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Is your digital strategy working?
If you're like most founders, you jumped head-first into the digital world and never asked yourself that question. After all, you can see your metrics in Google Analytics and track how much money your online ad campaigns are generating.
But that doesn't mean you're actually growing your business.
Just because your website is up and running doesn't mean you're doing things the right way.
There are many warning signs that your strategy may be sucking.
Lucky for you, we're here to help.
Keep reading to learn 9 signs your digital business strategy sucks, and how to fix it.
Personalization plays a crucial role in modern marketing.
Roughly 8 out of 10 customers would rather deal with a company that personalizes their experiences.
An even more surprising study reveals that 83% of the American public is willing to share their data to receive personalized content.
What does this mean for you?
If you're still using a cookie-cutter approach, you're likely losing customers and money.
In other words, personalizing your campaigns is no longer an option, but a requirement.
Linear funnels used to work great.
With the rise of multi-channel marketing and inbound strategies, it's all about creating a non-linear customer journey.
For instance, roughly 60% of B2B tech buyers read anywhere from two to five content pieces before purchasing.
And 8 out of 10 digital shoppers use their smartphones to research products when buying at a local store.
Today's customers aren't using a funnel the way it was originally intended. They're skipping steps and jumping from one channel to another.
This change in customers' behavior requires a change in your approach. You must provide a multi-channel experience that meets your customers where they are.
For instance, don't force your customers to go from article to article, video to video, and social post to social post.
Instead, strategically place content throughout your entire customer journey, helping them solve specific pain points at each stage.
This will help you generate more leads, increase sales, and bolster customer retention.
Your analytics are a gateway to understanding your customers.
Specifically, Google Analytics is one of the most powerful ways of gaining insights about your website visitors.
But here's the thing…
If you're not tracking the right metrics, your data is useless.
For example, you may have a high number of website visitors.
But the more you dive into your Google Analytics data, the more questions you have.
If you track the wrong metrics, you'll end up with the wrong results.
Marketing is like dating. It's all about meeting your customer in their “world.” And to do that, you must connect with them across the channels they engage in.
Today's best marketing strategies are data-driven and highly personalized. For example, the average marketing team sends up to 41 targeted emails per week.
On top of that, 47% of B2B customers learn about a company through online channels, like email and social media.
The devices your customers use to search for products and services largely determine which marketing channels you should be using.
For example, if your customers search on their mobile device, you need to be present in the places they're searching.
Or, say that most of your target prospects use LinkedIn for professional purposes. In this case, you should create custom content that targets this audience on LinkedIn's publishing platform.
The point is, every customer has a preferred communication channel. To generate leads and connect with customers, you need to know where they're spending their time.
In today's world, marketing and customer service are inextricably linked.
Customers expect your brand to be readily available across all customer touchpoints, including email, phone, social media, and your website.
If you fail to meet customer expectations, they'll take their business (and positive word of mouth) somewhere else.
Customers are impatient.
And if you can't demonstrate value quickly, they'll move on to your competitors.
If you offer a free trial, make sure your customers can see the benefits right away.
If you're not providing quick wins, your customers are getting frustrated. And once they get frustrated, they'll start to consider other options.
Business today is about staying relevant. It's not just about the bottom line.
Customer expectations are rising every day, and if you want to stay in business, then your product or service has to keep up.
You need to think long-term.
Instead of chasing the quick buck, you need to build a business that can outlast any market shift or economic downturn.
Many CEOs focus too much on revenue growth, and they forget to plan for the long-term future of their company.
If you want your digital business strategy to work, you have to think beyond the next six months. You need a long-term vision that's going to carry your company forward.
Instead of thinking about how to attract more customers, you should be thinking about how to increase your retention rate.
Instead of focusing on how to generate more revenue, you should be thinking about how to increase your customer lifetime value.
Instead of constantly adding new features or services for customers, you should be thinking about how to increase product stickiness.
The bottom line is that you need to think long-term, or else your business will be outdated in just a few short years.
Your business is only as good as its product. And if your product doesn't align with your customer's needs, then you're not going to succeed. Period.
If you don't know what your customers want, you can't make the right decisions.
It doesn't matter how you acquire new customers. If your product or service isn't solving their problems, then they're not going to stick around.
And if you want your digital business strategy to be successful, then you need to understand your customers inside and out.
Knowing your customers at this level takes time, research, and effort. But the payoff is huge.
Most founders don't know the answer to these questions.
They say things like “Customers choose us because of our unique products” or “We have loyal customers because of our fantastic service.”
These are empty words. Talk is cheap.
If you want to build a world-class digital business strategy, you need to know why customers choose your product or service.
What is your true differentiation?
Why do customers choose you over your competitors?
If you can't answer these questions, then it's time to go back to the drawing board and figure it out.
Take an honest look at your company, and consider whether you're doing enough to keep your customers happy.
Spend some time talking to your customers. Listen to what they have to say. Put yourself in their shoes, and figure out why they stick with you.
If you do figure it out, you'll find valuable insights to help you grow.
If you do these things, then not only will you understand your customers better, but you'll also discover the factors that contribute to your company's growth.
If you want a solid digital strategy, it's time to get a handle on the fundamentals.
If you don't know what your “why” is, you'll never be able to motivate employees, build a compelling brand, or solve problems.
If you don't know why your customers choose you, then it's impossible to keep them happy.
And if you don't know what your customers want, then you can never make the right decisions.
Read the previous points again and see if any apply to you. If any of them do, take a step back and fix these problems.
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