Post on 24-Sep-2020
Marketing Tips for Business Growth
How Doing Business Has
Evolved In Just25 Years
In other words, every aspect of how
business is conducted is undergoing
a paradigm shift at an accelerating
pace. This rate of development has
turned industry-defining companies like
Blockbuster, Xerox, and Kodak into the
biggest examples of why businesses
need to keep changing with the times.
Needless to say, to thrive in this ever-
changing, highly competitive landscape,
modern businesses are compelled to
rapidly evolve, or risk perishing.
Startups in one corner of the world are
disrupting established businesses in
another, thanks to the internet.
Automation is vastly improving
business efficiency.
Ads are getting smarter. Advertisers are
targeting their audiences with granular
control over who sees those ads, based
on their location, age, income groups,
interests, and even intent.
Innovative solutions are making it easier
for consumers to find precisely what they
want, when they want it.
The business landscape has changed dramatically in the past 25 years.
New TechnologyA range of cutting-edge technologies
is revolutionizing almost every industry
around the globe. Artificial intelligence,
IoT, 5G blockchain, automation,
augmented reality, wearable tech, remote
collaboration tools, and even something
as small as mobile apps have brought a
tectonic shift in business operations and
customer experience.
Businesses that have leveraged one
or more of these technologies have
gained unprecedented benefits and a
competitive edge in their industries.
Regulatory FrameworkBusinesses the world over are
experiencing a friendly political
climate. The intense focus on economic
development by governments has
resulted in acquiring loans more easily,
increasing tax breaks, business-friendly
regulations, and the establishments of
infrastructure conducive for business.
Today’s Business Climate
The business climate never settles.
It is constantly adjusting to new
regulatory frameworks, disruption
by technology, and ever-increasing
competition.
Competition Companies are using a variety of
different strategies to stay relevant
in the current and future business
environment. A local electronic store
in Los Angeles is competing with
a Chinese vendor on Alibaba. They
have to stay competitive in pricing,
convenience, quality, and service for
their customers. Social media platforms,
and eCommerce have greatly expanded
the reach of businesses, and thereby,
the competition they face.
In this FREE DYL eBook, you’ll discover highly effective marketing strategies and tips that will help your business overcome the mounting competition and unlock rapid business growth. Regardless of what business you’re in.
This eBook Offers Actionable Steps You Can Use
Every business is unique in
terms of customer engagement,
customer service, operations,
resources, team size, and so on.
It has a unique set of resources
to brave the competition in its
industry, carve out a niche for
itself, and grow steadily. However,
most businesses have similar
marketing needs based on the
size of their budget and industry.
Marketing Needs of Businesses at Different Stages
StartupsStartups are usually bootstrapped.
They are low on equity and human
resources. So, they have to get creative
with their solutions. Their marketing
strategy is sharply targeted at early
adopters, and therefore, the messaging
must be crisp and clear.
A startup marketing plan needs to focus
on brand recognition. They must invest
in social engagement, get customer
testimonials, and present a ‘different’
view to attract customers. They usually
do this using email marketing, regular
social media posting and more.
MaturityMature companies tend to have multiple
product lines and several product variants.
Their business sustainability strategy
involves up-selling to existing customers,
building a loyal customer base, and carving
out a higher market share in the industry.
However, their vast size does not allow them
to engage each customer manually. They
must rely on a powerful set of tools and
technologies to attract customers, engage
them, and deliver highly personalized brand
experiences to them.
ExpansionRapidly growing businesses have more
resources than startups and are more
or less stable. However, to ensure rapid
growth, they must rely on a small number
of highly loyal customers, while innovating
to gain new customer bases. Building a loyal
customer base is critical for fast growth, and
that starts with finding the right customers
in the first place.
Growing businesses must attract the ‘right’
customers to fuel their growth.
What’s At Stake
Businesses across the spectrum are under
intense pressure to offer superior services,
develop better products, generate more
revenue, and achieve higher customer
satisfaction, while simultaneously increasing
their operational efficiency. Whether it’s a
small, medium, or large enterprise, every
business must achieve these objectives to
stay competitive in their respective industry.
The difference between those who don’t
and those who do is staggering. Take a look:
65%A company has a 15%
chance of selling to a new customer, but a 65%
chance of up-selling to an existing one.
75% of prospects conduct research online
before buying. Here’s what they see:
95% of dissatisfied customers will make
their displeasure known online with a
bad review. One bad review could cost a
company up to 22% in future sales and
three bad reviews can cost a company a
crippling 60% of new business.
A happy customer will tell up to nine
friends of their positive experience with
a company. This form of advertising is
responsible for five times more sales than a
paid ad, due to the built-in trust that comes
with word-of-mouth promotion.
The result? $6 trillion in added annual sales
from a simple conversation over a cup of
coffee or dinner with friends.
A company has a 15% chance of selling to a
new customer, but a 65% chance of up-selling
to an existing one. And the cost of selling to a
new customer is five times higher!
Define Your Sales Flywheel + Master It
The sales flywheel is realized in the three
stages described below:
AttractYou attract customers with a pull strategy.
There are several ways to attract the right
customers. You can be at the right place,
offer the right solution to their problem,
run a promotion, or give them a better
price than everybody else.
In the digital era, the pull strategy also
works through social posts, blogs, and
other content that provides value to them.
These are the topics that resonate with
No matter what size
your business is, a
loyal customer is the
cornerstone of your
success. In fact, it’s a
well-established fact
that just by increasing
customer retention
by 5%, business
profits shoot up by
as much as 95%.
Therefore, modern businesses must
continually follow-up with prospects,
reach out to new leads, retain existing
clientele, and keep their customers
engaged. This might sound like an uphill
task, but it can be achieved with a tried-
and-tested strategy of the Sales Flywheel.
A flywheel is a mechanical device
that stores kinetic energy. In market-
ing, a flywheel uses the happiness
of your customers as a force to drive
sales. It stands on three pillars –
attract, engage, and delight.
Leads
Prospects
Advo
cate
sCustomers
Attract
EngageDelight
Growth
them and may have the answers they have
been looking for. For instance, if you offer an
investment service for individuals, you can
create content like an Instagram video called
“Investing on a Budget.” Instantly, you have
their attention.
EngageOnce you have their attention, it’s time to get
their interest in your offering. In this phase,
you tell them an exciting and captivating
story about how your product or service
solves their problems and why it’s the best
way to address their pain points. Listing
product benefits on the company website,
prompt customer service, after-sales
service, warranty fulfillment and other
aspects offer several touch points with the
customer to elevate their experience.
Successful companies personalize these
experiences. Birthday wishes, anniversary
wishes, holiday discounts for related
products, and so on, inspire better
brand-customer relationship. This is what
compels them to try your other products,
higher packages, longer subscriptions, and
so on, ultimately transforming them into a
loyal customer.
encouraging feedback through polls
and quizzes, even giving a free trial of
your product are some effective ways of
getting your audiences excited about your
offering.
DelightThis is the most critical step in the growth
journey of every business. You now have
a buying customer, and it’s time for
you to delight them. Mere satisfaction
will not do. You must meet their
expectations in every way and exceed
them wherever possible. Responsiveness,
So how do these stages apply to you? Well,
depending on what stage of growth you’re
business is in, ask yourself the following
questions:
Small Businesses: How do I offer outstanding
customer service with minimal resources?
Growing Businesses: How do I keep existing
customers happy, while finding new ones
at scale?
Mature Businesses: How do I offer personalized
services to a vast set of customers and
maximize customer retention?
Automation is Vital to Achieving Business Growth
The answer to all these questions is
the same – Marketing Automation!
Marketing automation enables
businesses of all sizes to maximize
their productivity, achieve rapid
growth, and drastically bring down
their costs, besides offering other
benefits. Here’s how:
Contextual CommunicationAt any given time, a business’s
customers – existing and potential –
are at various stages of their purchase
journey. Some are evaluating the
product, some are considering the
price, some are ready for the up-sell,
and so on. To convert them effectively,
businesses must send them emails and
personalized text messages relevant to
the customer’s current state of mind.
Generic messaging can’t do that.
Email and text messaging automation
allow businesses to automate
single-channel and multi-channel
communication, so customers receive
customized messages based on their
position in the purchase journey.
Whether it’s discount coupons,
birthday wishes, subscription renewal
reminders, or other messages, they can
all be automated.
Re-engagementYou cannot keep 100% of your
customers happy. Some will leave you.
However, win-back programs are an
excellent way to reignite interest in
your products and services. A simple
“Your next order is on us,” email or a
“Save 50% on your next order” text
message can often turn a disgruntled
customer into a reengaged one, now
ready to give you a second chance.
Tracking Customer SatisfactionHow do you know whether your customers
are happy or not? Ask them!
Several online survey tools make it
phenomenally effortless to gather useful
information from customers. You’d be
surprised how many customers respond
to feedback emails. You can automate the
sending of emails with survey requests
after every interaction between your
company and customer. It shows you care
about them, and they’ll love you for it.
Re-marketingPPC advertisements can be set to
retarget existing customers, and potential
customers who have visited your website
before. You don’t even have to know these
audiences. Services like Google Ads can do
it all on their own, automatically. In fact,
they are so advanced they can give your
re-marketed audiences contextual ads
based on what they’ve seen before on your
website. Suppose they checked a particular
product on your site. Google can show
them ads of that particular product, or a
related one.
Abandoned Shopping Cart EmailsIf you are an eCommerce business, then
you are likely dealing with a case of
abandoned carts. That’s normal in this
industry. Thankfully, there’s something
you can do about it. The next time you
notice an abandoned cart, you can
send a quick email to the customer
reminding them of it. If you’d like, you
can even add a nice little discount or
offer to go with the purchase. There
are several powerful tools available to
automate all of your communications.
Future of Marketing AutomationThe applications of marketing automation are extensive – onboarding customers, A/B
testing of campaigns, tracking referrals, time-based marketing campaign, transaction
messages and emails, and even tracking the performance of marketing campaigns. With
the advancements in big data, machine learning, and artificial intelligence, automation is
gradually moving towards “intelligent decision-making”.
Businesses would be able to muster “smart” and highly effective marketing efforts at the
click of a button.
To simplify everything we’ve talked about
today, look for a software and service with
automation at its core. An easy-to-use
platform like DYL combines a phone system
and sales CRM to create a virtual office with
all the tools you need at your fingertips:
Sequential Dialer - Make over 100 calls per
hour per user without ever hanging up the
phone. Our automated call center tools do
the dialing for you.
Hotlist - When prospects are ready, your
sales team has a hot list on their dashboard
with intelligent notes they can use to close
the deal.
What’s Next For You?
Call Recording / Call Monitoring -
Access previous conversations for
vital information that could serve as a
relationship builder. Train new staff by
letting them listen in on live calls to
ensure consistent messaging.
Conference Bridge - Keep clients and
staff in the loop by including up to 30
people in virtual meetings, regardless of
where they are.
Far from exhaustive, this list gives you a
sneak peek into how DYL can impact your
business immediately. Here are just a few
more reasons:
Instant Lead Responder - Reach out
to potential customers who have
expressed interest through a web form
or advertisement instantly.
Stored History & Notes - Keep track of
all past communications with prospects
and customers to avoid over-soliciting
or miscommunication. Access to stored
notes history helps your team with
standardized processes, accelerating up-
sell and cross-sell opportunities.
Bulk Text Messaging - Broadcast custom
messaging directly from your desktop to
your entire staff, prospects or customers,
complete with attached PDFs containing
articles and photos for enriched
storytelling.
Auto Attendant / Virtual Receptionist:
Customize greetings with updates of
upcoming events or sales, create settings
for business hours and after hours, create
voice messages for frequently asked
questions, or simply route calls to the
right individual.
Advanced workflows - Pre-scheduled
email drips, texts and calls crafted well in
advance can be sent to prospects as they
enter the system to begin the nurturing
process. Timing your communication
schedule ahead of time is far more
effective than trying to do things in
real-time. And automating post-sales
engagement ensures every buyer gets a
‘thank you.’
Campaigns - Group your customers, so
you can customize your messages and
send in bulk.
Security - Keep your information and
data safe.
Reliability - Live support and 24-hour
maintenance to ensure optimum
performance.
Explore Your Possibilities
Sign up for a free 1-on-1 demo
Or call (855) 357-9249 to speak with a
DYL professional.
Visit us to learn how DYL
can help your business grow.
Serving Your Needs from Beginning to End
DYL, In a Nutshell
All-inclusive Pricing - Two plans to
choose from to fit within your budget.
Ease of Use - Easy DIY set up with a support
team just a chat or phone call away to guide
you through.
Flexibility - Customize your virtual
workspace to fit your needs.
Collaboration - Communicate with your team
members in real time, even when on a call.