Table of contents
- WHICH COMPANIES ARE YOUR CLIENTS?
- Examine your competition to see how they drive traffic.
- What makes your brand substantially different?
- To ensure longevity, invest in organic traffic.
- Always turn your brand into a conversion machine!
- Get your business off the ground with paid channels.
- Success must be measured. HOW TO GO ABOUT IT:
- It's all about the tools. Carefully select them.
- To increase sales, create a backlog of experiments.
- Amazon is a great place to get your direct-to-consumer brand off the ground.
- What are the benefits of leading with loyalty?
- How are you going to make it all happen?
A corporate success story does not appear out of nowhere. Reaching your business goals, like any other aspect of life, necessitates a well-thought-out marketing strategy. And there are 12 actions to take in order to develop that strategy. Let me guide you through them one by one.
WHICH COMPANIES ARE YOUR CLIENTS?
Create a profile for the ideal customer for your company.
Always begin by identifying your target audience. What kind of persona do you have? Make a rough sketch of it. Also, make sure you're over-indexing on that persona while prioritizing value. Are you stumped as to where to begin? Make use of the tools that are already available! The Facebook Audience Insight Tool comes in handy in this scenario. It lets you build an avatar for your ideal consumer, which is quite cool!
Examine your competition to see how they drive traffic.
Analysis of Competitors
SimilarWeb, Ahrefs, SemRush, Ubersuggest, and other tools were created to help you analyze the main traffic drivers, keywords, and backlinks. After you've pinpointed those, take a closer look at how they're generating traffic before repurposing it for your own business!
What makes your brand substantially different?
Establish a value proposition
Before developing a value proposition for your product or service, figure out what the jobs to be done are. A clear and compelling value proposition can generate ten times more interest in your brand than your competitors. Keep an eye on what your consumers have to say about you and include their ideas and words into your messages, as well as through reviews and testimonials.
To ensure longevity, invest in organic traffic.
Search Engine Optimization (SEO) and Keyword Research
The greatest way to find websites is still through SEO. It also demonstrates that it has the best ROI potential. As a result, begin by conducting a technical SEO assessment on your website. You may assess the impact of organic traffic on your brand by analyzing keyword demand and on-page performance.
Always turn your brand into a conversion machine!
CRO (Conversion Rate Optimization) is essential for business success
Did you know that 98% of your website visitors will not make a purchase today? A thorough conversion strategy begins with a CRO audit, which can help you improve the entire funnel, resulting in more visitors becoming customers.
Get your business off the ground with paid channels.
Are you creating a successful paid ad funnel?
It's no secret that you need to adopt an omnichannel approach, led by Facebook and Google Ads campaigns, if you want to grow quickly. Start laying some solid foundations with a unified Facebook campaign structure. Concentrate on costs (CPAs) and budgets based on your personal profit targets. Once you've tackled awareness and created demand, make sure you have a well-thought-out paid search strategy in place to meet that demand. Beware of brand and category searches during this process.
Success must be measured. HOW TO GO ABOUT IT:
Create an analytics infrastructure and think in terms of CLV:CAC at all times.
To measure the reach of your marketing activities, use Google Analytics and URL tracking best practices. Establish industry benchmarks to see how you stack up against the competition.
Here are four data-driven definitions that your company should emphasize:
Customer lifetime value (LTV, CLTV, or CLV): These indicate the revenue value over the length of an average customer's whole association with the company, i.e., future cash flows.
Churn: It is the opposite of returning customers and tells you the absolute number or percentage of customers who quit reordering (churn rate).
Customer acquisition costs (CAC): are the overall costs of acquiring an average customer, including agency fees.
Cash multiplier (CM): The revenue value of certain customer groups across limited periods payback window is represented by the cash multiplier (CM), which is adjusted for sources and entry points.
It's all about the tools. Carefully select them.
Develop a marketing technology stack
There are a variety of marketing tools to pick from, depending on your budget and your brand's objective. I have a backlog of over 100 marketing products organized by industry. For example, if the goal is to scale a Shopify brand from 1 million to 10 million customers, I can tell you that a combination of Nosto, Klaviyo, reviews, and search tools should be used.
To increase sales, create a backlog of experiments.
pipeline for growth experiments
Develop a pipeline of 75+ growth experiments to run with the purpose of improving the performance of your marketing channels. Sean Ellis, a growth hacker, coined the ICE framework, which I love to work with. In the end, it all boils down to these six steps:
There are six steps to running a successful growth marketing experiment:
Step 1: Define your goal.
Step 2: Make predictions about what might happen along your growth route.
Step 3: Get the experiment started.
Step 4: Put your marketing tools to work.
Step 5: Examine the outcomes
Step 6: Share what you've learned with others.
Amazon is a great place to get your direct-to-consumer brand off the ground.
pipeline for growth experiments
The days when Amazon was solely an e-commerce marketplace are long gone. With 66 percent of shoppers starting their purchase search on Amazon rather than any other search engine, it's easy to see why it's become the most popular platform for discovering new brands. When you add COVID-19 to the mix, you'll see Amazon soar to new heights and become an effective way for DTC businesses to reach new customers.
What are the benefits of leading with loyalty?
Loyalty, not acquisition, will be the winning strategy for the next decade's brands
By increasing the return on your marketing and sales expenditures, a good customer loyalty program can help your company create significant recurring revenue.
If you're considering leading with loyalty, I can only advise you to think about your favorite brands. Which ones have had a significant influence on your life? Despite the many other options, what would keep you interested and passionate about this brand? Consider the possibilities!
Hotel Pink, by Frankbody, is one of my all-time favorite loyalty programs.
The concept is based entirely on their ICP. It has a fresh appearance to it, and it matches Frank's character as a guy who pampers the ladies. Hotel Pink's design is a natural extension of their brand story, and people who like it will tell their friends about it. Storytelling is an important part of a loyalty program that has the potential to go viral. Stories have a natural charm, and those who have heard them will always distribute them to those who are hungry for new information.
If your company concentrates on delivering great stories, there's a good chance that people will remember them and want to tell others about them. The Hotel Pink's design accomplishes this, and it encourages its customers to share their goods with their friends.
How are you going to make it all happen?
What is the best way to organize your growth team?
Allow me to discuss some critical areas of knowledge that should be addressed in order to reach your growth marketing objectives. The most important thing is to assemble a crew capable of carrying out all of your growth trials.
Your team should not be overly reliant on third parties to the point of becoming a bottleneck. Also, keep in mind that growth teams should collaborate across departments rather than working in silos.
My most important roles are usually:
Growth Manager: This is the person in charge of the company's growth goals and key performance indicators (KPIs).
Expert or Specialist: A marketing professional who specializes in the field for this team or project is known as a specialist or expert. Before employing a growth manager or head of growth, I also advise startups to engage a specialist in the domain of their key flywheel. A copywriter who focuses on SEO and generates blog content, for example, or a cameraman who designs video strategy
Data Analyst: That person is in charge of gathering and organizing data for growth trials. They're also in charge of building dashboards and giving presentations at conferences.
Developer/Designer: A digital marketing experimenter who is either a techie or a designer. It's fine for a single person to play many roles. The growth lead, for example, could be the person who oversees the team and works as a data analyst.
I hope you remember everything and can pass it on to others. Good luck with your development!