Three Steps to Improve your B2B Marketing Strategies
Today, I wanted to focus on tangible steps you can take to maximize the online presence of your online business with Growth Hacking. With a few easy steps and the right tools, anyone can improve their digital marketing strategies. If you don’t know already, let me define Growth Hacking for you.
Growth Hacking is a type of digital marketing strategy that focused on increasing your consumer base.
Here are the 3 phases I go over with my own clientele to help guide them through the process.
1. The Setup Phase
Before you even start marketing, there’s a bit of homework to do. Many people think they can jump right to advertising on Facebook or LinkedIn right away, but that’s not the case. Without the proper setup, all your advertising dollars will be wasted. During this phase, it’s crucial we gather all the necessary data and information to better target our audience. One of the first things to do is make a KPI dashboard. (If you’re unfamiliar with KPIs, then check out my article here for a simple explanation).
A really great tool for this is Databox. It’ll pull in all your data from different sites in one place for you to easily navigate and understand. We need all this information as a baseline so that we can track the results and see what marketing strategies are more successful.
Some of the different sites you’ll also want to set up to accumulate data are Google Analytics, Facebook Pixel, and LinkedIn Insights Tag. These are different kinds of code that can track conversions and other data from your website. I could delve into any one of these, but for today I want to focus on the process of how to plan your marketing strategies.
2. The Discovery Phase
After setting up all your different KPIs, it’s time to test out different marketing strategies as cheaply as possible. Now, here I’m going to tell you something that many people won’t admit. When it comes to the online world, no one knows what works. Lots of people will try to sell you a surefire way to grow your business, but nothing is guaranteed.
So what’s the best strategy?
Constantly dabbling with new ideas and seeing what sticks. It’s important to always improve and test everything from your website to Facebook ads. Luckily, there are lots of great tools to do this.
Google Optimizer is a free and fantastic tool that allows you to customize your website for each user who comes to your page. Using Google Optimizer you can create a dynamic user experience that will improve your visitor satisfaction. Sounds pretty great, right?
Using Google Optimizer, you can make sure that each visitor who comes to your website finds the information they’re looking for. Someone who is looking at different companies and searching for the best deal might just need your pricing right away. Whereas someone who is searching specifically for your site might need some evidence that you’re trustworthy by reading reviews or testimonials.
Another important thing to note is that you’ll want to test things out as cheaply as possible. At this point, it’s good to try advertising in places you might not have thought of before.
One example of somewhere different to advertise is Bing. I know, it sounds like a terrible idea. Who uses Bing? More people than you think!
There are a number of industries that still use Bing as their default search engine, so if you want to run some cheaper ads and test out what works, starting with Bing might be what you decide to do. The people who use Bing also have different traits that might be a good fit for your audience. Now, this is obviously only good if the industry you’re involved in uses Bing, so it’s important to do your research beforehand.
3. The Scaling Phase
Once you discover what strategies are most effective, you’ll want to scale it up. This is the time to put those advertising dollars to good use! After testing out different strategies, you’ll now need to start a larger campaign.
Another quick thing I’d like to emphasize here is to calculate your own labour when seeing how much your ad campaign actually costs. Often, people think they are saving money by doing everything themselves. Especially if they’re running a small business.
For example, let’s say you spent 10 hours on a single LinkedIn Ad (writing it, designing it, and testing it). Now say your wage is $30 per hour. You’ve already spent $300 on that one ad, and maybe it only landed you one new client. That was a pretty expensive client, so it’s important to factor in your time as well as anything else. Doing so, you’ll be better able to actually calculate a true conversion rate.
And that’s a wrap!
So there you have it, the three-step process I use with my clients to show them to improve the digital marketing strategies for their business. Obviously, this is just a cursory overview and I discuss everything far more in-depth during an actual client call. Still, it’s a good roadmap to start with if you have no idea how to approach doing the growth hacking for your business.
Now take this knowledge and apply it to your own business to increase your digital growth!