Updated: Sep 11, 2020
During the time of current pandemic, nature is forcing us to reimagine our lives and businesses. Norms of doing business merely four weeks ago aren't true anymore. Nature is pushing us to get out of our comfort zone and take action - action that will transform the way we live, think, buy, consume.
Small businesses are getting hit everywhere. Some have to shut down. But then some are emerging. They see an opportunity to reinvent and not just remain alive but compete at a grander scale.
Here are how small businesses can being their transformation.
1. Update Your Website With The New Norms
Until three weeks ago, small business owners, especially service-based companies used their website like a business card. They would have a couple of pages describing their services and a Contact Us page that would get the leads. Website is one of the greatest marketing tools one can have. But is a living and breathing organism that needs nourishment and effort to grow.
What you need today
Chatbot: Chatbot is the new way to capture leads quickly. 7 out of 10 leads are captured on chatbots. Chatbots have become a staple functionality on websites.
e-Commerce: Set up an e-commerce platform. Using a platform like Stripe, you can easily get people to pay you on your website. Say, you are a CPA or a lawyer and someone is looking for an advice or consultation, you can charge then online to book an appointment with you.
Scheduling System: A cloud-based application like Calendly on your website help you set up your availability within minutes and schedule meeting with your potential or existing customers.
2. Segment Your Customers
Identify the customers personas that you want to serve the most. You may want to segment such customers for different reasons that serve your strategy. There are many ways to segment a customer. Here is a link to our video on customer segmentation seminar.
Most profitable customer personas
High volume customer personas
Segments with lowest cost of acquisition, and so on
3. Identify The Right Marketing Mix
Understand the best personas first. If you know who your top customer segments are and how they influence your business, you will know where to find them. For example: if you are looking to attract parents with children between the age of 4 and 15, live in suburbs and make less than $200K in household income, such parents are highly connected with social media groups and communities, they browse content on parenting websites or buy children’s consumer products of certain price range. Placing ads on the relevant social media platforms and websites will get your company’s message in front of the right people.
4. Setup The Analytics
Digital marketing is all about numbers and data. Unlike print ads, digital ads can let you know how many views an ad got, number of clicks, number of purchases, number of website visitors from different marketing channels, and so on.
DIY – If you have some affinity towards numbers you can start with Google Analytics (GA). With GA, business owners can go in various depths to analyze their website performance. It is a very sophisticated tool that provides high level analysis as well as finer details
Hire an Expert or an agency like ScaleUp42.com – Marketing analysts not only understand the numbers but also know how to use the data to optimize the performance of marketing dollars. They will continually monitor your marketing campaign and tweak as they go. They also have access to highly sophisticated tech that automates marketing optimization and creates informative reports for you.
5. Setup OKRs and KPIs
Most are familiar with KPIs or Key Performance Indicators. With KPIs, a company can measure the performance over a period of time. Usually KPIs are connected with certain strategic objectives. For example, Retail industry: revenue per square foot, same-store sales, sales per employee or in Healthcare industry: patient wait time, average treatment charge, number of educational programs.
From digital marketing perspective, your KPIs could be Return on Ad Spend (RoAS), sales per hour, returning users on the website, revenue per transaction.
OKRs have found prevalence in recent times, although they existed since the 80’s. Objective and Key Results (OKRs): If your company has three to five objectives, you must have determined certain outcomes or key results that will help achieve those objectives. OKR provides framework to track the results. For example:
Objective: Increase revenue by 30 percent.
Key Result #1: Acquire 50 new customers.
Key Result #2: Increase marketing leads by 20 percent.
Key Result #3: Increase customer retention to 85 percent.
How Can We Help
ScaleUp42 is digital marketing technology company built on the principles of data science, behavioural insights and design. Our mission is to support the growth and development of small and mid sized businesses. We help our clients with revenue growth and sales by connecting them with the right customer segments.
Audit you business' online presence by doing a SWOT analysis
Develop a short term roadmap to get the things fixed or upgraded
We will build the website, social media profiles and profiles on business listing sites
Do the necessary customer analysis
Execute marketing campaign for you
Contact Us: email@example.com