How to Win in Today’s Digital Marketplace?

Digital phones1
12
Jun

How to Win in Today’s Digital Marketplace?

12.06.18

The digital age is upon us and is transforming the ways in which we do business. Technological advancements in communication have given rise to new avenues of customer engagement, with many businesses now shifting their focus from traditional marketing methods to more digital and intuitive ones. 

However, like anything new, it’s easy to get caught up in the hype and forget there are both pros and cons to consider before going “digital”. For starters, how do you decide which platform is right for your business? What are the risks? And can you ever be too social?

We found out the answers to these questions and more when we recently attended a panel moderated by Mark Kuhillow at the TAG Alliance’s Spring 2018 International Conference in Barcelona, Spain. The panellists, Athena Constantinou, Chris Cervellera, and Robert Levy shared their own insights and experiences on how the growing digital landscape is impacting businesses, and how to take advantage of it. We’ve summarised some of our key takeaways from the discussion for you below.

1. What are the major differences between ‘organic’ and ‘paid’ marketing?

General speaking, ‘organic’ refers to any online activity where the leads (or enquiries), generated from it didn’t involve any money changing hands. It’s predominately content driven strategy, meaning that to achieve results you need to create unique content such as an email newsletter or a Facebook post. ‘Paid’ on the other hand, refers to the online activities that you must pay for to generate leads, for example a Facebook ad or paid search terms (think AdWords).

 

Social MediaWhich is best for you? It depends. If your aim is to drive traffic and conversions quickly and you have the budget for it then paid social advertising can give your business a quick boost.

Whereas, if your focus is on building strong, long-term customer relationships, and you have both the time and budget to regularly create quality, shareable content then an organic strategy might suit you better.

However, for most businesses a good place to start is by using a combination of the two and tracking your engagement to see which strategies give you the best outcomes.

2. How can you track the effectiveness of your activities?

There are many different metrics you can use to see how effective your online activities are. Some of the most common and useful of these are:

Web Analytics:

  •   Referring Domain
  •   Area’s visited
  •   Leads generated
  •   Dwell time
  •   Phone calls
  •   Leads captured
  •   Advertising messages
  •   New vs Returning Customers

Social Platforms:

  •   Profile Views
  •   Who has viewed
  •   Number of articles views
  •   Article views by:
    •   Industry sector
    •   Leads captured
    •   Advertising messages

3. How can digital marketing improve your business growth strategies?

  • Provides access to a larger audience, especially to potential customers that you may not have been able to target through traditional methods in the past.
  • Offers a greater range of customer acquisition channels, such as email and social media that you can use to better target specific customer segments.
  • It’s often cost-effective and efficient strategy allowing you to engage with your customers on a more regular basis.
  • It builds your brand awareness, improving customer loyalty and lowering your customer acquisition costs.

These are just some of the things you should consider when trying to boost your business’s online presence.  A general rule of thumb is to pick the platforms that you are comfortable using, and feel are the most beneficial to your business and customers. 

If you would like to share your own online marketing experience, or would like more information on any of the above, please contact your relevant ESV Engagement Partner on 02 9283 1666.