Digital marketing is a powerful way to connect with more people who are interested in what you have to offer. Growing your business through digital marketing can help you reach your ultimate goal: more revenue.
In fact, a study by StrategyR revealed that the compound annual growth rate of digital marketing from 2020-2026 is projected at 13.9%. This means more businesses will be embracing digital marketing and reaping its benefits.
Do you really want to be left behind?
A digital marketing strategy directs your focus to certain targets, priorities, resources, and actions, usually over the long haul. These strategies enable you to achieve your primary objectives and aim for next-level growth.
Read on and learn the five strategies that will help you in growing your business through digital marketing.
5 Strategies for Growing Your Business Through Digital Marketing
Here are the top five digital marketing strategies you can use to build your business.
1. Maintain an Active Social Presence
If you want to grow your business using digital marketing, it’s important to establish a solid online presence on social media and search engines. And an active one at that.
According to recent estimates by Statista, more than 4.26 billion people used social media in 2021, which is expected to rise to nearly six billion by 2027.
When you maintain an active online presence on social media, you’ll be able to attract attention to your company without making a huge financial investment.
Sharing valuable engaging content on social media platforms like Facebook, Twitter, Instagram, and LinkedIn is a great way to gain more online exposure.
Here are a few other ways to maintain an active online presence:
- Keep up with the latest trends on social media
- Regularly update your website’s blog and share it on social media
- Create and share product demo videos
You can also put up captivating infographics that exhibit distinctive ways of establishing the relevance of your business and brand.
However, it’s important not to spread yourself too thin by joining every social media platform out there.
Stick to the channels where your target customers are most likely to be active. In doing so, you’ll be able to maximize the impact of your digital marketing efforts.
2. Recognize and Respond to all Consumer Feedback and Reviews
According to BrightLocal, more consumers are reading online reviews than ever before. In 2021, 77% of them always or regularly read them when browsing for local businesses (up from 60% in 2020).
Customer feedback and reviews are great as they can help with customer experience management. You can easily figure out what they need from their reviews and make the required improvements.
Additionally, responding to positive and negative reviews can also help you manage the perception of your business.
And that’s why you should prioritize learning how to respond to both good and negative customer feedback.
When responding to feedback, you should:
- Respond quickly
- Thank the customer for their feedback
- Acknowledge the problem that the customer experienced
- Explain how you plan to solve the problem
- Take the discussion away from social media
- Follow up with the customer after you’ve implemented the solution
A great way of collecting customer feedback before they write reviews is by using AI-powered chatbots. They can reach out to your audience and ask them for their feedback so that you can improve your chances of retaining customers and attracting new ones.
Here’s an example of a good customer review and a reply from the owner.
Reviews are also important because they give prospects the social proof they require to make a purchase.
But it can take a lot of time and tedious manual effort to solicit, compile and track all of this feedback. That is where review tools such as piHappiness, SurveySparrow, Typeform, AskNicely and SurveyMonkey come in.
You can use these tools to collect consumer feedback and reviews through online surveys.
3. Leverage Influencer Marketing
Influencer marketing is another effective way of growing your business through digital marketing.
Partnering with influencers can help drive your brand awareness, lead generation, and even sales. You can leverage this strategy by partnering with social media personalities who are right for your brand (have similar ideals, similar audience, etc.).
For example, FabFitFun partnered with Ayesha Curry, a well-known chef, as part of their influencer marketing strategy on Facebook.
To further drive the growth of your sales using influencer marketing, you can combine it with affiliate marketing where you can give a commission to your influencers for every sale they drive. This makes it a win-win situation for both parties as their revenues increase.
4. Organize Online Marketing Events/Virtual Events
Organizing online marketing events is a great way to gain exposure for your business and create interest in your products or services.
An online event is one in which people interact with others in an online setting on the web rather than meeting in person.
But there’s a catch here.
You need to identify your target audience for the events.
By targeting the right audience and at the right time, you can communicate with your prospects at every stage of the buyer’s journey.
Webinars are good examples of virtual events that are becoming increasingly popular since they make learning about a product or service easier.
A study by ON24 shows that the average webinar attendee conversion rate is 61%.
What’s more, since online events are digital, they offer a unique opportunity to collect first-party data through registrations and attendee engagement in-event and via social media. This helps you tailor your marketing messaging for them too.
Some platforms provide granular analytics into attendee engagement and experience, allowing organizers to tweak and improve experiences.
You can easily see metrics such as views, likes, clicks, impressions, and comments on the dashboard of the tools in use.
If you’re a business owner, this is yet another effective way of growing your business through digital marketing.
5. Find Out How Your Competitors are Positioning Themselves in the Market
Understanding how your competitors are positioned in the market allows you to fine-tune your business plan to counter competitive challenges and strengthen your position.
Conduct research to find out what your competitors are doing online. You can use tools such as Ahrefs, Semrush, SpyFu, BuzzSumo, or Searchmetrics to track your competitor’s digital marketing campaigns.
For instance, see how this Semrush review shows how the tool gives you a glance into your competitors’ strategy or conduct competitor research.
You can also look at their website design, social media presence, and blog to understand their strategies better.
By understanding your competition and catering to your customers’ needs, you can position yourself as a leader in your industry.
Conclusion
To recap, we’ve looked at five proven strategies for growing your business through digital marketing.
From maintaining an active social media presence to seeing and responding to reviews, there’s a lot that you need to do to give your brand the much-needed boost. Partnering with influencers and organizing online events are great tactics too.
By implementing these strategies, you’ll soon see a boost in your sales and customer interaction with you and your brand.
Have any questions about these strategies? Ask them in the comments and I’ll answer them.
The post 5 Strategies for Growing Your Business Through Digital Marketing appeared first on DigitalMarketer.
Frequently Asked Questions
What makes an entrepreneur succeed?
There are two types of entrepreneurs; those who make money and those who make time.
What makes them different is their approach to business. People who make money want to make more money. While people who make time want to make more, they are more focused on making money.
The desire to have financial freedom is what drives those who make money. Their goal, and their only goal, is to get rich and stay wealthy.
They are motivated by greed and fear. They don't really care about the longer term, as they know that their goal will bring them joy.
This type is often called a hustler. They have a focus on the bottom and are able to find ways of increasing revenue without regard to quality.
Some make time. These entrepreneurs are driven to succeed by their passion. They want to create something that is meaningful and will last forever.
Their motivation is altruistic. They are driven to achieve great things. They want to create products and services that are meaningful.
These people are often called dreamers. They are motivated by vision and inspiration. They are aware that success is hard work, persistence and dedication.
They are creative, which is the most important attribute of these entrepreneurs. They are constantly seeking out opportunities that haven't been done before.
They are attracted to the unknown. They are open to spending hours researching new topics. Because they enjoy learning new things, they are always open for new ideas.
This is why they are so adaptable to change. They will take on any challenge and get dirty. They won't accept mediocrity.
Which type of entrepreneur do you identify as? Are you driven to make it big or do you want to find meaning in life?
Congratulations if both of the questions were answered "YES", You are an entrepreneur who is successful.
Over the years, I have met many successful entrepreneurs and observed one thing: passion.
Successful entrepreneurs aren't defined by monetary wealth alone. They are defined by the impact they make.
For example, Steve Jobs was known for his philanthropic efforts but wasn't rich. He didn't even own a house until he was in his mid-40s.
His ability to make products that made a difference in the world is what brought him wealth. And this is what defines him.
Your job isn't to accumulate wealth. It's not to amass power or build empires.
Your job is building relationships with customers or partners. To build trust. To inspire others to succeed.
To make a positive impact. That's your legacy. This is not your bank account.
Let's chat if you are ready to build a legacy that will be remembered.
Social Media University will show you how to make passive income online. We'll teach you how to market your business, so it grows automatically.
How to motivate yourself as an entrepreneurial leader?
The best way to motivate yourself is to find someone else who is motivated to do what you are trying to do. Ask someone who is working hard for his goals about how they did it.
Ask for advice, listen and learn, but most importantly, be sure to follow the advice. You can emulate someone who has succeeded if you find them.
Do what it takes to be that person. Learn from them. Learn from them. Follow their example.
But above all keep pushing forward. Keep moving. Never stop learning. Never give up.
Never listen to anyone telling you that you're not capable. Don't listen to anyone who tells you there is no path.
You might fail, but it doesn't necessarily mean that you have failed. Failure can be an opportunity to learn and grow. To find out more. To push harder.
Failure is only another step on your journey to success.
Start today. Do something today that will move you closer to your dream.
Are you still waiting?
What are the types of entrepreneur motivations?
There are three main motivations for entrepreneurs. Each type of motivation has its strengths and weaknesses.
External motivation is the most common. It's where someone wants to make more money. This motivation usually stems from financial concerns.
External motivation is driven by personal interest, ambition, and desire. This type of motivation leads to people who are extremely goal-oriented.
This is a rare form of motivation. People with inner motivation are less likely to seek wealth. Instead, they aim for other goals, such as self-development or fulfillment.
People with internal motivation are often called "passionate" because they find satisfaction in their work.
Finally, intrinsic motivation is the least popular type of motivation. Intrinsic motivation refers to individuals who derive enjoyment and satisfaction from working toward a particular goal.
Intrinsic motivation is a much stronger motivator than either external or internal motivation.
Intrinsic motivation comes from within. It's based on the belief in certain talents and abilities. These abilities and talents allow them to achieve things that no one else could.
It is satisfying and fulfilling to realize our potential and talents. It makes us feel that we are doing valuable work.
In other words, intrinsic motivation is what makes us happy. Knowing that we can achieve anything we set our minds too is what makes us happy.
This feeling of accomplishment is what keeps us going through tough times.
It's a fact that if you don’t love what you’re doing, then it's not worth doing.
If you want to know more about entrepreneur motivation, click here.
What are the rewards of being an entrepreneur?
Entrepreneurship has many advantages. The first is your ability to be self-reliant. You stop relying on other people.
You are free to pursue your goals and become independent. You can also build relationships with other entrepreneurs, as you share the same challenges and interests.
You gain confidence. Entrepreneurs learn constantly. This gives you the ability and flexibility to change quickly. By thinking outside the box, you will not be trapped in a rut.
We are no longer bound to the regulations and rules that society places on us when we start our own businesses. We're free and able to decide what we do and how much we live.
We can choose either to follow the crowds or go against them. You can choose to succeed or fail. We have the option to either fail or win.
It is exhilarating. It comes with a fair amount of responsibility. Because you will be responsible for all that happens within your company when you assume this role.
Learning to manage risk is key to success. Do not be afraid to try out new things. You will eventually achieve your goal if you are willing to learn from your mistakes.
So, keep these lessons in mind when starting your journey.
Remember:
- Entrepreneurship can be a lifestyle choice.
- If you manage your own business, you are the boss.
- Be careful of following fashion trends.
- Success doesn't come in money; it comes in freedom.
- Balance your personal and professional life.
- Set clear expectations.
- Always be sincere with your team.
- Do something about it if you want things to happen.
What are 6 essential questions that entrepreneurs must ask to be motivated?
Motivation is the main ingredient of any business. You won't get out of bed each morning if you don't have motivation. If you lack motivation, it will be difficult to complete your projects. You won't be able to achieve your goals if you don't have motivation. How do you find your motivation?
It is possible to ask yourself: "What motivates me?" The answer may surprise you. You might have been asking the same question for many years. If you don't ask yourself this question, then you are missing out on one the greatest rewards of your life: the opportunity to discover your motivation.
There's nothing more motivating than discovering why you exist. This is when you realize what drives your actions. You are more clear about your purpose and it becomes more meaningful. What is your purpose? You'll be more motivated if you can figure this out.
Finding your motivation starts with looking within. Ask yourself these questions:
- What are my passions?
- What makes my heart beat faster?
- What lights me up inside?
- What gives me butterflies inside my stomach?
- What makes me feel alive and connected?
- What draws you back to your project time and again?
Once you know the answers to your questions, you will be able identify your true motivations.
You can find your motivation to get through tough times. It will help you find the strength you need. It will inspire you to work harder. You will be motivated to achieve your goals.
And if that's you, you won't stop looking for your motivation.
You might be surprised at what you find. You may be surprised at the results.
What is your biggest motivation in life and why?
Do you want to know my top motivations? Let me tell you. I find the greatest motivation in life to make people feel good about themselves. To make them feel amazing because they are. They are worthy and deserving of love.
They deserve happiness because they are.
To remind you, there is nothing more important that feeling good about yourself. Nothing. I will do what it takes to make our world better.
We feel better about ourselves and are more compassionate towards others when we feel that way. You can stop judging other people based upon superficiality, and instead see the person inside. That's really cool.
To motivate someone, it is important to let them know that they already have all they need.
While they might not realize it yet, this is why they have been struggling with something for so many years. They knew deep within that they were able to heal.
All they needed was the right environment, the right support system, and the right mindset. This was something they somehow lost sight.
Why did they lose sight? Because they were too busy trying figure out what the problem was. They were too busy trying to fix the problem, when they realized that they had all of the tools needed to solve it.
But they forgot that the true reason they couldn't solve the problem was because they didn’t know what the answer was.
This is why I remind you that you can create something entirely new. To tap into your inner genius, all you need is to learn.
The rest will fall into place once you do. You will be amazed at how simple it is to achieve your dreams.
I believe every human being is endowed with their own superpower.
We just have to learn how to use it.
Statistics
- “If you look to lead, invest at least 40% of your time managing yourself – your ethics, character, principles, purpose, motivation, and conduct. (americanexpress.com)
- Our 10 years of research also shows that 75% of mentored entrepreneurs increased their revenue, and 82% of their businesses survived the first two years. (carolroth.com)
- "If you improve by just 1% every single day, in several months, you will have improved by 100%. (carolroth.com)
- "Most of the time when people ask me about motivation, 80 percent of the time, I attribute it to gratitude. (entrepreneur.com)
- According to analysts, Johnson has high appeal in all four quadrants tracked at the multiplex: male, female, over-25 and under-25. (forbes.com)
External Links
due.com
cnbc.com
- This is the inspiring quote Jeff Bezos keeps on his fridge
- Richard Branson, a Billionaire: These are my top 10 secrets to success
entrepreneur.com
kabbage.com
How To
Are You a TRUE Entrepreneur?
True entrepreneurs are people who create value for themselves and others. He is risk-averse, he creates businesses, and he earns money.
He doesn’t wait for anyone to offer him a chance; he searches for them himself. He is a self-starter and a leader.
A true entrepreneur knows how to make decisions quickly and effectively. He sees problems clearly and solves them creatively.
His view is that there is no distinction between business and life. Entrepreneurship, to him, isn’t a job. It’s a way in which you live.
True entrepreneurs never fear failing. Failure is an essential part of being successful. True entrepreneurs are open to change and can thrive under pressure.
They strive for excellence and are unstoppable in their pursuit of success. Most importantly, they love what they do because they enjoy creating value.
They want to be able to provide a successful life for their families and build successful businesses.
Next time you are feeling unmotivated, or confused about starting your own business, think this:
"Am I a true entrepreneur?" If your answer is yes, you should take action. If the answer is no, it may be time to rethink what you are doing in your career.
