If you could rewind the tape and travel back to thirty years ago, terms like social media, pay-per-click ads, and live streaming were non-existent. In 2017, these same terms are now concepts, industries, and services that have revolutionized the way businesses run their marketing departments, sales transactions and more. As so many changes have come as a result of digital media, it’s important to move with the times. Businesses have to strategize differently and more intentionally to reach a target audience. If you’re unsure of how to approach this from a very practical standpoint, consider these tips.
- Define your target audience.
It’s going to be important that you become really clear about whom your business is serving. Think of your ideal client. Become really specific about whether it’s a man or a woman. Figure out their age, favorite foods, hobbies, and concerns. Once you become really clear about who makes up your target demographic, you’ll be able to find them a lot easier. One of the biggest mistakes companies make involves making a huge generalization and assuming that everyone fits into their target market. Within the digital space, this type of approach won’t work. Get crystal clear on who your customer is and how your business can provide exponential value to them.
- Go where they are.
Once you know who your customer is, you’ve got to find how WHERE they hang out online. If your business is a clothing boutique for toddlers, figure out where the mothers of young children are hanging out. Young mothers between the ages of 18 to 35 are most likely on Instagram and Facebook. If your company provides essential tools for professional photographers, consider visiting photography blogs and vlog channels. Utilize the power of influencer marketing to get the word out about your product and how it can help people.
- Polish the digital appearance.
Once you’re able to grab the attention of your target audience, make sure your digital home is ready for their visits. In this case, your digital home would be your website, social media pages, and your email list. Make sure everything looks polished, cohesive, professional and consistent. When it comes to the digital world and business strategy, it’s important to remember that people buy into what they’re visually attracted to. Make sure the visuals are attractive and have the power to invoke a sense of interest to the customer.
- Price everything correctly.
Since you are in business, make sure that every product is priced in such a way that’ll make the business profitable. It’s hard to create from a space that’s not financially supported. While a company is in business to provide a service and value, it’s sustained by making a profit. Make sure the profit margin is wide enough to allow your company to thrive. At the same time, make sure the value of the product is high enough where customers will gladly and willingly pay the price of the product. This is where marketing, branding, and advertising are crucial. With most companies and their products, there’s usually somewhere where the same product can be purchased for less. In the case of many thriving businesses, the competition doesn’t matter because they also succeed in creating an experience and invoke an emotion around their product. Starbucks and Dunkin Donuts both sell coffee. The coffee at Dunkin Donuts is cheaper, but countless people will wait in long lines to purchase a cup of Starbucks coffee because there’s an experience and emotion attached to it. As long as your company succeeds in presenting a desirable experience in the digital world, you can price your products to suit your company’s bottom line goals.
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