Updated: May 2
In any economy, when times are good and cash is flowing, it’s easy to grow a business. When times are tough and budgets are too small for growth – that’s when greatness is needed. By combining traditional approaches with digital thinking and leveraging technology, your organisation can make positive change happen right now. Even when business growth seems unlikely in an economy that has been locked down or masked up, it is possible to plan for growth by making the right moves.
Here are our 4 tips to grow your business in the new-normal:
Reach out to your existing customers
A lot of businesses lose customers because they do not handle communications well with their existing customers. Communication with your existing/past customers is now more crucial than ever.
it is very important to communicate to your existing customers that you are still around and ready to serve them. Reach out to them and remind them about their association with your company. Also, reassure them about the safety practices that you follow in their purchase or service delivery via email, phone or social media networks.
You could also offer them a discount or an add-on to induce them to come back. Ensure that your message is empathetic and personal. Remember that your customers have also been rocked by the pandemic both personally and financially and, therefore, don't sound too 'pushy' in your communication.
Even a friendly "Hi, How are you?" type of email could help them remember you. It could be just enough to convince your client to start using your service again or buy your product. Prequel Lab offers email marketing as a service to increase engagement for your business with your clients.
Generate new leads by leveraging Digital Advertising
Lead generation is the oxygen for any business. Everyone’s heard that one before right? That line might be a bit cliched, but it’s true. The more quality leads you generate, the more customers will you attract and convert to sales. Digital Marketing has given businesses the tools to reach out to target audience directly and precisely.
Pandemic period has meant that people are getting more digital time than ever. Getting leads has never been easier than it is right now. People spend more and more time online, which means it’s easier than ever to generate leads by way of lists and targeted ads. Facebook and Google are the two largest advertisement platforms online and placing ads on these channels have paid rich dividends to many of our clients in the recent past. We were able to generate leads from around the country for a B2B client of ours with a conversion rate of 6% (the number of leads generated as a ratio to website visitors) using Google search ads.
Video Marketing is the in-thing
Did you know that the average person spent about 100 minutes a day watching videos online in 2020? Video consumption has grown 100% every year for the last three years and this trend is likely to sustain leading upto 82% of all internet traffic belonging to Videos by 2022. Youtube has emerged as the preferred platform to watch videos followed by Facebook. Live videos get double the engagement rate than recorded videos.
These stats indicate that businesses cannot ignore the power of videos and must invest in Videos. Video making is not an expensive affair like in the past, and now it is possible to quickly make videos in a small budget. There are many online tools available for video making for a small fee, or you can hire an agency to make videos for your business. Prequel Lab can make videos of the following kinds for your business:
Business Promotion Videos
Story telling Videos
Educational Talk Videos
Television Commercial Videos
Grow customer engagements via Social Media
We all know that customers’ engagement with a brand can translate into repeat purchases and revenues. A study revealed that increased customer engagement leads to 18 percent increase in website traffic and 12 percent decrease in cost per action.
Social media offers an easy way to maintain and grow customer engagements. Several companies, from small businesses to megacorps, are using social media to connect with clients and potential clients . However, content creation for social channels can be both time consuming and draining if you try and do it yourself. Additionally, organic reach on social media has dried up to the point that brands that don't innovate and keep pace with changing consumer behaviour lose out in real engagement online. That is why it is a good idea to engage the services of a seasoned digital marketing service firm to create content and post regularly to maximise your brand's social reach and engagements.
Prequel Lab offers Social Media marketing strategies that
increase brand awareness - we got a client's Facebook video to reach 1 million account organically
increase reach - one of our client's reach grew from less than 2000 to over 2 million in just 5 months
engage the target audience - we trended a customer's brand hashtags on multiple occasions via online contests
increase sales - we grew a client's Facebook sales by 320%
Whether you are a small business or a large corporation, investing in Digital Marketing is your vaccine against the pandemic of business stagnation. Reach out to us to find out what digital strategies best suit your business.