Small strategy… Big results
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This document outlines three stages of digital maturity for small and medium-sized enterprises: early adoption with an initial online presence; second generation with mobile responsiveness, search optimization, and social engagement; and the "holy grail" of omnichannel customer experience and crowd-sourced product enhancements. It discusses how BDC Internet Consulting uses manageable digital marketing strategies to help businesses grow quickly, providing examples of one client that saw a 30% increase in traffic and 120% increase in engagement, as well as $500k in new revenue.
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Small strategy… Big results
- 1. Small strategy… Big results BDC Internet Consulting September 29th , 2014
- 2. Canadians are online use the Internet 82%
- 3. SMEs are not online sell online 17%
- 4. How B2B customers research business purchases Source: Google/Compete, 2012
- 5. 3 stages of SME digital maturity STAGE 1 – early adoption > Initial online presence > Not search optimized > Not mobile optimized > No social strategy > Poor representation of their brand
- 6. 3 stages of SME digital maturity STAGE 2 – 2nd Generation > Fast in every way > Mobile responsive > Optimized search relevancy > Easy management > Positive brand experience > Built to foster social engagement > Open source > Established analytic process
- 7. 3 stages of SME digital maturity STAGE 3… the Holy Grail! > Omnichannel customer experience > Integrated into backoffice tools > Thought leadership content > Digital presence influenced by customers and users > Crowd sourced products and services enhancements
- 8. > An Internet marketing approach focussed on developing results to help you grow your business quickly
- 9. COMPLEX STRATEGIES ??? RESULTS ???
- 10. MANAGEABLE STRATEGIES $$$ RESULTS $$$
- 11. BBDDCC DDiiggiittaall MMaarrkkeettiinngg FFrraammeewwoorrkk
- 12. BEAFFOTRERE11
- 13. AFTER1
- 14. > 30% increase in traffic > 120% increase in customer engagement > Close rate of 2-3 deals per month based on online marketing tactics
- 15. BEAFFOTRERE11
- 16. AFTER1
- 17. > $500k+ in new revenue from online presence > June - August 2014 is SOLD OUT
- 18. “I know half of my marketing dollars are wasted I just don’t know which half.”
- 19. Thank you bdc.ca Follow me: Ravi Dindayal BDC Entrepreneur BDC_News
Editor's Notes
- Here because you know Internet is important to your business You know that it takes time and costs money You have invested but have been frustrated by the results Not lived up to the hype Well I have some good news… we’ve made it work for many small and medium sized businesses That’s what I want to share with you all today… a simple concept and approach that has been built for you. It’s about a simple manageble strategy that drives results
- But lets start with the Internet hype… why is it important It’s pretty simple really, 82% of Canadians are online. In fact, Canadians are the highest users of the Internet in the world. That is why its important…. Not more complicated than that! But there’s a problem…a disconnect ..
- Only 17% of Canadian SMEs sell online; so we have a large gap between Canadian consumer demand and what is available online, i.e. what Canadian businesses are offering in terms of products and services on the web. This reminds us that there is money on the table and we know that because global competitors are moving into take advantage of the opportunity in the online marketing space. So as Canadian business owners you are missing out on huge opportunities if you’re not fulfilling the online demand of your customers
- And this is not only a problem for the B to Cs in the room. In fact, at BDC many of our clients are b2b and don’t necessarily sell products online; but we’re here to tell you that this is just as relevant for b2b business because research shows that 93% of your customers are researching products and services online and what’s more important is that only 38% are still doing this at trade shows. I’m sure 20yrs ago that number was around 80% but with businesses becoming more cost conscious and using tools like webinars … but even after a tradeshow you give out your card you bet they are looking up your website before calling… I know that number will drop like a rock in the next 5yrs leaving the Internet as the number one source for your customers to find the products and services they need. So you need to ensure that your website is providing that positive brand impression that allows your sales team to continue the conversaion…
- So that’s what we know about the market place, let’s look at what we know about you. .. We’ve learnt this through our practice by working with hundreds of businesses. We know that there are 3 stages of digital maturity. Through our consulting practise we know that most Canadian SMEs fall into one of the three stages of digital maturity; .. Talked about this at the beginning… initial investment… time and money .. But no strategy the site wasn’t built for search engine optimization; what do I mean by that? you’re not on top of the page, you’re losing out! Not mobile optimized, when being mobile is key today. two screens at the same time, And most importantly, because social marketing
- Focus on search, tie back in the brand with this “It’s funny because most businesses are very protective or their brand offline Expand on open source platforms such as word press … lastly emphasize the importance of analytics. The popular saying "Half the money I spend on advertising is wasted; the trouble is I don't know which half" is less true in the digital context where ad metrics can tell you a great deal about your
- Talk about the Indigo (RAVI: we talked about using another example that spoke more to SMEs….rather than sticking with Indigo) site and how it all connects back to the bricks and mortor store. Omnichannel is a big word Tell story of starting online… with steve jobs … end with buying book another bioagraphy… that is the hold grail But the holy grail looks differently for every company depending on b2b or b2c but we can help you get there…
- stage 1 to stage 2 or 3… partner and co-pilot Figure out the right set of tools for your business based on your limitations… what type of platform, what type of social platforms, email platforms etc. set up your marketing dashboard so you can see your marketing dollars at work Unlike classic consulting…realms of data… We work with you as partners to get your marketing machine up and running so you can start seeing value quickly
- As discussed stage 3 is a complex marketing ecosystem…mistake a lot of businesses make is to plan for the holy grail right away but rome wasn’t built in a day. and The digital world today can be very complex, FB, Twitter, building a strategy and architecture is complex and time consuming. .. Can’t afford to have your plans sit on a shelf for months and you don’t have large marketing teams at your disposal… you have to get it working so that you can start implementing your strategies and seeing value. And what we know about SMEs that you don’t have time, you’re wearing many hats and can’t afford to become digital marketing experts … time is money in your world… we also know that you are driven by results… this is why
- You need to start building small manageable strategies so you can learn what works and what doesn’t…. For low investment test ideas and tactics and learn from your failures and successes. this approach works for small and medium sized companies… it’s hard for large companies to be agile and make quick decions on products and content etc.. But perfect for sme. Because we know half the battle is execution and not planning.. Planning is important but as you will see you don’t need to build the Golden gate bridge to cross a stream.
- Let’s take a look at our approach that we use to move from stage 1 to stage 3 the digital marketing framework. The first thing we telll clients is that you have to recognize the opportunity and want to go after that digital marketing gravy, it starts with you recognizing that this is important to your business and commit to changing the culture of your organization to embrace digital concepts. Build – use the house analogy of turning on the lights. Drive and Convert – introduce the build it and they will come concept..it’s not build it and they will come Measure/optimize – This is having the discipline to look at what is working and what isn’t working and optimizing your marketing campaign or making adjustments to your website. This is simple low cost approach that can start to get you results right away .. Most of your business need a simple plan to get started, you don’t need to build the Golden gate bridge to cross a stream.. .but once you have that basic foundation you can start to build and turn on other rooms in your house until you have a solid online marketing presence.
- ADD BEFORE AND AFTER.. I’m going to give you two examples of the digital marketing framework in action… this is how it looked before the implementation of our framework… we worked as a partner.. This was a classic stage one… there was no…etc. We worked closely with them as a partner to implment the framework and this was the result …
- All of those factors are important but at the end of the day you’re all focussed on results.. So here are is ROI after 3mths without any organic marketing. So when we start spending dollars we can maximize our spend… and get better value.
- All of those factors are important but at the end of the day you’re all focussed on results.. So here are is ROI after 3mths without any organic marketing. So when we start spending dollars we can maximize our spend… and get better value.
- You’ve heard that you need a website, mobile site, FB etc.. The truth is that you need to build this stuff today but you also need to attract eyeballs and to continue the baseball analogy get butts in seats. This is nothing new, just like TV, you can buy advertising on TV but if you buy ads for moms in a 1am slot when their not awake you’re going to fail similarly with the Internet you have to avoid the build it and they will come thinking and we can work with you to implement our marketing framework that is customized for your business to ensure that you are not out sitting alone in the middle of an empty cornfield.