The era of innovation and technologies affected not only the product itself, but the way business is conducted. There are many examples of successful companies that failed because they were missing out on the right digital strategy.
For instance, try to ask any millennial about Kodak and what it does, and they will struggle to answer. Kodak was the world’s biggest film company until it filed for bankruptcy in 2012. Fearing to kill their film business, Kodak decided to focus on producing cameras for filmmaking instead of developing digital cameras for the mass market. Meanwhile, companies such as Canon, for example, grasped the opportunity and, as a result, outlived the giant. The main problem for companies like Kodak was that they missed the opportunities of the digital revolution. More than that, they misunderstood the way consumers wanted to be engaged and interact with the technologies involved. Nowadays, however, companies know that without the use of internet marketing services and constant innovation the chances to succeed decrease drastically.
But how to know what works for your business if you can’t measure the efficiency of your marketing campaign? To answer these questions, let’s review how the sales department operates. Sales agents constantly working under urgency because they need to meet the previously determined quota. The meeting or exceeding quotas is connected directly to the size of their compensation. This makes salespeople good at measuring their results and revising their strategies. There is no reason why you can’t apply this approach to use in your internet marketing campaign.
Figuring out your focus
Digital marketing services offer a wide range of tactics nowadays, so it’s easy to get confused. Strong focus on the most important objectives, those that drive sales and prove ROI (return on investment) is a key to effective internet marketing campaigns. In order to get rid of the noise and distractions, these objectives should clearly address Top of the Funnel (TOFU), Middle of the Funnel (MOFU), and Bottom of the Funnel (BOFU).
At this stage of the funnel, the majority of leads aren’t going to buy from you. They have a potential problem and searching for a way to solve it. What I mean by that is, those leads might not even know properly what your company does as they are still educating themselves. So to turn the leads into the customers, make sure your website contains high-quality content.
If the amount of visitors at this stage is insignificant, try to use the following tactics to attract them:
- Search Engine Optimization & Social Media
Once you have a good amount of leads, it still doesn’t mean they are going to buy from you. Those leads have already defined the problem clearly and are focused on researching the solutions for it. To get those leads to the next stage, continue to build trust and encourage them.
In MOFU you can use tactics like:
- Ebook offers & Webinars
By the time leads reach this stage of the funnel, they’ve already spent a significant amount of time on the research, defined the solutions, and identified several vendors. The main question is who will they buy from. Those leads are qualified and the best tactic here is to nurture them through:
- Vendor comparisons
- Case studies
- Email marketing
SMART goal setting
To use those tactics, you first need to develop measurable goals. You need to set goals that allow changing of strategy and reviewing along the way. The main point of setting measurable goals is being able to prove how effective you are and work on improvement.
However, there are several criteria that are important to follow setting your goals. Here’s how you can set SMART goals.
Be as specific as you can. Set real numbers with real deadlines. If your goal is too generic, you most probably won’t be able to achieve it.
Making your goal measurable gives you the chance to review and analyze your strategy. You can find out whether you are on the right track or not.
Of course, your goal should be challenging and empowering. But don’t set it too high. Is your goal actually reasonable? Is it something your team can accomplish? It is important to take into account any conditions or limitations.
During this step, the main point is to evaluate why the goal is important to you and your company. Also, understanding what is the benefit attached to reaching your goal will help you to see the bigger picture.
It is important that the goal is time-bounded. Coming up with a clear deadline is the final piece of SMART goals. Make sure you and your team know when the goal has to be reached.