“Challenges are what makes a business interesting; overcoming them is what makes it meaningful.”
2017 is the year of the new millennial. According to Forbes, by 2020 this demographic will spend $1.4 trillion per year. As a result, business are actively targeting the millennials. To win over this young group of consumers businesses need to understand its ways and preferences.
Multichannel to Omnichannel: From brick and Mortar to online, businesses are making a transition to cater to this tech savvy customer base. The new generation born 1980-2000’s have grown up on the internet and mobile devices. The challenge is to integrate the in-store, online and mobile channel experiences and make them all cohesive. Businesses have to connect all the dots and touch points in the customer’s buying journey to nail a deal.
Traffic to leads and conversions: There’s so much noise on the internet deciding which platform to choose for publishing or promoting your content turns out to be confusing and unclear. Understanding the demographics and buyer’s online behavioural patterns should help you make a decision. More importantly, whatever social media platform is chosen the quality of content should be the primary goal. If your content is useful, engaging and current, it’ll find the right customers. Hubspot research found 43% of consumers prefer video over 29% who prefer blogs. In an era in which the customer is flooded with newsfeed and notifications, standing out in the crowd should be a primary goal.
Measuring and proving ROI: Tracking measurable ROI becomes a challenge when two-way communication between marketing and sales is lacking. ROI is the metric that must be used to understand the effectiveness of any marketing campaign. However, it calls for a huge investment of time and resources adding to the budget allocation. This can be handled wisely by using marketing software and CRM solutions.
Website Management: Website is the most vital element of digital marketing and sales. It has an extensive and intensive aspect. Every touch point of a buyer’s journey almost always touches websites. Whether it is a direct link, hyperlink or social media platforms, a website works around the clock for marketing and sales. The efficient and optimum performance of a website is of priority to any business. The aspects to be dealt with are its performance, design, load time, security, SEO and being mobile friendly. There’s a lot of work required at the backend to meet all these requirements. Hiring experienced and involved agency partners is an important step to proactively develop and execute a marketing-friendly website.
Being up-to-date: Identifying the right and latest technology for your business needs is a difficult task. The source of recommendation and suggestions has to be authentic, up-to-date and suitable for the situation at hand. At present, automation tools for structuring and delivering different marketing capabilities are seeing a tremendous upswing.
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Developing a pro team: Hiring of trained and experienced professionals well versed in latest tools & best practices requires a huge investment of time and resources. The strength and weakness have to be identified to work upon. Also, some amount of motivation is required to push members towards upscaling themselves. Hiring top talents could solve this problem partially, but not all can afford it.
Whatever, may be the challenges, a thorough analysis of performance and strategies will help you discover the best opportunities. If you do not wish to take it up yourself, there’s always digital marketing agency that can help you develop and execute a growth plan.
Snigdha Mazumdar is founder and owner of Webtage, a digital build + market firm that delivers digital experiences to drive top line growth and operational efficiencies. As the owner of Webtage, she has deep expertise in helping organizations launch, optimize, and grow their online presence by spearheading digital programs targeted to increasing revenue and maximizing returns on investment.