Digital Marketing? Revenue reigns supreme
Revenue is the lifeblood of any organisation, and digital journeys are no different. Revenue should be the primary focus of any digital journey for a few key reasons. First and foremost, revenue allows companies to invest in and execute their digital transformation plans. Additionally, revenue growth fuels innovation and will enable companies to improve their products and services continuously.
Finally, revenue is the ultimate metric by which a company’s success is judged.
While there are many important factors to consider when embarking on a digital journey, at the end of the day, revenue will determine whether or not the journey is successful.
Creating a digital strategy based on revenue
The first step in creating a digital strategy based on revenue is to identify your company’s overall revenue goals. Once you know how much revenue you need to generate, you can develop a plan for achieving that number. There are various ways to increase revenue, so you must consider all your options and choose the ones that will work best for your business.
The key is to assess the whole organisation, not just your division or silo. Revenue opportunities exist everywhere, and in digital, we can influence and facilitate journeys at every customer life stage.
By developing a digital strategy based on revenue, you can ensure that your company is on track to meet its financial goals.
How digital impacts revenue at marketing, sales and customer service touchpoints
Digital has emerged as the clear revenue driver across marketing, sales and customer service touchpoints. In fact, according to a recent study by Forrester, digital customer service interactions will increase by 40%. This shift is driven by customers more comfortable researching and buying products online before engaging with a company representative.
Companies must ensure that their digital channels deliver a seamless and positive customer experience at every touchpoint to keep up with this trend. An example of this in real life could be a well-designed website that is easy to navigate, has relevant and engaging content that speaks to the customer’s needs, and provides easy-to-navigate lead generation channels, chat prompts, and helpful customer service content when needed.
When done right, digital can be a powerful revenue driver for any company. If you’re unsure where to start, contact a digital marketing agency that can help you assess your current state and develop a plan to get you where you need to be.
The media industry should be your discovery tool, not your database.
In the age of digital transformation, customers are in control. They have more choices than ever before and are using that power to seek out the best possible experiences – this is terrible news for businesses that rely on traditional marketing tactics to reach their audiences.
Outdated methods like spray-and-pray advertising and one-size-fits-all messaging don’t work anymore. It uses traditional marketing methods in a digital economy.
The good news is that there is a better way. By using media to understand your audience and reach them where they are, you can create more relevant, targeted content that will resonate with them. And when you do that, you’ll see a significant increase in ROI. The media industry should be your discovery tool, not your database.
Customer data is your backbone.
As a business, you are nothing without your customers. They are the ones that keep you afloat and enable you to grow. Therefore, it is essential that you treat them well and nurture them throughout their journey with your brand.
There are a few key things you should keep in mind when it comes to customer data:
First, make sure you collect as much data as possible. The more information you have on your customers, the better equipped you’ll be to understand their needs and provide them with an exceptional experience.
Second, don’t be afraid to use data-driven marketing techniques to reach your customers. With the right tools, you can target specific groups of customers with highly personalised messages that are more likely to resonate with them.
Finally, remember that customer data is only valuable if you use it effectively. Make sure you have systems and processes to help you make the most of the information you collect. If done right, leveraging customer data can be a powerful way to improve your business’s bottom line.
Companies must understand that revenue reigns supreme in digital journeys and that consumer engagement is critical. The digitisation of commerce has presented a unique opportunity for companies to drive revenue and keep customers engaged. By understanding the customer journey, utilising AI-powered technology, leveraging data science techniques to identify market trends, optimising messaging campaigns, and delivering personalised experiences, businesses can unlock their potential for increased effectiveness and ROI.