The 4 Ingredients to Digital Marketing Success
Are you ready for them? Buckle up and take note!
1. Understand Compound Interest
Albert Einstein once said, “compound interest is the eighth wonder of the world” (or something very similar to it) and whilst is often applied to finance and money, it is equally applicable to marketing.
It’s the little things, done over time, that make a big difference. And that is a core lesson that all digital marketers need to focus on. The question is not “how do we get 20% growth?”, the question is “how do we get 2% here and 3% there that compounds over time?”
Let’s say we are selling 100 widgets per month today:
As you can see, with small improvements across all aspects of your marketing, we’ve increased revenue by 20%. Of course, every business and their customers follow a different journey, but the focus is on the little wins that ‘compound’ into greater growth.
2. Cadence Is Everything
By cadence, we are talking about doing the work over and over again. It becomes an ingrained habit for the business that is done time and time again.
So, what are we actually referring to when we say ‘cadence’?
- We will always do our tasks. This means producing that blog article every week, filming that video every month, optimising our google ads campaign every fortnight and sending out that EDM every month.
- We will show up every day. This means communicating with customers, communicating with leads and communicating with the wider community.
- We will communicate the same messages every day. This means communicating the same information and the same ideas. People aren’t you; it took you 10-20 years to know what you know. Your target audience is going to take longer to learn what you know, so keep showing up with the same messages and the right cadence.
3. You Need to Market Your Why
People don’t buy what you do, people buy why you do it.
This is not the features or benefits, and this is not your products or services. It’s the change you want to make to the world, the growth, the improvements – the change your business is going to produce in making your customer’s life better.
Here are 3 ways to really understand what your why is:
1. Use “Why” to Think About Your Business
Do you know your company’s “why”? (and it’s not to make money.) Think about the core purpose of your business, and then think about how you market your products or services. Are they aligned?
2. Incorporate “why” into your copywriting
The next time you’re writing a blog post or creating a landing page, start by writing with “why”.
3. Redefine your customer personas
This is the type of person who is your ideal customer. This about where they are, what they do, what their core values are, and what drives them to buy your products and return for more.
4. The One Who Adds the Most Value Wins
A customer chooses who they buy from based on how much ‘perceived value’ they are going to receive. This is an exchange of one asset for another. In this case, it’s the exchange of money for some form of value. And I’m going to choose the product or service that is going to add the most value to my life.
I can’t stress this enough; every single focus of your business needs to ensure it adds more value. Anything that isn’t doing that, get rid of it. It’s called focus for a reason.
Here are some ways to add more value:
- Give things away for free! That’s lots of value you can just throw it all out there.
- Nurture leads into customers with great content that adds value.
- Continually add more value to your existing clients so they become clients for life.