identity): How much do people know about your business?
If you want to know more, here is an in-depth guide that will teach you how to calculate your brand awareness score.
How To Calculate Your Brand Awareness Score
To find out how much brand awareness you have established, you will need to calculate your brand awareness score. This is a simple four step process that requires you to look at the data, and then think about how you can improve. The steps are as follows:
1. Identify The Key Performance Indicators (KPIs) To Watch
The first step is to identify the key performance indicators (KPIs) to watch. These are the indicators that you will use to calculate your brand awareness score. The best way to find these KPIs is to look at your business’ existing metrics, and the ones that you will use to track your progress. The following are some examples of KPIs that you might consider: