If you own a small or midsize business, whether online or bricks and mortar it’s quite likely that you’re aware of the difficulties directly related to the insane balancing act between running the business and finding the time it takes to bring awareness to the general public that you exist and what value you are offering to them.
As the world of technology continues to evolve, there will always be something new to discover in the world of advertising. It’s still necessary to learn all that you can to remain relevant within the public view without being drowned in the sea of other advertisers vying for your clients’ attention.
No matter who you are, your age or experience in the business world, you’ll find yourself either having to take the time to search for what will grow your business most efficiently or alternatively, hire employees or pay vendors to do the job. Your business exists and appeals to your clients because you fill their specific needs. You will need someone who will be well versed in the implementation of effective advertising to expand the viability of your business.
Determine Where You Are In Your Digital Awareness
Cited from an article located on The Mission, Warren Buffet and Bill Gates, (among others) are devout followers of the “5 Hour Rule”. This rule states that people (to include industry leaders) should spend at least five hours per week learning about subjects that will expand their personal knowledge base.
If you’re entering 2018 with a deficit of knowledge about what you will need to do to expand your place in your niche or market space, it’s time to begin educating yourself. The older generations possess gems of knowledge that the younger generations can learn from and integrate into their technologically savvy experiences; as well, the younger business professionals will undoubtedly have much to offer past generations who wish to continue to thrive in today’s markets.
In 2018 some things will be incredibly valuable to study and implement (by generation E – for everyone). The implementation of your advertising capabilities will be both productive and cost-effective. One of the most exciting ways to improve the coveted numbers that are so closely watched by nearly any business on earth will be by adding attention to “Client Journey Mapping”.
Client Journey Mapping addresses the fact that every business wants to provide the best possible experience for their clients. Client Journey Mapping creates a visual map that will allow a company, from the inception of the client/business relationship, to view and efficiently track the client’s experience. With time, each story will become more complex. This strategy will ensure that your business remains current regarding your client’s experiences and needs in the long term. Members of your business will also assist your business in knowing exactly when it’s time-effective to market new products and services to each [respective] client. Your clients expect that your company will remember who they are, and what their needs have been and will be.
Clients hope for an experience that will be seamless, and they would like to know that you will know when they will require specific products and or services you’re offering. What they do not want is to have to repeat themselves. Your clients expect you to remain well informed about their business needs and be prepared to take them to the necessary levels to bring them even more success and profit.
Should they find they have to take the time to repeat themselves, they may decide that this time could be better spent interviewing other possible providers. After all, your readiness to provide what they desired was why they purchased your product(s)/service(s) in the first place. Client Journey Mapping is sure to alleviate these issues.
MDG Advertising offers some current and noteworthy statistics:
- Only about 41% of marketers currently map their client’s journey in the buying process.
- 71% of those who are involved in marketing processes say that it will be important to understand the role that multiple touchpoints will play in their client’s journey and how they will experience your company.
- 89% of all higher performing firms align their roles to a client journey strategy. Higher performing companies and businesses will be 2.4 times more likely to adopt and align themselves with client journey strategies.
- If you have a business that is primarily business to business, you would like to know that 65% of your buyers would be willing to change their vendor if the vendor fails to use personalization in their communications. Those who find the right technological tools to maintain meaningful personalization will retain far more of their client base.
Other Profitable Strategy Uses to Consider in 2018:
- Content Marketing – We all know about this one; the secret with this strategy will be the ability to continue to improve on well written informative content. Combine this strategy with…
- Micro-Influencer Campaign Marketing – This is an interesting change for 2018 that works closely with social media campaigns involving influencers that have less than one hundred thousand followers. This strategy is found to have become far more effective and attractive, as opposed to high dollar ad prices that include celebrity endorsements or with followers in the hundreds of thousands or millions. The success lies in the affordability, the level of engagement and the level of trust experienced by potential clients.
- Chatbots – According to a 2017 Hubspot article, there will be two important pieces of information for which any size businesses should be keenly aware. (1.) About 55% of today’s consumers would prefer to interact with a chatbot or messaging application to solve whatever issues they may be experiencing; and (2.) 47% of current consumers will make a purchase through a chatbot application. These numbers are expected to rise during 2018.
- Artificial Intelligence (AI) – This strategy is expected to have the highest growth rate among those who will market their brands, over most other strategies during the next two year period.
- Augmented Reality (AR) – Most marketing persons are now ranking AR as one of the most exciting advertising tools to be implemented over the next three year period, globally.
There will always be a place for those who do business face to face. Just keep in mind that with multiple options in place for your clients to utilize; open doors to rich informational sources surrounding your brand and watch your company profits accelerate at a more consistent rate.
At Cogent Analytics, we never stop looking for ways to improve your business and neither should you. So, check out some of our other posts for helpful business information: