DIGITAL GROWTH November 2020 | ISSUE 2
The Business Growth Issue Inside the issue: • Growing your e-commerce store in the new normal • Digital Marketing Tips for Start-ups • Can email marketing grow your business? • What is a Business Growth Agency? • You can Grow with Social Media • How to Expand your Business with Digital Marketing • The Discount Debate
Quick Reads: Webinars vs Podcasts • How to Grow a Business Fast • Best Ways to Grow a Business • 6 Pillars of Digital Marketing
Digital Growth - Nov 2020
Letter from the editor
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Businesses need to start thinking about growth rather than survival.
Working with a business growth agency
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Understanding what a business growth agency is and how it could help your business
Grow on social media
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Social media tools and strategies to grow, from visibility and reach to leads and sales
How to grow your business with digital marketing
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Exploring the myriad of opportunities digital marketing presents
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Growing your e-commerce store in the new normal
With so many competitors out there, how do you direct your audience to your store and keep them coming back for more?
Fastest ways to grow business Infographic
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Best ways to grow business Infographic
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The 6 pillars of digital marketing
We take a look at the 6 pillars of digital marketing to help grow your business.
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Digital marketing tips for start-ups
Digital marketing tactics to help your start-up business thrive in 2021.
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Podcast vs Webinars Which will work best for your business?
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Can email marketing grow your business?
Through automation and personalisation, your email campaigns can help your business flourish.
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The discount debate
Should you offer discounts in the new year or could this have adverse effects on your business in the future?
Digital Growth - Nov 2020
Letter from the editor W
e hope you enjoyed the first issue of the Digital Growth magazine. We’ve been humbled by the feedback, subscriptions and volume of downloads to date. Thank you.
This month’s episode is focused on growth. As the highly turbulent year comes to an end, businesses need to start thinking about growth rather than survival. The majority of leaders have accepted that business operations may never be the same again, not least until there’s a vaccine capable of reaching every corner of the world quickly and cost effectively. Despite positive news of a vaccine, the reality is the COVID-19- is here to stay - as is the ‘new normal’. So how do companies strategise for growth? What steps need to be taken? What opportunities exist in the new realm of Digital Sales? If you have these types of questions for your business, this month’s Digital Growth magazine should help. Thanks, Amit Vyas CEO, NEXA www.digitalnexa.com
Be a part of Digital Growth Do you have an article that you’d like to share or want to collaborate with our writers? Send an email to Amit@digitalnexa.com with your ideas.
About the editor
Amit has worked with hundreds of businesses in the Middle East from startups to large multinational clients during his time at Nexa and previously, in the UK. He can be found at international conferences and has spoken at marketing events in the USA (SXSW and Content Marketing Conference), Australia (ANZMAC), India (Content Marketing Summit at the world Marketing Congress) as well as countless others in Europe and the UAE.
About Nexa As one of the largest fully-independent Digital Marketing Agencies in the UAE, Nexa has provided a vast array of services to over 1,000 clients in the region since 2005. Nexa is HubSpot›s only Diamond Partner Agency for the GCC region. www.DigitalNexa.com
Amit Vyas is the Co-Founder and CEO of Nexa, a digital marketing agency that was launched in Dubai in 2005. With close to a decade of experience within Digital Marketing, Amit has seen first hand, the dynamic environment with which businesses now have to operate in order to achieve growth and to succeed.
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Digital Growth - Nov 2020
Working with a business growth agency By: Shannon Correira
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usiness growth agencies are designed to help your business in a holistic sense. They are external consultants who assess and assist your business in all aspects. With their help, the company can optimally achieve its objectives and drive the growth on a steady, inclining trajectory. On an intangible level, there is a mindset which is put into place to lift the business. The agency is, therefore, able to assist you with making business decisions and giving you an edge over your competitors. Consulting with a business growth agency is a great way to streamline the necessary improvements needed by your business from various aspects, without compromising on the level of expertise garnered. Ultimately, a company performing at its best in all regards is what will attract people to your business and help it grow.
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Digital Growth - Nov 2020
What a business growth agency can do
Selecting a business growth agency A business growth agency offers many different services to a business, but they specialize in specific industries. This allows them to hone in on their capabilities and to develop a niche clientele. With this, they can lead with a particular vision that is aligned with your business. Beyond being industry specialists, business growth agencies are very much focused on building authentic connections with the businesses they work with. Rather than taking on all companies as clients, there is a focus on having a meeting and then deciding if it is a correct fit. The company culture is where the value and opportunity for success lie - being able to work well together with the right synergy is the best foundation.There are a growing number of business growth agencies, and when it comes to selecting one, it is also helpful to take a look at their references and case studies. Since their services are based on metrics and improving businesses, these agencies opt for transparency when it comes to their achievements. Read up on how they’ve helped other companies to get a sense of what they can do for you.
Growing your business When working with a business growth agency, you’ve gained a partner. This partner is dedicated to nurturing your business from a strategic point of view and with a qualified perspective.
Digital marketing An essential part of business, from social media marketing to email marketing, website development to content optimization. Opportunities within the digital sphere and relevant campaigns are designed to improve your business operations. The agency will ultimately increase the awareness of your business through these efforts, in a way which is best suited to your needs. An example of this would be to set up your website and drive traffic to it with a strong social media campaign.
Sales Sales is crucial to the success of your business, which needs to be assessed within the context of the modern-day sales funnel. It incorporates lead generation, supported by technologically sound sales processes. An agency can assist in a winning combination of sales and marketing technologies to acquire more customers and revenue for the business through identified opportunities.
The first step is having your business analyzed to identify opportunities to improve your operations. A strategy is then developed, rolled out and evaluated. The business growth agency creates valuable solutions that are derived from data. When assessing your business, the numbers, quite literally, count. Conversions, leads, revenue are all aspects which are reviewed, with the ultimate goal of improving those figures for financial success for the foreseeable future. Agencies from the past would solely focus on financial success, utilizing methods to bring monetary gains in the fastest way possible drastically. This is referred to as growth hacking, which is criticized for not having long-standing results - it is merely a quick fix which brings brief success and does not add value. Hence business growth agencies add to financial success; creative successes are also a goal. The agency is made up of professionals that are experts in various business function roles. With these abilities at their disposal, they can inspire and train your employees by implementing specific processes and procedures. Increased and improved collaborations within the business are encouraged, as this can boost productivity and functioning for the best possible outcomes.
Customer relationship management Developing good relationships with your customers is crucial to the continued success of your business. CRM is based on aligning marketing with sales efforts through software that track your performance and effectiveness. With this aspect, the agency will aim to nurture the relations you create, which is imperative for sustainable success, especially in modern-day times as this is a way in which value is perceived.
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Grow on social media By: Shannon Correira
Reach
Trust
Social media is a useful tool to increase the exposure of your brand and target audience in a calculated manner. You can manually find people, or expand your base through advertising. Social media’s advantage lies in the ability to share and be ‘sociable’ online, so create content that people want to share with others.
Social media is a crucial step in customer research on products and services. Your account showcases how trustworthy your brand is, based on the kind of content you share and the voice you use when communicating with your audience. Build trust by developing solid relationships through these social platforms and utilize scheduling for consistent posting.
Awareness Once people come into contact with your business, the information and image your share needs to be clear and resonate with them. Once awareness of your business is made, the next step is to impress, so you need to ensure your profile is capable of holding attention.
Leads Leads are a vital component of business growth. Social media presents several ways for you to generate, nurture and convert leads.It is also important to note that these leads rank as higher quality when compared to other forms of online marketing.
Traffic Since your social media is an extension of your business, include easy to access links for reachability, under the directive of specific calls to action. You can also generate more traffic by encouraging people to share your content and becoming involved in trending topics.
Service Customer service via social media is powerful, so utilise the opportunity to demonstrate that your company cares and is responsive to users. Manage your online communities to ensure that your brand maintains a positive image.
Perception
Cost-effectiveness
Build a unique aesthetic to foster brand recognition. This is built over time and requires the social media manager to have an excellent understanding of the business to represent it accurately.
Advertising on social media is affordable and be sure to invest in creating high quality content. You can also collaborate with influencers as a cost-effective way of soft selling and passing that mindset onto customers by sharing exclusive offers with them.
Authority
Analysis
By building your presence online, you’re creating more links to your website and publishing more content associated with your brand. This will improve your search engine ratings. You should also consistently publish content that showcases your business as a thought leader in your industry.
Take advantage of the rigorous analytics available as this allows you to extract meaningful insights to help you improve your strategy.
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Digital Growth - Nov 2020
How to grow your business with digital marketing By: Shannon Correira
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igital marketing presents a myriad of opportunities for business growth. By understanding the benefits of this avenue and knowing how to implement them, your business can grow in various ways that are beneficial to your bottom line. Here’s how it can be optimal for your business‌
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Digital Growth - Nov 2020
Benefits of digital marketing
Marketing ideas for growth
Reputation management
Content
With many purchasing decisions beginning online, managing the perception of your brand online is vital. There are various determining factors, from your presence online and how active you are with posts (which showcase your credibility), to user reviews (from user-generated content and testimonials). This is all part of building and nurturing relationships, which ideally turn customers into loyal communities.
Customer service Digital marketing is an extension of the brand. Through online channels, you can connect with your audience and offer them the opportunity to engage with your brand, which is an opportunity to provide and improve your service levels. Ensure you have a dedicated person or team to be responsive to any queries or comments you receive.
Affordability There are various affordable options available to your business in the online sphere in comparison to traditional marketing. These can be utilized to manage your budget better and ensure that you can measure your ROI on ad spend.
Boost By utilizing digital marketing, you can boost your business’s channels as a means of online expansion. Even if you don’t trade online, you can reach new target audiences and improve the customer experience. If you do operate online, digital marketing will be paramount to your business’s success. Conversion: Digital marketing allows your business to target audiences very specifically, leading to an increase in conversion rates. You can also gain significant understanding of your customer base online, which will further improve leads and conversions.
This simply refers to the kind of content your business creates and shares with your audience. It is through this offering that you can decisively communicate relevant and valuable information that attracts your audience. High-quality content leads to engagement, with the goal being for the customer take action.
Search engine marketing These are paid ads which appear at the top of search engine result pages. They have prominent placement which improves your visibility. It helps create relevant associations for your brand and the desired content that is being searched for. The cost of these ads is often based on a pay per click (PPC) basis.
Account-based marketing To improve your business and cater to your audience, you need to target your audience very specifically. This is achieved through ABM by better equipping marketing and sales teams, resulting in the generation of higher returns.
Email Having and building an email list is an essential and highly beneficial means of digital marketing. It allows you to reach your audience directly and is a great way to attract existing and potential customers to your website. Through this form of communication, you can share promotional offers, inform people of new products and events, to name a few. The key to an effective email strategy is in sending quality content and designs to ensure that it catches the eye and does not get lost in the inbox.
Search engine optimization Not only does your business need quality content online, but it needs to be optimized for search engines to recommend it. There are ever-changing tactics to improve your SEO ranking, based on providing the searcher with a solution.
Lead magnets This refers to something of value which you offer to a customer, in exchange for them to sign up. It is a great way to improve your perceived value, demonstrate your business’s capabilities and grow your email database. These incentives can be in the form of downloadable or watchable content, like an eBook or an animated video.
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Digital Growth - Nov 2020
Growing your e-commerce site in the new normal By: Toni Becker
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he e-commerce market is continually growing, with more and more people choosing to shop online. According to statistics, 67% of millennials and 56% of Gen Xers prefer online shopping over brick and mortar stores. And since the COVID-19 pandemic hit the globe, the number of people choosing to shop online is expanding dramatically.
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Digital Growth - Nov 2020
E-commerce has become a valuable market for any business to tap into, however, as the market begins to grow, there will be more and more competitors who are out to land the same consumers as you. This is why marketing has become the backbone of e-commerce success. The goal of every online store is to increase quality traffic and make conversions. This is why it is important to combine effective marketing tactics with functional e-commerce tools. Your marketing strategy should be all-encompassing, from implementing ideas for lead acquisition to generating repeat sales from the customer base you already have. To keep your business alive, and to keep it thriving, you need to implement effective marketing tactics to drive your target market to your e-commerce website, and prompt them to make a purchase, and come back for more.
What is e-commerce marketing? E-commerce marketing is the act of using promotional tools or tactics to drive quality traffic to your online store, convert this traffic into paying customers, and retain the customers once they have made their first purchase. A successful e-commerce marketing strategy combined marketing tactics that take place both off and on your website. A strong marketing strategy will build brand awareness, nurture customer loyalty, and increase online sales. Below, we take a look at some of the most effective marketing tactics to drive sales on your e-commerce website.
1- Content marketing Content marketing refers to the creation and sharing of online material such as blogs, vlogs, e-guides, articles and social media posts. This kind of content does not explicitly promote your business offerings, but stimulates interest in the products and services that you offer. Effective content marketing has the power to attract attention, encourage engagement, and convert leads into sales. Content marketing does this better than most marketing methods can. By developing unique, helpful and strategic promotional content for your e-commerce site, you are ensuring that your audience is continually receiving new information that means something to them. It is important to understand what kind of content your target market is looking for, whether it be informative blogs, industry related news-letters, webinars or video tutorials. Make sure to invest in high quality content as you want to provide your audience with information that is helpful, engaging, and something that adds value to their lives. This is the best way to turn your product or service, no matter how common, into something that is different from your competitors.
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Content marketing is an important part of any marketing strategy as it answers your audience’s questions, allowing you the opportunity to build trust with them, improve conversions, and generate leads. It is also important to share your content via your social platforms, to ensure even more interaction and engagement.
2- Social media marketing Social media marketing is an exceptionally powerful tool as it allows you to communicate with your customers, potential customers and your industry as a whole. This kind of marketing is also personal, and gives you the opportunity to generate more engagement and interaction, direct traffic to your e-commerce site, and gain a greater reach. There are different social media platforms that serve different purposes and can help grow your e-commerce business in different ways. Below are just two examples of social media platforms that work for e-commerce marketing.
Digital Growth - Nov 2020
With over 500 million active users every day, Instagram is continually growing and has the power to connect consumers, influencers, and brands. If you share eye-catching, high-quality photos on your Instagram account, use the right hashtags, and post at the right time, you will be on your way to developing a large Instagram following, and a following made up of people who are actually interested in your products and services. The key to creating a powerful Instagram presence is to engage with your followers. The more engagement, the more communication which means more trust and in the end, sales. There are a variety of ways to engage with your potential and current customers on Instagram. You can run contests, show behind the scenes footage or imagery of your products or collaborate with Instagram influencers that fit your brand. But Instagram can also be made shoppable. For e-commerce purposes specifically, you can add products to your Instagram posts and stories that lead your followers directly to your line of purchase, which is key to increasing your online sales.
Facebook offers a variety of marketing tools that will help you in your e-commerce marketing goals. Facebook helps you by breaking down campaign objectives into three stages: awareness, consideration and conversion.
4- Search engine optimisation Search Engine Optimisation (SEO), is one of the most important ingredients for a successful e-commerce website. This marketing tactic makes sure your website is optimised for search engine results. Effectively implemented SEO will get your website to the top of the search results when people are actively searching for your product or service offerings ensuring increased sales and brand awareness. This marketing tactic requires your website to be consistently updated with rich, unique and relevant content, allows for a good user experience and is optimised to search engine standards.
5. Pay per click advertising (PPC) 3- Email marketing Content marketing refers to the creation and sharing of online E-commerce email marketing refers to the science and the art of using emails to generate sales for your online store. Email marketing is one of the most effective channels for making sales and generating repeat customers. There are a lot of social media posts for your audience to keep up with, and email marketing breaks through the noise and provides your audience with a more personal interaction. And of course, email marketing also provides you with a bit more space to get your message across than social media does. It is not enough to simply collect email addresses via social media marketing and other lead magnet tactics. You need to regularly send out valuable emails in order for this channel to be an effective e-commerce marketing activity. There are many occasions that are perfect timing for sending emails to your list of potential customers, such as: •
Welcome emails as soon as a customer makes a purchase
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Exclusive promotional codes and free gifts
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Regular newsletters that offer product tips, company news, and alert customers of new products.
Pay per Click advertising, also known as PPC, is an internet marketing and advertising model that is used to drive traffic to your website. This is done by paying a fee every time your advert is clicked. This kind of marketing gets you to the top of the search engine results and your page will be seen as an advert. This will essentially drive traffic through to your website for as long as your PPC budget allows. SEO on the other hand will drive your website to the top of the search engine results organically and you will not pay a fee every time a user clicks on your page. There are three elements that make up a pay per click campaign. These are: the advert itself, the offer or the product you are marketing, and the landing page. All three of this must be in harmony if you want to maintain the interest of the lead. The landing page needs to be a strong continuation of your advert, and it needs to deliver what is promised. By directing the user directly to your product page, you will increase sales and gain a return on your investment.
In summary When it comes to marketing your e-commerce website, you need to understand the latest marketing trends and apply them to your marketing strategy. It is vital to always deliver relevant, helpful and valuable content and product offerings that suit the needs of your target audience. There are a variety of tools you can use to reach out to your target audience. With the right mix of marketing tools, you will be able to increase your conversion rate and attract new and sustainable business. 11
Digital Growth - Nov 2020
By: Shannon Correira
FASTEST WAYS TO GROW A BUSINESS FORECASTING Planning is critical for you to avoid the dangers of snowballing. Be clear about what your business's vision and mission are, and ensure you have a resource management system in place to support your business as it expands.
CUSTOMERS The fastest way to grow is to look to your current and past customers. Build on your relationships with this community, as this requires far less investment than acquiring new ones. These customers can help grow your business's sales by shopping with you more frequently or purchasing more. To achieve this, you need to up-sell and encourage loyalty.
OFFERING It all starts with a great product or service. Fast growth is possible when you have an exceptional offering - something that fills a need or want. Apart from your core product or service, consider how you can extend other value to your customer base with free content or promotional offers to increase customer perceptions of value.
TEAM Hire the best team who are prepared for business expansion, who can contribute to creating a positive and uplifting company culture in the long term. Ensure that your managers are knowledgeable about your vision and capable of delivering leadership that will affect growth to the highest possible degree.
MARKETING An intensive marketing strategy can increase your sales and help you expand exponentially by increasing leads and bringing more people to your brand. Focusing on digital marketing builds an online community in a cost-effective way. Your business should meet and engage with your customers in groups and on platforms to build positive interactions. 12
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BEST WAYS TO GROW A BUSINESS BUSINESS ESSENCE Consider strategies that will have a long term effect by avoiding quick fixes. Be steadfast in your business principles and take calculated risks. Have a reliable, supportive team once your business has a foundation of capable and excited employees, there will be a concerted team effort of people invested in the growth and success of the business.
INNOVATION A culture of innovation spurs development. Begin with your product or service - continually seek to upgrade and improve it with creative solutions. Improve your operating systems too, using the best available technologies and marketing strategies to satisfy customers.
RELATIONSHIPS Networks and relationships are vital for businesses, especially in times when testimonials are highly valued. Understand your audience to meet and anticipate their needs. Likewise, know your own brand’s voice and values well to effectively communicate your offering. Consider means of further locking these connections in with loyalty programs and online communities.
BUSINESS GROWTH AGENCY Outsource a business growth agency to improve your business holistically. They'll step in and assess your business's operations to help you achieve your objectives. Business growth agencies offer their expertise from a strategic point of view, identifying opportunities where you can improve and grow.
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Digital Growth - Nov 2020
The 6 pillars of digital marketing By: Toni Becker
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here are a variety of ways to use digital marketing to get your website to your target market, acquire leads and convert those leads into loyal customers and there are so many options when it comes to beginning your digital marketing strategy that it can quickly become overwhelming when deciding where to place your budget.
So, where do you begin?
The six pillars of digital marketing 1. Content marketing This refers to the creation, publication and distribution of helpful, informative and quality content that is strategically designed to educate, engage, and maintain, and convert your target market.standards.
2. Native advertising This is the use of paid ads that match the aesthetic of the media format in which they appear. Native ads are often found in social media feeds, or as recommended content on a web page.
3. Pay per click (PPC) This is a paid marketing strategy that involves online ads and fee will be paid every time a user clicks on the advert.
4. Search engine optimisation Also known as SEO, this is the practice of optimising a website in order for it to be search engine friendly and recognised in search results.
5. Social media This refers to promoting a business via social media platforms such as Facebook, LinkedIn, Instagram or SnapChat.
6. Email marketing This is a marketing strategy that makes use of email as a way to nurture leads and stay in touch with existing customers.
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Once you understand each pillar is, it is time to create your digital marketing strategy and grow your business!
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Digital marketing to grow your start-up By: Shannon Correira
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he world’s COVID-19 induced lockdown has left its mark on businesses throughout the globe, both big and small. The pandemic seems to have dealt blow after blow on already struggling businesses, especially when international and domestic travel was shut down across the world, completely halting the opportunity for import and export, and putting the brakes on a lot of lucrative business dealings. Now, as some parts of the world begin to open up, others are facing a second lockdown and it is this inconsistency and uncertainty that has left many start-ups and small - medium sized companies fearful for the future. According to a study by Data for Good 58% of small and medium sized businesses (SMBs) have reported a reduction in sales compared to the same month last year, while 33% reported a reduced employment in response to the pandemic. The problem with start-ups and small businesses during this time is that they have limited resources to cope with the financial pressures the lockdown has imposed and the short-term impacts could have longer term impacts, however, it is not all doom and gloom. Digital marketing offers a way for these businesses to solidify a place in their market, and this type of marketing is highly accessible to businesses of all shapes, budgets and sizes. However, when it comes to digital marketing, start-up business owners can quickly become overwhelmed with the amount of services offered by digital agencies and it is easy to become lost in the noise.
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As it stands, most start-ups already use a variety of digital marketing tactics but some of these tactics are not designed to reach their specific goals - to put it simply: not all digital marketing tactics are equal. So, which digital marketing strategy should you adopt to help grow your business in the “new normal”? In this article we take a look at the most effective digital marketing best practices for start-up businesses, and unpack how you can strategically implement these tactics to increase your customer base, survive and even thrive at this difficult time.
Email marketing Many people are under the impression that email marketing is “dead” but according to statistics released at Inbound, HubSpot’s annual marketing conference, which was held in September 2020, email marketing is on the rise. The study presented at the conference outlined the rise of email marketing between March 2020 and August 2020. The study stated that during this period: • • • • •
Email inbox activity went up by 22% B2B Open Rates went up by 16% B2C open rates went up by 25% Email newsletter open rates went up by 19% Email sign up open rates went up by a staggering 40%.
Another survey conducted by Demand Metric and the Data & Marketing Association concluded that email marketing offers an impressive 122% Return on Investment. This number is 4 times higher than the other marketing channels that were analysed in this study - and any start-up would be happy with that kind of return. So email is far from dead, if anything, email marketing is thriving. What is important to note is that email marketing campaigns are not copy and paste jobs that can be sent out to a generic mailing list. Every campaign requires personalisation, strategy and should be tailored to speak to the receiver in a way that suits where they are at in the buyer’s journey.
3 Tips for a successful email marketing Subject Line: Make your subject line engaging, catchy and benefit-rich. If the subject line does not immediately grab attention, the receiver will move on to the next message in their inbox even if the main body of an email contains information they may find valuable. Tailor your message: An important aspect of email marketing is to tailor your message and subject line to target specific segments of your leads database .The simple things make a difference, for example: avoid addressing your recipients with ’Dear All’ or another generalisation. Keep it personal, using the recipient’s name both in the Subject line and in the intro line of text. If you know the recipient’s company name, add this too but be sure to keep these inclusions within the context or your
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email. As it is today, marketing automation is a great method to assist marketers in sending highly targeted emails to potential clients. Create a strong call to action: Always finish your emails off with a ‘Call to Action’, something that will prompt an action from the user. This click-through is the ultimate goal to your email marketing campaign. It gets the user to your website where they can get more information and hopefully this action ends in a purchase. Email marketing has been around for years, and every year, it becomes smarter. It is a powerful tool that when used correctly, can reach prospects or up-sell to current customers, the perfect marketing platform for any start-up looking for a cost-effective marketing solution that offers a great return on investment.
Social media marketing Social media is one of the most powerful and cost-effective marketing strategies available today. A Social Media Examiner report has stated that 90% of marketers confirm that social media is important for business and 89% of marketers stated that their social media campaigns have generated increased brand exposure for businesses. What makes social media so powerful is that it can be used to target a niche audience based on a set of specific criteria including behaviours, age, gender, interests, location, income and more. The benefits of social media for start-ups are powerful, and if implemented correctly these include: •
Increased brand exposure and website traffic
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Quality social media content and engagement develops strong customer relationships and builds trust
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Can improve search rankings
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Generate quality leads
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Increase sales
So, how can you grow your startup on social media and reap the rewards?
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3 Tips for successful social media marketing
What makes up SEO •
Technical Quality of your Website: The main goal of technical SEO is to optimise the infrastructure of your website, making it appealing to search engines. This is done by making sure your website is indexed correctly so that search engines can access it without any issues, providing search engine «crawlers» with the right signals to understand the structure of your website, and giving search engine algorithms a reason to trust your website.
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Content Quality and Volume: Google and other search engines are searching for pages that contain relevant, meaningful, helpful, and high quality information related to the searcher›s query. These search engines want to make sure they are directing a user to a website that can help them and offer them exactly what they are looking for.
Every campaign requires personalisation, strategy and should be tailored to speak to the receiver in a way that suits where they are at in the buyer’s journey. Market research: When you are using social media marketing for your start-up, you need to have a nuanced approach and you need to conduct extensive research about your target market. Any start-up has probably already outlined their buyer persona, and now it is time to look at these personas with social media in mind. That is: where is your audience active online and what social media platforms do they engage with the most. Instead of signing up to every platform you can think of, spend your time on the platforms your customers will use the most - this saves you time and ensures your resources are put to greater use. Quality and consistent content: Make sure your brand image and brand message is consistent across your social platforms. To build your social media authority, you need to create highquality content regularly. This does not mean that you simply post images of your products or services with a catchy caption, you need to create content that is informative, shareable and benefits your audience in one way or another. Social media advertising: Platforms such as Facebook and LinkedIn are two of the best social media platforms for lead generation as they offer specific ad options that are created for this specific purpose. The number one tip we have for start-ups that decide to use social media for lead generation would be to make sure that you do not simply “boost” your content - make sure to have direction and purpose so that you can maximise the results of your spend. Also make sure to measure and track your campaigns once they are up and running, there is a lot of data that can be derived and analysed to show your return on investment and ways to improve your future campaigns for even more return. Social media is a cost-effective marketing strategy and if implemented and monitored correctly, will increase your sales and help your start-up grow during these trying times.
Search engine optimisation
3 Tips for successful search engine optimisation Content is king: Make sure that your website content is informative, more useful and valuable than what is on your competitors sites, and is unique. Have patience: SEO is a long-term strategy and through professional implementation, your website will begin to rise up the ranks in time. However, once your site rises up the ranks and gets ahead of your competitors, it becomes incredibly difficult for them to rise above your business if you continue to create relevant content and keep your website technically sound. This lack of instant gratification may sound frustrating for start-ups but it is absolutely worth it in the long run. There are quick ways to get to the top of the search engine results such as Pay-PerClick campaigns, but these can become expensive and only last a short amount of time. You want to make sure your spend is aimed at long-term success, not short term gratification. Partner with a professional: SEO is not a simple process and requires technical know-how and quality content creation in order to be successful. The average customer will always turn to a search engine such as Google whenever they have an immediate requirement for a product or service or are in the process of researching their next supplier. It›s therefore important for your start-up business to be visible at the very moment a potential customer is searching for a business such as yours.
You have created and launched your website and have worked hard on creating helpful and informative product and services pages, and now your audience will find you…
That is not how it works There are hundreds, if not thousands of websites in your sector, so how can your new website come up at the top of the search engine results for the keywords and keyphrases related to your business? This is when Search Engine Optimisation comes into play. Search Engine Optimisation (SEO) is designed to increase traffic to your website and help your website rank higher in the Search Engine Results Pages. And if your page ranks higher than your competitors, you will become a major player in your industry. So, how does this work? To put it as simply as possible, you need to increase the technical quality of your website as well as the quality and volume of the content contained on your website in order to be placed at the top of the results.
Time to build your start-up! Building a successful start-up company is difficult, especially in the current climate. However, by investing in the right digital marketing tools, you will be able to stand out from the crowd and build a trusted and respected online presence. Throw your trepidation aside and begin building your dream by going digital.
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Digital Growth - Nov 2020
By: Toni Becker
PODCASTS VS WEBINARS WHICH ONE IS MORE EFFECTIVE? WHAT IS A PODCAST?
WHAT IS A WEBINAR?
A podcast is a digital audio file that listeners can access through platforms like Spotify or Google Play. They are usually free and available for download at any time..
A webinar is an online seminar held in real-time for people all over the world.
WHAT ARE THE DIFFERENCES BETWEEN A PODSCAST AND A WEBINAR? Webinars are multimedia, this means that they contain both audio and video, while podcasts normally only include audio Webinars are mostly held in real-time, while podcasts are usually pre-recorded The majority of podcasts are free, while webinars (in many cases) impose a registration fee It’s worth noting that these differences do not pertain to every single podcast or webinar. It is possible to find podcasts that incorporate video, and there are plenty of free webinars available on the web..
PROS OF PODCASTS OVER WEBINARS Podcasts generate leads constantly and they draw in the biggest audience. Most podcasts can be downloaded for free. Immediate marketing is not required for podcasts while this is a requirement for webinars. If you don’t market your podcast and people don’t tune in when it premieres, it’s not a train smash since you can go back to marketing it at any time. (Unless the podcast topic is time sensitive, of course.)
CONS OF PODCASTS OVER WEBINARS Podcasts are harder to monetise. Podcasts make it harder to monitor audience reaction as this does not take place in real time. While polls can be integrated into a webinar, it is not as easy to do with podcasts. Podcasts are less hands-on than webinarsEven if you do not intend to teach practical skills such as programming, you may still find it hard to deliver the utmost quality to your listeners.
PROS OF WEBINARS OVER PODCASTS Webinars make it easier to remember the information presented and this is one of the most notable advantage of webinars over podcasts. Webinars make it possible to present information both audibly and visually via visuals such as video and slideshows. Webinars are better for teaching practical skills as they can happen in real time and incorporate visual elements and engagement. Webinars draw in the most relevant audience as they require users to sign up in advance, and in some cases pay a registration fee - this is more of an investment for the viewer.
CONS OF WEBINARS OVER PODCASTS Webinars take more effort to prepare as webinars add a visual component that doubles the required efforts. Webinars are in real time and in front of an audience, even if you do not lose your train of thought, technical issues may arise and cause interruptions, latency and even blackouts. Webinars will have a smaller audience as not everyone will be able to show up at the allocated time.
As you can see, webinars and podcasts have both advantages and disadvantages, and there is no clearly defined winner. It comes down to what what you feel is the best platform to share your thoughts and insights - and which is better suited to your ultimate end-goal. Hopefully, these observations will help you make a smart choice between a podcast and a webinar for your business. 18
Digital Growth - Nov 2020
Can email marketing grow your business? By: Toni Becker
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hese days, email marketing is often considered quaint compared to the sophisticated and advanced ways we engage on the internet these days, but the number of email users throughout the world continues to grow. In fact, in the beginning of 2020, email users reached a staggering 2.9 billion - a third of the world’s population. So, when people say email marketing is on its last legs, think again. Email marketing is more relevant in 2020 than it has ever been before, but your email marketing efforts require strategy, personalisation and automation in order to receive the best results. In this article we will take a look at statistics released at Inbound, HubSpot›s annual marketing conference, which was held in September 2020. These statistics are based on data collected from over 200 million emails between the months of March 2020 and August 2020. Essentially, this data proves how email marketing has soared during the “new normal” and how it will continue to grow during and post COVID-19.
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Digital Growth - Nov 2020
The history of email marketing Before we unpack the statistics provided by the study, let’s take a look at a brief history of email marketing and how this instant communication tactic changed the way we do business forever.
Subject line word: Count to increase open rate The study revealed that subject lines with less than 20 characters had a significant open rate increase during this period. Open Rate for subject lines with less than 20 characters during this period:
The very first email was sent in 1971 by Ray Tomilson. A renowned computer engineer, Tomilson developed a new system of sending messages between computers that became known as electronic mail or email as we know it today. The method of sending and receiving these messages using electronic devices actually pre-dates the invention of the internet and relied on a US Department of Defense system called ARPANET in order to function, and this became the basis for the internet as we know it today.
B2B Open Rate Increases by 27% B2C increases by 29%.
With the rise of the internet and instant communication, it wasn’t long before the first email marketing campaign took place. With an approximate count of 400 recipients, Gary Theurk of Digital Equipment Corporation sent out the very first email marketing campaign in 1978. The email blast was a strategic promotion for his businesses which resulted in $13 million worth of sales. And due to the incredible success of his campaign, email quickly became the worlds most sought after tool for marketing. Since then, email marketing has continued to flourish and its rise (and in some cases, fall) has led to advancements that have made it an even stronger form of marketing communication.
According to the study, the subject line words that increased open rates during the 60 day study included:
When implemented strategically, email campaigns have the ability to advertise, promote and engage with consumers on an incredibly powerful level. However, the key is creating campaigns that are relevant, insightful and engaging - and all campaigns need to be designed to drive the receiver to take a specific action. As the new normal hit the world in 2020, we found ourselves stuck behind our 4 walls and behind a computer screen. And with the below statistics in mind, online communication during the time of COVID-19 has become even more vital for our survival, both socially and in business. Let’s take a look at how email marketing has made a big comeback in the past few months, and how you can make this form of communication work for your business and your bottom line.
The Study: Results compared between 30 days in March 2020 and 30 days in August 2020. In the 60 days of the study (30 days in March 2020 compared to 30 days in August 2020): • • • • •
Email inbox activity went up by 22% B2B Open Rates went up by 16% B2C open rates went up by 25% Email newsletter open rates went up by 19% Email sign up open rates went up by a staggering 40%.
The increase in email marketing success is notable as per the above the statistics, and it is important to understand what has made these campaigns such a success, by understanding what works - you will have the power to grow your business with email marketing.
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Significant subject line words to increase open rate The study also showcased the best words to use in subject lines during this time.
• • • • • •
Free Today Last Chance In Stock Month Tomorrow
The reason these words are so effective is because they give the receiver a sense of urgency, that is: they only have one shot to claim the deal and it is this urgency that drives them to action during this chaotic time. The study also highlighted that brands using emojis in their subject lines increased their open rates during this period. Now that we have an understanding of what email subject line strategies are currently working, let’s take a look at the words that have a negative effect on email open rates based on the study conducted. Words that have a negative effect on email open rate: • • • • • •
Meeting Chat Quick Learn Training Remember
All of these words seem to create a level of anxiety as opposed to urgency, and during this time, no one wants to have to experience more anxiety than necessary. It is about creating subject lines that insight interest rather than subject lines that make the user feel a sense of discomfort, over-commitment and stress. Now that we have a greater understanding of how to attract the consumer to take action based on the subject line, what drives them to take further action?
Digital Growth - Nov 2020
The impact of offer related emails Promotional or offer related emails are a simple, yet powerful way to spread the word about your business and your brand offering. The objective of promotional emails is to increase awareness, generate revenue or improve customer retention/ loyalty but how did offer related or promotional emails fair during this time? Offer related emails before March 2020: BToC Average: 3x touch over 2 weeks BToB Average: 2x touch over 2 weeks Offer related emails now: BToC Average: 4x touch over 2 weeks BToB Average: 3x touch over 2 weeks So, what is driving people to engage with offer related emails over this time and what kind of offers get them to open their mails and engage with the content? The offers that are driving the receiver to take action are designed to provide the receiver something that can better their lives and something that adds value to their lives, from webinars and free trials to gifts and free shipping.
The impact of pandemic related emails
In conclusion Email marketing has been around for years, and every year, it becomes smarter. It is a powerful tool that when used correctly, can reach prospects or up-sell to current customers. An important aspect of email marketing is to tailor your message and subject line to target specific segments of your leads database. As it is today, marketing automation is a great method to assist marketers in sending highly targeted emails to potential clients. There’s a common misconception in the digital marketing world, with many commentators suggesting that ‘email marketing is dead’ but this could not be further from the truth. If you put time and effort into your email campaigns and ensure you have strategies in place for lead generation through this platform, you will attract more leads in 2021.
We have learned through the study that viewers are driven to open emails that provide a promotion or offer that betters their lives at this trying time however, should businesses be sending out communication that is directly related to the pandemic? As it turns out, people like and appreciate transparency, and emails that address the current world wide crisis received an increase in Open Rates during the period of the study: • •
B2B Open Rate increased by 48% B2C experienced an Open Rate increase of 34%.
With the above in mind, it is safe to say that consumers are appreciating email communication more each day, even at this unpredictable time.
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Digital Growth - Nov 2020
The discount debate By: Amit Vyas and Mark Williams
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OVID-19 has affected businesses the world over and while there is no way to know exactly what the economic damage from the global pandemic will be, there is widespread understanding and agreement among economists that it will have a significantly negative impact on the global economy. According to Statista, leading economics have reduced their 2020 forecasts of global economic growth down from 3.0 percent to 2.4 percent. To give some perspective on this number, the global GDP was estimated at around 86.6 trillion US dollars in 2019, and this means that just a slight drop of 0.4 percent amounts to almost 3.5 trillion US dollars in lost economic output. However, these predictions were made before the COVID-19 pandemic and before the widespread restrictions on social contact the world over. Since COVID-19, global stock markets have suffered significant falls and the Dow Jones reported the largest ever single day fall on March 16 2020. And with all of the statistics above in mind, it is easy to say that for businesses, it is no longer business as usual.
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Digital Growth - Nov 2020
The pressure to discount For many businesses, work is slow or at complete standstill, while other businesses have been booming, which brings with it its own set of challenges. As businesses are scrambling to keep from going under, companies are feeling the need to drop their prices, and discount their clients until life returns to normal. The problem is that “normal” is no longer possible - we live in the new normal now. As it stands, everyone expects a discount due to the unprecedented pandemic, and on the surface, offering clients a discount seems to have its benefits, particularly if you have lost customers and are looking to replace their business as soon as possible. Conversely, your business may be one of the few that is doing well during this time, and you may feel it charitable to agree to offer your clients a discount. Most businesses are also feeling the pressure to offer discounts because this is what their competitors are doing and they feel that if they don’t keep up with their competitors, they will quickly lose their business. However, if you do choose to go this route you will inevitably be left with less money in the bank, and your business will be expected to produce the highest quality services or products at discounted rates. The issue here is that if your competitors are in a position to hold the line on the lower price, you will experience a permanent reduction in your profits and in the same breath, by providing your clients with discounted rates you are also throwing aside your Unique Selling Position, and this is the essence of what makes your product or service better than your competitors. To put it as simply as possible, by agreeing to provide discounts and reduced rates, you are opening a proverbial Pandora’s Box of problems that will inevitably put your business at risk. Many business owners do not have a thorough and in-depth understanding of pricing, and this is not due to incompetence, this is solely based on the fact that business pricing is not something taught in school, and it is also important to note that not all accountants will advise business owners of pricing strategy as extensively as they should. Too many people do not know or fully understand the impact of discounting, so it is time to rectify this.
The self-sabotaging impact of discounting It is not uncommon to see new businesses entering competitive marketing offering discounts or coupons, and now, in the age of COVID-19, discounts are becoming more and more prevalent and more and more expected.
Discounting can affect your business negatively because it: •
Lessens the perceived value of your product or service
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Creates expectation for future discounts
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Complicates your business dealings and relationships with customers
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Shows lack of confidence or value in your business offerings
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Squeezes your profit margins
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Forces you to cut corners in order to attempt to maintain margins
Let’s work with an example that will explain the self sabotaging impact of discounting for your business further. In this example, we are selling something for $100. Our total costs are $80 and we are making $20 profit. Now, if the client asks for a 10% discount it may not seem like an unreasonable request, so, would you give it to them? Let’s take a look at the impact of this 10% discount on profit: • • •
Your selling price is $100 You are making $20 at full price If you give your customer a 10% discount, what are you making on each item now?
The answer would be that you have halved your profit, right? Well, another way to look at it is that you need to sell twice as much to make the same profit, as if you hadn’t given them a discount. With the above in mind, the problem with discounting is that any discount you do give is taken straight out of your profit. When you are working and fighting so hard for every single penny of your profit, why would you want to be giving it away with poorly considered discounts? Now that we understand we have seen the potential impact of discounting on profit, there are 3 key strategies you can use to increase your profits: 1. 2. 3.
Cutting costs Selling more products Increasing Prices
So, which of the above options should you choose to boost profits in your business? The simple answer is: all of them! The first place to begin with implementing all of the above, is with a price increase, the second is cost reduction, and once you have them all in place, start to focus on growing sales.
Discounts may seem like a logical way to help your business stay afloat during this time, but the truth is that reducing your price can quickly hinder your business growth.
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Digital Growth - Nov 2020
Cost cutting is positive for business Cost cutting can be implemented to enhance profit and productivity, and cost cutting techniques, when implemented correctly, are more or less positive than negative.
Price increase is the best choice for your business Failure to increase prices when you can, may result in a severe revenue crunch when you need your business to scale. Right now, we cannot allow our businesses to avoid facing the possibility of price increases. Rather, we need to seek to use price increases strategically to increase our selling potential, and this is why educating ourselves on pricing strategy is vital for business success and growth during these uncertain times. To find out how to make price increases without losing customers, or to access literally thousands of other strategies to grow your business, contact us today, and we will guide you on the pricing strategy path all businesses deserve.
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In conclusion We can understand how at this time it may seem reasonable for customers to expect or want the best deals possible, however discounting will create a lot of problems for your business. In essence, these problems will impact your profit margin as well as your reputation, and this can quickly threaten the life of your business. There are better alternative strategies that you can implement to showcase your business’s value, and there is nothing wrong from walking away from a deal that will not be profitable for your business - your business has value, and you need to remember this value at all times.
DIGITAL GROWTH November 2020 | ISSUE 2
