The traditional way of marketing got an update in terms of digital marketing. So, in this Expert Insight Interview, Paxton Gray discusses how to get the maximum from the money you invested in digital marketing. Paxton Gray is the CEO of 97th Floor, an award-wining, one of the nation’s top digital marketing agencies.
This interview discusses:
The expansion of information offered
How to get market insights
Digital marketing includes building websites, content, SEO, design, advertising, analytics, etc. The greatest thing about marketing digitalization is that now we can know what is happening from the beginning to the end. We do not need to follow our gut or intuition anymore because there is analytics to show us what our audience and market act and react the best. To learn on which platforms they should promote their business, companies should talk to their customers. They should send surveys, learn where their customers live, learn which platforms they use, even learn which content they consume. For example, in the B2B market, many people underestimate the power of the Instagram platform and emphasize the LinkedIn. Only around 20 percent of B2B businesses are on Instagram and the majority are on LinkedIn, but most of their target audience is using the Instagram platform.
How to Get Market Insights
The truth is that many businesses do not have market insights, but there are marketing tools to get it. Analytics will track everything including all conversions that happen on your website. Market research will through keywords give insights into the areas that people are interested in. Customer experience review will show if your company fits the industry landscape. Checking the purchase cycle will show what leads to ultimate conversion and what is irrelevant on the website. This type of in-depth market research and analytics takes time; thus, it is important not to expect immediate solutions. It varies by the company, but based on the company’s budget and time frame, there are certain KPIs that serve as a goal to be reached. The common misconception is that since digital marketing is online it is very cheap. Yes, there are ways to promote your business for little money and that is okay if you are a start-up small business. But, if you start running ads and if you do it wrong, it can take a huge amount of money from you quickly because you will get in the race with large companies that are financially stronger than you. LinkedIn is for example notorious for taking a big amount of money from you quickly. In that case, the solution is in content and knowing your audience.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.