5 Signs Your business Might Be losing big bucks
So there you are. You’re a hard-hitting entrepreneur or small business owner with a knack for making your customers happy. Still, despite having perhaps great products or excellent services, you’ve noticed that your profits and sales have been trickling off over the past few years.
Meanwhile, your competitors have been cruising ahead, expanding their businesses and enjoying the good life. Honestly, you feel like something trapped in the all-encompassing, muscular grip of an anaconda – gradually getting squeezed out of business by your competitors.
So what gives? One common reason small businesses lose ground and sales to competitors is the lack of a compelling digital content marketing strategy and the absence of a clear, actionable vision that speaks to the hearts and minds of your potential clients. Here are a few reasons why a lack of a digital marketing strategy means you’re losing business right under your nose...or your tits (ha!).
(1) When people have a problem, they certainly don’t think about your business.
Fact: people are increasingly spending more and more time online. So if you don’t have a workable digital content marketing strategy which ensures a memorable web presence, people won’t be thinking of you when they have a problem you can solve! Instead, they’ll go to that competitor of yours that’s got their digital marketing fine-tuned to an enviable degree.
(2) Your business doesn’t have an online brand or voice that waggles the ganglia and neurones of your target audience.
Sadly, there are a bunch of brands out there that are boring, stilted, and staccato. Nothing edgy that pushes the limits like good brands do. Nothing exciting. Nothing that could even remotely begin to spark interest in their target audience.
On the other hand, some brands have it nailed down perfectly. They have a character, a voice, a presence that echoes and reverberates and resonates. These are the brands that people flock to, eager to purchase their products and services. These are the companies that ultimately succeed in the long-run while other businesses turn to dust.
So how can you as a small business owner or entrepreneur articulate a voice that deeply moves your target audience (and opens up their wallets)?
You can begin by making an effort to discover precisely what makes you different from your competitors. This will involve much research regarding competing companies – and it will also involve a lot of introspection on your part about how you’re going to make your company profoundly different in a meaningful way.
For example, your values and mission can be unique to you – and this can shape your company in a distinct fashion. Then, once you have given this sufficient thought, all aspects of your brand (from graphic to copy to sales personnel) should reflect your values and mission – always keeping in line with the core values and mission of your company.
(3) People won’t remember you – even if they’ve used your services before.
These are popularly known as the “3 C’s of Branding.” And when you’re not following a detailed digital marketing plan – instead you’re scattering buckshot in the wind with minimal effect – you’re probably missing at LEAST one of these critical 3 C’s for effective business branding.
Let’s probe into this a little bit more.
If you don’t have clarity. This means that even people in your closest network don’t really know what you do or how you can help them. As a result, they won’t reach out to you when they have a problem you could solve, and you’ll lose out on business and cash flow.
If you don’t have consistency. “Consistency” means that your branding message is identical across all platforms (both digital platforms and offline media). So, again, lack of consistent branding leads to confusion about your business and services, turning people off and making them go elsewhere for their business.
If you don’t have constancy. Constancy is especially important when it comes to content marketing; you have to post blog articles constantly if your site is going to rise higher on search engines; you need to post on social media regularly if you’re aiming to significantly grow your following. (check here to see how we do this)
(4) You only talk to your network when you want to sell them something.
Businesses without a successful digital marketing strategy tend to only talk to their networks when they want to sell something to them.
As it turns out, there’s good news and bad news here.
First, the good news. If your content marketing and inbound marketing funnels are top-notch, you don’t have to hard sell AT ALL. Actually, on the contrary, your target audience will be interested in your brand persona so they’ll want what you have to offer. And after you put out enough high-quality content, you’ll have built up enough trust that people will buy from you without any hard selling effort on your part.
The bad news? Okay, it’s not so much bad news as sound business thinking: you’ll need a good blog and overall first-rate content (and not junky content that’s only for search engine bots to read – eek!), otherwise your content marketing efforts won’t make a positive impression on the minds of your target audience.
(5) You forget to nurture your clients with personalised value.
Remember the “good ole days” when you’d go down to the local convenience store at the corner of your neighbourhood – and the store clerk always knew exactly what brand of coffee your mum loved? (Okay, if you don’t remember that just because you’re a tiny bit younger than me – then no harm done!)
Here’s the point. In today’s frenetic business environment – with everything and everyone clamouring for the attention of your target audience – you need to be as personal as you possibly can. Fortunately, with digital and content marketing, you can speak directly to your target audience in a highly personalised way. As a result, your clients will want to come to you for business again and again.
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