Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
I need both hands, both feet and then some to count the number of digital platforms small businesses can use to reach their audience. And that’s the problem — you’re trying to be everywhere all the time. You know what they say: “The jack of all trades is master of none.” As a small business, being everything to everyone, everywhere, all the time just isn’t realistic.
Chances are, the demographic you’re trying to target isn’t everywhere, either. We hear it all the time, “I know I have to be online.” Yes, you do. But this doesn’t mean you have to waste time and energy being in spaces where your customer base is minimal. Do it right. Here are four easy steps to help you be intentional with your digital presence and “STIC” to what you know best (we all love a good acronym, right?).
A mentor of mine once said, “It’s best to start with the end in mind.” So, what’s your end game? Once you’ve thought about your end goals, GET DETAILED. Details ensure mindful steps toward reaching any goal. Think of these detailed steps as setting a strategy. Setting a strategy is like following a compass — it will direct the ship (and its crew members) to keep business on course.
Consider your key performance indicators (KPI). Try making a specific goal, then evaluating what metrics will actually move that needle. For example, return on investment (ROI) might not increase just because click through rates (CTR) are increasing. The more specific your goals, the better: to get five 3+ star reviews on Google Business this month or increase the number of visitors to your website by 25 unique visitors or gain 12 new email opt-ins this month.
Now that you’re revved up about goals, let’s pull back the reins a tad. Once you’ve declared your goal, how will you know you’ve reached it? Like a New Year’s resolution, if you pick too many goals and go for the complete overhaul, tracking and consistency will be incredibly hard to maintain. Don’t burn out before you have the chance to see changes. Therefore, the second step is to track these goals or, in most cases, one goal.
Let’s keep in mind the Pareto Principle, also known as the 80/20 rule, that 80 percent of outcomes result from 20 percent of input. Identify the 20% that creates the most productivity for your business and focus your energies toward it. Start small. Pick one goal to track (or two, if you can’t help yourself). Keep in mind, as you move toward your goal, you’ll probably need to course-correct and adapt. We almost never follow the same path we set out on at the very beginning because as we get closer to the objective, we need to adapt to new obstacles set in front of us – and that’s okay.
In reality, you can run a campaign whenever. But there are some key questions to consider to ensure your efforts are maximized by intention.
First, ask yourself: Who do you want to target? Even if Gen Z is on Tiktok, that doesn’t mean you need to be there, too. Those who say their audience is “everyone” don’t know who their audience really is. You have a unique product or service to offer, and your customer base wants to feel like they are unique in their situation. Double-down: define an age group, an income level, an employment status and a geographic location, and watch as the right advertising channels rise to the top, whether display, social media, email or paid search.
P.S. Don’t discount your email campaign just yet—63 percent of millennials report that promotional emails impact their final purchasing decisions most or all the time, according to a study by Fluent.
Then consider the budget. $20 can go a long way. Whether purchasing an email marketing software subscription or utilizing paid targeting efforts on Facebook, a small investment can create an exponential difference in traffic to your platforms (especially when you’ve already outlined your target demographics).
Next, consider if there is a season when your product/service sells best. If marketing is about attracting customers, then attracting them at their best time is an important part of the equation. HVAC does great in the heart of summer, right? Be in front of your audience when interactions are most often to occur. Continuing marketing efforts during your busy seasons opens doors to a larger volume of leads not only because of the interested customers, but also to the audience hearing about your services by word of mouth. The best advertising channel is a satisfied (and vocal) customer.
Experts estimate the average American is exposed to around 4,000 to 10,000 advertisements per day. Does this surprise you? Maybe the hardest part of any digital campaign is creating a message that sticks, without overdoing it.
The fourth and final step is learning to retarget the portion of your audience that is already interested in your product or service and bringing them back to your site. Many campaigns experience ad fatigue. In short, ad fatigue is when your campaign loses effect over time. Ever start a race strong, but barely cross the finish line? Some ads are just like that—they start with sky-high conversions and dwindle down to single-digit impressions. One way to avoid this is by making small changes to your messaging or graphics every 45-60 days. Ideally, these are small changes like changing the background picture, adjusting your call to action, maybe implementing a “hot deal” or holiday special.
Typically, only 2 percent of web traffic completes a purchase after the first visit, according to Retargeter.com. It is much easier to convert a returning website user (rather than a new visitor) into a customer. That’s when retargeting comes in. By placing a pixel on your website, you can track customers who visit but don’t convert, then target them with another message to bring them back. You can retarget customers with banners, social ads and even emails if they’ve abandoned their shopping cart. Retargeting offers a way to message to your lowest-hanging fruit for a more efficient — and effective — way to leverage your dollars.
The digital landscape offers everyone a plot of land to grow and flourish. But as most businesses have learned, without a digital strategy to lead you, finding the spot where you can rise above is an aimless road. Setting and tracking thoughtful goals will ensure your next digital campaign is sure to not only capture your audience, but keep them coming back for more. Remember, one small and detailed goal (alongside persistent tracking) can be much more effective than spreading yourself too thin across every digital platform.
From the wise words of Rumi, a 13th century poet, “If all you can do is crawl, start crawling.” You are the expert in the room. No one knows your product or service better than you do. So, pick one way to showcase it best and conquer it.
