You’re probably making the process of scaling your online company more complicated than it needs to be—all you need is a few key ingredients and the rest essentially takes care of itself. As long as you have an innovative, in-demand product or service supported by a solid business plan, you have all the essential components for sustainable growth and enhanced profitability. Skeptical? I don’t blame you. That’s why I’ve outline five straightforward and achievable marketing and branding steps you can take today to efficiently scale up and take your online business to the next level.
Put simply: Make it extremely easy for your customer base to purchase your product or service. They’re already on your website. They already want your product. Make it simple for them to do so. Sounds logical right? That’s because it is, yet it’s dumbfounding just how many online platforms make customers’ lives frustratingly overcomplicated. Evaluate your website from a customer’s perspective. Are there any steps in the check-out or selection process that could be eliminated or simplified? You’ll be amazed at how these miniscule changes can enhance your bottom line. Help them get to the finish line with the least amount of steps possible.
You have to stay on top of your numbers. If you’re not intimately familiar with every last dollar associated with your lead generation and sales initiatives, you’re not going to be able to effectively scale. There are two essential data points you need to consistently track: (1) Cost-per-Lead (CPL); and (2) Cost-per-Sale (CPS). Knowing your CPL helps you refine your marketing strategy. For example, if you generate the same number of leads via email and flyers, but the monthly cost of an email campaign is $100 and the monthly cost of flyers is $500, then it be a good call to transition your effort into generating more email leads. As far as CPS is concerned, it’s important to understand what product and services are providing you with the biggest bang for your buck—accounting for all associated production, assembly, and delivery expenses—and adjust your business model accordingly to push sales on those items and increase profitability.
It’s time to get over your stage-fright and put you (and your business) out there, especially when you are attempting to scale. More attention—as long as it’s the positive kind—equals more revenue and you’re going to need as much of that as possible to support your ongoing development. The good news is that there are a plethora of cost-effective and accessible to gain media attention if you’re willing to put in the work. Outlets like Help a Reporter Out (HARO) offer free registration for companies that helps you connect with thousands of reporters looking for expert insights and industry updates. Providing quality, well-research responses to their inquiries can land you a steady stream of news features that will increase brand recognition and an increased loyal customer base that identifies with your corporate values and business ideologies.
It’s 2021, your marketing campaign should reflect accordingly. Use technology to make both you and your employees’ lives easier so you can focus your attention on more important tasks running your business day-to-day. Automated email services can generate lists that are sent out on a regular basis to drive sales and customer engagement. Similar to all other methods of online marketing tools, email automation needs to be regularly tested and optimized in order to integrate it seamlessly into your business model. But when you find the right formula, this can be a real asset to your profit margin—generating leads, converting sales and networking around the clock translates to more dollars in your pocket at the end of the day.
Social media is the name of the game when it comes to brand recognition and scaling efforts. In order to truly harness the power of this essential tool, make sure that you use the same handle on each and every platform. Doing so makes it easy for your customer base to follow you on their preferred social channels and keep the engaged and aware of new offers, promotions and developments that will improve their interaction with your company. Put some thought into creating your handle and don’t be afraid to get creative—a slogan or phrase that catches potential buyers’ attention is worth its weight in gold given just how interconnected everyone is on social media these days.