How would you feel if I walked up to you and say “hey, give me your money”?
Confused and creped out, right?
But you give your money out to people you don’t know online, and it doesn’t feel creepy, why? I’d tell you why “Approach and Marketing.”
You can get anyone to give you their money; all you need is the right approach and a great marketing strategy. This is where Digital Marketing comes in. Digital Marketing can help you reach the right people and make them give you their money without coming off as creepy.
What comes to your mind when you hear Digital Marketing? Let me guess, “Expensive and doesn’t work.”
On the contrary, Digital Marketing isn’t expensive, and it works. All you need is the right strategy. Once you have the right strategy, Digital Marketing will work for you.
What exactly is Digital Marketing?
Put simply, any form of marketing you see through digital channels (social media and websites) is Digital Marketing.
Digital Marketing is powerful! Once you can harness that power, your business will grow very fast. In this post, you will learn how to use Digital Marketing to get anyone to pay for your services.
The Power of Digital Marketing
Any type of business can benefit from digital marketing by getting access to a broader market. You can target a specific audience and measure your results. Unlike traditional marketing, it gives you the power of control over your marketing and resources.
Let’s take a brief look at the powers of digital marketing:
With digital marketing, your business gets better exposure, which will lead to an increase in sales and profit.
Access to word of mouth.
We all want to buy products that we are sure of. That is where word of mouth comes in. Now, it is easy to go to an online store and check their reviews before you make a purchase decision. It wasn’t like that before; it was tough to get word of mouth from other buyers. Digital marketing has made it easier to access different customers to ease your purchase decision.
According to Nielsen, 84 percent of the consumers completely trust the recommendations they get from their family and friends
With Digital Marketing, you can personalize all your marketing to fit your target audience.
According to Accenture, 75% of consumers are more likely to buy from retailers that recognizes them, remembers them, and offer relevant recommendations.
Unlike traditional marketing, you can track and measure your results with Digital Marketing. That means you can measure your marketing to see which one does well and which one doesn’t. That means higher conversation and less money.
Unlike traditional marketing, Digital Marketing is affordable and accessible to most business owners.
I’m sure you must have seen the power of Digital Marketing a million and one times, but you’re still convinced that it doesn’t work, or maybe, not for you.
The truth is Digital Marketing will never work for you until you learn to harness its power. And how do you make the power of Digital Marketing work for you? Strategy.
Digital Marketing Strategy
Without a good strategy, your Digital Marketing is as good useless because it won’t work.
Practicing Digital Marketing without a plan or strategy is like driving a car without an idea of where you’re going – you’ll keep wandering and going in circles because you don’t even know where you’re going.
Does your organization have a defined Digital Marketing strategy?
We ran a poll to see how businesses use Digital Marketing strategies. The result shows that about 20% of businesses don’t use Digital Marketing; about 35% of businesses use Digital Marketing without a clear digital strategy; only about 45% uses Digital Marketing with a defined digital strategy.
Why you need a Digital Marketing strategy?
You are directionless.
Most businesses without a digital strategy don’t have a clear goal of what they want to achieve in gaining new customers and building deeper relationships with the existing ones.
If you don’t have a clear goal for your business, then there is a high chance that your business won’t grow as much.
You don’t know your online audience.
Most businesses don’t even know the first thing about their audience. They target everyone and lose money in the long run. With a good Digital Marketing strategy, you can address the problem and get to know your online customers, their pain points, and how you can help them.
You don’t have enough resources.
You don’t want to waste your resources on something that doesn’t work, especially when you don’t have enough. Without a clearly-defined Digital Marketing plan, you will be spending lots of money that doesn’t work, making it very difficult for you to grow your business.
You’re wasting money on things that don’t matter.
Digital Marketing isn’t as hard as it seems, and it isn’t expensive.
Most businesses waste so much money because they don’t even know the first thing about Digital Marketing and how it works. So they purchase different tools and use various agencies for tasks that don’t need that much energy.
With a clear digital strategy, you will be clear on where to focus your attention and where not. Even if you have sufficient funds, it is not advisable to waste it over something that doesn’t benefit your business.
You don’t have a clear online customer value proposition.
A clear online customer value proposition tailored to fit your different buyer personas will help you personalize your online services to engage new and existing customers, and encourage them to stay loyal.
Creating a content marketing strategy is the key to getting a compelling online customer value proposition since content is what keeps your audience glued to your brand.
In case you want to learn more about customer value proposition, here are some of the best examples of customer value proposition.
Developing a Digital Marketing Strategy
I can understand why most business owners just practice Digital Marketing without a strategy – the concept “Digital Marketing Strategy” seems complex.
When I first started my journey with Digital Marketing, it seemed so confusing. It took lots of research to realize that Digital Marketing Strategy revolved around four simple things: Attention, Interest, Desire, and Action.
Once you understand these four simple terms and apply them, you will create a Digital Marketing strategy that will grow your business in no time.
But before we dive deep into these four terms, let’s talk about developing a Digital Marketing Strategy.
Developing a Digital Strategy is the most important part of the Digital Marketing journey because if your plan isn’t good enough, the whole marketing will not work.
Before developing your strategy, you have to set the groundwork and be ready for some calculation.
- Identify your company’s current revenue and goals
- Identify your company’s budget for marketing and your marketing goals
- Determine how many leads and sales you need to reach your company’s revenue goals
- Calculate your deal size and win or loss rate
Once you’ve succeeded in setting the groundwork, the next thing you need to do is to be honest with yourself.
For this next step, you should involve your employees or partners for more clarity.
- What are my short-term and long-term goals?
- What were my significant accomplishments the previous year?
- How am I better than my competitors?
- What was my biggest setback the last year?
- What are my target audience’s challenges or pain points?
- How did my marketing work in the past?
After you’ve been able to answer these questions honestly, the next step is reviewing.
- Review your target audience and personas
- Review your company’s goals
- Check your sales and marketing approach
- Review any new marketing objectives and opportunities
- Review your marketing budget
After this step, you are already one step away from developing your Digital Strategy.
This is where those four terms (Attention, Interest, Desire, and Action) we talked about earlier comes in. For your strategy to work, it has to revolve around those four terms.
ATTENTION: Creating Regular, Relevant Content
I’m going to imagine you are here because you are looking for ways to increase your sales. So we can both agree that you need to attract the attention of your customers before they convert to sales.
“If you are not attracting enough people, then you won’t make enough sales.”
Creating relevant content is a great way to attract new leads to your business. To create relevant content, you need to have a content marketing strategy that will serve as a road map or guide.
Consistency is important; once you start publishing more content, you will attract more leads.
INTEREST: Connecting with your online audience
You’ve gotten their attention, what next? You keep them.
A foolproof method to ensure your new leads get interested in your business is by connecting with them on social media.
Find out what social media channel your target audiences are using and use it. Focus on sharing relevant information that will keep them engaged. You need to have a social strategy that will serve as a guide, so you don’t get overwhelmed or confused.
DESIRE: Offer something relevant
Now you have their attention and interest; the next thing is to give them something they will never resist – free.
I know you’re wondering: “Why free? I’m trying to make sales.”
No one resists free, and that is what you’re going to use to your advantage. Offer something relevant and get something in return (maybe email), once you do that, you would connect with them on a more personal level and get them to pay for your services.
ACTION: Convert them to sales
You’ve finally gotten their attention, interest, and desire; the next thing is to get them to act (purchase).
Your job isn’t done when you offer them something relevant; your job just began. The mistake most business owners make is skipping this last step. 50% of leads will not purchase without a push – the push is this step.
You have to keep nurturing your leads with more relevant content and compelling messages. The point of this last step is to make your leads trust you enough to make a purchase.
Once you have been able to get your strategy to focus on these four terms, then your plan is good to go. However, you need to understand that your business’s growth doesn’t rely on only having a good strategy; you need to have a good product and charge right.
Most business owners don’t know what to charge – they either charge too high or too low. Understanding the right amount to charge for your business goes a long way in the growth of your business.
How much should you be charging?
One of the most challenging decisions you have to make is getting the right price for your services/product. If you charge too high, you will lose customers; and if you charge too little, you might not earn as much, which will cost you your business.
How do you determine the best price for your product or service?
1. What are your competitors charging?
You need to research your competitors carefully and what they are charging. You mustn’t overcharge, but charge something reasonable that makes your brand competitive.
2. What is your pricing method?
If your business offers services, you have to decide whether you will be using a project-based or hourly fee.
If you’re charging by the hour, it might seem like you’re charging higher. It is best to integrate both the project-based and hourly fees for a while to see what works best for you.
How to charge more for your services
1. Identify your target market.
It’s a no-brainer: not everyone can afford expensive services, and that’s fine. If you want to charge more for your services, you need to focus on people that can pay high.
2. Limit your buyer’s choice
When you give your customers too much to choose from, it confuses them. If you want to charge more, focus on one or two products, and market it to your audience. You don’t have to offer everything to make a profit.
3. Make your product look beautiful.
Seeing is believing! When your product looks beautiful and well-packaged, people are more attracted to it. It’s not about what you’re selling; it’s about how you’re selling it.
4. Provide social proof
If you want to charge high, you need to provide value. Most people will buy a product because they’ve seen someone close to them use it. If you want to charge high, you need to prove that your product/service helped other people.
We’ve been talking about getting customers and increasing sales, but our discussion won’t be complete until we talk about the highest price – how to win customers from your competitors.
It’s no joke that your competitors might have more customers than you, and that’s fine. You need to understand how to win customers from your competitors because, in the end, it’s survival of the fittest.
How to win your competitor’s customers
Customers will switch businesses and brands if they see real value; all you need to do is to give them a solid reason to choose your business over that of your competitors.
Here are five steps to help you win (steal) your next customer.
Create brand loyalty
Everyone wants to be part of a story – it’s a fact. Inviting customers to become part of your brand can be a big catch. Customers want to be part of a brand that provides great services, value their customers and competitors’ customers too.
Lower your price
It’s a no-brainer: everyone wants cheaper! Offering quality products or services for less price is an effective way to attract new customers. However, you shouldn’t charge too low. Too low prices can be perceived as inferior, and you don’t want that.
“Charge lesser than your competitors, but not too low that it devalues your brand.”
Research your competitors’ customers
You can’t ask someone you know nothing about to pay you for your services – it doesn’t work that way. If you want to win your competitors’ customers, you have to do some research about them. Understand everything about them before trying to win them over.
Identify their problems
Everyone has a problem they need solutions to; that’s what makes them customers in the first place.
When it comes to winning a competitors’ customer, it’s all about convincing them. Once you’ve identified their problems, it’s time to get them on a call and emphasize their problems.
… And what will that do?
First, it will make them trust you because when you identify their problems, they immediately see you as an expert who has done their research well. Once you’ve gotten to the stage when they begin to trust you, the rest will be easy.
Show off your solution.
Okay, we know you have identified our problems, but what next?
It’s not enough to just identify and emphasize their problems; you need to show them your solution.
Show them how your products can help their lives get better. Show off how exactly your products are faster, less expensive, or easier to use.
If you’re able to scale through this step, you are one step away from getting a new customer, which is “getting them to pay.”
Get them to pay
Most people get to show off their solution, and boom, they’ve gotten the customer, but it’s not always like that.
Most times, even if you have a great solution, most customers are still scared to go with you because they are used to their current vendor and are afraid of change because they have put in so much time, effort, and money.
It is up to you to convince them that there are so many benefits in switching to your product, and it is worth the investment.
If you’re able to convince them, you will get them to pay for your services.
Nothing is as fulfilling as seeing your business grow and getting people to acknowledge and pay for your services.
The steps in this guide are not the easiest to follow, but if you follow them, you will increase your sales and grow your business.