Leaving Traditional Behind And Going Digital

Companies are becoming increasingly dependent on technology. But, the agencies they depended upon have now become obsolete. Hence, these companies are turning to Digital Marketing Agencies to get their business up and running again. Traditional marketing has almost gone out the window and could soon get extinct. Let us for instance consider hoardings. It is firstly very expensive and there is no way of quantifying the Return on this particular investment. There is no way of perfectly knowing the number of views, how many people like or dislike it.

On the other hand, Digital Marketing will give you very quantifiable results. What are the various digital solutions that can be offered to us? How do they compute these results?

Websites: Incase your firm still does not have a website, a digital agency could help you from scratch. They will build, design, create content, manage and update your site regularly. As they are professionals it greatly helps in enhancing user experience and thus getting business. How can you get business from your ‘site’? Well, a survey suggests that most number of people first look you up on the web and only then take the next step of buying from your site directly (if such an option is available) or visiting your store or office.

Mobile Marketing: Nowadays there are millions of people browsing the internet on the go via. mobile phones. If your site is not compatible with mobiles you are missing out on a major market share. Your site should not only be compatible with a desktop computer but also with tablets and mobiles. Even in mobiles, your site should be well- suited for phones of various size and operating systems.

Search Engine Optimization: As stated above, people look for your site online. How do they go about this? They do it via. search engines like Google, Yahoo or Bing. There are millions of sites on the net. What if your site is on the say 27th page of Google’s search results? Is that going to get you any visitors? SEO tweaks your site in such a way so as to bring it to the top three positions of the search results. This will highly increase your traffic. Google provides an analytics tool to track no. of visitors to you site, the time at which they came, geographical region, from which source did they reach our site etc. None of these are possible in traditional forms of marketing.

Social Networks: This kind of digital marketing solution is used mainly to build brand awareness, its recognition and thus brand equity. Most of your users today are very active on social networks. It is where you can connect or in better terms converse with your customers. Again, traditionally this is not possible. Your customer service betters manifold thus getting your brand a better name and thus, more customers. It is very easy to measure the people interested in your brand with provisions of the “like” button, +1 etc. These features vary from one network to another.

Pay per Click: There are also paid ads available on the internet. You have to pay on the basis of the number of clicks you got. Also there is a Pay per impression. Here, the hosting website or search engine displays your ad thousand times for a particular price. Still, this is comparatively cheaper than traditional marketing.

An agency provides every necessary digital marketing solution that a business may need. You could be catering to other businesses (B2B) or directly to customers (B2C). A digital agency does everything from scratch for you, thus giving your company higher returns.

Secrets of Successful Business Relationships Online

Operating a successful business is largely about building and maintaining relationships. Sure, your customers are concerned about price, quality, service, etc., but the most successful businesses are those that work to develop a relationship with their customers. Look at Wal-Mart, for example. Do you really need someone handing you a shopping cart on your way in the store? No, but they always hire a nice, elderly type people who smile and says hello to you as you walk in. That’s relationship building!

Truth is people will often pay more for something if they have established some kind of personal connection with the person or persons within the business. Certainly, such relationships lead to repeat business, whether you run a grocery store, a restaurant, a sporting goods store, or a movie theater.

For most of us, it’s not often that we develop substantial relationships with people at the places we frequent. This is due to a number of reasons; maybe the store is large and has many employees and therefore you never really see the same people with each visit, sometimes it’s just a quick stop or perhaps you don’t visit all that frequently. But if you think about it, there are probably places you go often, where you have established some kind of relational bond with someone who works there. It’s that kind of familiarity that keeps bringing you back. And of course, not every place of business can develop an intimate relationship with every customer, but those that try are often more successful than those that don’t.

Building Business Relationships Online

While online businesses lack the ability to build relationships face-to-face, this does not negate the importance of building relationships with your customers–you just have to go about it a bit differently. In part, this is accomplished through your website itself, sometimes through email communications, and occasionally over the phone. Since the website is usually your first point of contact, and therefore the point where you establish your first impression, it’s vital that your website do all that it can to set the groundwork for building a strong relationship. The website can’t do everything for you, but if your visitors come and leave without ever having made even a superficial contact with a person or a persona worked into the site copy, they will leave without having established any sort of intimacy, and therefore no sense of “connection,” with you or your business.

I found the following quote the other day in regard to building relationships with people in a personal sense, but I felt it also applies to building relationships for business as well:

People are insecure; give them confidence.

People want to feel special; compliment them.

People desire a better tomorrow; show them hope.

People need to be understood; listen to them.

People are selfish; speak to their needs first.

People are emotionally low; encourage them.

People want to be associated with success; help them win.

–Pete Vossler

While all of the above are generalities, they do largely apply to most people, regardless of how successful, “important” or how well-known they are. And of course, it also applies to the average Joe and Jane Doe web surfer looking for a place where they feel comfortable handing over their money. So how do you go about building relationships with your potential customers online? Glad you asked.

People are Insecure; Give Them Confidence

It’s easy to buy from a brick and mortar store where you see real faces involved. Even if it’s some 16-year old kid, with numerous body-piercings standing behind the counter, you have confidence that when he takes your credit card he won’t be stealing the numbers. This kind of confidence in the buying process is lost online. My biggest issue with buying products online is the return process if, for whatever reason, something goes wrong. It’s easy to drive back to Target and return something you don’t want. But online, once the purchase is made, the return process is more cumbersome and often results in extra shipping fees.

You need to give your visitors confidence, not only in the security of the purchase process, but also in the quality of your products, their expectations and your policies and procedures in case something doesn’t go as expected. This is most easily accomplished through making sure you have pages on your site that address each of these issues, and clear and obvious links in the places where the customer will be most looking for them. For example, your product pages might need an obvious link to your return policies page–even if that link is already available through the main navigation.

People Want to Feel Special; Compliment Them

Who doesn’t want to feel special? A compliment goes a long, long way in helping to establish that mental relationship. How do you compliment someone you don’t know? Some simply ways are to write these compliments into your content, “You’re obviously looking for quality baby clothing, you’ve made a wise decision visiting our store.” It might sound a bit cheesy, but it works, as long as you don’t go overboard. These types of compliments can also be worked into your email and phone communications.

People Desire a Better Tomorrow; Show Them Hope

Will your products or services make their lives better or easier? You must already believe that otherwise you wouldn’t be selling what you do. So use this opportunity to explain how your products are going to be good for them. Explain how life will be better once your customer purchases what you are selling. Illustrate to them the benefits, not just the features. If you can give your customers hope–convince them–that your product or service will improve their lives; you’ve got a sale in hand without the cost being a significant factor.

People Need to be Understood; Listen to Them

Even before you have a chance to communicate with your clients verbally or via email, are you listening to their needs? Whether or not you listen to your website visitors can easily be determined by your USP, Unique Selling Proposition. What? You don’t have one? Then you may not be listening to your customers needs. Your USP is what makes you stand out from the thousands of other stores online peddling the same wares as you. Why should they buy from you as opposed to someone else? Price alone is rarely the determining factor.

You need to offer your visitors something unique that tells them that you have listened and responded to their needs. Even if you sell the same product or service as others, your unique approach is one developed out of conversations with your customers and seeking ways to find solutions to problems even before those problems existed.

People are Selfish; Speak to Their Needs First

More than anything, people want you to meet their wants and needs. They’re not shopping on your site for your benefit; they are there because they are in need of a solution for X. Your first order of business on your website is to tell the customers how you can meet those needs and what your products or services will achieve for them.

People are Emotionally Low; Encourage Them

For some sites, shopping cart abandonment is astronomically high. Why is that? Primarily because people need to be encouraged to proceed with their purchase. I’ll often start shopping for a book or DVD, have it in my basket, go through much of the checkout process, but just before I finalize the payment I hesitate. In my mind I’m thinking, “should I buy this now?”, or “Will my frivolous spending upset the wife?”, or for larger purchases, “Can I afford this?” Most of these questions surface on an emotional level; sometimes rooted in fact, sometimes not. The bottom line is that a little extra encouragement can help persuade visitors through the selling process.

In fact this very thing happened to me just the other day. I threw a couple of books into my Amazon shopping cart but since I’ve purchased quite a few books lately so I began to think twice about buying a couple more now. Amazon provided the encouragement I needed. By filling out an application for an Amazon Visa card I got something like $30 off my purchase. I was sold and so were the books. You don’t have to give away money to encourage your visitors to make a purchase, but you can re-iterate the benefits of their purchase one more time.

People Want to be Associated with Success; Help Them Win

Everybody wants to feel successful. The funny thing is that people don’t even have to be successful in the larger financial/business sense in order to feel successful in every day life. Success often comes from the little victories achieved here and there. Your product or service may not be able to change your customer’s destiny, but you can help him or her feel that their decision to purchase from you will help them be successful at something.

Selling baby diapers? Your diapers can successfully prevent leakage. Selling batteries? Your batteries can successfully start the car each morning. Selling cleaning supplies? Your supplies can help them successfully clean their house better. Let your visitors know what they will be successful at with their purchase.

The other side of this is that people also want to see that you are successful. Your success–or lack thereof–is inferred by how your website looks, the number of employees that work for your organization, or possibly even the number of clients you have. A business’ success is determined mostly by superficial perceptions. If visitors perceive that you are successful they will gravitate to you based on that alone. After all, you must obviously know what you’re doing if you can afford a great site, X number of employees, to charge outrageous fees, etc. But be careful here as well, success can often create a negative perception of you or your business. You might be considered too successful to be able to give them the time or quality your visitors expect.

If you are able to build strong relationships with your website visitors, even perceptually, this will give you a significant sales and marketing advantage over many of your competitors. Building these relationships alone won’t make your business the most successful in your industry–there are many other factors involved–but relationships are a crucial factor in being able to establish and maintain long-term customers. Every marketing dollar saved by not having to seek a replacement for a former customer that now shops elsewhere is an additional dollar (plus additional sales profits) that can be spent in obtaining and maintaining new customers.

5 Keys to a Successful Business

Business owners are some of the most optimistic, and often the craziest people in the world. No-one starts a business believing that it will fail. We are all absolutely convinced that our idea is a great one, that we will be successful (where others have failed) and that this business will change our lives for the better. If we did not feel that way, we would never take the risk to invest our own money, or borrow from others to start our business. The reality is however, that, according to the SBA, most businesses eventually fail and more that 50% do not survive beyond the first 3 years. Even if you manage to get that far, things can still go horribly wrong, as many seasoned business owners found out during the recession which hit us during 2009 to 2012.

So, does this mean that you should not start a business at all? Absolutely not. I believe that your business can be an outstanding success, if you approach it in the right way, avoid repeating previous mistakes and impose discipline on yourself as the owner. Here are some of my suggestions on how you can make sure that your business succeeds:

Discipline:

Lets start with you. Successful business owners are disciplined people and more often than not, businesses fail because their owners fail. Your business must compete to succeed. There is always someone out there, trying to win over as many of the customers that you are targeting. Business is competitive and if you do not intend to work hard and discipline yourself, then don’t get into the arena. Anywhere there is competition, there must be discipline. You could have the most unique skill, or the best product idea, but your business will never achieve its full potential, if you do not have discipline.

Discipline is a determination to work hard to get it right. It is not settling for mediocre results but rather working until you achieve the qualities and results that you need to compete. No-one will buy your product if it is substandard, or hire your services if you cannot deliver what you promise. Business discipline requires an eye for detail. I learned a valuable lesson very early on in my career. I was once required to do a financial presentation to a senior executive and felt that since I knew this stuff, I could get by with a minimum amount of research and preparation. I went to the meeting and had my presentation ripped to shreds. I was unable to answer questions that were obvious and fell way short on the detail needed to be credible and convincing. I left that meeting upset and angry, not with the executive, but with myself and vowed that this will never happen to me again. As a business owner you will not get things right every time. You will make mistakes and mess-up on occasion. But if your product or service fails, let it not be for lack of effort and discipline on your part, or that you were too lazy to do it right.

Due Diligence:

“A fool and his money are soon parted” – Dr. John Bridges
“All that glitters is not gold” – William Shakespeare
“There is a sucker born every minute” P.T. Barnum.

These old sayings are trying to warn us that not everything we think is an opportunity or a good business idea, is likely to succeed. There are many con-artists out there, whose sole purpose in life is to deceive you into making financial commitments and who have no problem in robbing you blind. It is therefore foolish on your part not to do proper due diligence on any business idea, franchise or entity you intend to buy or invest in. This is where many business failures occur. At the very beginning.

Due diligence is a serious matter for start-ups as well as on-going businesses. Large successful businesses are constantly doing “due diligence” on their internal processes (systems review, business process improvement, financial and strategic planning) as well as on any expansion thrust or acquisition they may contemplate. Start-ups need to do this as well, before they invest significant funds. Be wary of taking advice from people with vested interests in your decision. For example, you may be considering investing in a franchise. Don’t rely solely on the advice of the franchise vendor with its polished website and a persuasive story, to tell you what a great opportunity this is and how much money you will make. Get independent advice and do your homework before you invest.

Many people start businesses based on a personal passion. While this a great plus factor for success, because your passion drives you to overcome obstacles, it does carry the risk of making business decisions with your heart rather than your head. Sometimes we are too close to the project to be objective and we become emotionally committed too early. This is where an independent expert like an experienced business coach or adviser comes in handy. Some would-be business owners need to hear the brutal truth (in a compassionate way), before they go on to make the mistake of their lives. “Faithful are the wounds of a friend” (Proverbs 27:6). Finally, don’t be taken in by those who pressure you into investing in “a once in a lifetime, limited space available” opportunity. Anytime someone says that to me, I take a step back, and take a good hard look, to see what I’m missing about the offer. It is better to miss out on a “limited offer” opportunity than to rush in and lose your money.

Marketing:

A well thought out and researched marketing plan is one of the most important ingredients that you need to succeed as a business owner. Unless you happen to own the only source of water in the desert, don’t expect people to automatically think of you and come flocking to your doors to buy your product. I worked in a corporate career as a CFO for many years before going off on my own. One of the biggest challenges that I faced when I decided to start my own consultancy business, was how to market my services. That is because, for many years, my job was about cleaning and cooking the fish that someone else caught. All of the businesses I worked for, had large, well staffed marketing departments, whose jobs it was to go out there and win customers. My job was to manage the money and make business decisions. That works fine if you are a part of a large well structured business. If however, you are the owner of a small business, marketing is not a secondary pursuit to be left to others, it is your primary point of focus. You may have a brilliant product or service to offer, but if you do not have a winning marketing plan, no-one will know about your business or care about what you sell. So, whether you are a small or large business owner, you must get involved and often drive the marketing function. You need to know the following:

What specific need does my product or service meet?
Who are my customers, what do they want and how much are they willing to pay for it?
How sustainable is the demand for my product or service?
What is it about my product/service that makes it unique? How can I take advantage of this?
Who are my competitors and what are they able to do better than me?
How do I reach out to potential customers to persuade them to buy my product /service?
How much money do I have available to promote my business?
What specific marketing/promotion activities will work best for me?

Answering these and other marketing questions would help you understand your product/service customer appeal and market potential and how it ranks against your competitors’ offerings. This forms the basis of your marketing strategy and business plan and is critical to your long term success.

Capital:

Raising sufficient capital to start and develop the business is very often the biggest challenge that entrepreneurs face. I have seen many, potentially successful businesses, grind to a halt because the owners did not have capital to take it from start-up, to sustainability. A business needs capital to acquire productive assets and fund its operations until the business itself can generate enough positive cash flow to continue as a going concern. Say as an example, you decide to start a restaurant. You would need capital to buy cooking equipment, furniture, renovate the premises to suit your needs, buy inventory, secure licenses and so on. This is what many people understand capital to be used for, the initial investment to start or acquire the business.

However it may take a while for your restaurant to become popular and attract enough clients to provide the revenue to fully fund operating costs. In the mean time you have overheads to pay such as monthly rent, wages to employees, advertizing costs, replenish inventory (drinks you sell and food ingredients you serve) and so on. This is where many businesses fail. The owners hope that the sales they generate in the future will cover their operating costs from day one and do not properly estimate the time it would take for the business to become established, during which the owner needs to have additional capital to carry the business.

Underestimating the point sustainability or “breakeven point” is a common and fatal mistake made by both seasoned and novice business owners. Before you start your new venture, you have got to realistically project your future cash flows and determine if you have sufficient capital to succeed. Here is what typically happens if you don’t do this. You start your new business by investing your life savings. Things go well for a while, but you soon realize that it is taking longer for the business to become established than you anticipated. Customers are coming in, but not in the numbers you first expected. A lower number of customers means less revenue to pay expenses and you quickly find yourself running out of money to pay suppliers and bills as they fall due. Next comes the juggling act of trying to figure out which suppliers to pay first and which ones you will stretch out far into the future. The calls begin to come in from creditors and you now find yourself working for free for a business that you love, but which is slowly dying, because it ran out of capital before it became sustainable. This is the most common reason for business failure and it supports the SBA statistic that it takes 3 years for a business to fail. That is the time the owner takes to realize the painful truth, that he/she never had sufficient capital to start the business in the first place.

Faith:

These four items, Owner Discipline, Due Diligence, Marketing Strategy and Adequate Funding are the main, universally applicable business ingredients needed to operate a successful business. There is however one more ingredient, which is personal to each business owner, and that is “faith”. I said earlier that business owners are either the most optimistic or the craziest people on earth. That is because we take risks with our capital as an act of faith, hoping for a successful outcome. It takes faith to start a business. But what is faith? It is an expectation that things will work out, or materialize, as we hope or believe. It is what gives substance to our hopes and dreams. The Bible tells us that “Faith is the substance of things hoped for, the evidence of things not seen”. (Hebrews 11:1).

As believers in Christ, we have already established a platform of faith in our lives. We believe that an unseen God, who controls the universe, has a plan and a purpose for our individual lives. This plan is made real in us as we place our faith in our Lord Jesus as our personal savior and leader. Now, to everyone else, this is absolutely nuts. But to those of us who have taken this step of faith, it is as real as the air we breathe. Once we get to this point, every additional thing we do that requires faith, is built on this platform. As a result, our decision to start a business, is not based on an abstract optimism that things will somehow work out, but on the trust we establish in our Lord Jesus to lead and guide us.

I believe that when we become reconciled to God through faith in Jesus, an eternal destiny opens up to us. We who were all once distant from God, now draw close to Him and get plugged into His purpose for our lives. Our purpose for our businesses also transitions from simply being a source of personal wealth, to a tool that God uses to bless us and to bless others. As we actively cooperate with God as an act of unselfish faith, He leads us into decisions and opens doors for us, that we ourselves could not open, all according to His will and purpose. Being Christian business owners does not guarantee that we will all be rich and “successful”. It does however give our businesses and our lives an added dimension and very often, if we are committed to God’s processes, things work out to our benefit. Our role is to trust God for the unknown, follow His leading, even when this conflicts with our personal agenda and build our businesses on Biblical principles. When we take this approach, we have the assurance “that all things work together for good for those that love the Lord and are called according to His purpose” (Romans 8:28). This hope applies to our all aspects of our lives, including our businesses.

I hope this information was useful to you and I encourage you to contact me if you have any questions about your business.

Robert.
Website: http://www.christiancfo.com Email:[email protected]

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