Statistically, almost half of new businesses fail within the first of start-up due to various reasons. One of the top contributors that account for this troubling statistic is failing to keep ahead of your competition. And make no mistake about it – your competition is here to stay. However, this is where a brand agency can help your business reclaim your market share and more through intelligent digital tactics.
How a brand agency can help your business succeed
In online marketing, there is no room for complacency. Thus, a brand agency will ensure your business doesn’t get left behind in the race to the finish line. Here’s how:
Getting your brand name out there
New businesses without a website put themselves at a significant disadvantage. With billions of active users on the internet, most consumers these days rely on websites to get a glimpse into a company’s offering. Websites can do what few other traditional marketing forms can’t – they reach a global audience on an unprecedented scale. For new businesses, the presence of a website is non-negotiable. If you want to get your brand noticed on the web (and who doesn’t?), a brand agency can help you design and implement this all-important marketing tool. In addition, brand agencies know how to make your website rank. They also know how to grow traffic to your website, leading to increased conversions and repeat customers.
Developing a digital marketing strategy
A digital marketing strategy is a detailed marketing strategy outlining how your business will achieve your marketing goals online. However, for most new businesses that have to keep up with the daily demands of just keeping their business afloat, focusing on the online marketing side of things is another story altogether. For new businesses especially, this may seem far beyond their scope and resources. As a result, many start-ups choose to use a brand agency to take over this critical marketing function instead.
Elements of a digital marketing strategy
A digital marketing strategy is usually quite detailed. A brand agency has a good grasp of each unique element that comprises a well-rounded digital marketing plan. Through a series of steps, they integrate all of these sub-elements together to establish the way forward. These include:
- Establishing your brand
- Defining your target market
- Analysing your competitors
- Determining a budget
- Measuring and tracking your online marketing efforts
Benefits of a digital marketing strategy
Accurate data is the foundation of good decision-making. Furthermore, historical and current data influence forecasts and projections in a big way. A brand agency uses digital marketing tools such as Google Analytics to track user interactions to get a clearer picture of where customers are in the buyer’s journey. Such instant information at your fingertips allows for quick proactive rather than reactionary decisions to help steer your business in the right direction.
Segmented audience targeting
Unlike traditional forms of advertising that usually focus on a broad target audience, a brand agency can segment your target audience accordingly. Audience targeting allows for a more targeted marketing strategy, ensuring that your message reaches the right people. It’s about lasering in on audience specifics by identifying past and future purchasing behaviour. A brand agency will then formulate a strategy that anticipates purchasing behaviour by leading and directing consumers to where they want to go.
A predetermined budget
Allocating a budget to a digital marketing strategy can be confounding, especially for new businesses that already have so much on their plates. After all, how can you put a number to something you may not have the foggiest clue about? Whether it be SEO, PPC, social media marketing, and other forms of digital marketing, a brand agency will know how to break this down for you. And even better, they will know just how much spending to allocate to each resource to reap the maximum benefits.
A well-formulated digital marketing strategy is the key to online success, whether your business is just starting out or if you’ve been in the game for a while. Therefore, choose a brand agency that can help you build an online marketing strategy that can outwit the rest.