In the years before the global pandemic, a digital-first strategy was a nice-to-have and forward-thinking approach for many companies. Today’s it’s a necessity for companies that want to not only survive but thrive. It’s estimated that digital transformation fast-forwarded by 7-10 years in just the past two years. The digital landscape is where your customers are and where they are making purchasing decisions.
Here are four key components of an effective digital-first effort that can help maximize your company’s ROI in the digital realm:
The digital landscape is vast. You need to be able to reach current and potential customers in the digital locations that are best for your brand and where it can stand out. That used to be the walled gardens of Amazon, Google and Facebook.
Chances are, your customers are spending more time on up-and-coming social networks like TikTok, tuning into influencers and micro-influencers and spending time on deals/review websites looking for discounts and other information. They’re out on the open web. At SourceKnowledge, we can help you reach potential customers on deal, coupon, influencer and review websites. We can help get people thinking about and purchasing your products.
Once the journey from product awareness to purchase was fairly straightforward. Today it’s full of zigs and zags, stops and starts. Identifying all the stops along the way to a purchase can help you make sure you’re maximizing your online marketing dollars in a way that makes the most sense for your brand.
It’s a fact: Personalized marketing matters more than it ever has, and generic marketing messages can hobble your company’s growth and success. Accenture research has found that 91% of consumers are more likely to shop with brands that recognize, remember, and provide them with relevant offers and recommendations.
McKinsey research shows that 71% of consumers expect companies to deliver personalized interactions and that 76% of consumers with that expectation get frustrated when they don’t feel a company is making the effort. Ultimately, McKinsey found that the fastest-growing companies leverage personalization in their marketing strategies.
One statistic underscores both the importance of personalization and the opportunity for businesses that make it a priority. In the McKinsey report, 75% of consumers switched to a new store, product or payment method during the pandemic. The takeaway: If your business isn’t providing what consumers want, there are plenty of places for them to go elsewhere to get it. The good news is that there are many more tools available now than ever before to help e-commerce businesses abandon those generic marketing messages for good.
Mobile devices account for three out of every four dollars spent online. More than half of all web traffic originates from mobile devices. Yet many e-commerce companies remain not fully optimized for mobile, causing customer frustration and other issues. Companies need to make sure their marketing efforts have a mobile-first focus, with easy navigation, stellar search capabilities and one that doesn’t simply mirror your desktop presentation. It needs to be entertaining, add value to your customers’ lives and you need to test it with real-live customers and monitor feedback to make sure it provides a great user experience.
There’s a 60%-70% chance that marketing to a satisfied customer will be successful, while the probability of converting a new customer is much lower, 5%-20%. The good news is that there are more AI-based and other technology tools to target and retarget existing customers and foster customer loyalty than ever before. Make sure you’re using these tools to not only provide a personalized approach but one that resonates with your customer base and keeps them coming back to your company, time and time again.
At SourceKnowledge, we can help your company or ad platform connect with high-converting traffic as part of a successful digital-first strategy. Learn more about our innovative and effective solutions to help grow your brand by visiting our website: https://www.sourceknowledge.com.