There unfortunately isn’t a “one sentence” response to creating a successful digital marketing campaign but if we had to sum it up;
A successful digital marketing campaign identifies the culture of the target market, then adapts lead generation techniques to culture specific psychology driven interactions.
Your digital marketing strategy is crafted by evaluating and re-adjusting your market approach/sales triggers to create a positive experience the potential buyer has when introduced to your product/service for the first, second and third time.
The Digital Culture
Growth occurs through persistence and sacrifice, human sweat equity and financial, but this will only take a business so far. Sacrifice only has two paths, it either leads to the demise of the business or to reward. Your threshold for pain and perseverance is often the key factor in which path a business will take. Just when you think you started to make it, early success often begins to limit activity as tasking and costs increase over available resources. If you can stay the course, eventually sacrifice will transition to reward. As your company grows additional resources are required to continue growth outside that of the momentum team – if you want to continue to grow within the digital market, you have to outspend and out market, that requires a smarter and more strategic use your resources. Understanding the digital market is the first step in knowing how to allocate your resources.
Your site is a primary tool but only if people know how to find it – we’ll assume they do.
1 in 10 site visits are qualified buyers. If you could successfully close that 1 buyer 100% of the time you would be a digital marketing genius. The first step to genius is to acknowledge the math. Look at your numbers; how many site visits to the average sale? If you’re at 10% you simply need more site visitors, if you’re like most of us you’re well under 1%. It’s time to start planning your digital marketing strategy.
If 10 people visited your site they all have at least one thing in common, they knew at minimum the name of your company and had a vague idea of what you did. That’s called a soft lead. We can then assume that 1/3 of them are interested because they landed on a page that somewhat described your product/service because you did an ok job, at minimum, in creating your website content. These are then leads. The final stage is getting them qualified. If you had 3 potential buyers standing in front of you right now, what’s your close rate to product/service delivery? This is where the math gets fuzzy. Someone might really need your solution, but they don’t have the capital, they are not the decision maker, they don’t like the color, or they are simply curious. From lead to buy is difficult enough when face to face, to accomplish this goal in the digital space substantially compounds the difficulty.
1 to 1 outside of the digital world we can fairly well interpret a buyer’s body language, tone of voice, and use a bit of human intuition to close the deal. None of these tools exist within the online digital market. Online sales are subject to the math which when leveraged can be just as advantageous to your sales numbers.
Below are the common “response” triggers for digital content interaction based on 5 primary buying personality types;
Aggressive (wants to “buy now”). This buyer doesn’t need or want human interaction most of the time. They already know what they want and want it now. The only way to mess up this sale is to get in their way. The math shows that about 8% of buyers, and growing rapidly due to millennial buying habits, already have their minds made up before they begin looking. In the digital market the best resources for this digital buyer is direct purchase information. Being upfront with pricing and where to buy has the potential to close almost 10% of your qualified leads.
Curious (interested – not ready to buy). The largest portion of potential leads fall into the just curious math at over 29%. That’s about 1/3 of all your qualified leads are simply just browsing. They might have need for your product but that need isn’t yet a priority. These digital customers need a push in the right direction through the placement of creative content triggers. A simple trigger might be a discount or a 3rd party testimonial. Landing pages that provide testimonials and discounts reduce abandoned shopping carts by over 50%.
Social (trend based buying habits). What would a digital marketing strategy be without accounting for the majority of digital buyers, millennials, and their top buying trend; social influence. What others think about your brand, product, and/or service does matter. These new generation buyers what to see your socially active in a positive manner and they will share your content with others when the content is entertaining and promotes their interests. Digital content numbers tell us that images increase sales by 18% and video by over 31%. It’s difficult to gage your social digital buyers without a plan in place but even without one you can expect over 10% of your buys to come from social media and up to over 80% with a social media strategy in play.
Browser (you would think curious and browser are the same – but both very specific when it comes to buying trends – a browser is why they put penny items at the checkout counter). A digital browser is rarely considered qualified and outside of the digital world you wouldn’t want to spend too much time trying to convert them. However digital online loitering has a specific advantage. 3rd party content referrals. If you find that your site gets a good percentage of digital strolling you can direct that traffic to similar market products/services that are willing to share their traffic as well. A little less than 15% of your traffic falls into the browser category.
Mixed (easy to gage with 2 or more clicks). Though a vague category this type of digital traffic accounts for over 45% off all site traffic. How well your web space defines your product/service will greatly influence how well you convert this traffic to sales. The basics are essential such as a professional informative landing pages, industry driven content that expresses your brand as a recognized market leader, and direct contact resources to real humans is an essential part of converting this mixed digital audience.
With a less than 1% conversion rate at an estimated cost per site visitor of $4.61(traditional digital marketing costs), that translates to a total cost per client of approximately $461. Realistically your experiencing a .5% or less conversation rate now. If you could just increase your conversion to 5% that drops your cost down to under $100. Now you see why the math is so important.
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