Marketing Tips for Business Growth - Ebook

Marketing Tips for Business Growth

How Doing Business Has Evolved In Just 25 Years

The business

Startups in one corner of the world are

landscape has

another, thanks to the internet.

changed

disrupting established businesses in

Automation is vastly improving business efficiency.

dramatically

Ads are getting smarter. Advertisers are

in the past

control over who sees those ads, based

25 years.

targeting their audiences with granular on their location, age, income groups, interests, and even intent.

Innovative solutions are making it easier for consumers to find precisely what they want, when they want it.

In other words, every aspect of how business is conducted is undergoing a paradigm shift at an accelerating pace. This rate of development has turned industry-defining companies like Blockbuster, Xerox, and Kodak into the biggest examples of why businesses need to keep changing with the times.

Needless to say, to thrive in this everchanging, highly competitive landscape, modern businesses are compelled to rapidly evolve, or risk perishing.

Today’s Business Climate

The business climate never settles.

It is constantly adjusting to new regulatory frameworks, disruption by technology, and ever-increasing competition.

New Technology A range of cutting-edge technologies is revolutionizing almost every industry around the globe. Artificial intelligence, IoT, 5G blockchain, automation,

Regulatory Framework

augmented reality, wearable tech, remote

Businesses the world over are

as small as mobile apps have brought a

experiencing a friendly political

tectonic shift in business operations and

climate. The intense focus on economic

customer experience.

development by governments has resulted in acquiring loans more easily, increasing tax breaks, business-friendly regulations, and the establishments of infrastructure conducive for business.

collaboration tools, and even something

Businesses that have leveraged one or more of these technologies have gained unprecedented benefits and a competitive edge in their industries.

Competition Companies are using a variety of different strategies to stay relevant in the current and future business environment. A local electronic store in Los Angeles is competing with a Chinese vendor on Alibaba. They have to stay competitive in pricing, convenience, quality, and service for their customers. Social media platforms, and eCommerce have greatly expanded the reach of businesses, and thereby, the competition they face.

This eBook Offers Actionable Steps You Can Use In this FREE DYL eBook, you’ll discover highly effective marketing strategies and tips that will help your business overcome the mounting competition and unlock rapid business growth. Regardless of what business you’re in.

Marketing Needs of Businesses at Different Stages

Every business is unique in terms of customer engagement, customer service, operations, resources, team size, and so on.

It has a unique set of resources to brave the competition in its industry, carve out a niche for itself, and grow steadily. However, most businesses have similar marketing needs based on the size of their budget and industry.

Startups

Expansion

Startups are usually bootstrapped.

Rapidly growing businesses have more

They are low on equity and human

resources than startups and are more

resources. So, they have to get creative

or less stable. However, to ensure rapid

with their solutions. Their marketing

growth, they must rely on a small number

strategy is sharply targeted at early

of highly loyal customers, while innovating

adopters, and therefore, the messaging

to gain new customer bases. Building a loyal

must be crisp and clear.

customer base is critical for fast growth, and

A startup marketing plan needs to focus on brand recognition. They must invest

that starts with finding the right customers in the first place.

in social engagement, get customer

Growing businesses must attract the ‘right’

testimonials, and present a ‘different’

customers to fuel their growth.

view to attract customers. They usually do this using email marketing, regular social media posting and more.

Maturity Mature companies tend to have multiple product lines and several product variants.

Their business sustainability strategy involves up-selling to existing customers, building a loyal customer base, and carving out a higher market share in the industry.

However, their vast size does not allow them to engage each customer manually. They must rely on a powerful set of tools and technologies to attract customers, engage them, and deliver highly personalized brand experiences to them.

What’s At Stake

Businesses across the spectrum are under intense pressure to offer superior services, develop better products, generate more revenue, and achieve higher customer satisfaction, while simultaneously increasing their operational efficiency. Whether it’s a small, medium, or large enterprise, every business must achieve these objectives to stay competitive in their respective industry.

The difference between those who don’t and those who do is staggering. Take a look:

75% of prospects conduct research online before buying. Here’s what they see: 95% of dissatisfied customers will make their displeasure known online with a bad review. One bad review could cost a

65% A company has a 15% chance of selling to a new customer, but a 65% chance of up-selling to an existing one.

company up to 22% in future sales and three bad reviews can cost a company a crippling 60% of new business.

A happy customer will tell up to nine friends of their positive experience with

The result? $6 trillion in added annual sales from a simple conversation over a cup of coffee or dinner with friends.

a company. This form of advertising is

A company has a 15% chance of selling to a

responsible for five times more sales than a

new customer, but a 65% chance of up-selling

paid ad, due to the built-in trust that comes

to an existing one. And the cost of selling to a

with word-of-mouth promotion.

new customer is five times higher!

Define Your Sales Flywheel + Master It

Leads No matter what size your business is, a

Attract

loyal customer is the

spects Pro

Growth Delight

Engage

tomer s Cus

vocates d A

cornerstone of your success. In fact, it’s a well-established fact that just by increasing customer retention by 5%, business profits shoot up by as much as 95%.

Therefore, modern businesses must

The sales flywheel is realized in the three

continually follow-up with prospects,

stages described below:

reach out to new leads, retain existing clientele, and keep their customers engaged. This might sound like an uphill task, but it can be achieved with a triedand-tested strategy of the Sales Flywheel.

A flywheel is a mechanical device that stores kinetic energy. In marketing, a flywheel uses the happiness of your customers as a force to drive sales. It stands on three pillars – attract, engage, and delight.

Attract You attract customers with a pull strategy.

There are several ways to attract the right customers. You can be at the right place, offer the right solution to their problem, run a promotion, or give them a better price than everybody else.

In the digital era, the pull strategy also works through social posts, blogs, and other content that provides value to them.

These are the topics that resonate with

them and may have the answers they have

encouraging feedback through polls

been looking for. For instance, if you offer an

and quizzes, even giving a free trial of

investment service for individuals, you can

your product are some effective ways of

create content like an Instagram video called

getting your audiences excited about your

“Investing on a Budget.” Instantly, you have

offering.

their attention.

Engage

Delight This is the most critical step in the growth

Once you have their attention, it’s time to get

journey of every business. You now have

their interest in your offering. In this phase,

a buying customer, and it’s time for

you tell them an exciting and captivating

you to delight them. Mere satisfaction

story about how your product or service

will not do. You must meet their

solves their problems and why it’s the best

expectations in every way and exceed

way to address their pain points. Listing

them wherever possible. Responsiveness,

product benefits on the company website,

prompt customer service, after-sales

So how do these stages apply to you? Well,

service, warranty fulfillment and other

depending on what stage of growth you’re

aspects offer several touch points with the

business is in, ask yourself the following

customer to elevate their experience.

questions:

Successful companies personalize these

Small Businesses: How do I offer outstanding

experiences. Birthday wishes, anniversary

customer service with minimal resources?

wishes, holiday discounts for related products, and so on, inspire better brand-customer relationship. This is what compels them to try your other products, higher packages, longer subscriptions, and so on, ultimately transforming them into a loyal customer.

Growing Businesses: How do I keep existing customers happy, while finding new ones at scale?

Mature Businesses: How do I offer personalized services to a vast set of customers and maximize customer retention?

Automation is Vital to Achieving Business Growth

The answer to all these questions is the same – Marketing Automation!

Marketing automation enables businesses of all sizes to maximize their productivity, achieve rapid growth, and drastically bring down their costs, besides offering other benefits. Here’s how:

Contextual Communication At any given time, a business’s customers – existing and potential – are at various stages of their purchase journey. Some are evaluating the product, some are considering the price, some are ready for the up-sell, and so on. To convert them effectively, businesses must send them emails and personalized text messages relevant to the customer’s current state of mind.

Generic messaging can’t do that.

Email and text messaging automation allow businesses to automate single-channel and multi-channel communication, so customers receive customized messages based on their position in the purchase journey.

Whether it’s discount coupons, birthday wishes, subscription renewal reminders, or other messages, they can all be automated.

Re-engagement

Tracking Customer

You cannot keep 100% of your

Satisfaction

customers happy. Some will leave you.

However, win-back programs are an excellent way to reignite interest in

How do you know whether your customers are happy or not? Ask them!

your products and services. A simple

Several online survey tools make it

“Your next order is on us,” email or a

phenomenally effortless to gather useful

“Save 50% on your next order” text

information from customers. You’d be

message can often turn a disgruntled

surprised how many customers respond

customer into a reengaged one, now

to feedback emails. You can automate the

ready to give you a second chance.

sending of emails with survey requests after every interaction between your company and customer. It shows you care about them, and they’ll love you for it.

Abandoned Shopping

Re-marketing

Cart Emails

PPC advertisements can be set to

If you are an eCommerce business, then you are likely dealing with a case of abandoned carts. That’s normal in this industry. Thankfully, there’s something you can do about it. The next time you notice an abandoned cart, you can send a quick email to the customer reminding them of it. If you’d like, you can even add a nice little discount or offer to go with the purchase. There are several powerful tools available to automate all of your communications.

retarget existing customers, and potential customers who have visited your website before. You don’t even have to know these audiences. Services like Google Ads can do it all on their own, automatically. In fact, they are so advanced they can give your re-marketed audiences contextual ads based on what they’ve seen before on your website. Suppose they checked a particular product on your site. Google can show them ads of that particular product, or a related one.

Future of Marketing Automation The applications of marketing automation are extensive – onboarding customers, A/B testing of campaigns, tracking referrals, time-based marketing campaign, transaction messages and emails, and even tracking the performance of marketing campaigns. With the advancements in big data, machine learning, and artificial intelligence, automation is gradually moving towards “intelligent decision-making”.

Businesses would be able to muster “smart” and highly effective marketing efforts at the click of a button.

To simplify everything we’ve talked about today, look for a software and service with automation at its core. An easy-to-use platform like DYL combines a phone system and sales CRM to create a virtual office with all the tools you need at your fingertips:

What’s Next For You?

Sequential Dialer - Make over 100 calls per hour per user without ever hanging up the phone. Our automated call center tools do the dialing for you.

Hotlist - When prospects are ready, your sales team has a hot list on their dashboard with intelligent notes they can use to close the deal.

Advanced workflows - Pre-scheduled

Bulk Text Messaging - Broadcast custom

email drips, texts and calls crafted well in

messaging directly from your desktop to

advance can be sent to prospects as they

your entire staff, prospects or customers,

enter the system to begin the nurturing

complete with attached PDFs containing

process. Timing your communication

articles and photos for enriched

schedule ahead of time is far more

storytelling.

effective than trying to do things in real-time. And automating post-sales engagement ensures every buyer gets a ‘thank you.’

Auto Attendant / Virtual Receptionist: Customize greetings with updates of upcoming events or sales, create settings for business hours and after hours, create

Campaigns - Group your customers, so

voice messages for frequently asked

you can customize your messages and

questions, or simply route calls to the

send in bulk.

right individual.

Call Recording / Call Monitoring Access previous conversations for vital information that could serve as a relationship builder. Train new staff by Instant Lead Responder - Reach out

letting them listen in on live calls to

to potential customers who have

ensure consistent messaging.

expressed interest through a web form or advertisement instantly.

Conference Bridge - Keep clients and staff in the loop by including up to 30

Stored History & Notes - Keep track of

people in virtual meetings, regardless of

all past communications with prospects

where they are.

and customers to avoid over-soliciting or miscommunication. Access to stored notes history helps your team with standardized processes, accelerating upsell and cross-sell opportunities.

Far from exhaustive, this list gives you a sneak peek into how DYL can impact your business immediately. Here are just a few more reasons:

Serving Your Needs from Beginning to End DYL, In a Nutshell

Security - Keep your information and data safe.

Reliability - Live support and 24-hour maintenance to ensure optimum performance.

All-inclusive Pricing - Two plans to choose from to fit within your budget.

Ease of Use - Easy DIY set up with a support team just a chat or phone call away to guide you through.

Flexibility - Customize your virtual workspace to fit your needs.

Collaboration - Communicate with your team members in real time, even when on a call.

Explore Your Possibilities Sign up for a free 1-on-1 demo, click here.

Or call (855) 357-9249 to speak with a DYL professional.

Visit www.dyl.com to learn how DYL can help your business grow.