Are you stuck in a cycle of trying and failing?
Does it seem like whatever you are doing, it is not working out?
When it comes to the world of business, when old methods stop working, the majority of the market will not change the way they do things. Instead, they are likely to stick to what they are previously doing – only to do it more often and more intensely.
Most businesses have a herd-like mentality that prevents them from doing some different when what they are currently doing does not work.
Others may be too reluctant to change, out of comfort, pride and stubbornness.
If you stick to using the same tactics as your competitors in the industry, it will be very challenging to surpass them. You might end up on the losing end. After all, everyone is saying the same thing and making the same proposals – how are you doing to distinguish yourself from them?
You need to know what is not working.
Why Is it Not Working?
In order to think creatively and find a solution to make your identity more special, here are a few questions you can ask yourself to determine what methods are currently working and what are not:
- Which business are you in currently?
- How is the current market for your business?
- What methods are you using to reach out to the market?
- Are there any other ways you can access the market?
- What kinds of products and services do you sell?
- Are there any additional products or services that you can offer?
- What is the quantity you can produce?
- Who would you contact if you needed to outsource your production?
- Who else is reaching out to your target audience?
- What is the lifetime value or marginal net worth of the product or service that you are selling?
Oftentimes, many people’s knowledge is tailored to only one specific industry – the one that they have the most experience in.
But throughout the many different industries that are present, some business methods remain the most effective. It is time to narrow down on what is ineffective, what went wrong, and how can you change it.
You need to have funnel vision, not tunnel vision.
It is important to have exposure to other industries. You can learn a lot from the way they carry out things, such as the business strategies they adopt which you can also adapt for yourself. How do these industries or businesses succeed and thrive? Analyse their methods and tactics, then break them down into different components.
An easy way to do some investigative marketing is to engage your clients and ask them about their businesses. You can exchange information with questions such as:
- What business strategies do you employ?
- In what ways does your business market or sell your products?
- Who is your target audience?
- What selling system do you employ?
- Are your methods the norm in your industry?
- Did you change any of your methods recently?
In this aspect, focus more on your business model, rather than your clients’ willingness to purchase. Is your business model optimised?
The problem with many companies is not partnering with proper experts to implement and optimise for opportunities. Some companies might not be opened to partnerships at all.
While a solo independent stance may be remarkable and respectable, it leaves many other opportunities on the table.
You cannot achieve great things by yourself.
You need many other non-tangible assets, such as leverage, partnerships, connections.
You need to have partners to embark on a joint venture together (more on that in a while).
Companies find themselves stuck for a variety of reasons, but the most common scenario is a mismatch of expectations and results.
Some marketing channels might not be working out.
Some marketing channels might be bleeding more money than recuperating leads.
If you are not getting results you feel proud of, and it probably feels pretty overwhelming at times.
Digital marketing may be unfamiliar for many.
And many avoid it just because it’s unfamiliar.
To make yourself more comfortable with the idea, seek out consultants to understand the bigger picture. Learn a few basic digital marketing concepts will ease the fear of the unknown and give you the confidence to at least try a smaller-scale test. You can find so much information online. You can even find out more information from our other blog articles, such as our Complete Guide to Understanding SEO.
The world of digital marketing is becoming increasingly complex, making it nearly impossible to do half-heartedly. More often than not, you are better off passing this responsibility and task to a team of experienced marketers.
It saves you time and money.
Digital marketing is in a constant state of change, requiring marketers to learn, research and adjust their strategies on a continual basis. Passing the duty off, but monitoring the progress saves you the time of learning and the pain of making mistakes.
Hiring external help also allows companies to dip their toes in the digital marketing waters without committing to a lengthy contract or overpaying for an employee or intern.
Many variables play a part in a successful digital marketing campaign, with content being one of the most important.
You are competing against not only other advertisers in the digital space.
Creating engaging and quality content is key to cutting through the noise and capturing your desired audience’s attention.
You need to educate your consumers.
Not only do you have to convince your customers that they need to buy your product, you need to convince them that your product is the solution to their problems.
Convince your clients with content, rather than options.
Some businesses often bombard their consumers with many choices, yet the results are not stellar. Often times, this is because they do not understand how to tap into the mechanisms of the buying process. The important aspect of the buying process is information, rather than choices.
Having too many choices available for your clients can increase the length of their buying process. This, in turn, decreases buyer momentum and increases the chance of buyer’s remorse. Your customers, at your digital store, might ponder and hesitate more.
They might be on the fence but remain unconvinced or confused about your product, due to the lack of content and information. This is why content is important, not just regular content, but engaging content that makes that reader want to know more and learn more.
Time for A Change
You need to change.
Nothing in life is permanent. Everything is changing all the time. And the more you resist, the more you cling, the more you struggle against reality, the more you are going to suffer.
The reality is most of what happens in life is out of your control.
And in attempting to change, force, or manipulate your circumstances to meet your ideals, you’re setting yourself up for a lifetime of disappointment.
Be open to change. Allow things to fall away. Trust that things will unfold as they are supposed to.
So, stop getting in your own way.
If you let your fears dictate your choices, if you let external opinions govern your actions, and if you let negative thoughts influence your beliefs, you’ll end up settling for what’s comfortable for you instead of what’s best for you.
Change is scary and uncomfortable, but change is also inevitable.
Here is how you can get yourself unstuck.
Embark on Joint Ventures
Building connections with other businesspeople will be particularly helpful when you encounter issues in your business. After all, these people have already overcome such problems before.
Whether it’s people who have the sufficient resources to help, people who can provide answers to your problems or people who are more specialized in an area or task, having such connections is key to solving your business-related issues.
Other companies might be opened to partnership but are ill-fated and end up partnering with the wrong type of partner.
In order to get remarkable results, you’ll need specialised expertise, whether in-house or through a partnership with an outside consultant or agency. Learn to leverage on such partnerships.
Here are some questions you should ask your agency or partners, to make sure you’re working with someone with real expertise, not someone who is fumbling through things at your expense.
- What tactics does your agency use to drive results with marketing automation?
- What do typical results look like for your marketing automation clients?
- Describe the specific improvements your clients experience as a result of marketing.
- What are the most common issues your clients run into when implementing marketing?
- How long has your team been working with marketing?
- How many active clients do you have?
- Are you getting good results with your marketing strategy? Can I see the data?
These are common questions that we receive when we engage our clients. For example, at The Leading Solution, we have a wide range of clients from different industries. We show them our portfolio for digital marketing services to share more about our services and client’s experiences.
Train Your Employees
You need to value add to your employees before they are inspired to value add to your lives.
Commonly, salespeople are hired on commission, then left to their own devices. However, while it is the most common tactic, it is not necessarily the most efficient or effective. Instead, consider matching your employees with what best suits their skillsets, then tune the job for maximum productivity.
So next time you have a project, break it down into different areas and arrange for whoever fits each task best to oversee it.
If you are a small firm or simply lack the time and resources to assign tasks to your employees, you need to consider other solutions.
After all, overworking an employee is the last thing you want to do as a business owner. The cost of hiring a new employee may also be high. It is a lengthy and costly process that might not be the best use of your time, especially in busy periods when the company is flooded with projects and meetings.
Hence, in such situations, it is important to consider outsourcing ad-hoc projects or seasonal marketing campaigns to external firms. Having a firm work for you carries the benefits of having a team of employees work for you. However, in the short run, it is also much cheaper as you do not need to be concerned with the onboarding process of hiring a new employee, or cater to their employee benefits.
Care for Your Customers
Putting your business strategies through rigorous testing and get feedback from your customers. Find out how they feel about your products and company. Be systematic in gathering relevant information like these, as it is important to have a reliable form of information gathering for you to analyse and interpret the data too.
Then, review your ideas and expand on them.
Adjust them so that they can be implemented or continue refining them until they are perfect. Letting the idea rest means allowing all the possible points to flow through your mind. Afterwards, put it aside and allow your subconscious mind to work on it. Write down any new ideas that arise then.
Engage With Your Customers
Apart from caring for your customers, you need to go one step further and engage with them.
Then, how should you engage with customers?
One such way is to have regular check-in points with your customers.
Following up and following through with what you promise your clients is vital when it concerns sales. You want your customers to feel connected to your brand and that starts with them feeling connected to you – the face of your brand.
In any line of work, it is important that the customer or client feels respected and engaged. No one likes feeling like a single name in the long name of prospects. Everyone appreciates the human element. Each customer is important to your company’s success, and your company’s working should reflect that.
Every client would be unique, in their purchase volume, history with your company, loyalty level and interest level. It pays to know these details to the best of your ability. This can give you the required information on how you should market your product based on customer tiers and also, prove your understanding of your business workings, right down to the customer’s taste and preferences.
You want your customers to feel engaged. And that starts with you being engaged in their involvement with your brand and company.
This aspect extends to your company’s employees too. In a sense, all employees are representative of your brand. Rather than just building the perfect customer-company relationship, you want to optimise and leverage this relationship.
You want to build a community around your brand, fuelled by your customer base. When you have a community of individuals who share the same supportive view of your company and/or product, you will have had successfully integrated customers into your brand through community-based marketing.
An organic system of word-of-mouth referrals will help bring you a recurring source of business leads and returning
This is what you strive to achieve and many brands have centred their marketing strategy around this. Examples may include the global juggernaut Apple, small self-funded company YNAB’s referral affiliate program and Adidas’ multiple marketing campaigns.
Set Realistic Goals and Expectations
Before beginning any marketing campaign, it is important to set realistic expectations and goals for what you’re hoping to accomplish. Unfortunately, it is very rare that a digital marketing campaign is successful right out of the gate. I have seen far too many companies stop their campaigns prematurely.
It is important to understand that most of the initial testing is done solely to build target audiences and other key metrics before even going for an actual sale. The modern digital marketer is testing hundreds and sometimes thousands of ad groups, looking to hit that sweet spot of cost, impressions, and engagement, which doesn’t happen overnight.
In the beginning stages of a campaign, it is necessary to primarily focus on key performance indicators (KPIs) rather than return on investment (ROI). A successful campaign requires a strong foundation before it can be expected to generate sales.
Use data from your previous marketing efforts to set a baseline of comparison and educate yourself on the process to keep your goals clear and attainable.
Understand the Need to Delegate
Why Is It Important to delegate?
As a leader, delegating is important because you can’t—and shouldn’t—do everything yourself.
Delegating empowers your team, builds trust, and assists with professional development. And for leaders, it helps you learn how to identify who is best suited to tackle tasks or projects. This allows you to bring them up the corporate ladder as more of your employees are becoming more capable of completing task.
Delegating allows you to build reliability within your organisation and your team. Assign responsibility and authority to someone else in order to complete the task at hand. You pass the responsibility of the task away while retaining the responsibility of the project’s success.
For some tasks, delegating to an external team is more suitable than taking on the task yourself. Having a third party or an outside eye can help you view things from a neutral and unbiased perspective.
This is very true for digital marketing purposes, as you require a renewal of strategies and analysis of the situation periodically.
Having someone help you with that can allow you to witness the cracks in your marketing strategy or allow you to allocate your resources more effectively. For example, we once helped a client secure $25,000 worth of traffic each month, substituting the cost of advertisements with time and Search Engine Optimisation efforts.
Time can be a valueable substitute for monetary cost. But it shouldn’t be your time that you substitute for. Time is precious.
In terms of time, outsourcing is a better way to make use of your limited resources. It allows you to focus more on the issues that require more of your attention, such as managing clients, employees and your company. You get to do things more productively and have more time for strategic thinking.
When you hire us as your digital marketing consultant, you can expect to see up to an additional $500-$1000 worth of traffic for you to convert into leads.
Through periodic updates, we provide statistical analysis to find ways to optimise and improve your business model and digital footprint. You can have a look at our portfolio for more information.
Adopt Long Term Thinking
Achieving great things does not happen overnight.
It takes time and requires patience.
The short term makes it possible to achieve small, rewarding and flattering successes. These small, easy successes are a trap to avoid. They flatter your ego but will not allow you to achieve great and lasting success.
Competition is tough for those who prefer to play the short-term game.
Thrive for the long-term approach. Your patience and resilience along the way will allow you to make the difference over the competition. Build and employ your marketing campaigns strategically, but patiently. Attempting to artificially speed up the process could cause you to miss a few steps and fall flat on your face.
You want to have a stable foundation to rely upon.
Adopt a long-term approach in your strategies. Take time to build stable marketing channels which can gain you recurring revenue and leads.
The same goes for your strategic partnerships. Aim to work with companies for the long term. That is the best way to build a stable and pleasant working experience with your partnered firms and individuals. Having a firm or team that understands your requirements, needs and working style saves you much trouble and time.
Be Daring, Be Scared
You need information like key metrics to help you navigate your way to success. Whether it’s aiming for a greater number of conversions compared to just a greater conversion rate, or developing an understanding for your client’s purposes, having sufficient information is vital for a successful business.
Information allows you to understand the buying process of your clients can help you increase your number of transactions. It pays to be prepared.
However, many make the mistake of being overly cautious of the unknown.
Being fearful of mistakes often prevents you from moving forward. It is important to move swiftly but safely, and one reason you should not be afraid of your mistakes is because trying out everything is the only way to determine what method best suits your needs.
The mistakes you make are then simply lessons to help you determine the right path to take.
Be prepared to the best which you can. But do not be fearful if you are not.