When starting a business, it’s important to develop strategies that both encourage growth and are sustainable. With more than 70% of businesses failing within five years of launch, knowing what works and what doesn’t is a great way to make the most of limited resources. Here are seven tried and tested tips that you can use to get the most of your digital marketing business.
Gone are the days of setting up a second-rate website, throwing some flyers in letterboxes and cold-calling businesses to plead your case. In a post-pandemic world, it’s become critical to create a digital presence that reaches out and engages across multiple platforms.
Whether your platform of choice is traditional social media such as Facebook or new age platforms such as Snapchat and TikTok, there’s a platform out there that you can use to grow your digital marketing agency.
It’s important that once you’ve established your online presence, you feed it with fresh content. For example, if your white label SEO in Melbourne is writing about imperial measurements and how New Zealand has the best rugby team in the world, is your local audience going to stand for it?
Consider the perspective of the content – after all, more than seven out of ten businesses would prefer to use local suppliers in their supply chain, and this includes digital marketing!
Something to keep in mind is that the underlying algorithms that rank your content are constantly changing. While long-standing ranking tools such as Google’s PageRank are relatively well known, newer platforms such as TikTok often have more obscure and less visible systems.
It’s important that your agency can adapt to the algorithms and develop media that suits the specific needs of their clients. For example, if you’re a lolly shop, that may involve a short-form video covering the in-house lolly-making process. For an engineering firm or media agency, that may involve press releases or written contact that supports their desired media strategy.
Cash flow straight can be something that impacts a business easily in the current marketing environment. After all, when clients can pause their spending with the click of a button, it’s important that you can adapt to handle these sorts of challenges.
Aiming to have a financial buffer for any business is a great idea to have, and ultimately it can help mitigate the impact of potential downturns.
Consider what your business needs and have a strategy in place to provide that – after all, to paraphrase former U.S. President Benjamin Franklin – if you fail to prepare, you are simply preparing to fail.
While President Franklin died some two centuries before the emergence of digital media, his words hold some stead in today’s market. For digital marketers, it’s important to have a plan for the business and to strive to achieve the objectives set. One client is simply not enough in today’s environment – strive to get the most out of your businesses.
Once your campaigns are out in the wild, the job isn’t over. Understanding what works and what doesn’t in campaigns is a great way to identify successful strategies that you can use in future.
Tools such as Google Analytics and Facebook Business Suite allow digital marketers to gain critical insights into their campaigns. This can then be used to monetise future campaigns by adapting your strategy to minimise poor targeting and maximise your successes.
Finally, it’s important to get involved with new and emerging technologies as they become available. While it may have taken Facebook nearly a decade to reach one billion active users, it took only four years for the newly emerging digital powerhouse TikTok.
Understanding what new platforms and technologies are emerging in digital marketing can allow you to get a one-up on market competitors. Whether it be developing content that is suitable for a variety of platforms, creating messages using modern communications tools such as WeChat and RCS messaging or simply reading the latest tech news once in a while, there are significant opportunities available for those that wish to try something new.