5 Strategies for Growing Your Business Through Digital Marketing
Digital marketing is a powerful way to connect with more people who are interested in what you have to offer. Growing your business through digital marketing can help you reach your ultimate goal: more revenue.
In fact, a study by StrategyR revealed that the compound annual growth rate of digital marketing from 2020-2026 is projected at 13.9%. This means more businesses will be embracing digital marketing and reaping its benefits.
Do you really want to be left behind?
A digital marketing strategy directs your focus to certain targets, priorities, resources, and actions, usually over the long haul. These strategies enable you to achieve your primary objectives and aim for next-level growth.
Read on and learn the five strategies that will help you in growing your business through digital marketing.
5 Strategies for Growing Your Business Through Digital Marketing
Here are the top five digital marketing strategies you can use to build your business.
1. Maintain an Active Social Presence
If you want to grow your business using digital marketing, it’s important to establish a solid online presence on social media and search engines. And an active one at that.
According to recent estimates by Statista, more than 4.26 billion people used social media in 2021, which is expected to rise to nearly six billion by 2027.
When you maintain an active online presence on social media, you’ll be able to attract attention to your company without making a huge financial investment.
Sharing valuable engaging content on social media platforms like Facebook, Twitter, Instagram, and LinkedIn is a great way to gain more online exposure.
Here are a few other ways to maintain an active online presence:
- Keep up with the latest trends on social media
- Regularly update your website’s blog and share it on social media
- Create and share product demo videos
You can also put up captivating infographics that exhibit distinctive ways of establishing the relevance of your business and brand.
However, it’s important not to spread yourself too thin by joining every social media platform out there.
Stick to the channels where your target customers are most likely to be active. In doing so, you’ll be able to maximize the impact of your digital marketing efforts.
2. Recognize and Respond to all Consumer Feedback and Reviews
According to BrightLocal, more consumers are reading online reviews than ever before. In 2021, 77% of them always or regularly read them when browsing for local businesses (up from 60% in 2020).
Customer feedback and reviews are great as they can help with customer experience management. You can easily figure out what they need from their reviews and make the required improvements.
Additionally, responding to positive and negative reviews can also help you manage the perception of your business.
And that’s why you should prioritize learning how to respond to both good and negative customer feedback.
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When responding to feedback, you should:
- Respond quickly
- Thank the customer for their feedback
- Acknowledge the problem that the customer experienced
- Explain how you plan to solve the problem
- Take the discussion away from social media
- Follow up with the customer after you’ve implemented the solution
A great way of collecting customer feedback before they write reviews is by using AI-powered chatbots. They can reach out to your audience and ask them for their feedback so that you can improve your chances of retaining customers and attracting new ones.
Here’s an example of a good customer review and a reply from the owner.
Reviews are also important because they give prospects the social proof they require to make a purchase.
But it can take a lot of time and tedious manual effort to solicit, compile and track all of this feedback. That is where review tools such as piHappiness, SurveySparrow, Typeform, AskNicely and SurveyMonkey come in.
You can use these tools to collect consumer feedback and reviews through online surveys.
3. Leverage Influencer Marketing
Influencer marketing is another effective way of growing your business through digital marketing.
Partnering with influencers can help drive your brand awareness, lead generation, and even sales. You can leverage this strategy by partnering with social media personalities who are right for your brand (have similar ideals, similar audience, etc.).
For example, FabFitFun partnered with Ayesha Curry, a well-known chef, as part of their influencer marketing strategy on Facebook.
To further drive the growth of your sales using influencer marketing, you can combine it with affiliate marketing where you can give a commission to your influencers for every sale they drive. This makes it a win-win situation for both parties as their revenues increase.
4. Organize Online Marketing Events/Virtual Events
Organizing online marketing events is a great way to gain exposure for your business and create interest in your products or services.
An online event is one in which people interact with others in an online setting on the web rather than meeting in person.
But there’s a catch here.
You need to identify your target audience for the events.
By targeting the right audience and at the right time, you can communicate with your prospects at every stage of the buyer’s journey.
Webinars are good examples of virtual events that are becoming increasingly popular since they make learning about a product or service easier.
A study by ON24 shows that the average webinar attendee conversion rate is 61%.
What’s more, since online events are digital, they offer a unique opportunity to collect first-party data through registrations and attendee engagement in-event and via social media. This helps you tailor your marketing messaging for them too.
Some platforms provide granular analytics into attendee engagement and experience, allowing organizers to tweak and improve experiences.
You can easily see metrics such as views, likes, clicks, impressions, and comments on the dashboard of the tools in use.
If you’re a business owner, this is yet another effective way of growing your business through digital marketing.
5. Find Out How Your Competitors are Positioning Themselves in the Market
Understanding how your competitors are positioned in the market allows you to fine-tune your business plan to counter competitive challenges and strengthen your position.
Conduct research to find out what your competitors are doing online. You can use tools such as Ahrefs, Semrush, SpyFu, BuzzSumo, or Searchmetrics to track your competitor’s digital marketing campaigns.
For instance, see how this Semrush review shows how the tool gives you a glance into your competitors’ strategy or conduct competitor research.
You can also look at their website design, social media presence, and blog to understand their strategies better.
By understanding your competition and catering to your customers’ needs, you can position yourself as a leader in your industry.
To recap, we’ve looked at five proven strategies for growing your business through digital marketing.
From maintaining an active social media presence to seeing and responding to reviews, there’s a lot that you need to do to give your brand the much-needed boost. Partnering with influencers and organizing online events are great tactics too.
By implementing these strategies, you’ll soon see a boost in your sales and customer interaction with you and your brand.
Have any questions about these strategies? Ask them in the comments and I’ll answer them.